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New IRS Tax Data for 2008 Show Recession's Impact on Tax Receipts

New IRS Tax Data for 2008 Show Recession's Impact on Tax Receipts

Washington, DC, October 6, 2010 – All stripes of the income spectrum earned markedly less during recessionary 2008 than they had during 2007, according to newly published income tax data from the IRS.

As usual during a recession, incomes shrank by larger percentages at the top of the income ...

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Reads: 637

Don’t Fear a Trade War With China

Don’t Fear a Trade War With China

The House Ways and Means Committee has just approved a billthat would attempt, albeit modestly, to crack down on Chinese currency manipulation, a key cause of America’s trade deficit.  The Ryan-Murphy currency bill (HR 2378) would allow the Commerce Department to treat currency manipulation as ...

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Reads: 599

America Aping Britain’s Decline Through Free Trade

America Aping Britain’s Decline Through Free Trade

One of the most inexcusable things about America’s ongoing economic decline by means of free trade is how clear the historical portents are.  For example, we are today treading the same path trodden by a nation that Americans know reasonably well: Great Britain.  It is easy to forget that ...

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Reads: 744

Is a Flat Tariff the Answer to America’s Trade Mess?

Is a Flat Tariff the Answer to America’s Trade Mess?

The House Ways and Means Committee has finally approved a bill that would attempt to crack down on Chinese currency manipulation, a key cause of America’s trade deficit, by threatening China with retaliatory tariffs.   Leaving aside the bogeymanof a trade war—which China is unlikely to ...

Read more: Is a Flat Tariff the Answer to America’s Trade Mess?

Reads: 1462

Why Does the US Need a Consumer Czar?

Why Does the US Need a Consumer Czar?

Elizabeth Warren to be appointed White House 'consumer czar' ... The White House will announce Friday that Harvard law professor Elizabeth Warren will be appointed to be an assistant to the president and oversee the creation of a new consumer financial protection bureau. The move is largely seen as ...

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Reads: 853

Capital Rivals: Koch Brothers vs. George Soros

Capital Rivals: Koch Brothers vs. George Soros

Ever since Jane Mayer's recent New Yorker piece earlier this month, much of the media has risen to debate how much influence conservative and libertarian-leaning businessmen David and Charles Koch, the owners of Koch Industries, have in American politics.

Some critics of the article arguethat ...

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Reads: 3070

Are Consumers Finally Winning in Washington?

Are Consumers Finally Winning in Washington?

This past week the administration announced its choice for the first credit czar at the new Consumer Financial Protection Bureau. This bureau was created as part of the supposed Wall Street reform bill recently passed by Congress. This new bureau, which represents nothing more than another layer of ...

Read more: Are Consumers Finally Winning in Washington?

Reads: 554

Swiss Institutions Ask: Where's the Gold?

Swiss Institutions Ask: Where's the Gold?

He who owns the gold makes the rules." – An old adage

Have you ever wondered what would happen if most of the claimed US gold reserves do not really exist? Can Washington continue to operate under its own questionable and often non-existent accounting rules if it doesn't have the gold reserves as ...

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Reads: 1589

The Curse of Fiat Money

The Curse of Fiat Money

Preventing the Banking Industry from Shrinking

It may come as a surprise to many, but the relative size of the US commercial-banking industry has not declined following the so-called credit-market crisis, which developed in the second half of 2007. On the contrary, it has increased since then. ...

Read more: The Curse of Fiat Money

Reads: 631

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