Tuesday, September 16, 2014

General Economics

CNN Money | Where the middle class is most unequal
Virginia is the most unequal when it comes to comparing median income by county.
Wall Street Journal | OECD Cuts Economic Growth Forecasts
The Organization for Economic Cooperation and Development Monday cut its economic growth forecasts for the U.S. and other large developed economies, and said the continued weakness of the recovery demonstrated the need for significant changes in economic policy.

Econ Comments & Analysis                                                                                            
Wall Street Journal | A Republican War on Poverty
To the credit of Democratic strategists and candidates, many average voters, and especially minorities and suburban women, assume that Democrats care more for disadvantaged Americans than Republicans do. It is a myth that is dangerously close to becoming conventional wisdom.
Market Watch | Poverty rate falls as middle-incomes stall
The poverty rate has fallen while the average household isn’t getting any richer, according to the latest government data released Tuesday.
Heritage Foundation | The War on Poverty After 50 Years
In his January 1964 State of the Union address, President Lyndon Johnson proclaimed, “This administration today, here and now, declares unconditional war on poverty in America.” In the 50 years since that time, U.S. taxpayers have spent over $22 trillion on anti-poverty programs.
The Daily Signal | 9 Facts About How the Poor in America Live
Many in America, while struggling, also have more assets than you might assume based on media reports.

Wall Street Journal | Did Your Local Economy Beat the U.S. In 2013? This Chart Will Tell You
The U.S. economy expanded 2.2% in 2013. But growth varied greatly across the nation’s 381 metropolitan regions, and some local economies actually contracted, a new Commerce Department report shows.
Wall Street Journal | Income Inequality Pressures State Tax Revenue, S&P Says
One of the flashpoints in the debate over the widening income gap has been answering the question, “So what?” What is the real impact of separating wages for the wealthiest Americans and everyone else?

Health Care

CNN Money | 4 million fewer uninsured as Obamacare kicks in
There were 41 million Americans lacking coverage in early 2014, down from 44.8 million last year, according to the National Health Interview Survey, the first official government look at the uninsured after Obamacare policies kicked in on January 1. The uninsured rate fell to 13.1%, from 14.4%.
Politico | A GOP Senate could take on Obamacare - but not repeal it
A Republican-controlled Senate cannot repeal Obamacare, no matter how fervently GOP candidates pledge to do so on the campaign trail this fall.
National Journal | More Than 100,000 Enrollees Are Likely to Lose Obamacare Coverage
More than 100,000 Obamacare enrollees are set to lose their new insurance coverage at the end of the month because they have not verified their legal status in the United States.


Fox Business | Fed Won't Be Coy About Telegraphing Rate Hike
When the Federal Reserve finally gets around to raising interest rates from the near-zero range where they’ve been held for nearly six years it shouldn’t come as a surprise to professional traders, mom and pop investors and other market participants.
Bloomberg | Wholesale Prices in U.S. Were Little Changed in August
Wholesale prices in the U.S. were little changed in August from the prior month, restrained by a plunge in energy costs and a sign of limited inflation in the production pipeline.

Econ Comments & Analysis                                                                                            
Forbes | Dollar Stability, Not Inflation, Is Our Big Problem Right Now
Since the Federal Reserve began its massive and unprecedented expansion of the monetary base in late 2008, the American public has been uneasy over the potential for a virulent burst of inflation, which would destroy the value of its income and savings.
Mercatus Center | The Federal Reserve’s Exit Strategy: Looming Inflation or Controllable Overhang?
The recent financial crisis led to substantial changes in the operations of the Federal Reserve (Fed), which now holds financial assets that are five times greater in value than before the crisis.
AEI | Monetary policy isn't class warfare
What the poor need now, according to some pundits, is more inflation.


Wall Street Journal | G-20 Plans to Overhaul International Corporate Tax System Still on Track
Plans to overhaul the international tax system to make it more difficult for companies to shift profits to low-tax countries remain on track, with the Organization for Economic Cooperation and Development meeting an ambitious deadline on Tuesday for presenting a first set of new guidelines to finance ministers of the Group of 20 largest economies.

Econ Comments & Analysis                                                                                            
The Washington Times | EDITORIAL: Dealing with a disgraceful tax code
Millions of Americans Entrust their financial information to private accountants, lest they fill out the dreaded 1040 tax form on their own.
The Washington Times | Spelling out the high cost of tax inversions
Company after company are fleeing tax oppression in the United States by seeking mergers and acquisitions in lower corporate-tax rate nations.


Wall Street Journal | Some Republicans Back State Minimum-Wage Increases
In Washington, Republicans are allied against President Barack Obama's call to raise the federal minimum wage. But in the five states where voters will have a say on wage floors this fall, GOP candidates in competitive races say they favor an increase.


Econ Comments & Analysis                                                                                            
Mercatus | The Debt Deniers Who Threaten America’s Future
There is no shortage of both real and imagined crises vying for the headlines these days. Left relatively unchallenged, largely ignored, or often denied by Washington and the media, however, is one of the gravest internal, self-made threats to our economy: the crisis of government debt. Most economists agree that the United States federal debt poses a real and serious problem for our future, but for the debt deniers, such warnings fall on deaf ears.