"Taxing American energy companies would actually increase the debt and deficit. It would also have the unintended consequence of forcing these companies to relocate to more hospitable tax climates overseas, taking American jobs with them."
Mark Twain is usually credited with the quip that “Everybody talks about the weather, but nobody does anything about it.” The same is certainly true of our dependence on foreign, and often unfriendly, sources of energy – particularly when gas prices soar and every American feels the pinch.
Fuel prices got you down? Need a job? Well, prepare to unlearn everything you’ve learned about domestic energy production. Don’t ever let another green “warmer” tell you, “We can’t drill our way out of this mess.” That’s a lie.
There is lots of Sarah-hate this week to wade through, plus we tackle Austan Goolsbee- and who doesn’t want to do that? -Paul Revere, investment and tax theory explained for liberals (we’ll use very simple arguments with gratuitous references to green jobs just to keep them interested), plus we’ll give out a gold star for the comment of the week.
A study found that among businesses with a "high awareness" of what ObamaCare is all about, more than half are planning to drop health care insurance benefits for their workers. That spells death to private insurance and life to nationalized healthcare just as conservatives predicted.
While everyone who has advanced beyond dial telephones has heard of Facebook, I think that most would be surprised to discover the ant farm of connectivity that is active in social media about you.
California may be issuing IOUs because it can't come up with a plan Republicans and Democrats agree on. The stumbling block is tax hikes favor by unions.
The upheaval in Yemen and the possibility that al-Qaida might take over, turning that country into a stronger terrorist base than it already is, should give pause to American and European policy in the Arab world.
Unlike super-deflationist Robert Prechter, I expect gold to hold its value over the mid-term (another swoon is always possible) as the Fed fights massive deflationary forces of excess leverage, excess debt, boomer demographics, global wage arbitrage, cutbacks in state and local governments, and most importantly - consumer attitudes towards debt.