Morning Economic News

Morning Must Reads: The Self-Destruction of the 1 Percent

Over the weekend, Chrystia Freeland told a story about the city of Venice to warn of the pitfalls for all of society when extreme inequality undermines social mobility.

Third and State This Week: Paying the Boss to Work, a Payday Lending Poll, and Austin Powers on Tax Incentives

This week at Third and State, we blogged about the problems with a "pay your boss to work" tax credit plan, what the Austin Powers movies can teach us about economic development, the gas industry taking on Pennsylvania charities, an online payday lending poll, and more!

IN CASE YOU MISSED IT:

  • On state tax policy, Michael Wood noted the top 10 reasons to vote no on a bill that would allow many Pennsylvania employers to pocket the state income taxes paid by new employees.
  • On taxes and economic development, Mark Price channeled his vast knowledge of Austin Powers' quotes to comment on an effort by a food corporation to secure a property tax abatement for a meat repackaging plant in Lower Allen Township.
  • On Marcellus Shale, Stephen Herzenberg wrote about the need for reliable data on natural gas drilling after the Marcellus Shale Coalition criticized the funding priorities of certain Pennsylvania foundations.
  • On payday lending, Chris Lilienthal urged readers to vote in an online poll asking Pennsylvanians if payday lenders should be able to open storefronts in the state.
  • And on jobs and the economy, Mark Price chronicled the many informative responses debunking former GE CEO Jack Welch's suggestion on Twitter that the federal Bureau of Labor Statistics altered September's jobs report.

More blog posts next week. Keep us bookmarked and join the conversation!

Morning Must Reads: How 'bout No, You Crazy Dutch....

The Only Proper Villian We Could Find From the NetherlandsOn Monday night, the Lower Allen Township commissioners in Cumberland County considered a proposal from Ahold USA, the corporate parent of Giant Food Stores, for a $400,000 property tax abatement on a meat repackaging plant on which the company has already broken ground. (Ahold USA is itself the subsidiary of the Netherlands-based Ahold.)

The company has neglected a basic principle of the economic development game through which companies extract subsidies and tax breaks from states and localities where they were going to build anyway: until you have the subsidy in hand, don't give away that it will not impact your location decision.

News Flash! Marcellus Shale Coalition Takes on Pennsylvania Charities

Thanks to Citizens United, we are all the beneficiaries of unlimited corporate money in our elections — witness the onslaught of TV ads interrupting our ballgames and the fall lineup of TV shows.

In a new twist, the very groups that agitated to spend unlimited funds to promote their point of view are now critical of others who challenge them. What brings this to mind is an Associated Press story this morning that the Marcellus Shale Coalition is not happy about the funding priorities of the Heinz Endowments and William Penn Foundation.

Morning Must Reads: Never Before Has So Much Stupid Led to So Much Learning!

At 7.8% in September, the U.S. unemployment rate was below 8% for the first time since January 2009. Five minutes after the new numbers were released, former General Electric CEO Jack Welch suggested the Bureau of Labor Statistics (BLS) had juked the stats.

Third and State This Week: Court Halts Voter ID Law, Changing the Subject on Payday Lending and Paying the Boss to Work

This week at Third and State, we blogged about a court decision halting enforcement of the Voter ID Law in the November election, an effort to change the subject on payday lending, a report on rising student debt, a lawsuit against the state to restore General Assistance and much more!

IN CASE YOU MISSED IT:

  • On voter ID, we highlighted a statement from the Pennsylvania Budget and Policy Center (PBPC) on a Commonwealth Court decision halting enforcement of the Voter ID Law in the November election. Chris Lilienthal also highlighted MSNBC's coverage of PBPC's recent report on the state's flawed implementation of the Voter ID Law.
  • On payday lending, Mark Price wrote about a recent state Senate hearing on the subject and why changing the subject doesn't make high-interest payday lending any better an idea in Pennsylvania.
  • On education, Jamar Thrasher blogged about a Pew Research Center report on the growing burden of student debt especially among the lowest-income students.
  • On jobs, Mark Price explained how the story of a Bucks County manufacturer who is finding it difficult to recruit workers made him think of a joke about parrots and economists. He also broke down the employment picture in Allentown.
  • On state tax policy, we shared a video from Reuters exploring the problems with programs that allow certain businesses to keep the income taxes paid by employees. The Pennsylvania House is considering a similar program.
  • On public welfare, Mark Price blogged about a lawsuit aimed at restoring Pennsylvania's General Assistance program.

More blog posts next week. Keep us bookmarked and join the conversation!

Late-Morning Must Reads: Well We're Living Here in Allentown So Call Me Maybe

Since I attended the 82nd annual Gridiron show last night, I'm both in a good mood and have the Pennsylvania Legislative Correspondents Association's version of Carly Rae Jepsen's Call Me Maybe (<--not them) in my head this morning. 

Morning Must Reads: We Are Better Than This?

Public policy in Pennsylvania in the aftermath of the Great Recession does not reflect well on the commonwealth.

Over the weekend, the Harrisburg Patriot-News detailed a new Department of Public Welfare policy to shift more of the cost of caring for intellectually disabled children onto their parents. 

Morning Must Reads: Thank You for Smoking!

Right there, looking into Joey's eyes, it all came back in a rush. Why I do what I do. Defending the defenseless, protecting the disenfranchised corporations that have been abandoned by their very own consumers: the logger, the sweatshop foreman, the oil driller, the land mine developer, the baby seal poacher...

Morning Must Reads: Morning Call on "Bombing Public Education Into the Stone Age"

This morning, Bill White of the Allentown Morning Call renders his mid-term report card on the education policies of the current gubernatorial administration.

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