Morning Economic News

Economic News and Opinion for September 22, 2011

Posted by Mark Price on September 22, 2011 6:15 am
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Good morning! Here is today's news:

... The Association of American Railroads backs a new business coalition that wants Congress to cut the top U.S. corporate income tax rate ... The railroads have joined AT&T, Boeing, FedEx, Lockheed Martin, UPS, Verizon, and Walt Disney in pushing for the change. Nike, Time Warner Cable, and the National Retail Federation (Sears and other stores) have also joined the tax-cut group, which calls itself RATE ("Reducing America's Taxes Equitably") ... Why now, when so many big American corporations report high and rising profits, and American individual taxpayers face falling wages and scarce jobs?

Economic News and Opinion for September 21, 2011

Posted by Mark Price on September 21, 2011 7:10 am
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For those of you not obsessed with the coming Pumpkin Shortage, here is your morning run down:

Which brings me to reaction to Friday's column from two executives about whether more government action is needed. Roger Colley, a former president of ... Betz Laboratories and Envirogen, would try to reduce uncertainty for business by doing the following: First, put all new regulations on hold and freeze federal spending, both for five years. Next, cut the corporate net income tax rate to 15 percent from a top rate of 35 percent and make the current rates for individuals permanent ... Tom Callahan, senior vice president of Bristol's Modern Group Ltd, ... would also cut the corporate tax rate so that businesses are not 'incented to do business overseas all the time.' Instead of a freeze on government spending, Callahan suggested it be cut, saying, 'The wars should be ended.'

Economic News and Opinion for September 20, 2011

Posted by Mark Price on September 20, 2011 7:39 am
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Here is a rather grim run down of the morning economic news and opinion:

”Right before Labor Day, Mr. Myricks, of La Palma, Calif., near Los Angeles, lost his position as a factory machine operator, a job hard-won after a long spell without work. That painful loss was an echo of July 2009, when a supermarket eliminated his position as an assistant manager. Mr. Myricks joined the 28 percent of teenage men in the work force — 39.7 percent of black teenage men — who were idle and looking for a job then. He spent over a year looking for work, and moved into a cheaper home with his wife, Briana, 20, to help make ends meet. After a few months delivering pizzas part time for Pizza Hut, he finally secured a full-time job in April 2010 at a box factory where his brother is an assistant manager. ’It is a very, very dangerous job,’ Mr. Myricks said of his work at Georgia-Pacific. ‘There are operators in my plant who are missing fingers, or missing legs. They’re still working there, though.’

Economic News for September 19, 2011

Posted by Mark Price on September 19, 2011 7:20 am
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Your morning economic news:

"The toughest point, said Brittany Modlesky, may have been when she had to sell her bedroom furniture to help pay for a class. She got $350 — a good amount, more than she earned in a week of waiting tables and tending bar while juggling courses. Modlesky graduated last year from Shippensburg University with a degree in communications, high hopes for the future — and $60,000 in debt."

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