In December 2010, Congress extended the research and development tax credit through tax year 2011, but it has since lapsed and has not yet been renewed for 2012. The tax credit was first enacted in 1981 in an effort to improve the international competitiveness of American businesses by encouraging innovation and new technology.
The federal minimum wage is currently $7.25 an hour, but some states and cities have minimum wages that are significantly higher. Furthermore, eight states raised their minimum wage, effective January 1, 2012.
CNBC: Bob McTeer on the effects of the Fed’s decision to ease rates until 2014 on The Kudlow Report.
Houston Chronicle: NCPA’s Bob McTeer’s perspective on the Fed’s decision to disclose policymakers’ individual forecasts, in part two of Loren Steffy’s analysis.
Houston Chronicle – NCPA’s Bob McTeer questions the Feds latest move to provide more forecasting detail.
Forbes.com – NCPA Senior Fellow Bill Conerly discusses the economic benefits of businesses owning their own real estate in a recent Forbes commentary.
The federal and state governments levy taxes on gasoline and diesel fuel primarily to fund highway construction and repair. These taxes average 40 cents on every gallon of gas purchased. However, a significant portion of revenue is diverted to other purposes, such as education and public safety.
A recent American Society of Civil Engineers (ASCE) report estimated the United States will need to spend $2.2 trillion over the next few years to bring the country’s infrastructure to acceptable levels. A $2 trillion projected estimate for infrastructure sounds daunting, but it is important to examine what planners consider ‘infrastructure.’
FrontPageMag.com: Walter Williams’ latest commentary at FrontPageMag.com focuses on John Goodman’s Health Alert about income inequality
Wall Street Journal: NCPA Board Chairman Pete du Pont weighs in on the President’s re-election bid if he bumps Biden for Clinton on the ballot.
NCPA: Most Social Security reform proposals would result in fewer benefits for future retirees. However, if the program pays out less in benefits there is an offsetting gain: payroll taxes needed from younger workers to support the program will be lower than they would be to fully fund benefits under the current program.
National Review Online – The National Review Online profiles a flat tax idea from NCPA President John Goodman and Senior Fellow Laurence Kotlikoff.
As the United States recovers from the 2008 recession, many consider any employment growth to be a good sign. But uncertainties about future tax and health care costs could be inhibiting permanent job growth, shifting more of the labor force to temporary and part-time employment.
Forbes.com – NCPA Distinguished Fellow Bob McTeer comments on bank fees and profits in his latest Forbes piece.
The Wall Street Journal: In the last few years, as promised, the Obama administration has fundamentally transformed America. Our country is now in serious decline. Income is lower, unemployment is higher, jobs are fewer, government is much larger. Federal spending is way up, and America’s economic status is way down, as is the global view of our country and our economy. Hardly anyone sees any sign of economic recovery or improvement.
Forbes.com – In a major speech on health care reform Rep. Paul Ryan proposed a variation of a plan created by John Goodman and Mark Pauly.
NCPA: President Obama and Congress should consult with workers before raising corporate income taxes, according to a new National Center for Policy Analysis (NCPA) study from Senior Fellow Laurence J. Kotlikoff.
In a recent Iowa speech a heckler yelled at former Massachusetts Governor Mitt Romney to raise corporate taxes. Romney replied, ‘Corporations are people, my friend.’ He quickly clarified that statement to indicate that corporations are people because they are owned by people and that when you tax corporations you are taxing people — people who own corporations.
The Christian Science Monitor – NPCA’s Pamela Villarreal responding to the President’s “tax the wealthy” proposal.
National Review Online – NCPA Senior Fellow Bill Conerly explains why the President’s new jobs bill is not what is needed to fix the economy.
CNN Money – NCPA Senior Fellow Bill Conerly weighs in on the private sector’s role in future job growth.
NCPA – The country faces a rapidly growing fiscal gap that is actually fifteen times larger than the $14 trillion “official” debt, according a new report from the National Center for Policy Analysis (NCPA).
Dallas Morning News – Gov. Rick Perry’s complaint against the Federal Reserve is that loose monetary policy has weakened the value of the dollar. Bob McTeer, former president of the Dallas Federal Reserve Bank, understands but says a weak dollar helps U.S. exports, one of the few strengths in the economy.
CNBC: According to NCPA expert Bob McTeer, even though the Fed is not pursuing the QE3 option at this point, it does not mean that the Fed will do nothing.
Wall Street Journal: President Obama promised change, but what we got is not what we had hoped for, according to NCPA Board Chairman Pete du Pont.