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  • Commentary posted August 14, 2014 by Stephen Moore Yes, Low-Tax States Are Out-Competing High Tax States

    First, an apology. In a July 2 article in this newspaper [Investors Business Daily] I erred in citing Bureau of Labor Statistics numbers comparing the superior job creation performance of no-income-tax Texas and Florida with the two states with the highest income-tax rates, California and New York. This set off a brouhaha in the media — although the errors in no way…

  • Backgrounder posted August 14, 2014 by Norbert J. Michel, Ph.D., Stephen Moore Quantitative Easing, The Fed’s Balance Sheet, and Central Bank Insolvency

    More than five years after the 2008 financial crisis, the Federal Reserve’s role is still the subject of much debate. One source of controversy has been the extent to which the Fed allocated credit directly to possibly insolvent institutions. Critics argue that the Fed should have allowed insolvent firms to restructure through bankruptcy and should have provided credit…

  • Commentary posted August 6, 2014 by Stephen Moore Don't Cry for Argentina—Cry for Us

    Thursday’s headline in the Los Angeles Times — “Argentina Defaults on International Debt” — spooked me, as it did investors. The stock market tanked on the news. All Americans should feel the same apprehension. Argentina has about $200 billion in debt including billions in restructured bonds that it still can’t make payments on. Now Argentina has to go hat in hand to…

  • Commentary posted July 17, 2014 by Stephen Moore Why Every State Should Guarantee the Right to Work

    Right-to-work is back in the spotlight, thanks to the recent Supreme Court decision in Harris v. Quinn. The court ruled that Illinois home care workers cannot be compelled to pay union dues to the Service Employees International Union if those workers are not union members. This was a limited victory for worker rights against coercive unionization and forced payment of…

  • Commentary posted July 17, 2014 by Stephen Moore End Corporate Welfare as We Know it

    Imagine that you were at home on a weekend afternoon and the doorbell rang and a representative from Boeing stood at the door with a tin cup asking you to contribute $10 to the Fortune 100 company so it can sell more products overseas. It's a good bet you would slam the door in the lobbyist's face. But this is, in effect, what these corporate lobbyists are doing in…

  • Commentary posted July 17, 2014 by Stephen Moore Nothing the Matter with Kansas' Tax Policy

    Paul Krugman of the New York Times took a shot at economist Arthur Laffer and others who advise governors around the country to cut taxes to boost economic growth and jobs, calling us “charlatans and cranks” (“ Kansas shows enduring power of bad ideas,” July 1 Opinion). Krugman said it went awry in Kansas, where Republican Gov. Sam Brownback is phasing down the top tax…

  • Commentary posted July 15, 2014 by Stephen Moore Needed: A Patriotic Tax Code

    Anyone who supports the current tax system in America is unpatriotic. There, I said it. The current IRS tax system is anti-American. It sends jobs and factories and research facilities that should be located inside the land of the free to places like Singapore, Ireland, and Indonesia. It hurts American workers — especially unionized blue-collar workers who see their jobs…

  • Commentary posted July 8, 2014 by Stephen Moore This Fourth of July, let's celebrate the right to work

    Independence Day is my personal favorite holiday of the year, the day we celebrate our freedom from tyranny and oppression and the basic and self-evident right of American citizens to live free. That isn’t the case in most other places in the world. Ronald Reagan put it best in his 1980 speech at the Republican National Convention: "It was divine providence that put…

  • Commentary posted July 8, 2014 by Stephen Moore Do We Want More Unemployed Teens?

    School’s out, and I’m terrified my two teenage boys won’t get a job this summer and will sit around watching TV, playing computer games or just eating me out of house and home. Idle hands really are the devil’s workshop, and at this stage, I’d pay an employer to get the kids out of the house and teach them some practical lifetime skills. My first job was working at a…

  • Commentary posted July 8, 2014 by Stephen Moore What's The Matter With Paul Krugman?

    Paul Krugman of the New York Times took a shot at Arthur Laffer and me last weekend, calling us "charlatans and cranks" for advising governors around the country to cut taxes to boost economic growth and jobs. Krugman says such moves went awry in Kansas, where Republican Gov. Sam Brownback cut the top tax rate from 6% to 4.5% and to zero on small-business…

  • Commentary posted July 8, 2014 by Stephen Moore Mr. President, Where Are Our 5 Million Missing Jobs?

    The commerce department reported Wednesday that the economy contracted by nearly 3 percent from January through March. This dismal shrinkage in output has many Americans worrying about a dreaded double dip recession. On the jobs front, it feels to many Americans that the recession never ended. One of the misleading headlines from last month's employment report was that…

  • Commentary posted July 1, 2014 by Stephen Moore The Underappreciated Eric Cantor

    Eric Cantor must have woken up this morning feeling like the Rodney Dangerfield of American politics: I get no respect. In the aftermath of his stunning loss, Mr. Cantor has been attacked from all sides by political Monday-morning quarterbacks — for supposed arrogance, for ignoring his constituents, for being too moderate, too pro-business, not free-market enough, weak…

  • Commentary posted June 30, 2014 by Stephen Moore Obama's Economy: Where Did All The Young Workers Go?

    Economists are scratching their heads trying to figure out a puzzle in this recovery: Why are young people not working? People retiring at age 60 or even 55 in a weak economy is easy to understand. But at 25? The percentage of adult Americans who are working or looking for work now stands at 62.8%, a 36-year low and down more than 3 percentage points since late 2007,…

  • Commentary posted June 30, 2014 by Stephen Moore Conservatives Are Losing Their Way on Taxes

    Where is Jack Kemp when we really need him? His pro-growth, supply-side ideas are suddenly under assault — and not from liberals, but conservatives. Kemp’s and, of course, Reagan’s enduring legacy is to teach us and the world over that tax rates don’t just matter a little, they matter a lot in terms of where growth happens and at what pace. Tax rates are a toll on…

  • Commentary posted June 30, 2014 by Stephen Moore Why not boost teen employment with a training wage?

    This is the time of year when teenagers scramble to land a summer job, but many states and cities make that search far more difficult. As a father of two teens, I know first-hand how tough that job search can be and the negative repercussions about teens staying idle — watching TV, playing computer games, and hanging out with the wrong crowd. So why do states and…