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  • Commentary posted August 25, 2014 by Stephen Moore What economic recovery?

    President Obama was doing a little jig on the tables last week at the White House – figuratively, or course – when we got a decent jobs and GDP report. Mr. Obama even chided those who would dare question his economic stewardship by saying: “Since I have come into office, there’s almost no economic metric by which you couldn’t say that the U.S. economy is better and that…

  • Commentary posted August 25, 2014 by Stephen Moore Secular Stagnation Is a Cover-Up: Failed Keynesian Policies Have Blocked Growth

    John F. Kennedy campaigned for president in 1960 by belittling Dwight Eisenhower's three recessions and declaring, "We can do bettah." He was right. In the 1960s, after the Kennedy tax cuts were implemented, prosperity returned, the economy grew by almost 4 percent annually, unemployment sank to record lows, and a gold-linked dollar held down inflation. But…

  • Commentary posted August 25, 2014 by Stephen Moore California's Miracle Will Turn Out To Be A Mirage

    News media from coast to coast are celebrating a "California comeback" after a near-decade-long Golden State economic collapse. But even this latest recovery may be much more fragile than has been reported, and the state's structural defects still imperil the left-coast economy. Certainly there are reasons for optimism. Tax collections were way up last year, and the…

  • Commentary posted August 25, 2014 by Stephen Moore Low-Tax States Create More Jobs Than High-Tax States

    First, an apology. In a July 2 article on this page, I erred in citing Bureau of Labor Statistics numbers comparing the superior job-creation performance of no-income-tax Texas and Florida to the states with the highest income-tax rates, California and New York. My errors set off a brouhaha in the media — though the errors in no way change the conclusion that low-tax…

  • Commentary posted August 21, 2014 by Stephen Moore America's worker shortage: One million and counting

    America has a deficit of workers. Willing workers. Capable workers. Skilled, or at least semi-skilled workers, who can do a job and do it well. There are at least one million jobs that go begging day after day if only employers could find workers to fill them. This probably seems hard-to-believe. After all, how can America have a worker shortage when we have about 18…

  • 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 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 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 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 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…