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Final Word

State Subsidies Grow More Common and Costly

While federal subsidies and bailouts to industry get a lot of attention, state governments regularly use tax credits, subsidies and incentives to entice corporations to locate within their borders and create more jobs. The problem is that the evidence of economic benefit to state taxpayers and the number of jobs actually created is often shaky.

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Competing Visions Of America’s Future

As the contours of the administration's proposed financial reform legislation come into sharper focus, a pattern emerges. Is the purpose to correct deficiencies in financial markets or, like Obamacare, is the true goal to extend government control over yet another sector of the economy

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Unintended Consequences

ONLY IN WASHINGTON WOULD ONE CONCEIVE OF PUNITIVELY TAXING AN INDUSTRY in order to pay to give away its products. In order to help pay for Obama care Congress has imposed a crippling tax on medical device makers. The total would be about $2 billion a year or $20 billion over the next 10 years. MassDevice, an online medical device ...

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What the Bond Market Is Telling Us

SUPPOSE THE U.S. TREASURY HELD AN AUCTION AND NO ONE CAME?It hasn’t quite come to that but investors are indicating that demand for long-termbonds is sputtering and yields are surging to compensate, suggesting that the President’s near-unprecedented borrowing, raising the national debt toWorldWar II levels, is having troubling consequences. In recent weeks the bond market has been saying that it ...

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Obama Needs an Avatar

IN THE RECENT CINEMATIC SPECTACULAR AVATAR, directed by James Cameron, creator of Titanic, a paraplegic Marine, Jake Sully, is dispatched to Pandora, a moon of the planet Polyphemus, some 4.3 light years from Earth, that is inhabited by gentle, innocent natives who call themselves the Na’vi. Substituting for his deceased brother, Jake is an unwitting foot soldier in the service ...

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Too Big to Fail’ Is Too Expensive By Half

IN HIS WASHINGTON POST OP-ED, J.P. Morgan Chase CEO Jamie Dimon recently wrote, “The term ‘too big to fail’ must be excised from our vocabulary.” He allowed that “if some unforeseen circumstance should put this firm at risk of collapse, I believe we should be allowed to fail.” Crashes are often triggered by smaller events that of themselves do not ...

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