Must-Reads for May 18
Human Events: Extend the Bush tax cuts now
The uncertainty over the Bush tax cuts already has caused a number of business leaders to threaten a hiring freeze and a dampening of investment until they can figure out the after-tax cost of capital and rate of return on investment.
Chicago Sun-Times: Mayor Rahm Emanuel hasn't delivered promised cuts in his office
On the day after he took office, Mayor Rahm Emanuel issued an edict: Every department head at City Hall had to cut senior management payroll costs by 10 percent. But that hasn’t happened inside Emanuel’s own office, city payroll records show.
Washington Times: Rep. Jeb Hensarling - When risk is outlawed
Because private financial firms such as J.P. Morgan inevitably will blunder regardless of their size or sophistication, designating any firm "too big to fail" is bad policy and worse economics. It causes erosion of market discipline and risks further bailouts paid in full by hardworking Americans.
Human Events: Eduardo Saverin doesn't owe us anything
If high taxation chases successful people out of the country, that’s the country’s fault. Daniel Mitchell at the Cato Institute likens this to a “fiscal version of blaming the victim.” Obviously, attaching the word “victim” to a billionaire in an age of class warfare is not going to do much to bolster Saverin’s case. But human beings will act in their self interest.
Must-Reads for May 17
Chicago Tribune: CPS plans 60 more charters in 5 years
Chicago Public Schools plans to create 60 more charter schools over five years, which would increase the share of privately run charters to about a quarter of all schools in the district
State Journal-Register: Personal property tax diversion goes nowhere in legislature.
House Speaker Michael Madigan, D-Chicago, did not try to move his proposal to take money from corporate personal property replacement tax receipts and use it to fund the Teachers’ Retirement System. Money from that tax now goes to local governments and schools.
Must-Reads for May 16
The Wall Street Journal: Oklahoma Reform Showdown
A plan to phase out the income tax, if Republicans allow it
St. Louis Today: In tiny Dixon, Ill., a theft for the ages
In an era of strained city budgets and public obsession with accountability, how does a small town just fail to notice as $53 million walks out the door?
Chicago Reader: Is the city's new bike-sharing program a dirty deal?
Bike Chicago's Josh Squire smells an inside job.
Must-Reads for May 15
The Wall Street Journal: Saying no to state bailouts
States that have followed Europe's economic policy model of unbridled spending are getting Europe's economic results: low growth and looming fiscal catastrophe.
Washington Times: Driving the market from the marketplace
The campaign against ALEC is part of a greater concerted effort to drive productive economic voices from the policy debate.
Human Events: As the boomers head for the barn
A shrinking share of our population is carrying an ever-expanding army of dependents.
National Review: Spitzer wants to focus on economy?
The Obama economic policy did not help those who were worst off, failed to revive the economy, sank the U.S. deeper into debt, and rewarded Obama’s friends and supporters. By all means, let’s focus on it.
The Wall Strete Journal: Jerry Brown vs. Chris Christie
Hard economic times bring their own lessons. Though few have been spared the ravages of the last recession and the sluggish recovery, those in states where taxes are light, government lives within its means, and the climate is friendly to investment have learned the value of the arrangement they have.
Must-Reads for May 14
Wall Street Journal: California Ugly
Soaking the rich isn't working on the left coast.
Wall Street Journal: 'Taxmaggedon" is a real threat
With the expiration of the 2003 tax law at the end of this year, taxes—not only on capital earnings but also on ordinary incomes—will return to the much higher levels that previously existed. This would be devastating to the fragile economic recovery, and to every American still looking for work.