One of the stated goals of the cap and trade legislation is to reduce our dependence on fuel imports. It may have the opposite effect:
June 26 (Bloomberg) — America’s biggest oil companies will probably cope with U.S. carbon legislation by closing fuel plants, cutting capital spending and increasing imports.
Under the Waxman-Markey climate bill that may [...]
While we haven’t seen a rise in income tax rates yet, we do have some preliminary evidence about the possible effects. Other taxes have been rising and there are consequences:
Hav-A-Tampa cigars closing Tampa plant:
- Tampa will lose part of its cigar heritage in August when Hav-A-Tampa shuts its factory near Seffner and lays off about [...]
Bob McTeer, former Dallas Fed President, has this to say about the increase in savings reported in the last income and spending reports:
What happened in May was that the government increased its budget deficit (increased negative saving), borrowed the money, and paid it to individuals as part of the stimulus package. Since individuals saved less [...]
State governments are so desperate for revenue they are trying to legalize the theft of unused gift cards (via the WSJ):
Some states faced with sinking tax collections and rising debt are going after unused gift cards that bolster their revenue.
South Carolina is considering legislation that would give the state the right to collect unclaimed gift-card [...]
