Showing posts with label economic growth. Show all posts
Showing posts with label economic growth. Show all posts

AMERICAN FORUM

By Susan Shaer

As Supreme Court Justice Oliver Wendell Holmes said, “Taxes are the price we pay for a civilized society.” It costs money to make this country hum. Anyone can see that it would be impossible to have roads crisscrossing the country, federal jails and courts, national parks and monuments, environmental protection that has no boundaries, and a whole raft of other essential services without a nationwide system in which we all have a stake.

Right now, our debt, the deficit and the spectacle of a narrowly averted government shutdown have focused attention on federal spending of tax dollars. To that, I say hooray. I hate looking at my own spending budget, but I know what my priorities are, and what money I have to use, save or borrow against. When we examine our personal finances, we recognize our personal values. Such a magnifying glass aimed at the federal budget will expose priorities of our “civilized” society.

So what are our federal values? We have two sides to the spending budget; one non-discretionary (required spending by law or interest on the debt), and the other discretionary. The discretionary side is where our priorities are displayed full frontal. The current budget allows for 56 percent on the Pentagon, wars and nuclear weapons.


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Wednesday, March 30, 2011

What Happened to Gloomy Predictions?

AMERICAN FORUM

By Frank Knapp, Jr.

Economic reports show that most job growth in our country this year has come from small- and medium-size businesses. That trend will only accelerate, according to the recently released Small Business Index from the Center for Excellence in Service at the University of Maryland’s Robert H. Smith School of Business.

Nearly 3.8 million new jobs will be created by small businesses with fewer than 100 employees in 2011, says the report. That will be enough alone to lower the U.S. unemployment rate by 2.4 percent. The survey, conducted in January, also found that only 2 percent of small businesses planned to lay off workers.

Major health insurance companies nationwide are reporting dramatic increases in small businesses offering health insurance to employees. This reverses a trend for small businesses dropping insurance because of affordability.


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GEORGIA FORUM

By Charles H. Kuck

From the perspective of a lifelong Republican, I am always troubled when the State Legislature starts looking at ways to “fix” a problem by getting the government more involved in the lives of its citizens, rather than less involved. That is absolutely the case with the currently pending legislation on immigration. A detailed review of HB 87 and SB 40 reveals that these bills do not reform illegal immigration nor do they enforce laws related to illegal immigration. What they do is increase taxes on every citizen of Georgia by increasing government regulation, create unfunded mandates for every county, city, town, and village in Georgia, and create new private rights of action against every Georgia polity that will result in hundreds of lawsuits that will drain taxpayer coffers and result in little, if any real change on the issue of illegal immigration.

This type of legislation is popular because it gives the perception that the state is doing something, which the federal government is purportedly not doing—enforcing federal laws on illegal immigration. The problem with this notion is two-fold. First, the federal government is doing more than it has EVER done in enforcing the laws on undocumented immigration. The Obama Administration is spending literally billions of taxpayer dollars building fences, hiring border patrol agents, detaining undocumented immigrants and actually deported 400,000 people last year—a record. Second, these proposals do not create any greater degree of enforcement than already exists under current state and federal law.

By September 30, 2013, everyone arrested in Georgia is going to be run through the Secure Communities program, and if they are unlawfully present in the United States they are being held for ICE (Immigration and Customs Enforcement) to pick up within 48 hours.


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AMERICAN FORUM

By Mitchell Gold

As a business owner who has created hundreds of jobs over the past two decades, I understand economic policies that build sustainable growth. Yet the billions in tax cuts for the wealthy just signed into law compromise our shared future.

The promise of “trickle down” economics has failed. When recent studies suggest that 1 in 3 working families are near poverty, it defies common sense that some elected officials have prioritized giveaways to the wealthy. This greed and excess is what got us into the worst economic recession since the Great Depression. It defies good business and core American values to pass this burden on to increasingly vulnerable working families, and to our children and grandchildren. How much more damage to the middle class can the country endure?

It’s clear that our political leaders need to shift course in order to build a healthy economy. We need to put aside the myths and rationalizations that excuse the unprecedented greed the last decade has witnessed. We need to have a basic sense of decency and focus on policies that benefit us all.


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Wednesday, November 24, 2010

Taxes and Thanksgiving

AMERICAN FORUM

By Sally Jones

“Cut My Taxes!” Americans have heard this cry for years -- and we’ve heard it shouted angrily in recent months. We hear that we pay too much in taxes, that government makes poor use of our money, and that our prosperity would rise if only taxes would fall.

But in reality our taxes have fallen steadily in recent years. In 2001 and 2003 Congress passed temporary tax cuts which will expire at the end of 2010. We must now decide what good or bad has come of that experiment and what tax law we want for the future.

Most of us recognize that one size doesn’t really fit all -- and this holds true for income tax rates. Maintaining a lower level of taxation for the vast majority of Americans makes sense in today’s hard times. But why should we do the same for the tiny percentage of citizens -- a minority to which I gratefully belong -- whose annual earnings exceed $250,000? The American people borrowed $700 billion to give people like me a tax cut over the last decade. Why should they borrow an additional $700 billion to extend the tax breaks?


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Friday, November 12, 2010

We Didn't Vote for This

AMERICAN FORUM

By Frank Knapp

Whether Americans voted for Republicans or Democrats in the mid-term election, one thing is clear: Voters were demanding that Congress focus intensively on job creation on Main Street -- not lobbyists and campaign donors from big business and Wall Street.

Apparently, many in Congress and President Obama, if recent reports are true, either didn't get the message or simply don't care now that the voting is over.

The top legislative priority of the newly "Tea Party-empowered" during the lame duck session is hardly what Tea Party insurgents had in mind. The proposal is to (1) increase the national debt by borrowing $700 billion to $1 trillion over the next 10 years; (2) spend the money on big, non-job producing tax cuts for the wealthiest 2 percent of Americans; (3) use small business as the excuse.


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MINNESOTA EDITORIAL FORUM

By Beverly Caruso

There’s heated debate over whether to extend the Bush-era tax cuts for families with incomes over $250,000.We’re hearing the argument that letting the high-end tax cuts expire will hurt business. Yet I’ve seen first-hand how well-designed tax policy is critical for spurring innovation and business development. It plays a very different role than the anti-tax crowd leads us to believe.

CyberOptics, a leading high-tech company in the area of electronic inspection, was founded by my husband, Steve Case, in 1984, and now employs 180 people in Minnesota and around the globe. How this business came about tells a very different story about the role of our tax dollars – and the public investments they support - in job creation. This is an important story to tell if we want to recreate the fertile ground that allows new companies to start up and become successful, sustainable job creators.

Steve was a physicist and entrepreneur, whose education was financed totally by National Science Foundation grants and scholarships. Later, as a young professor he would again gain our government’s support through a Fulbright Scholarship. The scholarship led us to Germany where Steve deepened his scientific knowledge and met executives in Europe who would become major clients of his new business. Steve always said that fellowship year had a profound impact on his creativity, confidence, and skills. As a professor at the University of Minnesota, his partnership with a government contractor made it possible to conceive of and establish CyberOptics.


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Wednesday, October 20, 2010

To Grow Our Prosperity, Let my Tax Cut Expire

AMERICAN FORUM

By Peter Heegaard

Congress should do the responsible thing and let tax cuts for high earners expire at the end of this year.

As someone who has benefited from these tax cuts, I believe we must restore balance to a federal tax system that has been tilted in favor of the wealthiest 5 percent for a generation.

I’ve had a lifelong interest in the vital role of social entrepreneurs, the local heroes who take risks to lead innovative nonprofit organizations to solve problems at the local level.


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Monday, October 18, 2010

Let My Tax Cuts Go

WASHINGTON FORUM

By Bryan Kirschner

When Congress debates whether to extend the Bush-era tax cuts for the wealthy or let them expire at the end of the year, I hope our elected officials have the courage to let my tax cuts expire. Sure, I would pay less in taxes if Congress extended my tax cuts, but as a citizen and business executive, I think that would be shortsighted and irresponsible.

My family was not affluent. Growing up, I never worried about middle-class basics like a new pair of shoes every year for school or whether we'd have a roof over our heads next month. But luxuries I take for granted today — like taking vacations in Europe— were outlandish things people like us didn't do.

But my parents, neither of whom went to college, did make one thing clear from as early as I can remember. They were committed to giving their kids the chance to pursue as much education as they wanted at the best possible schools to which they aspired.


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AMERICAN FORUM

By Rick Poore

A good friend and fellow businessman once told me, “Give me more customers and I’ll be forced to buy equipment and hire people to meet demand. Give me a tax break without more customers and I’ll just go to Aruba.”

Ending the Bush tax cuts for the wealthiest taxpayers is the right thing to do for small businesses. I’ll say that again: it’s the right move for small business. Let me explain.
I consider myself an example of an average small business owner in Nebraska. I have 30 employees. My business does $2 million plus in annual sales. My personal income as the owner is less than $85,000 a year.

It’s a comfortable living, but ending the Bush-era cuts on the top two brackets won’t come close to impacting me. And it won’t impact the other small business owners I know, either. The top brackets won’t kick in until your taxable income is over $200,000/year for individuals and $250,000/year for couples, and they’ll only apply to the portion of your income above those amounts, not below them. Less than 3 percent of taxpayers reporting any business income (not limited to small business income) earn enough to break into the top two brackets.


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MINNESOTA EDITORIAL FORUM

By Dan McGrath

Given the dire unemployment crisis, it shouldn’t come as a surprise that new Census Bureau data reveal that a record number of people struggled with poverty last year in the United States.

What may be more striking, however, is just how many of the poor were employed. Recently released state and local poverty data reveal that more than half of the Minnesotans who were below the poverty level were employed during 2009. More than 31,000 of our neighbors who worked full-time for the entire year were still officially poor. Too many jobs in our state pay workers poverty wages and are failing to provide a path to economic recovery for Main Street.

The ranks of the working poor are even larger when we look at the number of working Minnesotans who are working fulltime but are making less than twice the poverty line -- a measure many economists use because the official poverty line is based on an outdated 1960’s formula and considered woefully inadequate. Using this yardstick, a shocking one in 10 workers in our state who worked full-time for the entirety of 2009 was still in poverty.


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Tuesday, September 14, 2010

Pioneers of the New Normal

AMERICAN FORUM

By Sarah van Gelder

Americans are facing a troubling reality. The economic recovery they were promised has not materialized. There’s growing talk about a “new normal”—a new way of life to take us through a long period of failed recoveries.

There are, indeed, good reasons to believe we won’t go back to the old ways. But this new normal doesn’t have to be a time of chaos and decline. Instead, many Americans are building stronger families and communities, rejecting the waste and greed that made our economy implode, and turning instead to self-reliance and the sort of neighborliness that embraces diversities of all sorts.

Why not go back to the consumer ideal that was the foundation of the American Dream? Many who live paycheck to paycheck have lost jobs, homes and hopes for an education, retirement security and belief in a more prosperous future. CEO pay is on the uptick, as are corporate profits. But the anti-tax, anti-regulation fever that enriched some undermined the real wealth of our country—our education system, infrastructure, communities and natural resources. And much of our economy has been outsourced, making it difficult for stimulus spending to get growth going again.



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