The reason President Bush’s tax cut proposal is in trouble is not that it is too big, but because it is not bold enough in removing all taxes from saving and investment. The tax cut debate has clearly shown that among opinion leaders and member of Congress, the split is roughly equal between those who understand how the economy works Read More ›
To obtain a bank loan, you are often asked to produce a personal balance sheet and income statement. If you were told that if you made a mistake you could be fined $100,000 and go to jail, as corporate executives now face with the new legislation, would you be willing to submit the documents? If you say “no problem,” then Read More ›
If the slide in the stock market is not addressed very quickly, a crisis in corporate and personal debt service may well occur, causing a rapid downward economic spiral. The good news is that Congress and the administration can prevent a further meltdown. The bad news is that Congress seems bent on doing the wrong things, which drive the markets Read More ›