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Congressman Fred Upton Should Not Chair New House Energy and Commerce Committee

November 30, 2010

The House Energy and Commerce Committee in the 112th Congress will be responsible for health reform, environmental legislation, and energy issues. It should be chaired by someone with a strong anti-spending and pro-market voting record. Congressman Fred Upton, next in line to chair the Committee, is not such a person.

Dangers of Employment Regulation Through UN Treaty

November 30, 2010

On November 17, the Senate wisely refused to pass the Paycheck Fairness Act, which would have subjected the pay of every woman in America to new forms of litigation and the American economy to untold harm. But the UN's Convention on the Elimination of All Forms of Discrimination Against Women, signed by Jimmy Carter and ratified by every industrialized country except the United States, would do the same. The Senate should not ratify the treaty.

Lessons for the U.S., or Why Is Germany's Unemployment Rate Lower than Ours?

October 4, 2010

Germany and the United States have taken radically different approaches to addressing unemployment, and Germany's unemployment rate is now lower than America's. During the recession, Germany continued a complex set of labor reforms called the Hartz Reforms, cutting some payroll taxes, deregulating labor markets, and reducing the length and size of unemployment benefits. The U.S. Congress did the opposite. We should consider some of German's reforms.

Auctioning Visas

October 4, 2010

It's a cliche that our immigration system is broken. Why not auction visas to employers or individuals, thereby raising money for the Treasury that could be used to offset immigrants' costs? At the same time, biometric ID cards would make enforcement easier.

Paycheck Fairness Act Up for Senate Vote in Lame Duck Session

September 30, 2010

On September 29 Majority Leader Reid filed cloture on a motion to proceed with the Paycheck Fairness Act in the lame duck session of Congress. The bill will be debated on November 17. It has already passed the House, and President Obama will sign it if the bill goes to his desk. This bill would require that employers report the gender, race and salaries of workers so the government can be assured firms are not discriminating against women.

Race and Gender Quotas in the Dodd-Frank Financial Regulation Bill

July 8, 2010

The new Dodd-Frank financial regulation bill will require financial agencies and financial institutions that contract to the federal government to abide by race and gender quotas. Section 342 of the bill sets up over 20 Offices of Minority and Women Inclusion to assure “to the maximum extent possible the fair inclusion” of women and minorities, individually and through businesses they own, in the activities of the agencies, including contracting.

Replace Fuel Taxes With Charges for Vehicle Miles Driven

May 27, 2010

As cars get more fuel-efficient, gasoline tax revenues, used to fund America's road network, are declining. A logical replacement would be to charge drivers for vehicle miles traveled (VMT) through meters on cars. Drivers would pay charges for VMT rather than gas taxes. Oregon experimented successfully with this method of funding roads.

The Expansion of Financial Regulation

May 27, 2010

The financial regulation bill would hurt consumers by raising prices of banking and financial services and prohibiting certain transactions. In addition, it would make future government bailouts of financial firms more likely. Regulators would be empowered to determine which institutions to wind down and which to rescue, leading to further political cronyism.

The Effects of the Kerry-Lieberman Bill on Employment

May 13, 2010

The Kerry-Lieberman bill, released on May 5, would have substantial negative effects on the economy and on employment by increasing energy prices. With the unemployment rate close to 10%, this is not the time to pass such a bill.

The Effects of the New Health Care Law on the Restaurant and Retail Sectors

May 7, 2010

The new health care law will make it far harder for the restaurant and retail sectors, the primary employers of part-time and low-skill workers, to operate. Firms with more than 50 workers will have to offer the right kind of health insurance, costing no more than 9.5% of the employee's income, or pay a $2,000 penalty. This will give small restaurants and stores a substantial cost advantage. It will wreak havoc with franchisees, who frequently own groups of small establishments.

The April Employment Situation

May 7, 2010

The April unemployment numbers show that the economy is still not creating jobs at a rate fast enough to absorb the reentrants to the labor markets as well as new entrants and existing unemployed.

An Analysis of Senator Dodd's Proposed Financial Reform Bill

April 16, 2010

Senator Dodd's new bill would hurt consumers and increase the likelihood of government bailouts, further expanding the deficit.

Changing America's Employment Pool from Private-Sector to Public-Sector Jobs

April 16, 2010

The job market may be picking up, but the share of government jobs is growing as a percentage of total employment. Private-sector jobs are increasingly controlled by government regulations. On Tuesday the administration issued regulations implementing President Obama's executive order on Project Labor Agreements, requiring federal projects of over $25 million to employ union workers. This makes these projects more expensive, reducing hiring and increasing costs.

Congress Seeks to Rescue Underfunded Union Multiemployer Pension Plans

April 8, 2010

Moody's estimates that large union multiemployer pension plans are underfunded by $165 billion. House and Senate bills seek to allow the Pension Benefit Guaranty Corporation to assume responsibility for these plans, taking certain employers and unions off the hook at a cost of billions of dollars to US taxpayers. This would discourage these plans from fixing their problems on their own by raising retirement ages and contribution levels and lowering benefits. Watch for a union bailout this fall.

Obama's Energy Policy Goes Domestic, In a Good Way

April 1, 2010

Driven by a need for more jobs, President Obama is embracing offshore drilling and nuclear power. This marks a split in the previously tight coalition of unions and environmentalists. Now, environmentalists are being thrown off the bus in favor of the energy and jobs America needs. It's a good start.

The Health Bill's Unemployment Implications

April 1, 2010

The new health bill is causing write-downs of earnings from companies such as ATT, Caterpiller, and Prudential. The medical device tax will encourage medical device companies to locate offshore. These changes do not bode well for employment.

No Recovery Until Consumers Come Back

August 15, 2009

Analysis of:U.S. Economy's Rusty Rebound | www.forbes.com

The data last week showed that consumers are not yet back from vacation. Until they start spending, the recovery will not take place. The danger of lower labor force participation and higher unemployment is casting a shadow over potential economic expansion.

Why We Don't Need a Value Added Tax

July 30, 2009

Analysis of:A VAT Tax Is Not the Answer | www.realclearmarkets.com

Congress is looking for ways to pay for health care and to reduce the deficit, and some in Washington are proposing a value-added tax. This is inadvisable. A 1% VAT could raise $100 billion a year, and a 5% VAT could bring in $500 billion. This would encourage Congress to increase spending rather than reducing it, raising the percent of GDP attributable to the government sector. European countries with VATs generally have slower growth and higher unemployment than does the United States.

America Needs More Nuclear Power Plants

July 30, 2009

Analysis of:It's Time to Go Nuclear | www.realclearmarkets.com

Congress is considering bills that, if enacted, would raise $847 billion over 10 years while adding $821 billion to federal spending. This is effectively a tax increase with large, negative economic implications. That huge sum would not pay for the additional electric power a growing economy must have. It would be the added cost of curbing climate-warming emissions and of developing energy from renewable fuels. Instead, we should build more nuclear power plants.

Health Care Tax Hikes Will Raise Unemployment

July 30, 2009

Analysis of:'Rich' Taxes Cripple Small Towns | www.realclearmarkets.com

The House of Representatives health care proposal seeks to tax small businesses to pay for health care. This will prevent businesses from creating jobs. Firms that do not provide the right kind of health insurance to workers would pay a tax of 8% of payroll beginning at $400,000 (2.5% of payroll for firms with payroll of $250,000). Income tax surcharges would be imposed on those making over $350,000, starting at 1% and rising to 5.4% on income above $1 million.

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