The NY Sun praises Gov. Rick Perry’s (TX) Federal Reserve criticism but hopes he will deepen his analysis.
In USA Today, Jeff Bell lauds Perry’s comments.
The WSJ commends Perry for taking a hard money stance.
Meanwhile, The Washington Post quotes Perry sounding defensive about his comment and explaining that his main desire is for greater Fed transparency.
On Squawk Box, Art Laffer chides Warren Buffett and provides a primer on his famous curve:
At Forbes, Tim Worstall rebuts Buffett’s tax argument.
On NRO, Larry Kudlow suggests the sharp rise in M2 suggests deflationary hedging against European banks.
From Forbes, Louis Woodhill explains why a 10 to 1 spending-cut-to-tax-increase ratio would still be a bad deal.
In The WSJ, Stephen Moore notes the President blaming world events and Republicans for the weak economy.
On The Kudlow Report, David Malpass discusses today’s market tumble and Europe’s banks:
Gold Standard 2012 features an International Economy article by Jeff Bell on the dollar and gold.
At Fox News, Rich Danker notes Venezuela’s nationalizing of its gold industry.
CNN reports US Rep. Michelle Bachmann (MN) promising to bring gas back to $2 per gallon.
On Forbes, John Tamny finds economic lessons in a book on the restaurant business.
At International Liberty, Dan Mitchell analyzes strange Keynesian arguments.
Jim DeMint's appearance on the Kudlow radio show Saturday night was very good. He pointed out that 60% of investment capital comes from the top 3% of income earners, those earning $200,000 or more. He started to get to the problem with a payroll tax cut.
ReplyDeleteEssentially the Republicans are hobbled by their lingering Keynesianism which led them to do Bush's 2001 income tax rate cuts. The 2003 investment tax cuts were the real drivers of growth, but are coupled in the public's mind with the ineffective 2001 cuts.
It's very difficult to argue against payroll tax cuts when you are still out there defending income tax cuts as "putting money into people's pockets so they will spend it."
The confused message of the electorate is because they want the investment tax cuts but don't want the 2001 rate cuts and the huge deficits that came along with them. Our unsophisticated political divide right now is not offering the right solution.