Harris' Economic Illiteracy
Plus: Taylor Lorenz scandal, Chinese economy in trouble, tax-free tips, and more...
Plus: Taylor Lorenz scandal, Chinese economy in trouble, tax-free tips, and more...
North Carolina taxpayers have already spent over $96 million on the site, while state officials have seized multiple private properties.
It's good to hear a candidate actually talk about our spending problem. But his campaign promises would exacerbate it.
The New Right talks a big populist game, but their policies hurt the people they're supposed to help.
According to recently updated figures, more than half of the state's film production credits for 2021 went to just one film, whose two stars collectively earned over $50 million.
Both had been dropped from the Inflation Reduction Act over concerns about the bill's cost and the amount of borrowing needed to pay for them.
There seems to be general bipartisan agreement on keeping a majority of the cuts, which are set to expire. They can be financed by cleaning out the tax code of unfair breaks.
Growth of regulation slowed under former President Trump, but it still increased.
Although former President Donald Trump's deregulatory agenda would make some positive changes, it's simply not enough.
Subsidies for journalism will divorce reporters from the need to even try to win readers and viewers.
Those three presidential candidates are making promises that would have bewildered and horrified the Founding Fathers.
George Norcross III's alleged actions are almost cartoonishly corrupt. But for economic development programs, it's not too far off from business as usual.
The obstacles to having more babies can't be moved by tax incentives or subsidized child care.
The obstacles to having more babies can't be moved by tax incentives or subsidized child care.
Why aren't politicians on both sides more worried than they seem to be?
Total spending under Trump nearly doubled. New programs filled Washington with more bureaucrats.
Electric vehicles are not a bad thing, especially in heavily polluted China. But the market should drive demand, not central planners.
A report from Good Jobs First found that 80 percent of state development agency revenue comes from fees: The more tax money they give out, the more they get to keep.
Let's just call this what it is: another gimmick for Congress to escape its own budget limits and avoid having a conversation about tradeoffs.
The team's owner, John Fisher, may have overestimated Las Vegas residents' enthusiasm for a new baseball team.
Despite their informal nature, those norms have historically constrained U.S. fiscal policy. But they're eroding.
These handouts will flow to businesses—often big and rich—for projects they would likely have taken on anyway.
Government officials seek to shape the economy to the liking of politicians.
While the state senate's bill would cap tax credits at 2.3 percent of the state's budget, any production filming at a big enough studio would be exempt.
Chinese camera drones are the most popular worldwide. American drone manufacturers argue that's a national security threat.
And the real kicker is that Intel was probably going to create those jobs without taxpayers funding anything.
Support for industrial policy and protectionism are supposed to help the working class. Instead, these ideas elevate the already privileged.
The company will now build everything in its existing Illinois factory, pausing construction on the Georgia plant until "later."
Commerce Secretary Gina Raimondo says more chip subsidies are needed, even before the Biden administration has distributed $52 billion or measured how effective that spending was.
It's part of the government's expensive public-private partnership meant to address concerns over a reliance on foreign countries, like China, for semiconductors.
The credit "is at best a break-even proposition and more likely a net cost" for the state.
Copper Peak revitalization was pitched as an economic development project for the Upper Peninsula, which already has two working ski jumps.
The credits cost the state over $1.3 billion per year with a 19 percent return on investment. Lawmakers' proposals will do little to change that.
Plus: the House votes for more affordable housing subsidies, Portland tries to fix its "inclusionary housing" program, and is 2024 the year of the granny flat?
The tax credits currently rank as the largest subsidy in state history.
The new libertarian president believes in free markets and the rule of law. When people have those things, prosperity happens.
It's taxpayers who lose when politicians give gifts, grants, and loans to private companies.
According to a report from Good Jobs First, St. Louis' public schools took the brunt of the loss at nearly 65 percent of the total.
The projects include $1.4 million for a charging station in a remote Alaskan community with barely 2,000 people.
That's bad news for Americans.
How much public money will be used remains unclear. The consensus answer seems to be "a lot."
The statistic, compiled by watchdog group Good Jobs First, only takes into account "megadeals" involving at least $50 million in subsidies.
The bulk of the employees may be able to find work elsewhere within the company, but the state could still be on the hook for the promised cash.
The program generates just 19 cents for every dollar spent.
According to a Treasury Department website, two of the three Cybertruck models currently offered would qualify for tax credits.
Vietnamese electric vehicle manufacturer VinFast has lost $5.8 billion in three years, during which time the state of North Carolina pledged $1.2 billion in state incentives.