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Posted by on in Wyoming Issues
As the Supreme Court announced its ruling on Obamacare subsidies in King v. Burwell, an almost unanimous outcry rose from conservatives around the country. Somehow there was an expectation that the Court would rule that the federal government cannot pay subsidies to people for purchases of identified items. More specifically, the ruling that conservatives wanted would have said that the subsidies cannot be for purchases of the identified items (health insurance) in a store (health care exchange) that is not owned and operated by the federal government. 
 
Posted by on in Wyoming Issues

I am re-posting this story because so far it has not gotten nearly the attention it deserves.

Would you like the Chinese government to have access to your personal tax records? If not, please keep reading. From the Center for Freedom and Prosperity:

The Organization for Economic Cooperation and Development (OECD) is directing considerable resources toward development of a new framework for taxation of multinational enterprises. According to tax bureaucrats at the OECD, the G20, and finance ministers from large welfare states, base erosion and profit shifting (BEPS) is a serious problem that requires drastic action. Without input from the United States Congress and other elected national bodies, they are rushing to rewrite the rules of global commerce. Available data does not support the contention that BEPS is a serious concern. Nevertheless, the OECD’s sweeping proposals to combat BEPS would create a privacy nightmare and stifle economic growth. Even if there were a problem, better policy responses are available. The simplest and most powerful being adoption of pro-growth tax rates. To make sense of the sudden push for a massive, multinational undertaking where costs are likely to be significant and benefits small at best, if they exist at all, the OECD’s project on BEPS must be viewed in the context of the organization’s long-standing war on tax competition.

Posted by on in Wyoming Issues

Earlier this week, in an outlook toward the federal government's budget problems over the next few years, I outlined a troubling but entirely realistic scenario:

 

It is the spring of 2020. The U.S. economy is humming along at an unimpressive growth rate of a bit more than two percent per year. The federal budget has been running growing deficits for the past few years, and the forecast for 2020 is a deficit of $554 billion. Congress is borrowing more than eleven percent of every dollar it spends. Interest rates on Treasury bonds are at four percent, with forecasts predicting an upward trend for the rest of the year. Total unemployment, six percent, is steady and shows no tendency of shrinking. Almost 9 percent of America's youth are unemployed, with no decline in sight. A recession begins. Normally, this would be not be much of a problem. Normally, the American economy could ride it out - much like the Millennium Recession - and get back to business in 18-24 months. This time, though, it is going to be different. Painfully different.

 

Posted by on in Wyoming Issues

When the Colonies broke away from King George III and his British Empire, the driving force was to unshackle everyone, rich or poor, from the tyranny of an authoritarian monarchy. It is often, and rightly so, noted that American independence created an era of unprecedented entrepreneurial freedom. This in turn resulted in levels of prosperity unheard of in the Old World. Industrialization created jobs, opportunity and wealth for millions of Americans and encouraged countless immigrants to come and build their own bright future. 

Posted by on in Wyoming Issues

This is a serious matter that all Wyomingites need to pay attention to. From the Center for Freedom and Prosperity:

The Organization for Economic Cooperation and Development (OECD) is directing considerable resources toward development of a new framework for taxation of multinational enterprises. According to tax bureaucrats at the OECD, the G20, and finance ministers from large welfare states, base erosion and profit shifting (BEPS) is a serious problem that requires drastic action. Without input from the United States Congress and other elected national bodies, they are rushing to rewrite the rules of global commerce. Available data does not support the contention that BEPS is a serious concern. Nevertheless, the OECD’s sweeping proposals to combat BEPS would create a privacy nightmare and stifle economic growth. Even if there were a problem, better policy responses are available. The simplest and most powerful being adoption of pro-growth tax rates. To make sense of the sudden push for a massive, multinational undertaking where costs are likely to be significant and benefits small at best, if they exist at all, the OECD’s project on BEPS must be viewed in the context of the organization’s long-standing war on tax competition.

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