A new report from the Government Accountability Office says that although the USDA has gotten better at not paying out farm subsidies to dead farmers, it’s still forking out millions of dollars to the dearly taxpayer-dependent departed:
Federal tax policies are a powerful factor in encouraging or impeding business investment, job creation, and international competitiveness. For small businesses and growth companies, capital gains taxation plays a particularly important role.
Why have so many individuals and businesses left Detroit? Presumably, for all kinds of reasons, including crime and political corruption.
The importance of infrastructure investment for U.S. economic growth is widely appreciated. But policy discussions often get sidetracked by a debate regarding the level of federal spending. To spur growth, it is more important to ensure that investment is as efficient as possible and that investment responsibilities are optimally allocated between the federal government, the states, and the private sector.
In a recent op-ed for the Indianapolis Star I discussed the symbiotic relationship between federal and state government when it comes to doling out corporate welfare subsidies. The focus was primarily on Indiana, but the issue is a national concern.
The Indianapolis Star’s July 21 investigation of a contractor hired by the Indiana Economic Development Corporation to select companies to receive taxpayer handouts is further evidence that a separation of commercial interests and state is needed. For that to happen, however, the states will need to separate themselves from the federal money that perpetuates “crony capitalism.”
After a bit of a false start last week, it sounds again like the Senate is on the brink of a bipartisan compromise that will link rates on federal student loans to overall interest rates. Given all the hubbub that’s surrounded the loans, that’s big news. Given the actual change that would take place, it’s tiny.
Belatedly, I’ve come across the review by Jonathan Martin of Politico of the book Act of Congress: How America’s Essential Institution Works, and How It Doesn’t by Robert Kaiser, a 50-year reporter and editor at the Washington Post. What struck me was that both of these very knowledgeable Washington journalists seem very clear-eyed about the deficiencies of the legislative process, and yet their understanding doesn’t cause them to question the idea of having government manage every facet of our lives.
Whenever Republicans attempt to cut spending for some social welfare program or another, Democrats are quick to claim that it is not unaffordable spending that the Republicans dislike, but poor people. By passing the farm bill this week — after stripping out spending for the food stamp program — House Republicans showed that that stereotype is largely true.
The “new” farm bill (with food stamps jettisoned because “conservatives” object to what they see as lavish welfare spending) passed the House today on strictly partisan terms, 216-208 (roll call), with a mere 12 brave Republicans voting no.