After the debacle of electricity deregulation and Enron, you'd think states wouldn't be rushing to hand consumers over to the unregulated mercies of another industry. But Kentucky is joining the trend of states ending almost all price limits for retail customers of telephone service.
State governments offer businesses tens of billions in tax incentives each year to invest in their states-- corporate subsidies that many advocates see as wasteful giveways but that others see as a lifeline for their communities.
But the political debate could be irrelevant if the Supreme Court upholds a lower court's decision which declared an Ohio subsidy program unconstitutional.
Challengers to the Ohio tax system cite the "negative Commerce C
North Carolina was the first state to pass a law reining in shady predatory lending practices, such as steep prepayment penalties, balloon payments and the sale of high-cost loans to borrowers who could qualify for lower rates. Soon a number of other states followed with similar laws and the result, according to a new study, is that homeowners now save $9.1 billion per year.
But a proposed federal law sponsored by Ohio Reps.
The right-of-center British newsmagazine The Economist had made it clear what many of the Gross Domestic Product's critics have known for some time: GDP, while a useful metric, can also offer a "Grossly distorted picture" of the economy.
How is that?
Well, as The Economist notes, GDP fails for a number of reasons. For one, it considers the amount of growth occuring within a nation's borders, not the amount of growth happening to a nation's citizens.
We live in a global economy where corporations have little loyalty to maintaining decent paying jobs in the United States. Failed policies of corporate welfare and tax subsidies to the already wealthy do little but accelerate job flight and growing economic inequality.