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Growing Economy

TX: Electricity Deregulation's Failure

Nathan Newman on March 20, 2006 - 12:02pm
Despite the Enron debacle, Texas was one of the states that barrelled ahead with price deregulation of electricity rates. And the results have not been kind to Texas consumers:
Under electricity deregulation, Texans have paid some of the highest rates in the nation -- a reversal of at least a decade of relatively cheap electricity under the state's old regulated system.
A burst of new studies have compared changing electricity rates in states that opted to end regulation and those that did not.And the consensus i

KY: Deregulating the Telcos

Nathan Newman on March 16, 2006 - 9:43am
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.

AZ: Tax Revolt Worries Business Groups

Matt Singer on March 3, 2006 - 1:59pm
Some riled up Arizonans are working on property tax cap that appears to go even further than California's notorious Proposition 13.

Supremes May Kill State Corporate Tax Subsidies

Nathan Newman on March 1, 2006 - 9:26am
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

Federal Bill to Gut Anti-Predatory Lending Laws

Nathan Newman on February 27, 2006 - 12:54am
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.

Looking Beyond GDP

Matt Singer on February 20, 2006 - 2:18pm
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.

Economic Growth

admin on February 10, 2006 - 12:17pm
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.