Ten things that will result from the financial crisis…they are not really changes, just going back to the way things should have and use to be done.

Ever wonder which state is the best for having a business? Here are the rankings. Texas, Virginia, Utah, Idaho and Colorado top the list.

American Workers Suffer as US becomes home to highest corporate taxes in World

According to a new study from the Tax Foundation the U.S. ranks second in the World, trailing Japan for having the highest corporate taxes. On a more disturbing note 24 states ranked higher than Japan on the list. Iowa having the highest corporate tax rates in the World at 41.6%

States known for their fairly low state-level corporate tax rates such as Nevada , South Dakota , and Wyoming was still higher than France and 25 other countries at 35%

32 states have a combined corporate tax rate higher than third-ranked Germany , 46 states higher than fourth-ranked Canada and all 50 states were higher than fifth ranked France .

This could be one of the reasons for a failing economy. It is definitely a reason for jobs leaving the US .

“This is startling news for America ’s business and workers,” said Tax Foundation president Scott Hodge. “Tax competition for jobs and investments is fierce, and the US continues to fall further and further behind. Our states should be the world’s leaders in many things, but high taxation should not be one of them. The high federal corporate tax rate is literally crushing states’ competitive abilities. That means fewer jobs for American workers.”

Don’t expect this new study to get much play in the mainstream media. Why? Well because taxes are boring, and stories like Obama and his pastor, or a real good sex scandal will always get better ratings than taxes. Plus the media really just doesn’t want you to know or understand these things. It goes directly against the liberal agenda that we need higher taxes on evil corporations.

This study rejects that idea and shows that a lot of US states are taxing the providers of jobs higher than any other developed country in the world. Anyone who knows the slightest thing about economics will immediately see this could be a problem.

Those who have read my writing for a while know I have always made the claim workers suffer the most when their employers are forced to pay high corporate taxes, but don’t take my word for it. In a related study the Tax Foundation found workers bear 70% of the burden of corporate income taxes.

You want to bring jobs back to America ? You want to revive the economy? Here is a crazy idea, how about the FairTax? It would make the US corporate tax system the most competitive in the world by eliminating it. Imagine how many jobs would flock to America if there were no corporate taxes.

Who says we're in a recession and what exactly is it?

In just the last few months, the economy has become the topic of many conversations. The word recession has been used 141 times in the Congressional Record this year and it is only May. Even presidential hopeful John McCain said Monday he believes the country is in recession, adding “these are very, very tough times in America.”

So what exactly constitutes tough times in America, and what exactly is a recession? Are we really in a recession?

If you were to take an economics class you would learn that a recession is a decline in a country's real gross domestic product or negative real economic growth, for two or more successive quarters of a year. That is the text book definition.

So if you go by the text book definition, we are not in a recession. We have come close to the text book definition, but not quite there.

Of course the text book definition isn't good enough to determine if we are in a recession or not. In the US we have something called the Business Cycle Dating Committee of the National Bureau of Economic Research. This seven person panel is who decides whether the US is in a recession or not. I guess the text book definition was not good enough.

Anyways, it turns out that three members of this committee are also contributors and advisors to either John McCain and Barack Obama.

So why is this such a big deal? Well, because right now the economy is the number one issue on the campaign trail, and America goes into “economical shock” when they here the word recession. Knowing that, do you suppose there might be some political motivation for and against labeling the economy in a recession? I think so. No political party has ever retained the presidency when the country was in recession. It would be safe to say John McCain has a lot riding on this panel.

Of course the members of the panel promise us their political considerations do not enter into their calculations. Uh....sure...advisors to political campaigns would never have political considerations.

Big T's Suggestested Reading and Viewing from around the web.

According to a newspaper in Britain the US is now in a Great Depression…It isn’t that bad yet…hard times are a coming though.

She bought a website for $8 and turned it into a million-dollar business . Not bad for a 17-year-old. Great story.

Now Mother Hillary wants to help you make your house payment. She wants a $30 billion housing fund, with 10 billion going toward refinancing “unworkable mortgages.”

When there is financial and economical doom on the horizon the solution is always government, government and more government. Yeah...that should work.

US Treasury Secretary Henry Paulson is arguing against government intervention to the mortgage crisis. He says their ideas would cause more harm than good…He is right, but try to explain it to the government educated economically illiterate Americans who believe government always has the solution.

The economy is so bad right now people are cutting back from Starbucks and eating out…We are so damned spoiled in America ! We really have no concept of what a poor economy is…but stay tuned because we are about to find out.

The Financially and Economically Illiterate

I got into a conversation about the economy with some friends last night. One thing everyone agreed on was the economy is in a slump and doesn’t look like it is going to recover anytime soon.
Everyone had some pretty educated ideas about the cause and solutions to help the economy. However, there seems to always be one in every group that just doesn’t quite get it.

My liberal friend says (yes, I have liberal friends) the economical fall out is a direct result of the Bush Administrations Tax Cuts and they should be eliminated. He says we should also raise taxes on the rich and corporations, especially oil companies and give that money to the middle class who desperately needs it and deserves it. (No he is not Barack Obama)

My friend then went on to explain that when Obama is president he should just print more money so more would be available. He is definitely a product of government schools.

I really don’t have time right now to explain why this is one of the most economically illiterate ideas ever, but then I also assume readers of this blog share an intelligence level higher than most and may actually understand economics.

This is why we are headed towards a recession, because people in this country are financially and economically illiterate.

Here comes the government mortgage bail out. Democrats are now calling for the federal purchases of distressed mortgages. One Dem. says, if the president continues to insist that we don't do anything beyond hope we're going to have a longer economic problem…I thought hope was good???

If the economy sucks, why is Wal-Mart thriving?

Anheuser-Bush Corp is going to open four theme parks in Dubai including a Sea World, Aquatica, Busch Gardens and Discovery Cove.