John A. Parnell, Ph.D.
Calls to increase the minimum wage have returned. This time Jessie Jackson, Jr. claims to be the compassionate one, proposing an immediate increase from $7.25 to $10 per hour. The fact that a nice round number like $10 is supposed to be the perfect minimum wage tells us that this proposal is not the result […]
Read MoreThe latest piece of proposed government intrusion into American business is the so-called Paycheck Fairness Act. The problem this bill purports to solve is the alleged discrepancy between the wages of men and women in the U.S. workforce. Across the board, women earn 77% of what men earn in “similar jobs.” Based on this statistic–it’s questionable […]
Read MoreThere are two things we know about the upcoming presidential election: (1) Obama will not talk much about real economic problems and (2) class warfare will be central to his reelection rhetoric. Nothing illustrates this reality like Bain Capital. From a political perspective, Bain is both Romney’s greatest strength and his greatest weakness. The Democrats […]
Read MoreThe Wall Street Journal reported something very interesting about GM last week. http://online.wsj.com/article/BT-CO-20120516-718162.html GM claims it can’t be sued for punitive damages related to product liability issues–cars with defects–before the bailout because the “new GM” can’t be held responsible for something the “old GM” did. By allowing only compensatory damages, most potential plaintiffs will not find […]
Read MoreObesity is a health challenge in the United States. According to the Institute of Medicine, “fighting obesity will require changes where Americans live, work, play and learn.” So-called walkable neighborhoods, zoning limits on fast-food restaurants, stricter government regulations on marketing foods, and taxes on sodas are among the recommendations in a recent IoM report. I […]
Read MoreGM exported the first Chevy Volts to China earlier this year. A PR video Faces of GM touts the electric vehicle as a perfect fit . The subtle message is that the newly restructured, profitable GM is–thanks to the bailout–actually creating American jobs by exporting cars to China. But there’s a lot GM is not […]
Read MoreWe are told that May Day is an international day of celebration. I spent May 1 on the west coast this year and witnessed no celebrations, only a few marches and signs. Three of them caught my eye. 1. “We demand our rights.” Somehow I suspect that the guy carrying the sign wasn’t sure what […]
Read MoreAccording to a U.S. government report, the Social Security “trust fund” will run out of cash in 2033, three years earlier than the most recent forecast. Anyone paying attention to this demise understands the importance of saving for his or her own retirement. Most Americans include an individual retirement account (IRA) or 401(k) a part […]
Read MoreDon’t look now, but Argentina wants to be the next Venezuela. Leftist President Cristina Kirchner has been leading the charge since her election in 2007. It started with a mix of populism and protectionism. For example, Kirchner reinstated el impuestazo (The Big Tax) in 2009, doubling the value-added tax (VAT) on imported electronics. Her administration […]
Read MoreI have criticized Obamacare on Constitutional, moral, and economic grounds. However, I am often asked about the alternatives. I’ll discuss 4 options here, although the possibilities are endless: 1.Single payer. Everyone pays more in taxes and the federal government provides every American with insurance. Personal control over health care decisions would erode under such a […]
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