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Economy – Page 3 – Pacific Research Institute

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Massachusetts Fails to Learn the Lesson of the “Success” From California’s AB 5

The top court in Massachusetts shut down a gig work ballot measure last week in a litigation battle brought on by opponents of independent contracting work. The ballot measure, that was anticipated to pass with over 80% of Uber and Lyft drivers in support in opinion surveys, would have classified ...
Blog

Despite Sunday Late Night Tax Rebate Deal, Gas Tax Still Going Up

Gov. Gavin Newsom and the Legislature’s Democratic leaders announced Sunday that they had finally reached agreement on a tax rebate plan.  How to give Californians relief from high gas prices and rising inflation had been a key sticking point holding up the budget’s enactment. The unusual release of the plan ...
Business & Economics

Rounding Up The Usual Suspects Won’t Alleviate Inflation

Doing his best Captain Renault impersonation, President Biden is trying to alleviate the troubling inflationary environment by “rounding up the usual suspects”. In this case, that means blame a problem that can only be caused by errant government policies on politically convenient targets such as rising drug prices, Russia’s invasion of the ...
Business & Economics

Handcuffing Freelancers Is Bad For Economy And Small Business

Addressing the persistent problem of inflation requires pro-growth fiscal and regulatory policies in addition to concerted tightening by the Federal Reserve. Unfortunately, President Biden’s plan to address inflation, as outlined in his recent Wall Street Journal editorial, would implement the exact opposite. Instead of empowering entrepreneurs to accelerate growth and improve prosperity, ...
Business & Economics

Here’s why gas prices could skyrocket again

We’re all looking for relief from record-high gas prices these days. Gas prices are the highest in the United States history at a nationwide average of $4.59 as of May 19, according to AAA. Many states surpass this average with California at $6.050, Nevada at $5.224, Washington at $5.148, and ...
Agriculture

Beating Back Inflation: Team Reagan vs. Team Biden

Last week, the U.S. Labor Department reported that the consumer price index (CPI), a broad measure of the prices for everyday items like groceries, rents, and gas rose 8.3 percent in April from a year ago, just below March’s surge of 8.5 percent. Could this be a sign that inflation ...
Blog

China Cuts Taxes, U.S. and California Want to Raise Them

Tax cuts are the “fertilizer applied to the roots of the economy.” That’s not Arthur Laffer talking, but China Premier Li Keqiang.  Last month, China’s Finance Ministry announced that it would cut income taxes for small companies from 25 percent to 20 percent to boost the communist country’s slowing economy. ...
Blog

State Budget Update: Senate Democrats Want to Spend More as Analyst Warns About Higher Spending

While Democrats fought amongst themselves over gas tax relief last week, attention is now shifting to next week’s release of Gov. Newsom’s “May Revise” updated budget plan. In advance, Senate Democrats put down their marker, unveiling their gas tax relief plan called the “Better for Families Rebate” as part of ...
Blog

Don’t Spend Your Gas Tax Rebate Yet . . .

Not much progress has been made in the effort to enact a gas tax rebate or gas tax holiday since lawmakers and Gov. Newsom released competing proposals last month. Californians have been waiting for Sacramento to take action to provide relief from gas prices that, even though may have dipped ...
Agriculture

A Response to the “Bloomberg Doomers”

Last month, Bloomberg published  a now-infamous op-ed titled, “Inflation Stings Most if You Earn Less Than $300K. Here’s How to Deal”. Professor Teresa Ghilarducci suggests that to curb inflation, we should eat lentils instead of red meat and let our pets die instead of going to the vet. The advice ...
Blog

Massachusetts Fails to Learn the Lesson of the “Success” From California’s AB 5

The top court in Massachusetts shut down a gig work ballot measure last week in a litigation battle brought on by opponents of independent contracting work. The ballot measure, that was anticipated to pass with over 80% of Uber and Lyft drivers in support in opinion surveys, would have classified ...
Blog

Despite Sunday Late Night Tax Rebate Deal, Gas Tax Still Going Up

Gov. Gavin Newsom and the Legislature’s Democratic leaders announced Sunday that they had finally reached agreement on a tax rebate plan.  How to give Californians relief from high gas prices and rising inflation had been a key sticking point holding up the budget’s enactment. The unusual release of the plan ...
Business & Economics

Rounding Up The Usual Suspects Won’t Alleviate Inflation

Doing his best Captain Renault impersonation, President Biden is trying to alleviate the troubling inflationary environment by “rounding up the usual suspects”. In this case, that means blame a problem that can only be caused by errant government policies on politically convenient targets such as rising drug prices, Russia’s invasion of the ...
Business & Economics

Handcuffing Freelancers Is Bad For Economy And Small Business

Addressing the persistent problem of inflation requires pro-growth fiscal and regulatory policies in addition to concerted tightening by the Federal Reserve. Unfortunately, President Biden’s plan to address inflation, as outlined in his recent Wall Street Journal editorial, would implement the exact opposite. Instead of empowering entrepreneurs to accelerate growth and improve prosperity, ...
Business & Economics

Here’s why gas prices could skyrocket again

We’re all looking for relief from record-high gas prices these days. Gas prices are the highest in the United States history at a nationwide average of $4.59 as of May 19, according to AAA. Many states surpass this average with California at $6.050, Nevada at $5.224, Washington at $5.148, and ...
Agriculture

Beating Back Inflation: Team Reagan vs. Team Biden

Last week, the U.S. Labor Department reported that the consumer price index (CPI), a broad measure of the prices for everyday items like groceries, rents, and gas rose 8.3 percent in April from a year ago, just below March’s surge of 8.5 percent. Could this be a sign that inflation ...
Blog

China Cuts Taxes, U.S. and California Want to Raise Them

Tax cuts are the “fertilizer applied to the roots of the economy.” That’s not Arthur Laffer talking, but China Premier Li Keqiang.  Last month, China’s Finance Ministry announced that it would cut income taxes for small companies from 25 percent to 20 percent to boost the communist country’s slowing economy. ...
Blog

State Budget Update: Senate Democrats Want to Spend More as Analyst Warns About Higher Spending

While Democrats fought amongst themselves over gas tax relief last week, attention is now shifting to next week’s release of Gov. Newsom’s “May Revise” updated budget plan. In advance, Senate Democrats put down their marker, unveiling their gas tax relief plan called the “Better for Families Rebate” as part of ...
Blog

Don’t Spend Your Gas Tax Rebate Yet . . .

Not much progress has been made in the effort to enact a gas tax rebate or gas tax holiday since lawmakers and Gov. Newsom released competing proposals last month. Californians have been waiting for Sacramento to take action to provide relief from gas prices that, even though may have dipped ...
Agriculture

A Response to the “Bloomberg Doomers”

Last month, Bloomberg published  a now-infamous op-ed titled, “Inflation Stings Most if You Earn Less Than $300K. Here’s How to Deal”. Professor Teresa Ghilarducci suggests that to curb inflation, we should eat lentils instead of red meat and let our pets die instead of going to the vet. The advice ...
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