Dean Baker, co-founder of the Center for Economic and Policy Research, says Romney economic advisers Kevin Hassett and Glenn Hubbard got it all wrong in a Washington Post opinion piece published Wednesday.
Lowering marginal tax rates, as Hassett and Hubbard suggest, would do nothing to boost the economy, Baker writes in a commentary on econobytes.
“In short, it is difficult to see how the tax policy being promoted by Governor Romney will have much of a positive impact on investment and growth, especially if it is accompanied by further cutbacks in government spending. While the Obama administration’s stimulus policy was clearly inadequate to make up for the shortfall in demand created by the collapse of the housing bubble, Governor Romney’s plan is not likely to do any better,” Baker says.
No surprise that the founder of a progressive think tank would differ from the Romney camp. Nonetheless, Baker offers an interesting counterpoint to the Hassett-Hubbard suggestion that lower marginal tax rates are need to boost business investment.
Revenue and volume have returned to pre-recession levels, driven by an improving economy, consumer confidence and product innovation, the council said in its annual industry review for Wall Street analysts.
“These results show that the hospitality industry is helping drive the national recovery and job creation, but it remains critical that legislators don’t derail future economic growth through higher taxes,” said Cressy.
Job creation is showing some improvement, but millions of Americans are still out of work. To help job seekers find work, the global outplacement firm Challenger, Gray & Christmas Inc. will again offer free job-search advice to unemployed workers.
The firm’s 26th annual national job-search call-in will be held Dec. 27 and 28 from 9 a.m. to 5 p.m. on both days.
Just back from vacation and still catching up on local company news, but a Forbes story on Alcoa Inc.’s recent reorganization of its midstream businesses caught my eye.
“Aluminum demand is on the rise, primarily driven by the increased usage in the automotive and aerospace industries globally as manufacturers push to make lighter, more fuel efficient vehicles. Aluminum is also witnessing huge demand from its usage in electronics and household items,” Forbes says.
Despite the still sluggish recovery, Alcoa apparently sees good times coming and it wants to be ready when the economy rebounds. In any event, the announcement has me wondering what impact — if any– the reorganization will have on the company’s Blount County operation.
Ruby Tuesday’s stock price has been on a downward spiral since the first of the year as the recovery has slowed and higher gasoline prices have taken a bite out of consumer budgets.
But there is reason to expect better times ahead for the Maryville, Tenn.-based company.
“Chains like The Cheesecake Factory Inc., Cracker Barrel Old Country Store Inc. and Ruby Tuesday Inc. could benefit from the return of business travel,” the Associated Press reported today, citing two Keybanc analysts.
Job prospects for new college graduates are the best they’ve been in years, global outplacement consultancy Challenger, Gray & Christmas Inc. says in a report released today.
Competition for entry-level positions will be tough, but companies are hiring again.
“Entry-level hiring has not returned to pre-recession levels, but this year’s graduates should find markedly improved job-search conditions. Colleges and universities around the country are reporting increased on-campus recruiting and surveys of employers indicate more graduate hiring, as companies rebuild their bench-strength after massive layoffs during the downturn,” Challenger, Gray CEO John A. Challenger said in a news release.