The National Journal asks “How To Put Businesses' Cash Reserves In Play? The Federal Reserve confirmed on Friday that corporate America is still quietly sitting on $1.8 trillion in unspent cash and assets.” Grover Norquist responds: “Is this a trick question? Why would someone with $1.8 trillion or $1800 not want to invest in today’s economy? Several reasons: Barack Obama. Harry Reid. Nancy Pelosi. Barney Frank.”
ATR’s Chris Prandoni appears in The Daily Caller and offers us a great breakdown of the partisan proxy battle waged between Republicans and Democrats over the 1099 report requirements for small businesses and how that reflects the greater ideologies of both parties when it comes to taxes and the American economy.
Liberty.com highlights Grover Norquist’s response to President Obama’s recent speech on the economy in Cleveland,Ohio: “After battering the American economy with overspending for almost two years, Obama has decided to fix everything –with more spending… In year one Obama, Reid and Pelsosi wasted trillions of taxpayers’ money and the economy lost jobs. In year two, Obama, Reid and Pelosi have a new strategy … same as the old failed one … spend more of other people’s money.” Check out Grover’s full response and others here.
From SafeHaven.com, the financial blogger The Mogambo Guru highlights “Cost of Government Day” adding that, “ ‘Just two years ago, Cost of Government Day fell an astonishing 34 days earlier,’ which is a tax increase of 17.3% in two years! …A lot of this is due to, as USA Today reported Aug. 10 and The Washington Times reminds us, that ‘federal pay and benefits per employee now average more than twice that of private workers: $123,049 compared to $61,051.’ …An interesting sidebar is that ‘Federal salaries outpaced inflation in the past decade by 33 percent.’ ”