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The 20 day State of MN government shutdown this July cost MN $60 million in lost revenue but saved about $65 million n salaries not paid, according the MN Management and Budget Department. Of course, the report failed to look…
The annual US turkey crop of 248 million birds (7.1 billion pounds, or 23 pounds/person) is worth $4.4 billion. MN produces the most birds followed by NC, AR, and MI. The US produces about 750 million pounds (2.5 pounds/person) of…
US birth rates fell for the 3rd straight year in ‘10 according to the CDC. Teen births saw the biggest decline, 9%, to 43.3 births/1,000 females, the lowest rate ever. And, for the 1st time in a decade cesarean section…
Mutual funds (MFs) must get 90% of their income from stocks, bonds and traditional securities. To bypass this, MFs that invest in derivatives and commodities set up shell corps in the Caymans to do it. They then sell shares in…
The Friday File: Tall men make more money than short men, about $1,000/ year for each inch they are above average. 3 smart economists (are there any other kind?) from the Univ. of PA explain why. They find that men…
The biggest civic bankruptcy in America is official with Jefferson County, AL (Birmingham, AL) filing for Chapter 9 last week. Harrisburg, PA had held this dubious honor. The full impact of the filing will not be known until a judge…
With barely a week before the deficit reduction panel must make its recommendations to Congress, and with little hope of success, bank on the goalposts being moved! If the Panel totally fails, expect Congress to pass a law canceling the…
If Congress does not extend the temporary Social Security payroll tax cut on employees of 2% (from 6.2% to 4.2% on the first $106,800 of income) beyond the end of ’11, that would cut about $120 billion off GDP. And,…
NBA Players are proposing a 53%-47% split of revenues while owners want a 50%-50% split. Each 1% is worth $40 million and since the contract is for 6 years, that $720 million. Not chump change. But, it also means a…
The inheritance tax hurts the poor by encouraging the rich to overspend because they can’t leave it all to Junior. This tax-avoidance induced spending on jets, boats and lavish parties reduces the money available for new plant and equipment. Look,…