Tag Archives: business

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Individuals, not government, fixing discrimination in Philly

The city of Philadelphia is pushing new rules to fight discrimination. Eleven bars in the Gayborhood, the city’s LGBT hotbed, will be required to participate in fair business practice training and implicit bias training. The bars will also be required to post fliers made by the city’s Human Relations Commission about the city’s fair practice ordinance.

These efforts come as a response to a report released by the city in January, which found that women, minorities and transgender people have been discriminated against in the Gayborhood for decades. The city’s heavy-handed approach, while well-meaning, adds yet another expense and burden to local businesses. Mandating these implicit bias trainings will take workers away from their actual productive duties and force the bars to pay employees to attend diversity training sessions that have largely been found to be ineffective.

Meanwhile, residents of Philadelphia are doing a better job of preventing discrimination than the city’s government. Individuals and the market have already acted to scale back the level of discrimination in the Gayborhood, before the government ever could.

Continue reading at Watchdog.

Red Tape 1

Congress Needs to Help Millennial Entrepreneurs

Millennials have been called the start-up generation, but few young Americans have followed through on their entrepreneurial dreams. About two-thirds of millennials want to work for themselves. Yet, less than 4 percent of private businesses are at least partially owned by someone under the age of 30—the lowest annual proportion on record.

Government policy, particularly in regards to regulation, ignores the realities of a 21st century economy and continues to hold back millennials’ economic opportunity. Congress has granted executive and independent agencies freedom to regulate with minimal oversight, and these agencies consistently understate the costs that their pronouncements place on young Americans.

It is impossible to know the full costs of America’s 175,000-page Code of Federal Regulations because executive agencies refuse to take count. For example, during 2014 only 16 of the over 3,500 rules published in the Federal Register had a cost analysis.

Read the rest on Economics 21, here.

trump5

More Economic Nonsense from Trump

Railing against corporations that leave America to relocate to another country is a winning tactic. Republican presidential candidate Donald Trump has fully endorsed this strategy during his stump speeches. When speaking about American business expats, he recently told supporters at a campaign rally in New Hampshire, “You can tell them to go f*** themselves.”
Many economic factors, stretching from labor costs to regulatory burdens to foreign demand, have led U.S. companies to move some or all of their operations out of America. But one of the main causes, especially when it comes to relocating a corporation’s headquarters abroad, is America’s internationally uncompetitive corporate-tax system.

Read the rest on National Review, here.

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Who Will Take the Helm of Puerto Rico’s Sinking Ship?

All things must come to an end. Thankfully, that includes Puerto Rican Governor Alejandro García Padilla’s disastrous term in office.

In a press conference on Monday, García announced he would not run for a second term as governor, representing the Popular Democratic Party (PPD). He plans to spend the rest of his term working toward a solution to the ongoing fiscal, economic, and political crises that the territory faces.

This was a widely expected move. The governor’s support has faltered as the island’s troubles have worsened. In late November, Reuters reported that PPD mayors have increasingly abandoned the governor. Realistically, any governor facing a crisis of this magnitude, and not spectacularly succeeding at fixing the problems, would face pressure for a change. García is no different.

 

Read the rest on the PanAm Post here.

Pfizer

Corporate taxes stink, not Pfizer-Allergan deal

For pharmaceutical giant Pfizer, the grass really is greener on the other side.

The American company recently announced plans to merge with Allergan, a smaller Irish company, a move that would allow it to relocate its corporate headquarters to Dublin. The $160 billion deal will allow Pfizer to avoid punitive American corporate taxes in favor of the much lower levies of the Emerald Isle.

The merger, structured as a much-derided “inversion,” has drawn criticism from proponents of high corporate taxes such as Democratic presidential candidate Hillary Clinton. She complained that companies like Pfizer “are leaving America to cut their taxes when they should be staying here and investing in the people and the opportunities that will build out economy.”

Read the rest on CapX here.