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As explained here, "[a] New York state [trial] judge on Monday [March 11, 2013] threw out a ban on large sugary drinks set to go into effect in New York City on Tuesday, calling the new regulation 'arbitrary and capricious.'” The decision is here. We have posted about the ban many times, including here, here, here, […]
Phil Izzo explains here that "[a]ccording to the [Labor Department's] household survey, which is where the unemployment rate comes from, there are nearly 950,000 fewer people employed by the government than there were when the recovery started in mid-2009. If none of those people were counted as unemployed, the jobless rate would be 7.1%, compared […]
In time for Sunshine Week, the Center for Effective Government has issued this report on how the Obama Adminsitration is doing in meeting its pledge to be "the most transparent administration in history." According to the Center, there's good and bad. Here's a synopsis: The Obama administration has dedicated more effort to strengthening government transparency […]
by Brian Wolfman Federal prescription drug oversight was significantly deregulated by the Food and Drug Modernization Act of 1997 (FDAMA), which was signed by President Clinton on November 21, 1997. Among other things, section 127 of FDAMA eliminated FDA authority over drug compounding companies, leaving regulatory oversight to state law. In theory, compounding involves only the […]
In the new tax law that went into effect on January 1, capital income tax rates on certain high-income taxpayers went from 15% to 20%. When you add in the new 3.8% Medicare surtax on net investment income, which includes capital gains, you get an overall 23.8% capital income tax rate for high-income taxpayers. (High-income […]
According to its sponsors — dozens of consumer groups and government agencies — "National Consumer Protection Week (NCPW) is a coordinated campaign that encourages consumers nationwide to take full advantage of their consumer rights and make better-informed decisions. NCPW 2013 will take place March 3 through March 9, 2013." Go to this comprehensive website for […]
Maybe this is slightly off-topic here, but I have an opinion piece up at The Huffington Post reacting to Attorney General Eric Holder's bombshell too-big-to-jail comments yesterday. If you haven't heard, Holder told the Senate Judiciary Committee that some banks may be too big to prosecute, and Congress should consider doing something about it. In case you missed it, […]
by Brian Wolfman Under the Fair Credit Reporting Act, consumers are entitled to annual free credit reports from the three mega-credit reporting companies — Experian, Trans Union, and Equifax. That's good because it gives consumers a chance to see their reports and try to get them corrected when they are wrong. (And they are often […]
We have posted repeatedly on increasing income and wealth inequality in the United States (for instance, go here, here, and here). It turns out that not only is wealth inequality increasing, but Americans believe that wealth inequality is a lot less pronounced than it actually is. Watch this powerful presentation here or by cllcking on […]