1. Reducing Income Inequality Doesn't Grow Our Economy, But Growth Would Reduce Inequality - by Andy Puzder via Forbes
After seven years of anemic economic growth, working class Americans are facing limited job opportunities, stagnant wages, a diminishing middle class and, as a consequence, increasing income inequality. The obvious way to reverse this trend would be to encourage the private sector growth necessary to create good paying jobs.
But, Hillary Clinton wants to use government compulsion to artificially create the benefits of robust economic growth (including reduced income inequality) without any actual economic growth. Clinton’s website contains a section titled “Five important steps Hillary Clinton will take to reduce inequality and grow our economy.” Even the title puts the (income inequality) cart before the (economic growth) horse. But her policies would actually focus on reducing inequality at the expense of growth and, in the process, fail to achieve either goal. Read more here...
Obama is proposing a new regulation that would give a huge payday to his trial lawyer buddies. This regulation makes it easier for liberal trial lawyers to file big class action lawsuits, so they can make more money to donate to liberal causes.
And if that’s not bad enough this regulation ensures that actual victims get less money, while Obama’s liberal friends get rich. Don't let that happen.
2. Budget Deficit for FY 2016 Higher Than Originally Projected - by Jason Pye
The Congressional Budget Office (CBO) has revised its budget deficit projection for FY 2016 upward, according to a recent report. In March, the nonpartisan fiscal agency projected that the budget deficit for the current fiscal year would reach $534 billion, a 22 percent increase. The latest projection shows that the budget deficit for FY 2016 will rise to $590 billion, or a nearly 35 percent increase.
The federal government, in the first ten months of the fiscal year, received in $2.678 trillion in revenue and spent $3.193 trillion. Individual income taxes and payroll taxes represent 78 percent of all federal receipts. Individual income tax receipts are actually down marginally, less than 1 percent, from FY 2015. Corporate income taxes receipts, nearly 9 percent of all federal revenues, are down by 13.6 percent from the previous fiscal year. Read more here...
FreedomWorks' Book Club Spotlight: "Our Lost Constitution: The Willful Subversion of America's Founding Document"In Our Lost Constitution, Senator Mike Lee tells the dramatic, little-known stories behind six of the Constitution’s most indispensable provisions. He shows their rise. He shows their fall. And he makes vividly clear how nearly every abuse of federal power today is rooted in neglect of this Lost Constitution. Get your copy here...
3. The FDA's New Overreaching Regulations on Vaping Products Harm Public Health and Destroy Innovative Small Businesses - by Kenny Stein
On August 8, the Food and Drug Administration’s (FDA) new rules on vaping products go into effect. Federal law gives the FDA the power to regulate “tobacco products,” and the new rules cover a long list of products that the FDA is now deeming tobacco products. In a leap of logic that only a regulator could understand, the FDA will apply its “tobacco” regulations to products that do not contain tobacco, such as e-cigarettes and other vaping products. How can this be possible? Well in the mind of a regulator in Washington, the idea that a product or activity might not be subject to regulation is a foreign concept.
The Tobacco Control Act of 2009 gave the FDA regulatory authority over tobacco products, specifically listing obvious candidates like cigarette tobacco and smokeless tobacco. For additional tobacco products, the law gave the FDA the power to “deem” other types of tobacco as subject to tobacco product regulations. In May 2016, the FDA announced the list of products they now will be deeming tobacco products, including a number of e-cigarette and vaping products which do not contain tobacco. Read more here...
4. FreedomWorks Foundation Drives More Than 21,000 Responses on New Rules Proposed by the Department of Education
FreedomWorks Foundation drove more than 21,000 responses against new rules proposed by the U.S. Department of Education that would implement parts of the Every Student Succeeds Act (ESSA) that was passed by Congress in December 2015 and signed into law by President Barack Obama. The comment period for the proposed rules ended on Monday, August 1.
State education officials have decried the proposed rules as overly prescriptive. As noted in multiple hearings conducted by Sen. Lamar Alexander (R-Tenn.), the proposed rules leave a loophole open that could allow the federal government to resume trying to impose Common Core on the states contrary to the intent of the ESSA.
“The response from our activists shows that the American people are ready and willing to hold federal regulators accountable. Through the tools provided by FreedomWorks Foundation, our grassroots activists have made clear that these regulations seeking to circumvent federal law are unacceptable,” said Ken Cuccinelli, general counsel of FreedomWorks Foundation’s Regulatory Action Center. “The Department of Education should take the hint and leave control of education decisions with the states.” Read more here...
5. Regulator-In-Chief: Obama Administration Has Issued 600 Regulations with Costs of $100 Million or More - by Jason Pye
Near the very end of President George W. Bush's second term in January 2009, economist Veronique de Rugy challenged the assertion by then-President-elect Barack Obama that the two-term Republican had "take[n] a hands-off approach to regulation." De Rugy lamented that the Bush administration, in fact, took a relatively heavy-handed approach to regulation.
"Some people still seem to think Republicans take a hands-off approach to regulation, probably because the party is always quick to criticize the burdens regulations place on businesses. But Republican rhetoric doesn't always match Republican policy," De Rugy explained. "In 2007, according to Wayne Crews of the Competitive Enterprise Institute, roughly 50 regulatory agencies issued 3,595 final rules, ranging from boosting fuel economy standards for light trucks to continuing a ban on bringing torch lighters into airplane cabins. Five departments (Commerce, Agriculture, Homeland Security, Treasury, and the Environmental Protection Agency) accounted for 45 percent of the new regulations." Read more here...
Communications Director, FreedomWorks