STATE OF THE UNION
CEI State of the Union Live Blog 2013
On Tuesday evening, Competitive Enterprise Institute staff live-blogged President Barack Obama's 2013 State of the Union address. Experts on immigration, communications, banking and finance, energy and the environment, labor, consumer issues and more reacted in real time to the president’s remarks.
ECONOMY & FINANCE
John Berlau: John F Kennedy cut personal and corporate tax rates to fuel the 60s boom. Mr. President, you're no Jack Kennedy!
John Berlau: Obama is right to praise Congress for passing "part of" his American Jobs Act, because Congress passed the right part. The modest but significant deregulatory provisions for startup and emerging growth companies. The Jumpstart Our Business Startups (JOBS) Act that Obama signed in April exempts newly listed companies from some onerous Sarbanes-Oxley and Dodd-Frank provisions for five years. We've seen a slight uptick in initial public offerings as a result. May we build on this bipartisan deregulation.
May Obama also prod the SEC to stop delaying provisions of that bill that would lift barriers to crowdfunding, allowing sites like Kickstarter to allow equity shares in projects as well as trinkets.
CEI: On refinancing, once again Mr. President, it's not the sequester that scares wise investors. It's the schemes from you and other politicians (including Republicans) that treat investors as "the forgotten man." Losses to investors, including 401(k)s from similar refinancing proposals have been estimated to be $13 billion to $15 billion. This could eat away any stimulus from the extra money borrowers have due to lower interest payments, the stimulus that Obama and supporters of his plan are banking on.
And the borrowers who benefit most may not necessarily be poor struggling homeowners on the brink of foreclosure. http://www.openmarket.org/2011/10/24/obama-fannie-regressive-refinance-ripoff-for-taxpayers-and-middle-class-investors/y
Berlau: What scares off investors are not sequesters, but government takeovers of auto companies that shaft bondholders to favor the UAW.. http://spectator.org/archives/2010/11/18/whats-good-for-gm-is-now-terri
>> View the live blog on Openmarket.org.
CEI: Stuff president took credit for that he didn't do:
--Oil and gas production
William Yeatman reacts to Obama on climate change:
David Bier: Based on the number of words, the president is twice as committed to gun control as immigration reform. Might be good prediction of his efforts for the next term.
David Bier: President Obama talks a lot about reducing regulations on immigration and attracting highly-skilled immigrants, but he’s done a lot to obstruct that over his first few years:
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