With so much attention on the turf war between Congress and the President, it’s easy to overlook another, equally disturbing separation-of-powers crisis – the swift erosion of federalism.
Just as the U.S. Constitution assigns certain powers and duties to the three coequal branches of the federal government (legislative, executive, and judicial), so too does it differentiate lines of responsibility between the federal and state governments. This latter idea is known as federalism, and it’s in pretty bad shape according to a thought-provoking essay by Richard Epstein and Mario Loyola.
In particular, the practice of conditioning receipt of federal money on capitulation to federal regulations is turning states into mere enforcement officers.
It may come as a surprise to many, but the United States imposes the developed world's highest corporate tax rate, with a combined federal and state average of 39.1%.
Exacerbating matters, our corporate tax code is a hopelessly complex and convoluted one. Among other defects, the U.S. code taxes not only domestic earnings, but overseas earnings as well, creating what Miles D. White of Abbott Laboratories describes as “a double whammy.” As a result, domestic companies facing withering global competition increasingly must reincorporate overseas in order to survive. …
"Immigration has emerged as perhaps President Obama's worst issue -- definitely for today, and maybe of his entire presidency -- when it comes to public perception. A new poll from AP-GfK shows more than two-thirds of Americans (68 percent) disapprove of Obama's handling of the immigration issue in general. Just 31 percent approve -- down from 38 percent two months ago. When you separate those…[more]