Media Won't Rest until Taxes Are Raised
New from the Business & Media Institute
Media Wont Rest until Taxes Are Raised
Were fighting terrorists. Were rebuilding the Gulf Coast. Can we do all
this without tax increases? is the media refrain. In post-Katrina tax
coverage, 59 percent of network news stories suggested raising taxes. They
turned to everyone from Bill Clinton to the man on the street make the
case.
Econ 101: Should the Government Plan Cities?
Dr. Gary Wolfram, professor of economics at Hillsdale College and adviser
to the Business & Media Institute, explains why property owners in the storm
region are the best ones to decide what happens next.
Ask the professor: Do you have a question about an economic issue
covered in the news?
Fannie Mae Scandal Grows and Networks Do Nothing
Network news is still missing a financial scandal that is exponentially
larger than Enron. Fannie Maes $10.8 billion accounting debacle that has
helped slice $30 billion in value from the company grew worse on September
29 when The Wall Street Journal reported investigators had found new
accounting violations, including evidence that the company may have
overvalued assets, underreported credit losses and misused tax credits
Despite this, ABC, CBS and NBC still talked about past events at Enron
more than current events at Fannie Mae.
The Good, the Bad & the Ugly
The Good, the Bad & the Ugly tracks the best and worst media coverage of
business and economics. Readers are invited to submit suggestions or news
tips to Director
Dan Gainor.
This week: Good guy lawyers; 60 Minutes goes off track on NASCAR;
and the media overestimate job losses from Katrina.
Also from BMI:
Media Chip Away at Insurances Rock Solid Coverage
CBS Off Track with NASCAR Comments
Media Wrong about Katrina-Related Economic Downturn
Research, News & Commentary
Global Warming
Research: The National Center for Policy Analysis debunks a relationship between global warming and hurricanes.
Hurricane Katrina
Commentary: Job losses from Hurricane Katrina arent as severe as expected.
Commentary: Iain Murray looks at the transit options available for evacuating New Orleans before Katrina.
Commentary: An itemized breakdown of the pork, or in this case pork gumbo in Katrina relief requests submitted by the Louisiana congressional delegation.
Research: The Heritage Foundation offers some ideas for cutting and controlling spending amidst Katrina relief efforts.
Research: Recommendations for the reconstruction of housing on the Gulf Coast.
Tax Policy
Research: The Heritage Foundation looks into a flawed plan to implement a two-track system where only high earners file annual tax returns.
Energy
Commentary: More taxes on oil and gas consumption wouldnt solve U.S. energy problems.
Commentary: The Wall Street Journal warns of the impending burst of the oil bubble and urges calm regarding the oil market.
