Economy

Not Enough Paychecks Protected

January 25, 2021 We’ve discussed how the big corporate fish are getting bigger and the gruesome reality that this pandemic is unleashing for small businesses. A recent National Restaurant Association survey further quantifies the freefall. It revealed how nearly 110,000 restaurants – or about one in every six establishments – have closed their doors nationwide. …

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Taxes Rain Pain on Everyone

January 4, 2021 President-elect Joseph Biden’s tax initiatives, while not law yet, could do tremendous economic damage. A slew of new taxes may be unleashed, including nearly doubling the top capital gains tax, from 23.8 percent to 43.4 percent. While the Biden team insists its tax increases will apply only to high earners, the truth …

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Restrictions, Lack of Support Killing Businesses Nationwide

December 21, 2020 According to Yelp’s most recent economic impact report, more than 163,000 U.S. businesses have shut down due to the COVID-19 pandemic this year. That’s bad, but it gets worse. Yelp also reports 98,000, or 60 percent, of those businesses are gone permanently: The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) …

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A Tale of Two Senates

December 7, 2020 Joe Biden is going to be the president, and a lot of what I read indicates he could well enter office as the weakest president since Jimmy Carter. Now, presuming the Senate stays Republican (which is not a given because of two January runoff races in Georgia), President Biden will have won …

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Big Fish Get Bigger

November 23, 2020 COVID-19 unleashed a tsunami of destruction. Whole industries are transforming, and some are being wiped out altogether. The industry that’s perhaps been damaged most by the pandemic is the restaurant business. It’s been gutted. According to Yelp and the Wall Street Journal, almost 22,000 restaurants closed their doors forever from March 1-September …

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Unwelcome Signs of the Times

November 16, 2020 The lingering pandemic is having profound negative effects. Consider how job loss and other financial stresses often affect a person’s ability to pay rent. Despite generous stimulus and government support minimizing the problem for a while, it appears things are starting to get worse. September data revealed metro areas with the biggest …

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