Freer is better

(by John Stossel) - The 2010 Index of Economic Freedom lowers the ranking of the United States to eighth out of 179 nations -- behind Canada! A year ago, it ranked sixth, ahead of Canada.

Don't say it's Barack Obama's fault. Half the data used in the index is from George W. Bush's final six months in office. This is a bipartisan problem.

For the past 16 years, the index has ranked the world's countries on the basis of their economic freedom -- or lack thereof. Ten criteria are used: freedoms related to business, trade, fiscal matters, monetary matters, investment, finance, labor, government spending, property rights and freedom from corruption.

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Theft of gold necklaces a sign of the dollar's decline?

Not too long ago, we were reading about people stealing copper tubing and copper wiring from homes and businesses. Now, police in St. Paul, Minnesota, are warning of a rash of gold necklace thefts. There have been at least 11 instances in the past three months in which thieves snatched necklaces right off the victims' necks.

You see, even criminals are realizing just how dismal the dollar's future is. Thank you, Federal Reserve!

Fed paints weaker picture of growth and employment

WASHINGTON (AP) - Federal Reserve officials have a slightly dimmer view of the economy than they did in April, reflecting worries about how the European debt crisis could affect U.S. growth and job prospects.

Fed officials said Wednesday in an updated economic forecast that they think the economy, as measured by the gross domestic product, will grow between 3 percent and 3.5 percent this year. That's a downward revision from a growth range in their April forecast of 3.2 percent to 3.7 percent.

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Health care law's massive, hidden tax change

NEW YORK (CNN) - An all-but-overlooked provision of the health reform law is threatening to swamp U.S. businesses with a flood of new tax paperwork.

Section 9006 of the health care bill -- just a few lines buried in the 2,409-page document -- mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.

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