Latest news with #UnleashProsperity
Fox News
2 days ago
- Business
- Fox News
Can America's Economic Data Be Trusted?
On Tuesday, the Bureau of Labor Statistics released last month's Consumer Price Index, showing that prices barely rose in July. Economists had been forecasting the CPI rising by 0.2%; however, thanks to an overall drop in energy prices, the report suggests inflation appears to have plateaued. This will only bolster President Trump's calls on the Federal Reserve to cut interest rates. Former Trump advisor and co-founder of Unleash Prosperity, Stephen Moore, joins to break down the positive inflation news and the future of economic data in the U.S. President Trump is reportedly weighing the decision to reschedule marijuana under federal law, possibly reclassifying it as a less dangerous drug. The methods the Trump administration may take to enact this change are varied, with some wondering whether the President will act directly or leave it to his federal agencies to handle. Former Arkansas Governor and Drug Enforcement Administration chief Asa Hutchinson joins to discuss the merits of medical marijuana, risks of drug abuse, and what role the DEA would play in the rescheduling process. Plus, commentary from the president of Exit Stage Left Advisors, Ted Jenkin. Learn more about your ad choices. Visit
New York Post
28-07-2025
- Business
- New York Post
The great Northeast exodus — how high taxes are driving away billions
New York and New Jersey lost $140 billion in income in just one decade. Call it moving van economics — and New York and New Jersey are the losers. A new analysis from my organization, Unleash Prosperity, of the latest census and income tax data finds these two states have lost more residents over the past decade than any other state not named California. Advertisement From 2015-2024, New York has lost 2 million residents. 3 Zohran Mamdani wants to raise taxes by 2 percent on wealthy New Yorkers. Getty Images These are giant population losses from two of America's leading industrial and financial centers throughout the 20th century. State tax havens These New York and New Jersey refugees have mostly relocated to the new powerhouse states like Florida, Texas and Tennessee. These moving vans explains why the Southeast is now, for the first time ever, the economically dominant region in the country. Advertisement Even more problematic for New York and New Jersey is that the movers are taking a lot of personal income and purchasing power with them. From 2012 to 2022, New York has lost $111 billion in income while Jersey is down by more than $31 billion. Because the income is lost forever — except for the rare cases when the exiles move back — these income losses accumulate year after year. 3 Unleash Prosperity Why are so many people leaving the Northeast? Advertisement A myriad of reasons — crime, cost of living, better job opportunities, warmer weather and, yes, to save money on taxes. New York, New Jersey and California are the three biggest losers in the interstate migration sweepstakes, and they just happen to be the states with the highest state-local income tax add-ons. The big winner states like Florida and Texas have no income tax at all. 3 Unleash Prosperity Coincidence? Doubtful. Advertisement There's a warning sign that should be flashing. The place in America with the highest income tax is New York City. Now one of the leading candidates for mayor, Zohran Mamdani, wants to raise the tax on the rich by another 2 percentage points. When will voters realize that you can't tax the New York millionaire after they move to Florida — and choose to pay no income tax at all? Stephen Moore is a co-founder of Unleash Prosperity and a former senior Trump economic adviser.
Washington Post
08-07-2025
- Business
- Washington Post
Trump can't achieve his economic goals without more immigrants
Stephen Moore is a co-founder of the nonprofit Unleash Prosperity and was a senior economic adviser to the 2020 Trump campaign. Richard Vedder is an economics professor emeritus at Ohio University and a senior fellow at Unleash Prosperity. Most Americans would agree that immigrants have made a positive contribution to the U.S. economy throughout our nation's history. But legal immigration might be more vital to our economy today than ever before. That is the result of an unavoidable demographic reality: Like that of every other industrialized nation, our population is aging quickly. Roughly 10,000 baby boomers are retiring every day, but nowhere near that number of native-born Americans are entering the workforce. This raises a challenge to the Trump administration's goal of achieving and maintaining 3 percent economic growth, increasing wages and lowering federal budget deficits. To achieve that level of growth, we will need two things: an increasing labor force and higher productivity on the part of working Americans. Artificial intelligence and robotics will provide a profound boost to productivity — just as farm tractors, computers and the internet propelled growth. But we will still need smart and willing workers because our country's declining birth rates deplete the pool of available domestic labor. Our group, Unleash Prosperity, examined the economic and demographic effects of immigrants on American society, using the latest census data. We found that the U.S. economy is already super dependent on immigrants. Over the past decade, just under half of all new civilian workers, almost 6 million, have been immigrants. The majority of them entered the country legally. Here is an even more jaw-dropping statistic on the need for expanded visas: Because of our inverted population pyramid, immigrants will contribute virtually all of the net increase in the American workforce over the next two decades. Without continued immigration, the U.S. workforce would start shrinking. One underappreciated advantage of immigrants is that a disproportionate number come to this country at the start of their working years. They are twice as likely to be in the prime working ages of 18 to 64 than native-born Americans. Only a small percentage of immigrants arrive in the United States during their retirement years. We are mostly importing instant workers. This is why immigrants are a valuable demographic safety valve. Many Trump voters worry that immigrants might take jobs from U.S.-born blue-collar workers, and there is no doubt that in some occupations there is a crowding-out effect. But economy-wide, there is no evidence that natives lose jobs because of immigrants. There are nearly 8 million job openings in the U.S. today, and that number might increase in the years ahead as retirements accelerate. Our study also found that today's immigrants — and their children — are prodigious creators of jobs and businesses. Most of these businesses are small, with a handful of employees, often family members. But some are astonishingly successful, hiring thousands of American workers. We calculated that just under half of the Fortune 500 companies in the United States were started by an immigrant or the child of an immigrant. Of the 'Magnificent Seven' U.S. firms — which together are worth more than all of the companies in Europe — three are led by immigrants. Elon Musk, CEO of Tesla, was born in South Africa. Jensen Huang, CEO of Nvidia, is from Taiwan. Sundar Pichai, CEO of Alphabet and Google, is from India. One prominent example of the United States importing the best and brightest is found in sports. The last seven MVP awards in the National Basketball Association — the award for being the best player in the world — have gone to foreign-born athletes, including Giannis Antetokounmpo (Greece), Nikola Jokic (Serbia), Joel Embiid(Cameroon) and Shai Gilgeous-Alexander (Canada). Most immigrants won't be superstar athletes or shooting rockets off to Mars. But most will contribute and help ensure that the United States retains its global supremacy in the decades ahead. If we are smart enough to let them come.
Fox News
06-03-2025
- Business
- Fox News
Evening Edition: Will Trump Tariff's Make ‘America Rich Again'?
President Trump says his newly implemented tariffs will 'make America rich again' while protecting America jobs, but also warned there maybe a 'little disturbance' in business. President Trump spoke with both the Canadian and Mexican officials, offering automakers a one month exemption from tariffs. In his address to Congress, the President also touting plans to raise tariffs on foreign aluminum, copper, lumber and steel by 25%, as well as reciprocal tariffs on beginning on April 2nd. FOX's Eben Brown speaks with Timothy Doescher, Executive Director at Unleash Prosperity, who says he isn't always a fan of tariffs but Trump's game plan could work to even the trading field. Click Here To Follow 'The FOX News Rundown: Evening Edition' Learn more about your ad choices. Visit
