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The Balance Sheet

The Media Research Center

Free Market Project - Auditing the media's coverage of the free enterprise system

Volume 1 Issue 13 November 9, 2005

In this issue: Deductive Reasoning • Judging from Law • Wal-Mart • Good, Bad & Ugly
Oil Profits • U.N.-ternet • Taxes • Energy • Health Care • Events

New from the Free Market Project

A Simple Plan?
The president's tax panel delivered a complicated proposal that would merely shift the tax code's winners and losers. Still, the media bought into the idea that it was ‘simplifying,’ focusing on deductions ‘scrapped’ and, like the panel, avoiding the issue of real reform.

Econ 101: The Role of the Courts in the Economy
As the Senate considers the nomination of Samuel Alito to the Supreme Court, Dr. Gary Wolfram, an economics professor and Free Market Project adviser, reminds us why courts were established: to protect our freedoms. To preserve a country where the rule of law guards private property rights, judges must focus on enforcing the laws that are written – not on creating new policies.
Ask the professor: Do you have a question about an economic issue covered in the news?

Anti-Wal-Mart Movie Presses Forward
The Free Market Project is tracking coverage of two new films about Wal-Mart – one positive and one negative. The film that bashes the retailer is getting a lot more attention in the press, and journalists are anything but skeptical. Even when the two sides debate, reporters insert pointed anti-business comments.

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: NPR goes free market?; If it’s economic news, it must be bad; Sheriff Dobbs in Sherwood Forest

Also from FMP: Spotlight on oil companies and the ‘windfall profits’ tax

Dobbs Takes Aim at Oil Companies

Fueling ‘Outrage’

Commentary: Punishing Profits

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Research, News & Commentary

Oil Profits

Research: Do we need more taxes on the oil industry? The Tax Foundation shows why this would be a bad idea, based on current taxes in place and the history of “windfall profits” taxes.

Research: Cato’s regulation experts deliver the case against the “windfall profits” tax and oil price controls.

Commentary: James Glassman lends some sanity to the recent oil-profit carping in Congress and the press.

Internet Freedom

Research: A thorough overview into the history of the internet, and why a U.N. takeover of it would be disastrous.


Commentary: R. Glenn Hubbard offers a comprehensive look into the tax panel findings and where reformers should go from there.

Commentary: Kevin Hassett plays “myth debunker” and sets the record straight about home prices and mortgage deductions in light of the proposal from the president’s tax panel.


Commentary: The revelation that oil rigs sustained little to no damage during this active hurricane season should change the debate about drilling in the Gulf.

Health Care

Research: As the Senate prepares to strike down some price controls on pharmaceuticals in the Medicare program, The Heritage Foundation reminds us of the potential economic harm from artificial price ceilings.

Commentary: The president is devoting $1.2 billion to fight malaria, but DDT should figure more prominently in the solution.

Upcoming Events

Tell us about events coming up in your area!

Education Entrepreneurship: Why it Matters, What Risks it Poses, and How to Make the Most of It
American Enterprise Institute

Nov. 14, 8:45 a.m.

“States of Fear: Science or Politics?” with Michael Crichton
Hotel Nikko, San Francisco
Nov. 15, 8:00 p.m.

Downsizing the Federal Government
Sponsored by the Cato Institute
B-338 Rayburn House Office Building
Nov. 15, 12:00 p.m.

Let the U.N. Govern the Internet?
The Heritage Foundation

Nov. 17, 10:00 a.m.

Inflation Targeting at Bernanke’s Fed
American Enterprise Institute

Nov. 22, 10:00 a.m.

Join Us in Telling 50 Million Americans Every Week About Liberal Media Bias!

Editorial Staff
Dan Gainor, Free Market Project Director
Amy Menefee, Balance Sheet Editor
Charles Simpson, Research Analyst

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