On May 6, all eyes will be focused on the second round of the French presidential election, which Socialist challenger Francois Hollande is likely to win. Equally important for Europe’s future is the Greek parliamentary election scheduled for the very same day.

This article is the first part of a two-part examination of the contentious issue of how state governments' provision of goods and services to the public should be taxed under a VAT.

The following is a summary highlighting testimony by AEI Director of Economic Policy Studies Kevin Hassett to the Joint Economic Committee at a hearing entitled "How the Taxation of Capital Affects Growth and Employment."

As critics see it, the loss of our common culture is a result not of cultural changes but of shifts in policy and the economy. There are two problems with this line of argument.

How does raising the minimum wage affect employment?

Is raising the minimum wage a bad idea?

What is the impact of unemployment insurance on the recession and how does Obama's proposal hold up?

The biggest problem with the labor market right now is that wages are too high. A number of reasons help explain why wages do not and will not drop, beginning with federal and state minimum-wage laws.