The Federal Reserve’s “Beige Book,” which describes economic conditions throughout the central bank’s 12 districts, summarizes the overall outlook as “modest to moderate.”
The startup of the new Cushing market link pipeline to the Gulf Coast, as well as strong Midwest refining runs helped reduce oversized oil inventories at the Cushing, Okla., storage hub to the lowest level in two years.
The media has had a lot to say about the bad weather earlier this year and tough economic data. My fear is the worrisome news could lead you to conclude that the business cycle is weakening underneath you and that it is time to hoard cash and say “no” to new initiatives.
Between Social Security, Medicare and corporate or individual taxes, most business owners I know pay anywhere from 20% to 30% of their net income to the federal government.