Unexpected Slow Growth


Fortune reports the the U.S. economy is growing more slowly than expected.

The government also reported that after-tax corporate profits fell at a 2.4% rate last quarter after increasing at an 8.1% pace in the first quarter. Weak profits could limit an anticipated rebound in business spending.

The nanny state taxes tobacco and soft drinks in an attempt to curb their use and then is surprised about the effect high taxes have on corporate profits.