Pickens: It’s all about me, and MSNBC doesn’t notice
Appearing on the MSNBC morning program Morning Joe, energy investor T. Boone Pickens let us know that despite his no-nonsense business-like approach to supporting what he believes to be in America’s best interests, it’s really all about him and what profits him. But program hosts Joe Scarborough and Mika Brzezinski didn’t catch that. Pickens appeared on the program to gain support for legislation he is | Read More »
Do federal grants cause higher local taxes?
“Nothing is so permanent as a temporary government program.” — Nobel Laureate Milton Friedman Is this true? Do federal grants cause state and/or local tax increases in the future after the government grant ends? Economists Russell S. Sobel and George R. Crowley have examined the evidence, and they find the answer is yes. Their research paper is titled Do Intergovernmental Grants Create Ratchets in State | Read More »
Just cash in a few Social Security Trust Fund bonds
Speaking about Social Security, President Barack Obama told CBS news today that “I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do it.” The issue he refers to is raising the federal debt ceiling. That’s a very curious statement for the president to make. Because | Read More »
Obama’s tax hikes must be resisted
As our nation’s leaders consider the possibility of raising income tax rates, we need to be aware of the negative impact of higher marginal tax rates on the economy and make sure we resist the lure of higher taxes. This is especially important even if the new higher tax rates are confined to to the rich. The concept of marginal tax rates is important to | Read More »
Regulatory capture is an opportunity for everyone
Evidence that a business seeking regulatory approval of its project enjoyed an apparently close relationship with the Kansas Department of Health and Environment should not be surprising. Reporting in the Kansas City Star leads with “Hundreds of emails document that officials of a Kansas power plant enjoyed a cozy relationship with the Kansas regulators who issued them a building permit in December.” (Kansas agency, utility | Read More »
Local chambers of commerce: government booster clubs
This column is cross-posted from Voice for Liberty in Wichita. The fact that the Overland Park Chamber of Commerce supports a tax increase reminded me of a piece in the Wall Street Journal by Stephen Moore that shows how very often, local chambers of commerce support principles of crony capitalism instead of pro-growth policies that support free enterprise and genuine capitalism. We may soon have | Read More »
Regulation supports business, not capitalism and free markets
There are many examples of how the conventional wisdom regarding regulation is wrong: Republicans and conservatives are in bed with government, seeking to unshackle business from the burden of government regulation. Democrats and liberals, on the other hand, are busy crafting regulations to protect the common man from the evils of big business. As it turns out, both Democrats and Republicans love creating regulations, and | Read More »
Social Security Trust Fund: Why no truth?
This column is cross-posted from Voice for Liberty in Wichita. Regardless of one’s attitude towards the Social Security system, the refusal by liberals to admit the fraud of the system’s trust fund remains an obstacle to honest discussion of the system’s future. Here’s an example from a prominent defender of the myth of the Social Security Trust Fund, Sen. Bernie Sanders of Vermont. In an | Read More »
Public opinion on debt ceiling and government spending
This column is cross-posted from Voice for Liberty in Wichita. While the economic future of the United States seems grim, the encouraging news is that large swaths of Americans are starting to understand the reality of the situation and what must be done to place our economic house in order. This is my conclusion after viewing a new video by Bankrupting America. The two-minute video | Read More »
Corporate jet incentive, or tax dodge, or kids’ safety?
Yesterday President Barack Obama denounced the tax breaks given to owners of corporate jets. Described by MSNBC Television program host Rachel Maddow as a “corporate tax loophole” that allows “giant corporations to dodge their taxes,” Obama cast the issue as corporate fats cat vs. kids: “You go talk to your constituents — the Republican constituents — and ask them, are they willing to compromise their | Read More »