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Economics

Opinion and commentary related to economics, finance, and the war on free market capitalism.

Yes, We Can Have The 20 Percent Corporate Tax Rate — Next Month!

in Economics/Politics by

Former Lieutenant Governor Betsy McCaughey (R – New York) has discovered the formula for delivering a 20 percent corporate-tax rate in 2018 — as the U.S. House wishes — not 2019, as the Senate voted, thus flirting with GOP political suicide. McCaughey, a senior fellow with the London Center for Policy Research (as am I), offered a delightfully simple plan in Wednesday’s New York Post: “This beautiful committee,” as President Trump dubbed the House-Senate conference, should accept the House’s January 1, 2018 date for the corporate tax to plunge from today’s 35 percent rate to a new, paradigm-shifting 20 percent. And how would conferees “pay for” such history-making tax relief for American…

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Is Marvin Goodfriend The Worst Fed Nominee Of All Time?

in Economics by

Yesterday Donald Trump nominated Marvin Goodfriend to the Federal Reserve Board of Governors, one of the numerous vacanciesthat have emerged over the course of the past year. While his prior nominations of Jay Powell as Chairman and Randal Quarles as Vice Chair represented a disappointing commitment to the status quo, his selection of Goodfriend is a dangerous act of outright betrayal to Trump’s core constituency of working class voters. The timing of the decision is ironic. After all, while Trump is busy lobbying Senate Republicans to support his desired tax cuts, he has decided to nominate a would-be central banker who…

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Eliminating The State And Local Tax Deduction Is a Terrible Idea

in Economics by

The tax “reform” currently being discussed in Washington is mostly a political exercise for politicians who can use the process to extract more campaign contributions from supporters, and punish non-supporters. The actual tax burden imposed on Americans overall will change little.  The proposed elimination of the deduction for state and local taxes (SALT) is an excellent illustration of how the tax reform is really about playing political games. Forever in pursuit of “revenue neutral” tax reform, the GOP is simply turning to the elimination of the SALT deduction so it can raise federal revenues, and this allows for a tax cut…

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Hey GOP Establishment, Want To Cut The Burden Of Government? Cut Spending

in Economics/Politics by

Washington, DC is currently in the middle of a the “tax reform” process, which as Jeff Deist, points out, is ” a con, and a shell game.” Tax reform proposals, Deist continues “always evade and obscure the real issue, which is the total cost — financial, compliance, and human — taxes impose on society.” Tax reform is really about which interest groups can modify the current tax code to better suit their own parochial interests. The end result is not a lessened tax burden overall, and thus does nothing to boost real savings, real wealth creation, or real economic growth. It’s just yet another government method of…

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The Swamp Wins: Trump Nominates Powell To Replace Yellen

in Economics/News by

In the end Donald Trump gets what he wanted, a “low interest rate person” who also happens to be a “Republican.” Jerome Powell will replace Janet Yellen. This means Trump will ensure that, while the stationary at the Eccles Building will change, the monetary policy guiding it likely will not. The fact that, in naming Powell, Trump is picking an Obama-appointed Fed Governor for his most important nominations is itself quite fitting. While we have long known that bad monetary policy is bipartisan, Powell’s nomination serves as a particularly useful illustration of how little has changed in Washington since the Bush Administration. Of course, just…

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Obama Administration’s Bank Regulation Still Widening Gap Between Rich And Poor

in Economics by

One of the most devastating consequences of the Obama Administration has been that Americans who don’t have the luxury of large bank accounts are continuing to be treated like second-class citizens by the US financial system. The Wall Street Journal this week offered another example this week in an article noting that banks are now paying higher interest rates to keep their wealthiest clients from shopping their services to other institutions. Even though the federal funds rate has remained at historically low levels, in theory the recent string of minor interest rates hike by the Fed should have allowed savers to start seeing…

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The Tax Increase In Reform’s Clothing

in Economics/Politics by

In a 2011 piece for the New York Times, leftist billionaire Warren Buffett claimed that investment managers are getting “extraordinary tax breaks,” due to the classification of income from managing others’ money as “capital gains.” “Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as ‘carried interest,’ thereby getting a bargain 15 percent tax rate,” Buffett said, always portaying himself as the patriotic rich man willing to pay his “fair share” of taxes. Under the current tax code, capital gains are taxed at 15 percent, rather than the top tax rate…

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The Next Generation Of Currency Wars: Private Vs. State-Backed Crypto

in Economics by

Recently, Russia announced that it will be unleashing a CryptoRuble, just a week after Vladimir Putin strongly criticized Bitcoin and other private cryptocurrencies.  When announcing the move, Minister of Communications Nikolay Nikiforov acknowledged that it was in part inspired by the aim of getting ahead of other governments: I confidently declare that we run CryptoRuble for one simple reason: if we do not, then after two months our neighbors in the EurAsEC will. In doing so, Russia is following the lead of another country that too has become hostile to private crypto, China. Last July, the People’s Bank of China became the first central…

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Are Corporate Earnings Affected Adversely By Hurricanes?

in Economics by

Earnings are the biggest driver of stock prices and valuation. This doesn’t imply companies are the sole determinants of their stock prices. Issues like geopolitics, the weather, and the economy get filed under systematic risk factors. These are the factors that are talked about in the news so much because they apply to all companies. It’s important to have a balance between reviewing the macroeconomic conditions and the company’s specific fundamentals. If you focus too much on the macro issues, you might miss out on companies that are doing well in spite of the macro challenges. Trends and headline issues…

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How Trump Bailed Out Janet Yellen And The Federal Reserve — For Now

in Economics/News by

The biggest winner of the Trump presidency is also the most surprising: Federal Reserve Chairman Janet Yellen. After all, Yellen was a constant target for criticism by Candidate Trump, going so far as to accuse her of being “more political than Hillary Clinton.” Beyond Mr. Trump’s barbed rhetoric, pundits such as Paul Krugman predicted that Trump’s ascendency would be disastrous for the US economy and the stock market in general, which would have wiped out the modest recovery that Yellen’s legacy depends on.

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A Sneak Peek At Hans-Hermann Hoppe’s ‘Libertarianism And The Alt-Right’ Speech

in Economics/Politics by

The twelfth conference of the Property and Freedom Society took place last month, in the usual place and with the usual enjoyments. The Hotel Karia Princess was about the same as ever, and I believe I was put up in the same room as last year. Bodrum itself was somewhat busier than last year, which must have been a mercy for its tradesmen and hoteliers – though it remains but a shadow of what it was when I first knew it. This year has seen two earthquakes, at least one terrorist attack, a fallen pound and a bitter argument between…

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Is The US Stock Market Overvalued?

in Economics by

Valuation is the method of determining what an asset is worth. The price, on any given day of a stock, is how the market is valuing that asset. Your ability to look at various metrics when coming up with a valuation will determine if you can do a better job than the market at determining what an asset is worth. If you can outwit the market, you make profits. If you can’t, you underperform the market or lose money. Some methods of stock valuation are the following: price to earnings (PE) multiple versus growth, earnings yield versus fixed income yields,…

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Fed Chair Yellen: The Economy May Be Weaker Than We Thought

in Economics by

Federal Reserve Chair Janet Yellen this week cast doubt on the Fed’s announced plan to continue Fed rate hikes and reverse its years of “unconventional” monetary policy. “My colleagues and I may have misjudged the strength of the labor market,” Yellen announced on Tuesday, adding that they’d also misjudged “the degree to which longer-run inflation expectations are consistent with our inflation objective, or even the fundamental forces driving inflation.” Yellen also “noted that the labor market, which historically has been closely linked to inflation, may not be as tight as the low unemployment rate suggests.” In other words, Fed economists are…

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Ackman’s Quest To Ruin Herbalife Is Cronyism At Its Worst

in Economics by

For five years, billionaire hedge fund manager Bill Ackman has attempted to bring Herbalife, a global nutrition and weight management company, to the brink of financial ruin—all for his personal financial gain. Fortune reported that, back in 2012, Ackman’s Pershing Square Capital Management took a $1 billion short position in Herbalife’s stock, expressing his belief that Herbalife was a “pyramid scheme.” He claimed that he would give proof the very next day. In an apparent victory for Ackman’s short position, Herbalife’s stock lowered 10 percent within six seconds, causing the company to issue a temporary trading halt. Ackman offered a…

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Tax Myth: Why Companies Will Not Repatriate Overseas Cash

in Economics by

As with seemingly every election cycle, tax reform is a hot topic, as though a carrot that dangles in front of the horse. Whether you’re in favor of larger or smaller taxes, its a discussion that is important to have. The goal of this preliminary tax discussion is to separate the narrative from the reality. With President Trump’s election there has been discussion of getting rid of the interest tax deduction for mortgages, as well as the border adjusted tax. Both of these would be a tax on consumption which would negatively affect the consumer. However, despite the rhetoric, the key…

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Government Regulation And Crony Capitalism Is Keeping Thousands In Florida Without Power

in Economics/News/Politics by

Almost two weeks have passed since Hurricane Irma made landfall in South Florida, yet tens of thousands remain without power. With temperatures regularly eclipsing over 90 degrees, these outages are not only a grave inconvenience for Floridians cleaning up after the storm, but have proved to be deadly. Given the power of Irma, it is not surprising that it has left behind incredible devastation. Unfortunately it is also not surprising that it is a government-protected utility that has done the most to impede recovery. The pain and suffering currently being felt is the direct result of government policy and the…

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Why Natural Disasters Are Worse For Poor Countries

in Economics/Politics by

In the wake of hurricane Harvey, disaster experts were shocked by how few deaths resulted from the storm: ““It was astounding that we didn’t have a much larger loss of life,” said Phil Bedient, co-director of a Rice University effort to research severe storms and evacuations. A recent count puts total storm-related deaths at 82, out of a metropolitan population of more than 6.5 million. The relative lack of lives lost is being attributed to a variety of factors including luck, the timing of evacuation orders, and “swift action by first responders.” There’s no doubt that these factors contributed to…

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CFPB’s Unconstitutional Assault On Private Business Harms Consumers

in Economics/Politics by

Under the Consumer Financial Protection Bureau’s (CFPB) new rule, private companies would be banned from fully utilizing mandatory arbitration clauses. Pertaining mainly to financial products such as credit cards and bank accounts, these clauses currently prevent consumers from joining together in class action lawsuits to sue their banks. While the rule wouldn’t ban these clauses from company contracts entirely, it would prevent them from being used to stop group action. Aside from representing a blatant government intrusion in private businesses, this could seem like a good thing at face value. Consumers would be free to utilize further legal options, however,…

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Think Gentrification Is Bad? The Opposite Is Worse

in Economics by

We’ve long been told that gentrification is the scourge of many communities, and we’ve become very familiar with the scenario: a stable middle-class community is destroyed when wealthy (usually white) people move in, drive up home prices, and force out the “diverse” population that had been there previously. There are problems with this narrative of course. Very often, the working-class homeowners who leave the neighborhood experience a windfall from selling their property to the incoming “up and comers” who buy out the aging homeowners. There is an upside. On the other hand, there are indeed downsides to gentrification. There are…

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Maine Is Nullifying Federal Regulations That Cripple Local Farmers

in Economics/News by

A few weeks ago, Maine Governor Paul LePage signed a Food Sovereignty Bill into law, guaranteeing the rights of Maine towns to regulate food production locally, rather than submitting to federal regulation. Although the press is avoiding describing the bill as such, this is a nullification of federal food regulations. The movement for food sovereignty in Maine began in the town of Sedgwick, which passed its own food sovereignty bill, and the idea quickly spread to twenty towns across the state. The Sedwick law explicitly gave citizens of the town the right to “produce, process, sell, purchase, and consume local…

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Trump’s Historic Opportunity With The Federal Reserve

in Economics/News by

Today Stanley Fischer submitted his letter of resignation from the Federal Reserve’s Board of Governors, effective next month, the second such resignation of Donald Trump’s presidency. While Fischer’s term as Vice Chairman of the Fed was set to end next year, he had the ability to serve as a governor through 2020. Along with Trump’s decision next year on whether to replace Janet Yellen as the Fed’s chair, this means Trumps will have the opportunity to appoint five of seven governors to America’s central bank. Given that the position holds a 14-year term, it is unusual for a president to…

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Seattle Seahawks Flee America For Medical Treatment

in Culture/Economics by

Baseball may still identify as America’s pastime, but every year consumers prove that football is the country’s true love. In fact, the intertwining of national identity and the NFL can often be troublesome, such as when the Pentagon pays the league to promote the military — or the large subsidies governments grant to help billionaires pay for new stadiums. Yet increasingly America’s best athletes in America’s favorite sport have to flee the country to get medical treatment, because of an opponent more dangerous than Ndamukong Suh: the Food and Drug Administration. On Monday, Seattle Seahawks head coach Pete Carroll informed…

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Southern Secession Was One Thing — And The War To Prevent It Was Another

in Economics/History/Politics by

There’s an old saying that “he who distinguishes well teaches well.” In other words, if one’s going to talk about an important subject, one should be able to define his terms and tell the difference between two things that are not the same. This wisdom, unfortunately, is rarely embraced by modern pundits arguing about the causes of the American Civil War. A typical example can be found in this article at the Huffington Post in which the author opines: “This discussion [over the causes of the war] has led some people to question if the Confederacy, and therefore the Civil…

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The Eclipse: How Markets Could Have Prevented The “Traffic Nightmare”

in Economics by

In a typical illustration of how the news media resorts to exaggeration and hyperbole in order to seem relevant, the national media promised us “chaos” and a traffic “nightmare” in cities and towns where a total eclipse could be viewed yesterday. A month ago, USAToday suggested that too many hikers and forest-fire danger “could cause eclipse-watching chaos during solar eclipse.” The Oregonian reported last month that the presence of public lands invite “eclipse watching chaos across Oregon.” And then the event came and went. The media, which had promised “chaos” ended up reporting little more than the so-called “traffic nightmare”…

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Letter From England 2: Europe And The Culture War

in Culture/Economics/Politics/World by

If I were to draw up a list of the problems facing my country, and then to discuss their nature and possible solutions, I might be starting work on a rather long book. Instead, I will confine myself to what I think are the two most immediately pressing, and that are within the direct control of the British Government. These are our withdrawal from the European Union and the state of our so far uncontested culture war. I begin with Europe. When we voted, in June 2016, to leave the European Union, we were plainly willing an end without willing…

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Even Partial Drug Legalization Goes a Long Way In Protecting Property Rights

in Economics/Politics by

The partial legalization of marijuana has not been particularly ideal. Thanks to high regulatory burdens on the marijuana-production industry, limitations on production volume, and high taxes, black markets have persisted within those states that have adopted a variety of legalization measures. Perhaps most burdensome has been ongoing federal banking regulations that essentially prohibit marijuana producers from using commercial banking services. The resulting reliance on physical cash has led in many cases to more robbery and inefficiencies within the cannabis industry. Nevertheless, even partial legalization has brought at least some of the benefits that one would expect. Cannabis products are now…

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The Tragedy Of The Commons In The Prison System

in Economics/Politics by

In a previous article, I wrote about how the war on drugs and the government monopoly on the legal system has created the Tragedy of the Commons in our justice system. Because legislators and police officers have every incentive to appear “tough on crime” but the cost of the sending a criminal to a courtroom is socialized, the courts have become increasingly backlogged. What that article did not cover is the related “commons problem” in the prison system and the consequences that follow. Where legislators and police officers have in-built incentives to send as many people through the courts as…

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What A Conservative Health Care Bill Ought To Look Like

in Economics/Politics by

Now that House and Senate Republicans have released health care bills, I have come to one conclusion: the GOP is in need of major help writing a health care bill. They never seem to get it right, and they always fall short of making these bills conservative. Consequently, I have created a guideline that highlights the problems within the Senate and House bills, and how they can be fixed. Problem #1: Both House and Senate bills continue spending and subsidizing for poor people and states. Although it sounds moral to give the poor tax credits for health care, it will only…

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Beware The Predictions Of “Experts” Like Janet Yellen

in Economics by

Speaking in London, Federal Reserve chair Janet Yellen predicted recently that the “the system is much safer and much sounder” and explained that the Federal Reserve is prepared to deal with numerous enormous shocks to the economy. In her conversation with Lord Nicholas Stern, Yellen also went on to list the reasons that, thanks to central bank intervention, there is unlikely to be another financial crisis “in our lifetimes.” For those who have lived through more than one business cycle, however, alarm bells tend to go off every time an economist, central banker or high-ranking government official declares that there’s…

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The Racist History Of Minimum Wage Laws

in Economics by

In 1966, Milton Friedman wrote an op-ed for Newsweek entitled “Minimum Wage Rates.” In it, he argued “that the minimum-wage law is the most anti-Negro law on our statute books.” He was, of course, referring to the then-present era, after the far more explicitly racist laws from the eras of slavery and segregation had already been removed. Friedman’s observation about the racist effects of minimum wage laws can be traced back to the nineteenth century, and they continue to have a disproportionately deleterious effect on African-Americans into the present day. The earliest of such laws were regulations passed in regards…

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What Derek Carr’s Contract Teaches Us About Wall Street And Income Inequality

in Culture/Economics by

Derek Carr has just signed the most lucrative deal in NFL history, receiving a five-year extension worth $125 million with the soon-to-be Las Vegas Raiders. At $25 million per year, Carr edges out Indianapolis Colts quarterback Andrew Luck (though Luck’s contract did reward him with over twice as much in guaranteed money). Carr also becomes a big winner in the Raiders’ taxpayer-funded escape from Oakland, with his contract scheduled so most of the money kicks in after the franchise moves to income-tax-free Nevada. While the structure of Carr’s contract offers another opportunity to discuss the “jock tax,” it also serves…

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Texas Freedom Caucus Flexes Its Muscles

in Economics/Politics by

New players are now on the scene in Texas politics. The Texas Freedom Caucus, founded by members of the Texas House of Representatives dedicated to carrying out the will of liberty-minded Texans, is beginning to flex its muscles in the Texas State legislature. Texas Freedom Caucus members, led by pro-gun champion Jonathan Stickland, recently made their presence felt by killing more than 100 local and uncontested bills in short order. Such an unprecedented move was largely in retaliation for House leadership’s failure to address critical pro-liberty legislation during the 2017 legislative session.

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Buy American, Hire American

in Economics/Politics by

His original intent was to eliminate the H-1B visa program. However, upon meeting with corporate executives during his campaign, President Trump changed course, deciding the H-1B visa program didn’t need to be eliminated but reformed. Trump signed an executive order entitled “Buy American – Hire American”, designed to make it harder for U.S. companies to hire foreign help. It calls for four government agencies to suggest reforms to the H-1B visa program as soon as possible. Although the order doesn’t eliminate the H-1B visa program, its purpose is to ensure high-quality workers are being hired for “specialty positions” and not…

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Healthcare Isn’t a Right Or a Privilege

in Economics/Politics by
healthcare

A few days ago I had the opportunity to participate in a brief discussion on the subject of healthcare, more precisely, whether it is a right or a privilege. The person I was talking with is one of those who frames the debate in terms of a false dilemma: healthcare is either a right or a privilege. If it is not one it must be the other, the former being the morally upright side of the debate, the latter being on the side of evil corporations and systemic greed aimed at killing and robbing as many poor people as possible.…

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End Public Financing Of Pro Sports Stadiums

in Economics/Politics by

If you love sports, you need to read this article. Everyone across the political spectrum should be opposed to publicly financed stadiums. The Oakland Raiders have recently announced that they are moving to Las Vegas. Their new stadium will be partly paid for with $750 million in public financing. If you hate sports, you will love this article. Show this to everyone you know, because your tax dollars shouldn′t be used to pay for other people′s entertainment. Unless you spend all of your free time in the library or at the park, your fun is either paid for by corporate…

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“Audit The Ed” – The Effort To Audit Federal Student Loan Programs

in Economics/Politics by

Do you have federal student loans? I do and, if you are anything like me, it sucks. Regardless of being on the receiving end of a loan, the program administered by the U.S. Department of Education is clearly flawed. In fact, one can easily make an argument claiming that because of widespread borrowing, the student loan program was a direct link to the epidemic of ever-rising tuition rates in American higher education. Millions take out multi-thousand dollar loans from institutions that have to comply with federal standards to allow such things and the end cost is a steeply subsidized environment. With the…

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Animal Chiropractic: A Case Study On Government Overreach And Over-regulation

in Economics/Law by

You’re probably scratching your head right about now, aren’t you? Well, let me take a few minutes to explain to you the level of importance the following case carries for the larger narrative of governmental overreach and over-regulation. No, it is not a federal agency defying the new administration. Better yet, it takes place at the state level as an evident issue that affects many across the Union.

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The Rise Of Modern Environmental Federalism

in Economics/Politics by

Too often, the realm of environmental policy has gone down unforgiving roads. In terms of regulating industry being one of those many roads, the devil in the details become exposed. At this point, a Pandora’s box of nonsensical regulation envelopes the free marketplace with unrealistic standards that limit and restrict growth for an economy. Upon the transition of power, visa vi the transition of an Obama White House to a Trump White House, the American Environmental Protection Agency had nearly unchecked power. Now, as we see the rise of individuals like Scott Pruitt and Ryan Zinke to lead the nation’s…

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The Conservative Case Against Right To Work

in Economics/Politics by

On Thursday, the Missouri State Legislature passed right to work legislation, sending it to the desk of Governor Eric Greitens. Should Greitens sign the bill, Missouri would become the 28th right to work state. Right to work laws are becoming more and more popular among conservatives and have spread to many new states in recent years. However, the effect of right to work on the freedom of business owners is not usually considered. Right to work laws allow employees to opt-out of paying union dues or being a member of a union as a condition of employment at a given…

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Trump Vows To Expedite FDA Approvals

in Economics/Politics by

President Trump met Tuesday with the heads of several pharmaceutical companies at the White House. During the Oval Office meeting, Trump discussed bringing more pharmaceutical jobs back to the U.S. and making drugs more affordable. He urged the drug companies, which included Johnson and Johnson, to bring more jobs back to America, saying, “So you have to get your companies back here. We have to make products…” “We have no choice,” he added in typical Trumpian fashion. He called on the execs to lower drug prices, which are exorbitant, saying, “We have to get prices way down.” Trump’s first point…

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Awkward: Trump’s Wall Is A Progressive Policy

in Economics by
trump

‘This Congress is going to be the busiest Congress in decades — maybe ever.’’ With these words, President Donald Trump urged fellow Republicans in Congress to help him halt illegal immigration by supporting his plan to build a United States-Mexico border wall. But a wall that isn’t erected by the private land owners bordering Mexican land owners isn’t a wall. It’s government spending. And if government is spending, someone else is footing the bill. That someone is you and me.

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Free Markets At Home The Cure To Outsourcing Abroad

in Economics/Politics by

Fixing the outsourcing epidemic requires looking to treat the cause, not the symptom. The case for free trade is simple. Businesses should be able to locate where they want and import what they want. International free market activity is fundamentally parallel to that which occurs within U.S. borders. Thus, when everyone is doing what they are most efficient at, all benefit. For example, Floridians may be efficient at producing produce while Missourians may be most efficient raising livestock. Kansans may be best at growing crops while Pennsylvanians may be best at making steel. The same holds true internationally. The U.S.…

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President Meets With CEOs. Here’s The Problem…

in Economics/Politics by

“They’re going to have to pay a border tax — a substantial border tax,” President Trump pledged Monday morning during a White House meeting with twelve CEOs including the heads of Dow Chemical, Proctor and Gamble, and Ford. He went on to thinly veil threats against the businessmen, saying, “All you have to do is stay. Don’t leave. Don’t fire your people in the United States.” The President also discussed a 75% regulation cut and tax cuts for both the middle class and for corporations and a ‘big border tax.’ This is troubling for several salient reasons. Primarily, the public…

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Why Does The Left Riot? Because They Don’t Work!

in Culture/Economics/Politics by

On Saturday, hundreds of thousands of protesters took to the streets of Washington D.C. to express their disdain for the live incarnation of sexism, President Donald J. Trump himself, and the misogynist patriarchy during the Women’s March on Washington. Throughout the 2016 election cycle, massive and unprecedented rioting and protesting has taken place at Trump rallies, after election night, and again during and after the inauguration. What brings the left out in force to riot? And why weren’t Republicans doing the same thing to President Obama, Bernie Sanders, and Hillary Clinton? Rioting became out of control during several Trump rallies…

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Hands Off My Healthcare: Opposition To Obamacare, Explained.

in Economics/Law/Politics by

Unless you’re Bill Belichick, you may have heard a thing or two about the impending repeal of The Affordable Care Act on Snapface or Instachat. Actually, you’ve probably heard quite a lot. From Esquire stating 30 million people lost their healthcare overnight, to countless pithy tweets and Facebook quotes about the evils of the Republicans for wanting to deny coverage to the American people. The problem is that this isn’t true. The Affordable Care Act has NOT been repealed. Nor have any provisions been dismantled. The infamous late-night vote you surely read about was to authorize congress to modify Obamacare’s funding down the…

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Taxation, Regulation: Not Reasons To Legalize Pot

in Culture/Economics/Law/Politics by

In the marijuana legalization debate, two talking points are often utilized: taxation and regulation. These are good arguments from a liberal perspective, but quite problematic in a conservative or libertarian context. The basis for justifying the legalization of marijuana is simple. Consenting adults should be allowed to choose what to put in their bodies, whether or not it’s harmful, so long as there are no externalities. This is the only legitimate and principled basis for legalization.

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Is Buying American Really Being American?

in Economics/Philosophy/Tech by

On Monday night, “Dirty Jobs” host Mike Rowe joined Tucker Carlson on Fox News to discuss Ford’s and Chrysler’s respective plans to reinvest in U.S. manufacturing. Rowe, who is a proponent of technical and skilled jobs, told Carlson, “Get a skill that’s in demand, that’s really in demand, that can’t be outsourced. Plumbers, steamfitters, pipefitters, carpenters, mechanics, those men and women right now … can pretty much write their own ticket”. Rowe is right about skilled jobs. According to the Manhattan Institute, there are around a half-million U.S. skilled jobs that aren’t being filled. Millennials are spending their time in…

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Relax, Hippies: Jeff Sessions As Attorney General Isn’t The End Of The World

in Culture/Economics/Politics by

The hypocritical liberals are sounding the alarms about Jeff Sessions being President Trump’s pick for Attorney General. Suddenly and conveniently, they care about civil liberties and the rule of law again now that they have lost political power. Nevertheless, they are blowing smoke and relying on ignorance to push their tired agenda. The George Soros-funded Drug Policy Alliance (DPA) is especially ham-fisted in their nauseating “analysis” of the appointment. Purportedly a nonpartisan group, their true colors were shown after they released a ridiculous screed filled with so much nonsense that looks as if it was drafted by John Podesta himself:

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The Trump Rally: Stocks Fly High As Confidence Surges

in Economics/News/Politics by

The election of President-elect Donald Trump last month has awakened, what some people are calling, the “animal spirits” of capitalism. Anyone with a 401k or money in the stock market could tell you that things are going very well at the moment. The election of President-elect Trump and conservative, pro-market Republican majorities in the House and Senate represents a turning of the page from eight years of growing tax burden, government spending, and red tape. The Trump Rally, as some pundits are calling it, has resulted in the Dow Jones Industrial Average jumping 1,600 points since 2016’s election day. Such…

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