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Debt Limit Negotiations – Threat Or Opportunity For Fiscal Conservatives?
/in Economy, Liberty, Politics /by Thomas C. PattersonSurprise, surprise! It’s time to go through the debt limit-raising hassle again. Democrats are clamoring for immediate action to avert a financial crisis which would be blamed on Republicans, just because. Meanwhile, the Republican campaign conservatives aren’t showing much enthusiasm for this rare possibility of achieving significant fiscal reform. Treasury Secretary Janet Yellen rolled out […]
YouTube Banning Prominent Anti-Vaccine Mandate Activists and Blocking All Vaccine Critical Content
/in Culture Wars, DrRichSwier.com, Economy, Healthcare, News, Politics, Science /by Pamela GellerTotalitarianism on the left is spreading quicker than any COVID variant. What’s more frightening? The Democrats? Or American apathy? If you want the vaccine, get the vaccine. But if you don’t want the vaccine, you shouldn’t have to worry about being fired. — Rep. Jim Jordan (@Jim_Jordan) September 29, 2021 YouTube is banning prominent anti-vaccine […]
Manchin Drops The Hammer
/in Economy, Politics /by Neland NobelAfter weeks of speculation about the position of Senator Joe Manchin (D-WV), the Senator made the following statement about the proposed $3.5 trillion dollars worth of Biden’s new spending: “Every Member of Congress has a solemn duty to vote for what they believe is best for the country and the American people, not their party,” […]
Does Biden’s $1.2 Trillion Infrastructure Bill Include a Mileage Tax?
/in Budget and Finance, Culture Wars, DrRichSwier.com, Economy, News, Politics, Regulation, Taxes /by Foundation for Economic Education (FEE)Here’s a dismaying prospect: Paying 6, 8, or 10 cents in new taxes for every mile you drive. It may sound small, but at an 8 cent rate, that would be $1,144 in new annual taxes for the average American, who drives about 14,300 miles a year. Yikes! Some on social media are claiming that […]
The Most Splendid Housing Bubbles in America: Holy Cow, September Update
/in Culture Wars, Economy, News /by Wolf RichterEven the Fed is getting antsy about this raging mania house-price inflation. Housing Bubble 1 is starting to look cute in comparison. House prices spiked 19.7% from a year ago, the biggest year-over-year increase in the data going back to 1987, according to the National Case-Shiller Home Price Index today. But the national index of this raging […]
Arizona Could Be Ground Zero in U.S. Microchip Self-Reliance
/in Economy, National Security /by Cole LauterbachArizona’s technology sector will play a prominent role in American manufacturing’s latest plan to reclaim its title as the world’s leader in semiconductors from Asia. One of the lessons learned from the COVID-19 pandemic was the need for U.S. manufacturing companies to diversify their supply chains. Semiconductor production slowed to a crawl in 2020, causing […]
Critics Pan Biden’s Claim $3.5 Trillion Spending Bill Costs ‘Zero’
/in Economy, Liberty, Politics /by Casey HarperPresident Joe Biden is taking fire for comments he made about his $3.5 trillion legislation just as the bill faces a deeply split Congress. Biden made headlines for claiming the bill would cost “zero dollars,” despite media reports and members of both parties commonly naming the bill’s cost at $3.5 trillion for the last several […]
U.S. Household Incomes Increased More in 2018 Than in the Previous 20 Years—Combined
/in DrRichSwier.com, Economy, Elections, News, Politics, Taxes /by Foundation for Economic Education (FEE)Why did U.S. incomes suddenly explode in 2018 after decades of tepid growth? The answer is not difficult to find. For years, a school of economists has complained that US wages have been virtually stagnant for decades. “Jobs are coming back, but pay isn’t. The median wage is still below where it was before the […]
White House Press Secretary Jen Psaki Refuses to Acknowledge Economic Reality Because She Thinks It’s Mean
/in Culture Wars, DrRichSwier.com, Economy, Elections, News, Politics /by Foundation for Economic Education (FEE)Whether Psaki and Biden think that corporate tax hikes should lead to lower wages or high prices is utterly immaterial. They do. Ayn Rand famously quipped, “You can avoid reality, but you cannot avoid the consequences of avoiding reality.” White House Press Secretary Jen Psaki’s latest viral flub seems perfectly calibrated to confirm the late […]
New Wine Company is an Unabashed Cheerleader for America [+Video]
/in Culture Wars, DrRichSwier.com, Economy, Politics /by 2ndvote .com It’s becoming a popular fad for companies to focus on America’s so-called faults, not our freedoms. Bank of America (1.00): “All Americans need to see racism as a national issue.” American Express (1.00): “George Floyd, Breonna Taylor, Ahmaud Arbery and Christian Cooper are just the latest victims… that indicate we still have a very long […]
Biden’s Wrecking Ball for Financial Privacy
/in Culture Wars, Economy, Liberty, Politics /by James BovardThe Biden administration is seeking to compel banks to report to the IRS any bank account with more than $600 in transactions per year. This proposal is a linchpin of Biden’s American Families Plan, and will supposedly help generate almost $500 billion in federal revenue over the next decade. But previous catch-all financial reporting requirements […]
Phoenix To Use Federal Funding for Universal Basic Income Pilot
/in Economy, Liberty, Politics /by Cole LauterbachOne thousand lucky Phoenix families will get $1,000 in taxpayer funding a month in 2022. The Phoenix City Council has approved $12 million for a “Financial Assistance for Phoenix Families Program,” a lottery-based form of universal basic income that will begin in January 2022 if not sooner. The program, which has yet to be finalized, […]
China’s Crackdown on Debt, Tech & Evergrande Sends Frazzled Wall Street Titans to China
/in Economy, National Security /by Wolf RichterThe property sector and its debts are possibly the biggest financial mess in China’s history. The crackdowns by Chinese authorities on some of the biggest hype-and-hoopla industries have sent investors heading for the exits. There is a crackdown on debt to keep the financial system from imploding. There’s a crackdown on property speculation to tamp […]
Essential Marxist Reading for Liberals and Conservatives
/in Culture Wars, Economy, Education, Liberty, Politics /by Craig J. CantoniA review and overview of The Cult of Smart, by Fredrik deBoer, All Points Books, 276 pages. Fredrik deBoer is the author of The Cult of Smart, a book that unwittingly explains the sharp left turn of the Democrat Party and a growing number of young Americans. It also shows why the widening chasm between […]
Democrats’ $3.5 Trillion Socialist Dream Is Tax-and-Spend Nightmare
/in Culture Wars, Economy, Liberty, Politics /by Deroy MurdockHouse Speaker Nancy Pelosi plans a vote soon to push Sen. Bernie Sanders’ $3.5 trillion socialist dream budget one step closer to law The news gets worse from there. Every other detail about this onerous legislation merits scorn, revulsion, and rejection. The so-called Build Back Better budget resolution boasts a $3.5 trillion price tag. Taxpayers should be […]
4 Ways to Understand Democrats’ $3.5 Trillion Spending Bill
/in Culture Wars, Economy, Liberty, News, Politics /by David DitchHouse Democrats have unveiled pieces of the $3.5 trillion spending bill over the past several weeks. Most legislation focuses on specific issues, which makes it possible to have constructive debate. However, this bill covers welfare, immigration, taxes, energy, families, and much more, making it extremely difficult to comprehend. Providing context on this tax-and-spend bill’s size […]
U.S. Chamber of Commerce: Dems’ $3.5 Trillion Spending Bill ‘Existential Threat’ to Economy
/in Economy, Politics /by Casey HarperOne of the nation’s leading economic and business groups is warning that the $3.5 trillion spending bill before Congress is an “existential threat” to the nation’s economy. The U.S. Chamber of Commerce has launched a six-figure television ad campaign targeting the proposed tax hikes in the measure that would be “taking more hard-earned money from […]
Eliminating Crude Oil Is Like Jumping Out Of A Plane Without A Chute
/in Economy, Environment, Liberty, Politics /by Ronald SteinThe world and the Intergovernmental Panel on Climate Change (IPCC) are proposing banishment of fossil fuels and are focused on reducing emissions from fossil fuels at any costs, but a safety net of having a viable replacement should be in place before we jump off that cliff. Banning oil imports, fracking, and ceasing oil production […]
American Investors Are At Risk If Congress Continues To Give Fraudulent Chinese Companies A Pass
/in Economy, Liberty, National Security, News, Politics /by Helen RaleighBeijing’s refusal to comply with U.S. law while continuing to access our capital markets has subjected U.S. investors to the risk of enormous financial losses. Concern this week about the possible collapse of China’s Evergrande, which has a massive debt burden of $305 billion, highlights one more reason Congress needs to act to protect U.S. […]
From Diseases to Recessions, Government Failure Is Endemic
/in Economy, Healthcare, Liberty /by Mihai MacoveiMassive government intervention in the aftermath of the global financial crisis has not prevented the Great Recession, but had actually deepened and prolonged it until the covid-19 pandemic and government lockdowns sent the economy into a tailspin in 2020. Larger monetary and fiscal growth stimuli followed, exacerbating previous economic distortions. In the same way that […]
How the Left Is Spreading Global Warming Alarmism on the Right
/in Economy, Environment, Liberty, Politics /by Hayden LudwigIf there’s one thing the Left knows cold, it’s deception. From Vladimir Lenin to Saul Alinsky, leftists are unparalleled masters of the art of victory through hoodwinking: Defeating opponents by fooling them into false agreement. Owning the battlefield in this war starts with controlling the language. We’ve seen this play out in the debate over […]
Tax and Spend: Arizona’s Battle over Proposition 208 Goes to the Courts
/in Economy, Education, Politics /by Timothy Sandefur & Matt BeienburgHow progressives are using ballot initiatives to raise taxes. Last year, as part of their efforts to expand government subsidies to teacher unions, progressives across the country targeted Arizona’s ballot box with an unusual initiative to impose a potentially devastating new income tax on the state. Fortunately, the Arizona Supreme Court effectively ruled the initiative unconstitutional […]
Elizabeth Warren Revives Terrible Pandemic Policy
/in Culture Wars, DrRichSwier.com, Economy, Politics, Waste, Fraud and Abuse /by Foundation for Economic Education (FEE)In late August, the Supreme Court struck down the Centers for Disease Control’s so-called “eviction moratorium.” The justices ruled that the federal agency did not have the legal authority to unilaterally extend a prohibition on the eviction of non-paying tenants in many circumstances. This was a win for both the rule of law and for […]
Tax Increases Cannot Pay for the Democrats’ Reconciliation Bill
/in Economy, Liberty, Politics /by Travis NixWith a projected deficit of $3 trillion for this year already, congressional Democrats are moving full speed ahead to spend an additional $3.5 trillion over the next 10 years with no clear plan to pay for it. Despite claims by Speaker Pelosi and key Senator Mark Warner (D-VA) that the Democrats’ $3.5 trillion spending package […]
ANALYSIS: Biden’s Vaccine Mandate Hurts Working Class America The Most
/in Culture Wars, DrRichSwier.com, Economy, Elections, Healthcare, News, Politics, Waste, Fraud and Abuse /by The Daily CallerPresident Joe Biden’s executive action requiring most U.S. workers to get vaccinated hurts working class Americans the most, according to polling and vaccination data. “Unfortunately, this disproportionately harms people of lower socioeconomic groups,” Jeffrey Singer, a health policy expert at the Cato Institute, told the Daily Caller News Foundation when asked about Biden’s vaccine mandate. […]
Biden Tax Proposal Would Cost Arizona Thousands of Jobs, ASU Report Estimates
/in Economy, News, Politics /by Cole LauterbachPresident Joe Biden’s proposal to increase the United States’ Global Intangible Low-Tax Income (GILTI) tax will lead to job losses at 266 public companies in Arizona, according to research from Arizona State University. The proposal doubles the GILTI rate to 21% from 10.5%. Ninety-four percent of U.S manufacturers believe the increase will harm their business, […]
Democrats Aim To Choke Off Arctic Drilling With Provision Tucked Into Reconciliation Package
/in Economy, Environment, Politics /by Tristan JusticeTucked into the massive legislation are restored protections to bar drilling within the Arctic National Wildlife Refuge’s 1002 Area. House Democrats are seeking to exploit the reconciliation process with a $3.5 trillion dollar package in pursuit of high-priority progressive programs. That wish list includes a litany of items on the left-wing green agenda, with protections […]
Democrats’ “Climate Change” Is Fake But Their Taxes Are Real
/in Economy, Environment, Liberty, Politics /by Seton MotleyClimate alarmism provides an excuse for increased taxation of fossil fuel companies, which inevitably shift this cost burden to the consumer. Sports coaches preach having “no memory.” Meaning you have to forget your mistakes. A football quarterback has to forget his last pass was an interception. Because he needs to think about his next pass. […]
Sorry, AOC, Rich Already Pay Their Fair Share
/in Economy, Liberty, Politics /by David HarsanyiRep. Alexandria Ocasio-Cortez donned an elegant gown with the slogan “Tax the Rich” painted on the back at the Met Gala in New York, where guests selected by Vogue’s Anna Wintour ponied up around $35,000 a pop for tickets. The scene was reminiscent of Tom Wolfe’s “radical chic” — though rather than being guests of […]
Treasury Department Seeks to Track Financial Transactions of Personal Bank Accounts Over $600
/1 Comment/in Courts & Law, Culture Wars, DrRichSwier.com, Economy, News, Politics, Waste, Fraud and Abuse /by Foundation for Economic Education (FEE)In May, the Treasury Department released the Biden administration’s revenue proposals for fiscal year 2022. One aspect of this document that has gone under-reported is the administration’s new plan for reporting requirements for financial institutions. The document is unequivocal about the administration’s goal for financial reporting, stating, “this proposal would create a comprehensive financial account information reporting […]