Tag Archives: economics

One More Reason…

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The Environmental Protection Agency is turning more and more into a Progressive-Democratic Party agenda protection agency and less and less devoted to protecting our environment. Recall that the EPA has been busily using some of its Inflation Reduction Act funding allocation to fund an outfit backing anti-Israel protests. It turns out that the EPA is using another tranche of its IRA allocation to fund groups that oppose immigration enforcement. The EPA received $3 billion for Environmental and Climate Justice block grants.

Here’s what the EPA is doing with those dollars:

EPA tapped Fordham University as a grantmaker to distribute $50 million, in collaboration with the New York Immigration Coalition (NYIC) and the New Jersey Alliance for Immigrant Justice (NJAIJ).

Aside from those agencies having nothing to do with climate, as the WSJ‘s editors note (I note, also, that climate is only peripherally related to the EPA’s environment DOC), the NYIC (at the least) sees its immigration role as one of defunding and getting rid of Immigration and Customs Enforcement.

This is just one more reason to abolish the EPA altogether and return its personnel, from Secretary on down to the janitors, to the private sector.

We do need an agency of some sort to protect the environment, but not this one, which is so badly damaged that it cannot be rehabilitated. The replacement needn’t be a huge and sprawling agency devoted to pseudo-science (atmospheric CO2 is more pollutant than plant food?), and so what’s used for the EPA’s budget needn’t be so monstrously huge, either. The difference could even be used to pay down some small part of the debt the Progressive-Democratic Party has been inflicting on our federal government.

Maybe…

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California has been getting plenty of rain for a couple of years—the State even has declared its drought over—and so reservoirs are nearly full and aquifers are refilling.

However.

…many farmers in Central Valley, America’s fruit and vegetable basket, will get just 40% of the federal water they are supposed to this year.
Why? Endangered fish.

The problem, to the extent it’s a legitimate problem (spoiler: it isn’t), is that those reservoirs and aquifers are in northern California, and the Central Valley…isn’t. That water must pass through the Sacramento-San Joaquin Delta to get to the Central Valley. Fish swim in the Delta, though, including some that are on the Endangered Species Act’s lists.

California’s environmentalists have functional control over the Delta, and they insist that fish are more important than food.

And downstream fallout—here’s just one example:

The nonprofit Latino Equity, Advocacy & Policy is converting a former cantaloupe and asparagus plant into a center to teach new work skills.

Maybe California’s farmers should look hard at eschewing planting for one year; leave their fields, en masse, to lie fallow. Alternatively, look into leasing their farm fields for that year (or longer if the deal works well enough) to ranchers to graze their herds. Either of these would be good for the fields, too.

Let California’s environmentalistas and regulators live without California’s farm crops for an extended period of time.

The rest of us need to move to reclaim the US Bureau of Reclamation and get it back under control or entirely rescinded and its employees, top to bottom, returned to the private sector.

RFK Jr’s National Defense Plan

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Third party Presidential candidate Robert F Kennedy, Jr, now is promising to cut our national defense spending by 50% if he’s elected.

I will push for [a] 50% reduction in military expenditures in my first four years in office, with more cuts to come thereafter. A way to keep the dollar strong is to keep the country strong. We can do that by redirecting our bloated military budget toward infrastructure, education, and health, and building our economy and building small business.

Kennedy insists, instead, that the United States should

project strength through moral leadership and strong economics.

What would this Kennedy have us do, though, when our arming-up enemies—Russia, People’s Republic of China, Iran, among others—come with actual guns and bullets and destruction and killing. Does he expect our remaining armed forces to defend our nation by throwing copies of Aristotle’s Nicomachean or Eudemian Ethics at them? Or perhaps Marcus Aurelius’ Meditations? Maybe Summa Theologiae, the compendium of St Thomas Acquinas’ writings? All nine volumes—there’s some heavy artillery. Or something both older and more current, the Christian Bible, which contains—rapid fire, now—Judaism’s Torah.

How strong does Kennedy think our economy would be when moralizing in the face of bullets fails to persuade?

Does he really think our infrastructure, education, and health really will matter when they’re controlled by our conquerors? That our economy and small businesses will be for our benefit when they’re controlled by our conquerors? That our dollar will matter when the currency in effect is that of our conquerors?

Kennedy badly misunderstands the parable of the mouse and the owl: the mouse thinks the owl’s ways are wrong, while the owl thinks the mouse is lunch.

A Progressive-Democrat Governor and a Surtax

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New Jersey’s Progressive-Democrat Governor Phil Murphy once promised to let the State’s 2.5% surtax on businesses with incomes greater than $1 million expire and then, by implication, to leave it alone. He did the first part, and it did expire. But it turns out he dissembled on the second part.

Mr Murphy and his [Progressive-]Democratic Legislature are scrambling for money even though tax revenue has increased 35% over the past five years—faster than inflation.
…
Mr Murphy now wants to re-impose it on income above $10 million, retroactively to the start of this year.

Progressive-Democrats are so addicted to taxing Americans and our businesses that their promises to lower taxes or to leave alone existing taxes are worthless. Which calls into question the value of any other of their promises. Indeed, their addiction is so powerful that they’re not capable even of saying the words “cut spending,” much less actually doing so.

Maybe Murphy’s renewed surtax will hit only the wealthiest businesses, many based in other states, hard enough to persuade those in New Jersey to relocate to more business—and average American—friendly locations and persuade those based in other States to reduce or forgo doing business in New Jersey.

A Cautionary Tale

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A man lived with a girlfriend way back in the 1980s:

…in 1987, [the man] listed [his cohabitor] on a handwritten form as the sole beneficiary of his workplace retirement account. He never changed the beneficiary designation and died in 2015.

Two years later, the man and his cohabitor went their separate ways, but he left the beneficiary designation in place, unchanged and apparently unreviewed for all these decades. His family heirs, two brothers, won’t get the now million dollar inheritance; his cohabitor of those decades ago will, at least so far (the brothers have lost their court cases but have appeals in progress).

As it happens, when the man’s then-employer went to online employee account tracking and beneficiary designating, it never brought those paper forms into its computer systems. That’s no serious knock on this employer; lots of employers have left their paper documents outside their new computerized tracking systems.

The man’s employer, though, did send him repeated warnings about his beneficiary designation.

[The employer] said that it provided warnings when the company changed service providers, and online, and on his monthly statements, such as this one: “You don’t have any beneficiary designations online. Any prior beneficiary designations on file with the Plan will be retained by…, but are not viewable on this site.”

It’s anybody’s guess why the man didn’t review his beneficiary designation, but his reasons are irrelevant to this tale.

The caution: don’t be lazy or let life events be distractors. Every time there’s a life event—breaking up with a significant someone, marrying or deciding to live with a significant someone, birth of a child or grandchild or great-grandchild, death of an important someone, even something as mundane as an account trustee changing—it’s necessary, not just useful, to review all beneficiaries designated for all accounts a person might hold.

And make the changes that are appropriate for the new time.

The tale extends to financials generally. Financials are a family’s future; there’s no excuse for being “too tired” to review them and keep them current. Nor is “don’t have the time” any sort of excuse. There’s always time to deal with the family’s future.