Progressive-Democrats and Economic Recovery

Progressive-Democrats don’t seem to care about economic recovery, only about using the current Wuhan Virus situation and the economic dislocation the virus has spurred for their own political power gain.

This is made plain by House Speaker Nancy Pelosi (D, CA) in an interview she gave to CBS NewsFace the Nation Sunday.

…what we will not support is the following. What they’re saying to essential workers, you have to go to work because you’re essential. We’ve place no responsibility on your employer to make that workplace safe and if you get sick, you have no recourse because we’ve given your employer protection.

Tax Misallocation

The misallocation, this time, is not in the way our tax monies are being spent.

It’s in what our money is not being spent on in lieu of paying those taxes in the first place.

According to a 2018 Bureau of Labor Statistics survey—before the 2017 tax reform bill had been able to percolate into our economy in any serious way—we Americans spent more on the taxes Government exacts from us than we did on food, clothing, and health care combined.

Byzantine Taxing

Many companies, sitting on billions of dollars of tax credits, want to be able to cash them in promptly.

For example:

Duke has been unable to use all the corporate-research and renewable-energy credits it accumulated because it has been using accelerated tax deductions for capital investments to lower its taxable income, said Dwight Jacobs, the company’s chief accounting officer. That bumped it up against tax-code rules that limit tax credits, leaving $1.8 billion in unused credits on Duke’s books. Under the proposal, the company could get that within months instead of years.
The proposal “would give us more cash today and that would cause us to avoid borrowing money that we would otherwise have to borrow,” said Mr Jacobs.

Foolishness

The United Teachers Los Angeles union put out a paper earlier this month, and among the union’s claims is this one”

Police violence is a leading cause of death and trauma for Black people, and is a serious public health and moral issue.

Wow.

There are thousands of blacks killed or traumatized and families traumatized by other blacks every year. Police violence causes more black deaths and trauma than that?

Thousands of black babies murdered in the womb every year. Police violence causes more black deaths and trauma than that?

An Efficient Labor Market

A writer, published in Wall Street Journal‘s Letters, responded to the idea that emphasis on education credentials over actual experience averred that the emphasis isn’t at all misplaced.

It’s more likely that there is a limited number of high-wage jobs available and that the market has efficiently set the wage based on the supply/demand curves.

This is a remarkably ill-informed claim, assuming as it does that we actually have an efficient market in labor.

Such a market cannot exist, though, in an environment where unions have monopoly power over labor in the industries in which they operate, nor can it exist in an economy with such widespread minimum wage mandates.

Becoming Happy

It’s what Thomas Jefferson said a while ago:

If we can prevent the government from wasting the labors of the people, under the pretence of taking care of them, they must become happy.

If the people become happy, though, they—we—would have little need for so large a government. And that would put a lot of bureaucrats, and most importantly, politicians out of business.

That is what today’s Progressive-Democrats and too many establishment Republicans fear, even above fearing failing our nation—being unnecessary.

The Party of Economic Sense

A Sunday editorial in The Wall Street Journal provides some pretty dispositive data concerning State economic behaviors during the present Wuhan Virus situation.

The baseline: the national unemployment rate for May was 13.3%.

Ten States remained above even 15% in their individual unemployment rates:

  • Nevada 25.3%
  • Hawaii 22.6%
  • Michigan 21.2%
  • California 16.3%
  • Rhode Island 16.3%
  • Massachusetts 16.3%
  • Delaware 15.8%
  • Illinois 15.2%
  • New Jersey 15.2%
  • Washington 15.1%

These States also had some of our nation’s most draconian lockdown requirements.

More Federal Money to States and Locals?

The “unrest” sparked by the murder of George Floyd in Minneapolis, and now by the killing of Rayshard Brooks in Atlanta, is encouraging Congressmen to include increased funding for State and local jurisdictions in any “next stimulus” package that might be in the offing.

States and cities facing budget shortfalls have warned they might need to pare back spending on public safety, including police officers and fire protection.

“Including police officers and fire protection” is a cynical excuse for spending yet more OPM.

Constitutionally Mandated Federal Funding

House Progressive-Democrats have unveiled their “police reform” bill, a proposal crafted explicitly without Republican input. That last is neither here nor there for this post’s purpose. What matters is this claim in Eliza Collins’ Wall Street Journal article describing that bill and its alleged purpose:

The bill doesn’t provide any new federal funds for police departments, except where constitutionally mandated for data collection, according to Democratic aides.

This is an amazing claim. Maybe those Progressive-Democratic aides—or even Reporter Collins—would like to point to that clause in our Constitution that mandates Federal funds to police departments for any purpose, let alone “data collection.”

Censoring the Media

The censors have expanded their operation from the Facebooks, Alphabets, Twitters of our nation to our newsroom simulacra. Daniel Henninger noted the latest examples of the invasion:

In the past week, the editorial page editor of the New York Times, the editor of the Philadelphia Inquirer, and the editors of Bon Appétit magazine and the young women’s website Refinery 29 have been forced out by the staff and owners of their publications for offenses regarded as at odds with the beliefs of the current protests.

It’s more than mere censorship, though. It’s George Orwell and Franz Kafka in the press room collaborating on the press’ editorials.