Tag: government and politics
Evaluating Our Inflation Gurus
Back in June, Federal Reserve Chair Jerome Powell said the mid-year spike in inflation was temporary, and John Williams, President of the Federal Reserve Back of New York, said he expected inflation in 2021 to be around 3% for 2021. These are the people who are in charge of managing inflation. At the time,...
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Why the Casual Attitude Toward Inflation?
The Federal Reserve and the Biden administration seem to have a very casual attitude toward inflation. When inflation started to draw some attention, the Federal Reserve’s official line was that it was transitory. In June, Federal Reserve Chairman Jerome Powell said it was temporary, and John Williams, President of the New York Federal Reserve...
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An Empirical Defense of Congressional Filibusters and Super-Majority Voting Rules
Deliberative democracy is a noble ideal that politics reduces to romantic fiction. Deliberations rarely produce unanimous agreement due to the divergent interests of politicians and their constituencies. The upshot is that policy issues, both great and small, often are resolved by narrow majority votes. As the jurist and legal scholar Robert Bork noted, even...
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California Covid Contradictions
As Katy Grimes of the California Globe notes, some 20 months after Gov. Gavin Newsom locked down the state, San Francisco city and county still do not allow the public to attend public hearings in person. The rule proved no barrier to a November 6 wedding of Ivy Getty at San Francisco City hall,...
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Transitory Inflation? Move Along. Nothing to See Here.
Many Beacon readers will be aware that the current rate of inflation, measured by the government’s Consumer Price Index, is 6.2%, measured from October 2020 to October 2021. Jerome Powell, Chair of the Federal Reserve Bank’s Board of Governors, says this inflation is transitory. Yet he also says we could be seeing high inflation...
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Democrats’ Proposed Higher Cigarette Tax Would Harm the Most Vulnerable
House Democrats want to double federal tobacco taxes to help pay for President Joe Biden’s proposed $3.5 trillion reconciliation bill. While increases would add an estimated $96 billion to revenues, Democrats have failed to explain how the tax hikes wouldn’t be a direct attack against the very group of Americans that presidential candidate Joe...
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Does Joe Biden’s Multi-Trillion Dollar Spending Plan Pay for Itself?
How can a plan that proposes to spend trillions of dollars cost nothing? The Orwellian answer from the president is that the plan includes tax increases claimed to match its expenditures.
White Coat Waste Meets White Coat Supremacy
The non-profit White Coat Waste Project charges that Dr. Anthony Fauci’s National Institute of Allergy and Infectious Diseases (NIAID) funded a lab experiment in Tunisia that drugged beagles and locked their heads in mesh cages filled with sand flies. White Coat Waste also claimed that some of the dogs had their vocal cords removed...
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For Want of Trucks, Christmas May be Lost for Many American Families
Have you gone shopping lately? Have you begun noticing empty shelves in the places you shop? To many, that will sound like a replay of the arrival of the coronavirus pandemic in 2020. Except today’s empty shelves aren’t because Americans are panic buying things like toilet paper or cleaning supplies. That’s so 2020. No,...
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Biden’s Plan to “Tax The Rich” Will Cost the Middle Class
Many readers will be aware that President Biden has proposed new taxes on the rich to help fund his expenditure plans. As this article explains, a big part of his tax proposal is to tax the unrealized capital gains of people who have assets exceeding $1 billion, which is about 700 people. Despite objections...
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