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Commission of Sin | Michael D. Tanner | Cato Institute: Commentary: "But to focus on the deficit is to confuse the symptom with the disease.
As Milton Friedman often explained, the real issue is not how you pay for government spending—debt or taxes—but the spending itself. In other words, don't just look at the deficit; look at why we have a deficit. And the reason why we have a deficit is pretty simple—government spends too much.
For years, Republicans have tried to dodge the tough questions about government spending by substituting debt for taxes. They felt that as long as they were cutting taxes, no one would notice that they were spending like drunken Democrats."
"After all, every dollar that government spends is a dollar that is siphoned off from American workers regardless of whether it is raised through debt or taxes. Both divert money from more efficient uses in the private sector to less-productive uses in the public sector. Both mean fewer jobs and less economic growth."
Saturday, March 13, 2010
The Progressive Fallacy on Free Speech | Will Wilkinson | Cato Institute: Commentary
The Progressive Fallacy on Free Speech | Will Wilkinson | Cato Institute: Commentary: "Corporations are not essentially villainous agglomerations of money and power. They are a convenient form of social organization that enables large numbers of people to undertake cooperative endeavors. Non-profit corporations, like Citizens United or the ACLU, provide individuals the opportunity to amplify their lone voices in harmony with like-minded others. Meanwhile, for-profit corporations are little more than lenders' co-ops — a way for people to pool their resources to finance what look to be profitable lines of business. It is true that managers of corporations can — and do — take advantage of their owners and creditors. But there is a staggering number and diversity of for-profit corporations, and most of them, most of the time, do right by their stakeholders. Moreover, very few ever get involved in electoral politics in a significant way."
"A single lobbyist with a good friend in the right place can deliver more to a special interest than many millions spent on campaign advertising. In 2009, $3.47 billion was spent on federal lobbying — a large sum, certainly, but not when you consider that the stimulus bill alone dispensed nearly $800 billion in public funds."
"A government that can make or break great fortunes invites a bruising and wasteful competition for its favor."
"A single lobbyist with a good friend in the right place can deliver more to a special interest than many millions spent on campaign advertising. In 2009, $3.47 billion was spent on federal lobbying — a large sum, certainly, but not when you consider that the stimulus bill alone dispensed nearly $800 billion in public funds."
"A government that can make or break great fortunes invites a bruising and wasteful competition for its favor."
Cut the Commerce Department to Boost Real Business | Chris Edwards and Tad DeHaven | Cato Institute: Commentary
Cut the Commerce Department to Boost Real Business | Chris Edwards and Tad DeHaven | Cato Institute: Commentary: "The government shouldn't be 'picking winners' by aiming taxpayer subsidies at certain industries. We should scrap all such corporate welfare and use the savings to cut business tax rates across the board. The effect would be to boost economic growth because more investment would flow to high-value private uses, and fewer resources would be misallocated by politicians."
"These import restraints drive up the prices of foreign goods to U.S. consumers and to U.S. companies that need imports in their own production. For instance, if we place barriers on imported steel, that would hurt U.S. auto companies and their workers in our assembly plants. Trade restrictions that hurt U.S. workers and consumers can also cause countries to retaliate against us, damaging America's exporting businesses, too."
"These import restraints drive up the prices of foreign goods to U.S. consumers and to U.S. companies that need imports in their own production. For instance, if we place barriers on imported steel, that would hurt U.S. auto companies and their workers in our assembly plants. Trade restrictions that hurt U.S. workers and consumers can also cause countries to retaliate against us, damaging America's exporting businesses, too."
Take a Pass on Trains | Randal O'Toole | Cato Institute: Commentary
Take a Pass on Trains | Randal O'Toole | Cato Institute: Commentary: "For one thing, they really won't be very fast. Illinois expects to spend $3 billion increasing the average speed of the Chicago-St. Louis trains from 53 to 73 m.p.h. Calling these 'high-speed trains' is simply false advertising.
Second, even subsidized by taxes, the fares will be too high for most people. Fares on Amtrak's high-speed Acela from New York to Washington start at $133. Megabus and other unsubsidized bus companies offer the same trip for around $15. The buses have free WiFi; Amtrak has NoFi."
"Proponents argue the trains will be convenient for downtown-to-downtown trips. But less than 8% of Americans work in big-city downtowns — mainly bankers, lawyers and government bureaucrats. Should it really be a state priority to subsidize wealthy travelers?"
Second, even subsidized by taxes, the fares will be too high for most people. Fares on Amtrak's high-speed Acela from New York to Washington start at $133. Megabus and other unsubsidized bus companies offer the same trip for around $15. The buses have free WiFi; Amtrak has NoFi."
"Proponents argue the trains will be convenient for downtown-to-downtown trips. But less than 8% of Americans work in big-city downtowns — mainly bankers, lawyers and government bureaucrats. Should it really be a state priority to subsidize wealthy travelers?"
Torture under Obama | Nat Hentoff | Cato Institute: Commentary
Torture under Obama | Nat Hentoff | Cato Institute: Commentary: "In August, Holder's task force on interrogation, commissioned by the president, 'recommended no changes' to the Army Field Manual, thereby retaining the torture loopholes focused on now by the tracker of al-Zarqawi.
To begin, an appendix to the Manual allows a detainee (a.k.a. prisoner) to be kept in solitary confinement indefinitely. As Alexander point out, 'extended solitary confinement is torture, as confirmed by many scientific studies.' And the prestigious Manual allows suspects just four hours sleep in 24 hours. 'As if this wasn't enough,' Alexander continues, a loophole permits interrogators, Mr. President, 'to give a detainee four hours of sleep — and then conduct a 20-hour interrogation, after which they can 'reset' the clock and begin another 20-hour interrogation followed by four hours of sleep.'"
"Until this change in the Army Field Manual, Alexander points out, an interrogator going beyond 20 straight hours of interrogation (as if that weren't inhumane enough) was referred to as 'monstering' in that line of work."
"According to General Washington, 'Should any American soldier be so base and infamous as to injure any prisoner ... by such conduct they bring shame, disgrace and ruin to themselves and their country.'
What Washington meant by 'such conduct' was the brutal, vicious ways the British army was interrogating their American prisoners. George Washington was The Army Field Manual during our Revolutionary War."
To begin, an appendix to the Manual allows a detainee (a.k.a. prisoner) to be kept in solitary confinement indefinitely. As Alexander point out, 'extended solitary confinement is torture, as confirmed by many scientific studies.' And the prestigious Manual allows suspects just four hours sleep in 24 hours. 'As if this wasn't enough,' Alexander continues, a loophole permits interrogators, Mr. President, 'to give a detainee four hours of sleep — and then conduct a 20-hour interrogation, after which they can 'reset' the clock and begin another 20-hour interrogation followed by four hours of sleep.'"
"Until this change in the Army Field Manual, Alexander points out, an interrogator going beyond 20 straight hours of interrogation (as if that weren't inhumane enough) was referred to as 'monstering' in that line of work."
"According to General Washington, 'Should any American soldier be so base and infamous as to injure any prisoner ... by such conduct they bring shame, disgrace and ruin to themselves and their country.'
What Washington meant by 'such conduct' was the brutal, vicious ways the British army was interrogating their American prisoners. George Washington was The Army Field Manual during our Revolutionary War."
Africa Needs Free Market Economies | Marian L. Tupy | Cato Institute: Commentary
Africa Needs Free Market Economies | Marian L. Tupy | Cato Institute: Commentary: "The sad truth is that humanitarian aid, be it dispensed by Western governments or by Western philanthropists, can only alleviate some of the symptoms of poverty. Healthier and better fed Africans will still face the challenge posed by political instability and stagnating economies."
"In countries with state control of the economy, opposition tends to weaken. Those who disagree with the ruling party soon find themselves without a job and without an income. In contrast, a free economy provides for diffusion of wealth and power. It also provides for higher rates of growth. Thus, between 1966 and 2006, Botswana's average annual growth rate was 7.22 percent — among the world's highest. Its income per capita adjusted for inflation and purchasing power parity rose from $671 in 1966 to $10,813 in 2005.
The work of magnanimous philanthropists like Bill Gates will hopefully alleviate some suffering in Africa. But if the world's richest people want to help Africa escape poverty, they should find ways of supporting genuine economic liberalization on the African continent."
"In countries with state control of the economy, opposition tends to weaken. Those who disagree with the ruling party soon find themselves without a job and without an income. In contrast, a free economy provides for diffusion of wealth and power. It also provides for higher rates of growth. Thus, between 1966 and 2006, Botswana's average annual growth rate was 7.22 percent — among the world's highest. Its income per capita adjusted for inflation and purchasing power parity rose from $671 in 1966 to $10,813 in 2005.
The work of magnanimous philanthropists like Bill Gates will hopefully alleviate some suffering in Africa. But if the world's richest people want to help Africa escape poverty, they should find ways of supporting genuine economic liberalization on the African continent."
Blackwater Uses the F(raud) Word | David Isenberg | Cato Institute: Commentary
Blackwater Uses the F(raud) Word | David Isenberg | Cato Institute: Commentary: "False Claims Act, a U.S. federal law which allows people who are not affiliated with the government to file actions against federal contractors claiming fraud against the government. Persons filing under the Act stand to receive a portion (usually about 15-25 percent) of any recovered damages. Claims under the law have been filed by persons with insider knowledge of false claims which have typically involved health care, military, or other government spending programs. The government has recovered nearly $22 billion dollars under the False Claims Act between 1987 and 2008."
Tea Partiers Should Get Serious | Gene Healy | Cato Institute: Commentary
Tea Partiers Should Get Serious | Gene Healy | Cato Institute: Commentary: "Rail against earmarks, foreign aid and 'welfare queens' to your heart's content. But all that comes to a rounding error in a $3.7 trillion federal budget, over 75 percent of which consists of defense and entitlements.
To his credit, Rep. Paul Ryan, R-Wis., ranking member on the House Budget Committee, has proposed a 'Roadmap for America's Future' that makes serious cuts: $650 billion over the next decade — for starters. After raising the retirement age, voucherizing Medicare and reforming the tax system, Ryan's plan would eliminate the long-term deficit, according to the Congressional Budget Office."
To his credit, Rep. Paul Ryan, R-Wis., ranking member on the House Budget Committee, has proposed a 'Roadmap for America's Future' that makes serious cuts: $650 billion over the next decade — for starters. After raising the retirement age, voucherizing Medicare and reforming the tax system, Ryan's plan would eliminate the long-term deficit, according to the Congressional Budget Office."
Just Say Snow | Doug Bandow | Cato Institute: Commentary
Just Say Snow | Doug Bandow | Cato Institute: Commentary: "If you believe the official estimates, the three day federal shut-down cost Americans nearly a billion dollars. But don't worry. Although Snowmaggedon has been awful for those of us who live in the region, it likely has saved the American people billions of dollars by slowing down the waste of tax dollars and limiting the harm of regulations."
Tuesday, March 09, 2010
GM Stake Compromises Obama in Toyota's Recalls | Daniel J. Ikenson | Cato Institute: Commentary
GM Stake Compromises Obama in Toyota's Recalls | Daniel J. Ikenson | Cato Institute: Commentary: "there is no avoiding a conflict of interest when the government regulates an industry in which it has major stakes in one of the firms. One cannot objectively referee a race in which it has its own horse."
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