Economics

"Thank You, Professor Sowell"

Thomas Sowell announced last week that he will no longer write his weekly columns. It's a serious loss--A Conflict of Visions is one of the ten best books on any subject I've ever read--but at age 86 it's quite understandable. Michelle Malkin writes goodbye:

Asked once how he would like to be remembered, Sowell responded: “Oh, heavens, I’m not sure I want to be particularly remembered. I would like the ideas that I’ve put out there to be remembered.” Mission accomplished. Though it has been decades since he taught in a formal classroom, his students are legion.

See also "14 Amazing Thomas Sowell Quotes in Honor of His Last Column".

 


"Can Trump end Washington’s biggest budget gimmick?"

I hope so, but I'm really pessimistic.

A few more links about the Swamp That Needs Draining (TM Donald Trump):

"Obama White House Releases Final Cost Of Regulation Report".

"When Regulation Does More Harm than Good: Too much red tape can be suffocating".

"Abolish the Department of Energy".

Finally, a nominee for the Mission Creep Hall of Fame: "USDA Demands Holiday Snacks (and Parents) Be Removed From Schools".


"New York’s Teamsters May Have Their Pensions Cut. What Went Wrong?"

Not the only cause, but apparently an important one is this:

But an examination of the fund identified other pernicious forces: most notably, illiquid, opaque and high-cost investments. At least 40 percent of the fund is in so-called alternative investments, including expensive private equity deals, hedge funds and real estate.


"North Carolina Wows with Its Impressive Tax-Cut Successes"

As you read about our current political uproar, I suggest keeping this in mind.

State governments are constantly competing for people and businesses, and North Carolina has proved that cutting taxes is a great way to come out on top. Since 2013, Governor Pat McCrory and the state legislature have cut taxes by an astounding $4.7 billion — and the result has been economic growth, job growth, and even additional tax revenue that could spur yet more tax cuts in the years ahead.


"California's Problems Will Continue to Compound"

We'll see, but until there's some political competition for the state's Liberals, it's the way I'd bet.

To effectively and efficiently address these three issues, Sacramento must honestly address their root causes - not just focus on providing relief for the symptoms. This requires hard work and removing the ideological lenses. But based on rhetoric (both from the election and since), it doesn't appear Sacramento is ready to solve these problems. It's more likely California's one-party rule will try to undo Proposition 13's tax protections, push for various transportation-related tax increases to fund a growing maintenance deficit, double-down on command-and-control environmental regulations (which have only been successful in making California more expensive, not more green), and advance symbolic fights against the Trump Administration.