Capitalism

“No More Solyndras?” Well, maybe just one more…

DemsGOP_energy.jpg

House Republicans have recently put forward a new bill, H.R. 6213, otherwise known as the “No More Solyndras Act.” It was passed by the House Energy & Commerce Committee on August 1st, and sounds quite promising when you consider the colossal mistake that Solyndra, supported by federal loans, was. It’s estimated that taxpayers will lose over half a billion dollars on Solyndra, which went bankrupt last year. Preventing that from happening again is a great idea.

Unfortunately, the Republicans backing this bill are not really saving you from another Solyndra, or Beacon Power, or Abound. For the “No More Solyndras Act” leaves a gaping hole—as in, everything before December 2011 is still totally cool.

See, it’s “No More Solyndras,” not “No Solyndras.” As the text of the bill makes plain, the Act only prevents new applications from new companies, not applications from ones “grandfathered” in:

Occupy DC Infiltrated, Calls for Violent Revolution

Occupy Wall Street - what’s that?  They’ve gone away, right? They haven’t.  They’re regrouping and preparing to ramp up.  Nick Tomboulides, Andrew McCaughey, and Danielle Saul recorded some remarks made by Mike Golash, former President Amalgamated Transit Union, Local 689, and others at a OccupyDC meeting held August 19, 2012.

They are not hiding their goals anymore - and no matter what your stance on the current state of our government, what is being said here should shock all patriots.

GOLASH: Progressive labor is a revolutionary Communist organization.  Its objective is to make revolution in the United States, overthrow the capitalist system, and build communism.  We’re trying to learn something from the historical revolutions of the past, the Russian revolution, the Chinese revolution, the revolutions in Cuba and Eastern Europe.

What can we learn from them so we can build a more successful movement to transform capitalist society?

The “historical revolutions of the past” don’t include the American Revolution - a revolution which created true freedom and prosperity and has been a model for such - but includes revolutions in which dictators were created who brutally tortured and slaughtered millions of their own people?

Regulatory Compliance Costs Don’t Always Have a Dollar Figure Attached

Cross-posted from Friction Tape.

Francois Hollande

Recently elected socialist French president François Hollande.

While I’m not sure I always buy whole-hog the amorphous concept of “regulatory uncertainty,” brought on by the administrative state, as a catch-all explanation for everything wrong with the private sector and our nation’s current unemployment crisis, a fascinating Bloomberg Businessweek Global Economics feature from May 2012 looks at French labor policy (emphasis mine):

[France] has 2.4 times as many companies with 49 employees as with 50. What difference does one employee make? Plenty, according to the French labor code. Once a company has at least 50 employees inside France, management must create three worker councils, introduce profit sharing, and submit restructuring plans to the councils if the company decides to fire workers for economic reasons.

French businesspeople often skirt these restraints by creating new companies rather than expanding existing ones.

Hey, Let’s Not Nationalize Facebook

Dislike (Radiant)

There are dumb ideas…and then there are really dumb ideas. And then there are, so to say, Congressional politicians. We’re not quite at that level yet, but it seems like it. I am of course, referring to a rather silly piece in Slate magazine titled “Let’s Nationalize Facebook,” written by one Phillip N. Howard, a professor of communications and information technology from the University of Washington. His reasons for doing so are:

Over the last several years, Facebook has become a public good and an important social resource. But as a company, it is behaving badly, and long term, that may cost it: A spring survey found that almost half of Americans believe that Facebook will eventually fade away. Even the business side has been a bit of a disaster lately, with earnings lower than expected and the news that a significant portion of Facebook profiles are fake. If neither users nor investors can be confident in the company, it’s time we start discussing an idea that might seem crazy: nationalizing Facebook.

Freedom isn’t just economics, it’s a story too

Usually, when we argue for the cause of freedom and liberty, we do so by engaging in arguments using economics. The broken window fallacy, third-party payer problems, supply and demand, etc. They do work, to an extent, and they are good tools. But they aren’t the only tools in the basket.

My good friend Sean Malone, the Director of Video Production* over at the Charles Koch Institute, has put together a new series of videos for the Economic Freedom Project, which tell the stories of small business entrepreneurs who are forced to survive in an environment marred by over regulation, cronyism, corruption, and a far too large business. The first had yours truly as a video assistant, which really meant that I went into the break room to steal the “guest only” Coke Zeros for Sean. But don’t tell anyone.

We have to remember that we’re not fighting for liberty just because it’s more economically efficient, or that it fits some philosophical message. (Well, it does, but…) We’re doing it because there are people out there, people who are legitimately suffering from too much government and not enough freedom. If more Americans see this—hell, if more homo sapiens see this—then maybe they will wisen up and realize that the “1%” or whomever is the target of today’s Two-Minute Hate is not some intangible, inanimate object, but is in fact a real human being, and deserves to be treated as such.

That’s what really matters. And that’s what we need to be telling people.

Timid Mitt: Romney Unable or Unwilling to Fight Back

Mitt Romney

Over the last few weeks, the Obama campaign and their friends in the main stream media have had a field day.  First, going after Romney for having a Swiss bank account and several offshore accounts.  This line of attack, has been followed by a relentless series of attacks over exactly when Mitt Romney left Bain Capital.

Both of these attacks were opportunities for Romney and his campaign team to turn the tables aggressively on Obama and on the media.  At a time when unemployment remains over 8% and with our nation teetering on the verge of fiscal collapse, the Obama/media fascination with the minutiae of Mitt Romney’s background is an example of grotesque political slight of hand.  It is the ultimate distraction from the issues that matter most.

Unfortunately, Mitt the timid and his camaign have - so far - failed miserably at fighting back.

On the issue of the offshore accounts, why didn’t Romney come forward and say “yes, I had accounts in Switzerland and the Cayman Islands, but guess what?  There is absolutely nothing illegal about these accounts and, indeed, these accounts are the product of an overly complex and uncompetetive tax code that Obama and Democrats are hell bent on defending!”

On the issue of when he left Bain, why hasn’t Mitt and his campaign said “who cares!?”  What if Romney was still at Bain after 1999?  Does that suddenly change Obama’s failed record as President?  Does that suddenly balance our budgets?  Does it suddenly create jobs?  Of course not.  Why in God’s name is the Romney campaign taking the bait on these distractions?

If Mitt the timid thinks he can just run out the clock and win this election, he is sorely mistaken.  The Obama campaign has shown how ruthlessly it will distort and distract, and Obama has the giant megaphone of the main stream media as his willing accomplice.

Federal Incompetence Stifles Job

“Were we directed from Washington when to sow, and when to reap, we should soon want bread.” ~ Thomas Jefferson

Each day we see proofs of the wisdom of the Founding Fathers in the creation of a federalist form of government which gave superior authority to a central government within a very limited sphere, and left all other functions to the states, or the people. Far from being the limited government which our Founders envisioned, the federal government today is a monstrous leviathan which is equal parts incompetence and avarice. This is what happens when government attains more power. Government is the only entity legally able to use force to achieve its goals. Government is a monopoly, and therefore does not have to be efficient or innovative on order to retain its “customers.” It is essentially immune from the disastrous consequences of its decisions and actions. It can compel continued allegiance and higher payments.

A timely example of the results of government expansionism is in the continued stagnancy of our economy. In the last days of the Bush presidency, and expanded throughout the Obama presidency, the federal government took steps which would supposedly save the economy from a financial collapse (which itself was the result of government interference in the market). With the passage of the “stimulus” bill, unemployment was not supposed to reach 8% according to the Obama administration, yet it did that and more. Unemployment spiked above 10% AFTER the near-trillion dollar stimulus was passed, and stayed at or above 9% for almost three years, before dropping to above 8%, a point we were not supposed to have reached at all.

Paul Krugman is Delusional

It’s official: the New York Times’ resident Nobel Prize Laureate/Loony is delusional. He wrote on his blog Monday about “how right he was”:

We’re coming up on the second anniversary of my piece “Myths of Austerity“, in which I tried to knock down the simply insane conventional wisdom then gelling among Very Serious People. Intellectually it was, I think I can say without false modesty, a huge win; I (and those of like mind) have been right about everything.

But I had no success in deflecting the terrible wrong turn in policy. Moreover, as far as I can tell none of the people responsible for that wrong turn has paid any price, not even in reputation; they’re still regarded as Very Serious, treated with great deference. And the political tendency behind that terrible economic analysis has at least a 50% chance of triumphing in America.

Oh well.

“Oh well” is right.

His first problem is that he says he has “been right about everything.” When one looks at the stimulus programs that have been enacted since this recession began, and the high unemployment that has persisted, the evidence is blatantly clear: Krugman is an idiot.

His second problem is his statement that “I had no success in deflecting the terrible wrong turn in policy.” Um, lest I am living on a different worldline than Krugman, the man’s main policy prescription has been stimulus, and we’ve had a lot of it:

A Love Letter to Ron Paul Die-Hards and Anarcho-Capitalists

EDIT: I’m not saying that Ron Paul fans are necessarily anarcho-capitalists. They are two camps that need to be addressed equally, and thus share a post. I apologize if the title seems a bit misleading.

I love you guys. Well and truly.

You are truly the only people who can say, with a straight face, that you want to see absolutely no government in the world, or that parents should be able to sell their children, or that law could be perfectly administered through courts that competed for customers like car dealerships. (“You need a court that respects your right for others to pay for your contraception? Come in and get no money down on a brand new 2012 court case!”)

The unbound and unhampered loyalty you have to a Texas congressman who preaches liberty and peace is just simply adorable. You call his son a sellout for not endorsing his father, start riots at state GOP conventions to grab as many delegates for him as possible, and even started a campaign to sue the Republicans for not allowing delegates bound to other candidates to vote for him. Just adorable. You’re like little puppies, yipping and yapping at anyone who gets too close to your candidate, anyone who might might be some big ugly meanie in disguise. It’s cute.

So that’s why, since I’m so in love with you, that I have to take a moment and tell you to stop hurting yourself.

No, really.

You’re starting to make yourself look foolish. Childish, even. Your inability to accept that Ron Paul will not win the nomination is a sign of being a poor loser, and nobody likes a poor loser. Your other inability to accept compromise with others—such as you demonization Paul’s son Rand—means you won’t have any friends. And for some of you, your inability to take what you can get, rather than singing Queen’s “I Want It All” at the top of your lungs every day, makes you look utterly crazy.

The Land of the Fee and Home of the Slave

In the days leading up to the IPO (Initial Public Offering) of Facebook stock as it became a publicly traded company, much of the news surrounding the company was made not by founder Mark Zuckerberg, but by Eduardo Saverin, a young man who became very rich after he invested his life savings in that unknown company running out of a Harvard dorm room. Saverin had announced that he was renouncing his U.S. citizenship, preferring to make his ties with Singapore instead.

In the aftermath of his announcement, it was claimed that he was doing so in order to avoid the heavy tax burden placed on his wealth by the United States. Senator Chuck Schumer (D-NY), a man of whom former Senator Bob Dole once said that “the most dangerous place in Washington is between Charles Schumer and a television camera,” wasted no time in turning this into face time with the press to score political points, joining with fellow Democrat, Senator Bob Casey (D-PA) in announcing their intention to submit the “Ex-PATRIOT” Act.

According to Schumer, this law would “re-impose taxes on expatriates like Saverin even after they flee the United States and take up residence in a foreign country.” Like a modern-day Rasputin, this would enact into law the assumption that politicians have supernatural powers of mind-reading, and would presume any person who renounced U.S. citizenship, while having a net worth greater than $2 million, or an average five-year income tax liability of at least $148,000, had done so for the purpose of tax avoidance. The law, eviscerating the Constitution’s presumption of “innocent until proven guilty” principle, would require the individual to prove to the IRS that they’d not done so for tax avoidance purposes, or risk additional capital gains taxes on any future investment gains.

 


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