I haven’t gotten around to reading it, but Bob Zimmerman has, and he’s not impressed.
Category Archives: Economics
The NYC Climate Lawsuit
Bill DeBlasio is suing oil companies for creating bad weather. Ross McKitrick points out what are no doubt only a few of the lies and BS in the filing.
California
They’re not “misguided” — in fact, they’re doing exactly what the progressives designed them to do. Higher housing prices means more money in the pockets of Angelenos and San Franciscans when they go to sell, high energy prices have a disproportionate impact on the poor, generous welfare “benefits” mean an endless supply of new Democrats and permanent employment for the public-employee unions who actually run the state.
It’s a perfect racket, and one that will continue unless and until the California Republicans get their act together and begin vigorously contesting what has become a one-party state designed to enrich those at the top, beggar the middle class, and keep those on the bottom in permanent penury.
Not clear to me there’s anything that California Republicans (such as they are) can do about it. It will continue until they run out of other peoples’ money. Though perhaps the new inability to deduct all of the state taxes will give them a campaign issue.
Running Scared
France and Germany are studying reusability in rockets. I found this amusing:
The idea for Callisto did come in part as a response to SpaceX, which has now landed 20 boosters and flown five customers on used rockets, but both Astorg and Dittus describe the project as very different.
“It’s not a copy of what SpaceX is doing,” Dittus said. “In some aspects we are also skeptical [about reusability as] the right path, but we will see what is best and then we can come up with ideas of how we proceed.”
Riiiiiiiight.
Meanwhile, Orbital ATK is taking USAF money to try to resurrect Liberty.
When all you have is a hammer…
Gaps In Exploration
Are they “normal“?
If it’s exploration for exploration’s sake, probably. But if it’s for creation of wealth, I’d expect things to happen faster.
A Way To Solve University Expenses
Forcing students to pay for their “social justice” training.
This is sort of like charging the families of those executed in Iran for the bullets.
Metrics
…and their unintended consequences.
As Glenn says, the solution for this at the VA is to simply give the vets vouchers to seek medical care.
America In Space
Keith Cowing is pessimistic.
I’m not. NASA isn’t able to lead, but America will continue to.
[Update a few minutes later]
Speaking of which…
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Launch now NET Jnuary 15th, with static engine test on Saturday. That will be impressive by itself, even without a lift off. If it’s successful, chances of a successful launch go way up. I suspect the biggest uncertainty is plume interaction between the cores, and that will resolve it.
Limiting State And Local Tax Deductions
Yes, it is a big f**king deal.
We accelerated our property tax payment to get it in this year, before the limit hits next year. This will cost us, but I hope it has the effect of finally reining in the tax-hungry politicians in Sacramento. It might even make it a useful campaign issue to get a few more Republicans into the legislature.
[Wednesday-morning update]
States trying to come up with new schemes to get around the limits.
Anything except actually reducing spending.
The Budget “Reform” Act
Now that they’ve started to tackle taxes, it’s time for the Republicans to fix this as well:
As any student of political behavior might have predicted, both parties have learned to game these systems. Obamacare and the tax bill provide many examples.
Democrats got the CBO to count the revenue generated by Obamacare’s Community Living Assistance Services and Supports, or CLASS, Act taxes, fully aware that program’s postponed and unsustainable costs would never be incurred. Republicans likewise took some $300 billion of savings, suddenly available when CBO revised its clearly mistaken estimates of costs of repealing Obamacare’s individual mandate, to pay for tax cuts it couldn’t otherwise get.
This is not a criticism of CBO, which has remained properly nonpartisan and which was designed to estimate revenue flows, not personal choices — such as how many young people would rather pay small individual mandate penalties rather than expensive Obamacare health insurance premiums.
It’s a criticism of the notion that you can create neutral rules that will guide elected politicians to desired results. Politicians and the voters they represent have policy goals they believe important and they have their own ways — fallible, but subject to criticism and debate — to estimate the likely effects of particular policies.
My observation over the years is that systems intended to be failsafe are sure to fail. Forty years of the Budget Control Act regime and 30 years of the opaque Byrd Rule (which allows some Senate measures to pass with 50 votes while others require 60) have shown that both parties have figured out how to game the rules enough to foil those the intended purposes.
The notion that anyone, let alone the CBO, can with any accuracy predict the effects of changes in tax rates and other incentives over a decade is absurd.