So I was complaining the other day about how Warren Buffett and Bill Gates don’t think were being taxed enough. Peter Foster has the same complaint. Though I’m not sure I’d call Bill Gates a “former capitalist.” It’s not clear to me that he was ever one. Businessmen are not necessarily capitalists (or to be more clear, free marketeers).
Category Archives: Economics
Turn Off The Lights In Cancun
The global warming party is over:
Who now remembers Smoot-Hawley, Quemoy and Matsu, and the Teapot Dome? But these were once issues on which the survival of the known world rested. The only global-warming news of this week was the announcement that the House Select Committee on Global Warming would die with the 111th Congress. Mrs. Pelosi established the committee three years ago to beat the eardrums of one and all, a platform for endless argle-bargle about the causes and effects of climate change. The result was the proposed job-killing national energy tax, but with the Republican sweep, there’s no longer an appetite for killing jobs.
Rep. Edward J. Markey of Massachusetts, the chairman of the doomed committee, organized one final event this week, a splashy daylong exercise in gasbaggery starring the usual suspects assigned to drone on for most of the day about the coming global-warming disasters, the melting of the North Pole and the rising of the seas that would make Denver, Omaha and Kansas City seaside resorts. Wesley Clark was the only former presidential candidate to accept an invitation, and he was a no-show. The star witness of the afternoon session was Robert F. Kennedy Jr., an “environmental attorney” who talked about how “clean energy” is nicer than the other kind. Mr. Markey himself, as bored as everyone else, didn’t bother to return after lunch.
The members of the committee can now retire with their scrapbooks of clippings to recall the happy days of hearings about global warming (some of them before “global warming” became “climate change” and “liberals” became “progressives”), about how clean energy could replace smelly oil wells and provide Democrats with the means to enact sweeping climate-change legislation. Who could have foreseen that the only “sweeping” would be the sweeping out of so many Democrats?
Well, actually, absent massive voter fraud, it was pretty much inevitable.
[Afternoon update]
Some interesting climate-related Wikileaks, with a promise of more to come. I wonder how Assange feels about having exposed these corrupt con artists?
Ethanol’s Policy Priviliges
Heading for history’s dustbin? Let’s hope so. Fortunately, all that we need to end them is for Congress to do nothing. Though it would be nice to get rid of the mandates, too. Let the market decide.
Keynesian Economics Is Wrong
Reality Isn’t Negotiable
…but then, the so-called “reality-based community” has never been all that into reality.
[Update a few minutes later]
Raise your own taxes, Fareed, but leave ours alone.
The only reason I watch This Week on Sunday morning, particularly since Christiane Amanpour took over, is to see George Will, who doesn’t appear in any other venue, as far as I know. Well, we had a treat this past week, when instead of her panel (which is always too short anyway) she devoted most of the show to Warren Buffett and Bill Gates, who tell us that we’re not being taxed enough. Hey, wrote the feds as big a check as you want, guys, pour more of your own money down the rat hole, and get a receipt. But leave the rest of us out of it.
New Course On Space
A new course has been added to the LaunchSpace catalog. Doesn’t look like it’s worth attending, though — the course instructor probably doesn’t know what he’s talking about.
Freezing Federal Pay
It’s a nice gesture, but a drop in the barrel in terms of savings. We need to be much more radical.
The Dead Green Treaty
…stinks up the room in Cancun. Which makes the economy-killing legislation passed by the morons in California (including moron-in-chief Schwarzenegger) even more pointless.
[Update a few minutes later]
An excerpt:
Our genius environmentalists came up with the idea that in order to make the treaty more palatable to US public opinion and therefore to the Senate, the US would assume an open-ended and eternal obligation to pay tens of billions of dollars a year to various developing world governments, however corrupt, incompetent, dictatorial and unfriendly these might be. Iran, Cuba, and North Korea would get money just like Yemen, Syria and Sudan. In exchange, these countries along with India and China would accept restrictions on their carbon output that are significantly less drastic than those to be imposed on the US.
Who could possibly object to a smart plan like this? What US Senator wouldn’t love to defend a vote to force taxpayers to subsidize Iran while giving China permanent business advantages over the US? Surely Glenn Beck and Rush Limbaugh would find nothing to attack here. Getting two thirds of the Senate to ratify a no-brainer like this would be a cakewalk.
This is the fruit of the gigantic brains of the Great Gurus of Green. This is the bright shining idea at the core of the UN process: that US opposition to Kyoto could be overcome by requiring the US to pay tens of billions of dollars in Green Danegeld to the third world every year. And the people who thought of this had Big Degrees from Name Schools! We know, because they keep telling us, that they are smarter than the rest of us and they understand complex systems better than we do. These are the geniuses to whom we are to entrust ever greater control over ever larger swathes of the global economy because, after all, they see so clearly and so far.
The world’s in the very best of hands.
Grow The Pie
Apparently, the maximum revenue from income taxation is 19% of GDP, regardless of tax rate. The implication is that a) this should be the maximum size of government spending as well and b) that we should have rates in place that maximize economic growth. But that doesn’t satisfy the class-envy warfare mentality of the left, including the president.
“Who The Hell Do You Think You Are?”
Talking truth to tyrannical fecklessness among the Eurocrats. It sure looks like the beginning of the end for the European project. Good riddance.
[Update a few minutes later]
The European Parliament is not about freedom.