Evidence begs to differ.
Soon after DeVos was nominated, Randi Weingarten, president of the American Federation of Teachers, took to the pages of the New York Daily News to preach doom. She proclaimed DeVos is “a grave threat” to the public schools “that made America great.” She wrote that those schools are “the places where we prepare the nation’s young people…to contribute. They are where we forge a common culture out of America’s rich diversity.”
By Ilya Shapiro
No, my accusation rests on the 44th president’s seeing himself as professionally above the law, ignoring the executive branch’s legal limits and disrespecting constitutional bounds like federalism and the separation of powers.
This approach is widely associated with European-style credit-invoice, value-added taxes (VATs), and Republicans appear poised to bring something similar to our shores.
As part of their “Better Way” tax plan, House Republicans are proposing to change the corporate income tax into a destination-based, cash-flow tax (DBCFT), which in itself is a kind of border-adjustable tax.
At the commencement of the WEF’s annual summit, Xi — the first Chinese head of state to participate in Davos — spoke of the importance of globalization for global economic growth, whereas President Trump’s representative at Davos, Anthony Scaramucci, spoke of America’s centrality as indispensable for globalization.
By Simon Lester
By Ryan Bourne
In a pugnacious passage, he claimed: “Every decision on trade… will be made to benefit American workers and American families. We must protect our borders from the ravages of other countries making our products, stealing our companies, and destroying our jobs. Protection will lead to great prosperity and strength.”
By Doug Bandow
It is hard to imagine how tired she must be. The planet is large. It has about two hundred nations. That means she must be worried about, oh, at least 180 or 190 countries, depending on her definition of “few.” That would keep even the calmest person in a frenetic state.
But Obama’s immigration legacy is a complex one. On the one hand, he is the harshest enforcer of immigration laws in American history, deporting more illegal immigrants than any previous administration. On the other hand, his executive actions have also helped shield from deportation some 750,000 unauthorized immigrants who were brought here as children.
What lessons can we draw from Obama’s mixed legacy on immigration?
The Tug of War on ISIS inside Donald Trump’s Head: Does He Escalate or Avoid What Is Likely to Be a Counterproductive War?
Even so, I think we can discern the broad outlines of an emerging Trump Doctrine. Three key themes, in particular, will shape Trump’s decision-making on foreign policy.
By Ryan Bourne
Just a day later, President Donald Trump’s inaugural address claimed that for the U.S., “protection will lead to great prosperity and strength.” One of his first acts in office was removal of the U.S. from negotiations surrounding the Trans-Pacific Partnership. His team has discussed renegotiating NAFTA and imposing punitive tariffs on China, whilst appointing a triumvirate of protectionists to key positions.
Thursday, January 26, 2017
|Trump Deficit Will Be Huge|
Stunned political analysts are missing the most plausible argument explaining Donald Trump’s unexpected victory. The misreading of the American electorate stems from the political class’ acceptance of mistaken (and increasingly insane) economic dogma that has arisen over the past generation. Based on their flawed understanding of economics, the pundits could simply not understand why the electorate had become totally disillusioned.
According to the ideas favored by economists on Wall Street, in government, and in the Federal Reserve, Americans should be enjoying a marginally good economy. Unemployment is low, home values and the stock markets are high, credit is cheap and plentiful, prices are stable, auto sales are robust, healthcare is available to all, and GDP is growing, albeit at levels that are below optimal.
If the Economy were a car, productivity would be the engine. Heated seats, on-demand 4-wheel drive and light-sensitive tinted windshields, are all very nice. But they mean little if the engine doesn’t turn and the car just sits in the driveway. The latest productivity data from the Commerce Department confirms that our economic engine is sputtering.
If you strip away all the bells and whistles of economic analysis, the simple truth is that the increased living standards that have taken us from the stone age to the digital age happened because we increased our productivity. Better plows, windmills, bulldozers, factories and, more recently, better software, technology, and automation have allowed economies to produce more output with less human effort. This means there are more goods and services for more people to share and workers can work less to acquire those goodies. When productivity stops increasing, no amount of financial gimmickry can compensate.
A general economic principle is that any law or regulation that restricts market entry tends to impose the greatest burden on those who can be described as poor, latecomers, discriminated against and politically weak.
The president of the NAACP’s St. Louis chapter, Adolphus Pruitt, has petitioned a circuit court judge to reject the St. Louis Metropolitan Taxicab Commission’s conspiratorial call to issue a temporary restraining order that would force Uber to shut down. He says the order would negatively impact nearly 2,000 African-Americans who work as Uber partners in black neighborhoods that have long been ignored by taxis and other transportation providers. In a statement, Pruitt said, “The immediate harm of a (temporary restraining order) would strand thousands of African American riders who depend on Uber to travel around a city that has measurable gaps in its transportation system and has failed to serve our neighborhoods for decades.”
President-elect Donald Trump’s threats against American companies looking to relocate in foreign countries have won favorable review from many quarters. Support comes from those alarmed about trade deficits, those who want a “level playing field” and those who call for “free trade but fair trade,” whatever that means.
Some American companies relocate in foreign lands because costs are lower and hence their profits are higher. Lower labor costs are not the only reason companies move to other countries.