Posted by on May 17, 2021 7:30 am
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Categories: Tax & Finance Top Page Links

By Andy Blom, TES Washington Editor

 

By Andy Blom, TES Washington Editor

Okay everybody, take five. Relax. We have become a nation obsessed with a rush to judgment, an immediate overreaction to almost everything. A policeman stops a teenage girl from knifing another teenage girl and a basketball star — a basketball star! — instantly tweets to attack him. Georgia passes sane election reform and Major League Baseball immediately moves the All Star Game to Denver — which has more restrictive voting laws. The President and a Congresswoman both pressure a jury before a decision is made in a murder case. Could everybody just hold on for a little bit? Step back and let some sanity in? And while we’re waiting, take a look at the good work free market thinkers and doers are doing, uncelebrated, on your behalf…

 

Just What Everyone Wants — A Bigger, Badder IRS. President Biden is proposing massive new funding and growth for the Internal Revenue Service. Purportedly going after millionaires and billionaires, the Biden plan will have a gigantic IRS reaching into every part of all our lives, and all our pockets…even monitoring Venmo transactions. Americans for Tax Reform (ATR) has all the awful details here, here, here, and here Even Obama’s IRS Chief has questions.

 

As Corporate Tax Rates Go Down, Corporate Tax Revenue Goes Up. Is lowering corporate taxes to raise revenue seem counterintuitive? Yes, certainly to Treasury Secretary Janet Yellen. Is raising corporate taxes to raise tax revenue counterproductive? Yes, according to the actual facts. Chris Edwards of the Cato Institute has those facts and figures, comparing 22 countries including the U.S. Get educated here.

 

Tired of Tax News? Tell it to the Judge. That’s what’s happening in Washington State. Being the only ‘Blue’ state with no income tax seems to frost the Democrats in the state legislature, so they’re trying to work around the state constitution by taxing capital gains. Are capital gains income? Will the state Supreme Court continue to rule you own your own income or will they change course? Lawsuits are already in play here  says the Washington Policy Center. This one is worth watching.

 

Sure, In-Person Attendance is Good, But Catholic School Students Test Better, too. This has been a difficult year for school children everywhere, but perhaps those who suffered most were the public school students who were denied in-school learning by state governments and recalcitrant teachers and teacher unions. But now Terence P. Jeffrey adds more fuel to the fire at CNS News. It seems even prior to the pandemic lockdown students at government schools did not test as well in reading and math as students at Catholic Schools. The 2019 results showed 4th and 8th grade Catholic School students outperforming their peers in public schools, whether in cities, towns or suburbs. Serious reading here if you have a school age child or if you pay taxes that support public schools (Hint: we all do).

 

ESG: Threat to Shareholder Rights or Threat to Shareholder Rights? ESG – Environmental, Social and Governance Theory – is growing into the four hundred pound gorilla in the corporate boardroom. At heart is the idea that corporations have a duty not just to profit and return to shareholders, but a greater duty to society and the environment. As always, the devil is in the details. To what degree should corporations be held accountable to ESG? Who should determine what those actions should be? Should ESG be regulated by the government? Big, dangerous questions that the Competitive Enterprise Institute has subjected to a thorough detailed study. If you invest, manage, govern or advocate you might want to take a look here. And the SEC may be putting a big government foot into the mix here .

 

Biden’s Broadband Plan — It’s Like Getting Your Internet from the DMV. President Biden’s new multi-trillion dollar infrastructure plan defines everything as infrastructure…but he’s right that broadband and internet actually are. George Landrith and Ximena Barreto say that’s exactly why they shouldn’t be entrusted to the federal government. Far from Big Gov providing 100% of America with100% access, the authors say that private enterprise will do a better, faster, more efficient job…and it’s already underway. The details here  are interesting…and it is your tax money.

 

Climate vs ‘Justice’…Will Biden’s Green Plans Hurt People Of Color? Hold on — you mean the oil and gas industry helps people of color? Well, if secure, high paying jobs that don’t require a college degree are important, yes. Does mandating electric vehicles help the wealthy, not the poor? Mario Lopez, President of the Hispanic Leadership Fund talks truth to power in helping us understand the true winners and losers in going green without considering all the impacts here, and here.

 

I’d Give Twenty Bucks to Fix the Environment: America’s Voters Speak. So just how much are Americans willing to contribute to the Biden Administration’s plans to fix climate change, mandate electric vehicles and eliminate oil and gas? $20. Sure, improving the environment is good, maybe, but don’t tell us what we can drive and don’t make our energy costs go sky high. Also no? Carbon taxes, raising taxes on energy and banning the internal combustion engine. That’s the message here from a survey from the American Energy Alliance.  See the details and share them with a politician.

 

Pay Me More to Stay Home, I’ll Stay Home. I’m Not Stupid, You’re Stupid. When the pandemic raged and businesses were locked down, paying additional federal benefits for unemployment made sense. Now America’s economy is trying to roar back but the government is still paying federal unemployment bonuses that are more than workers make by going back to work. Businesses are desperate for workers and yet…and yet…for some unfathomable reason the D’s in Washington continue to pay people to stay home, and talk of extending the additional benefits even further into the future. David Sherfinsky takes a look at the idiocy in The Washington Times  here .

 

Except in Montana…Where they have already come to their senses here

 

The Battle for America — FaceBook vs Free Speech. FaceBook has decided to continue to ban a former United States President (they give full reign to the President of Iran). At issue here is not whether you support or oppose Donald Trump. At issue is the power of high tech companies to control public discourse. FaceBook’s continuing exercise of power throws new light on Section 230. The Heritage Foundation’s President Kay C. James explains here. 

 


Andresen Blom is a Washington based policy and political analyst and author who has been published in The Wall Street Journal, The Hill, and Politico.