By Andy Blom, TES Washington Editor
Phew, Washington finally got bi-partisan for about 15 minutes and raised the debt ceiling, temporarily. This means that the government won’t go broke, default on its loans, not pay its bills…all the things that would happen to us if we ran out of money. Except we can’t just wave a magic wand (or pass legislation) and print more money. But before you get all cheerful, remember — It’s Your Money! That’s right, every penny the Government spends they get from us. From you. So they’ve decided to loan themselves a whole bunch more of your money, and believe me, they’ll come and get it, one way another. But it’s not all bad news. Free market thinkers and doers are still working hard on your behalf to make things better. Here’s this week’s news…
Is it just a Nationwide Beauty Contest? A new campaign in Michigan wants to eliminate the Electoral College and elect the President through a national popular vote. Works well if you’re in a heavy populated urban area, not so much if you’re from “flyover country”. Should we let New York, Chicago and Los Angeles elect the President? Trent England of Save Our States doesn’t think so and he tells you about the Michigan campaign and what it could mean for you here.
It’s Your Money, Your Children, the Government’s Decision. Michigan again. Parents in Michigan are suing because the state won’t let them get the tax benefits from using their 529 Education Savings Accounts in private schools. Oh, the accounts aren’t completely useless. Michigan will give the benefits if the funds are used to pay tuition in cross boundary state run schools. The Mackinac Center Legal Foundation is on the case here.
Franchising does Much More for Your Community than provide Cheap Hamburgers. Who knew, right? Most of us think of franchising as the way MacDonald’s, Wendy’s and 7-11 get to open in our neighborhood. But the benefits to the community go way beyond a cheap lunch. Think economic growth, job creation, wealth distribution and charitable contributions. Take a quick look at the surprising facts here. They’re brief, because franchise people are busy.
The European Conservative is not just One Man. It’s a Magazine. Online, of course, and very interesting. For a clear eyed look at what they’re up to in the EU, some good, some bad, click on the the latest issue here. There really is something for everyone.
Medicare Money…Now You See It, Now You Don’t. Government is way too tricky in how they spend, manage and account for their money. Sorry, your money. Case in point: Medicare funds. Something they promise is solvent and protected all the while they’re raiding it to pay for some other program they love. It seems Democrats are especially good at this and Joe Biden is a champion…not the Champion of Medicare he claims to be, but a champion of the bait and switch. Saul Anuzis and Jim Martin of 60+ are watching our backs here.
Freedom of the Press, for a Price. This one stinks on a lot of levels. The Biden Administration’s massive budget busting $3.5 trillion infrastructure bill has many surprises, including a very healthy payoff to the media. Many people suspect the media these days in not so objective, but out Founding Fathers codified freedom of the press so it would always be free to report, analyze and criticize Government without Government pressure or influence. So how about a bill that pays newspapers $25,000 to $50,000 a year for each journalist they employ? No Government pressure or influence baked into that, is there? Read the alarming news about this Administration attempt to undermine basic American principles here. I don’t know which is worse. That Government would try to do this (with your money) or that media might accept it.
What to do with All That Money the Government Throws at You. Oklahoma has some OK Ideas. Washington is going crazy trying to pass bills on top of bills to give away your money. The State of Oklahoma is scheduled to be the beneficiary of billions of dollars of Government (and your tax dollar) largesse. But Oklahomans are people with solid heads on their shoulders and the Oklahoma Council of Public Affairs has some good ideas on how to spend those Washington bucks without falling into the trap of ongoing Federal dependency.
An Antitrust Bill We Don’t Trust. If we look beyond any temporary frustration with Big Tech we should look at what it does that we like, and what the Government wants to do to it that we won’t like. Take Sen. Amy Klobuchar’s bill. Please. Take a look here to see why it might not be good to trust Government with antitrust. Need more? NetChoice gives a simple graphic explanation of the before and after effects of the bill.
And in closing…the week’s worst news. Maybe you aren’t planning to inherit anything. Maybe your family doesn’t have a business or a farm. But if you do, the Biden Administration is coming for you big time. They plan to start by doubling the Capital Gains Tax. Then eliminate the Step-up in Basis tax treatment. And then collect the whole thing at death. It is a punishing prospect that will devastate family businesses and farms if a principal passes away. No business, no farm, no inheritance? Never mind. But if you are fortunate enough to potentially inherit, you should take a look at the details here right away. Sorry.
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.