We have seen the headlines of supply chain problems, of an unprecedented number of ships offshore of the ports of Los Angeles and Long Beach for days waiting to unload cargo because there are not enough trucks and drivers to pick up the cargo and take it to its destination. Many of us have personally experienced the effects of some of these issues, and manufacturers are already telling people to shop early for Christmas because of expected shortages of certain items.
As it turns out, a labor shortage that means trucking companies cannot get enough drivers is only part of the problem. A large contributing factors are laws in California that have gone into effect in the last year or so, that are only now showing up because of the decreased demand last year during covid.
Continue reading “The ‘Rest Of The Story’ On Supply Chain Woes”
In testimony before Congress, the Commissioner of the IRS said that he wants banks to be required to report every transaction, deposit or withdrawal, for any bank account having $600 or more. Senate Democrats say they are making progress on getting the votes to ensure this is included as part of any spending plan.
Once we get past the immediate absurdity of the thought, logic brings us to the same conclusion. Once banks spend the money to report every single transaction of these accounts, hundreds of millions of them each with who knows how many deposits and withdrawals each year, the IRS has to hire people to go through those hundreds of millions of reports on accounts. The cost would be large, even aside from the blatant invasion of privacy for no practical financial reason.
The IRS says that the measure is to make sure people are paying taxes. But let’s get real-if we are trying to increase federal revenue to pay for the largest spending plan in history by tracking every move of someone with $600 in the bank then we are really in bad shape. No, this is not about catching tax cheats, it’s about control.
The current political environment in the United States is highly partisan, and bitterly so. Social media and gerrymandering to make safe Congressional districts for each party, has given rise to increasingly divided political parties, and an environment where politicians on both sides refuse to compromise at all. These days, even the smallest hint of compromise is attacked and it’s all or nothing.
Continue reading “Can We Still Compromise?”
A socialist is someone who believes, in its simplest form, in redistribution of wealth and income from those who have and make the most to those to have and make the least. That belief generally is without considering why people make more or less than other people, and follows the writing of Karl Marx: “From each according to their ability. To each according to their need”, meaning people will work as hard as they can to get rewards (money) and then it will go to those in the most need.
However, socialists and Marxist do not really mean what they say when they talk about wealth and income redistribution. How do we know?
Continue reading “Socialists Don’t Really Believe What They Say”
In his first three months in office, Biden has proposed more spending than any other President in history in the same term of office. That money has to come from somewhere.
Continue reading “Biden’s Economic Plans Have Little To Do With Economic Recovery”
In the midst of a pandemic, as the country recovers from the biggest economic crisis since the Great Depression, in many towns across the country you cannot help but notice the “We’re Hiring” signs. Despite the fact that the economy has not fully opened up retail stores, grocery stores and restaurants are seemingly desperate for help and in some places there have been reports of businesses closing because of the inability to hire enough people. How can that be?
Although the unemployment rate is much better than might be expected, it is higher for young people, low income and those with a high school education or less-the exact labor pool where businesses are struggling to find help.
Continue reading “Businesses Are Finding Labor Shortages, So Biden Administration Proposes More Unemployment Benefits”
Thoughts for a Wednesday on liberal vs. conservative approaches to economic policy and on the minimum wage.
Continue reading “Quick Takes On Economic Policy”
There has been much controversy about an election law recently passed in the state of Georgia. The law’s provisions include such things as a requirement for a photo ID to vote in person, tightening validation provisions around mail-in ballots, and a provision that most of us would not think of but which forbids passing out food and drinks to people standing in line to vote.
Liberal politicians have screamed charges of racism and voter suppression. Corporations such as Delta Airlines have joined in and Rob Manfred, Commissioner of Major League Baseball (MLB) announced that they are moving this year’s All-Star game out of Atlanta because of the outrage. Yesterday, Manfred announced that the game would be held in Denver, presumably because Colorado was much less ‘racist’ than Georgia in how it handled election. Yet, the actual reality is quite interesting, as is the intellectual integrity of Manfred and MLB.
Continue reading “The Intellectual Dishonesty of Rob Manfred and MLB”
President Biden said yesterday that his proposed $2.3 trillion spending bill will create 19 million jobs.
According to the Bureau of Labor Statistics, there are currently 10.1 million people unemployed in the United States.
That is some amazing math!
(And remember, you heard it here first. Somehow the media missed it.)
During the election, there was a good deal of debate about how Joe Biden would govern. Throughout his career, he had been a fairly moderate Democrat. As a Democrat, that meant that he leaned liberal but he also had never been on the left wing of the Party and worked in a bi-partisan way on many issues. Yet, many argued that the Democratic Party had become controlled by the extreme liberal wing, and his choice of Vice President, Kamala Harris, the second most liberal US Senator, seemed to give credence to the notion that Biden would become much more liberal as President than his previous record might indicate.
Biden seemed to go a long way toward answering that question this week.
Continue reading “What Does This Week Tell Us About Biden’s Governing Philosophy?”