Author: Redactor

Categories
political challengers too much government

Somewhere Short of Salvation

When I heard that Mitt Romney had chosen Wisconsin Congressman Paul Ryan to be his vice-presidential running mate, I thought, “Wow. It could have been worse.”

I like Paul Ryan. You know, for a politician.

Rep. Ryan, at least, appears to be serious about our country’s 16 trillion debt and the fact that yearly we’re still credit-carding a trillion more onto that tab. Ryan has crunched the numbers and written a budget blueprint that offers a more-or-less responsible way to restructure in-the-red programs such as Medicare, Medicaid, and Social Security that drive the government’s debt.

The “professional left” will argue that Paul Ryan wants to throw grandma off a cliff by slashing Medicare, but I think the problem is that his budget doesn’t go far enough. Under Ryan’s own optimistic predictions of economic growth, his balanced budget is still a decade away. According to analyses by the Congressional Budget Office and others, the Ryan “Path to Prosperity” won’t bring the federal budget into balance for many decades – 30 to 50 years.

Which, the way Washington works, means never.

And that’s even before the plan goes through Congress, where far too few share Ryan’s hawkishness on budgetary matters.

Paul Ryan is a breath of fresh air compared to mealy-mouthed politicians such as Obama and Biden . . . and Romney. But even if the Romney-Ryan ticket wins, Ryan will only occupy what John Adams called “the most insignificant office that ever the invention of man contrived or his imagination conceived.”

Sounds like we’re still somewhere short of salvation.

This is Common Sense. I’m Paul Jacob.

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Thought

Francis Hutcheson

Wisdom denotes the pursuing of the best ends by the best means.

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too much government

Don’t French-Fry Les Riches

French voters were in a mood to eject the incumbent, often a good idea. But, alas, the president they picked to replace Nicolas Sarkozy is an ardent socialist. And socialism, sanctified or not by centuries-old fealty to notions of French Revolutionary egalité, is always a très mauvaise idée.

President François Hollande has vowed to impose a 75 percent tax on all income over a million euros, or about 1.25 million dollars. Such a steep levy is supposed to be moral because making lots of money is per se morally suspect — at least according to the egalitarianism in which Hollande is steeped.

The tax gouge is also supposed to be practical in that it will supposedly help cure France’s debt crisis. Sure, looting les riches will cover but a smidgen of France’s debt pileup. But because even not-rich Frenchmen are also likely to pay higher taxes to appease the EU, it’s best to pave the way by first flogging the envious not-rich man’s favorite target.

Meanwhile, more sensible measures — like freeing up the French economy and slashing the government’s social welfare programs — don’t seem to rank very high on Hollande’s to-do list.

In response to the danger, many of the wealthiest and most productive Frenchmen are doing the only moral and practical thing. They’re packing their bags, just in case their new leader fulfills his vow. If so, they’ll flee to lower-taxing places like Belgium and Switzerland, where jobseekers will be delighted to have them.

This is Common Sense. I’m Paul Jacob.

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Thought

Vannevar Bush

Mendel’s concept of the laws of genetics was lost to the world for a generation because his publication did not reach the few who were capable of grasping and extending it; and this sort of catastrophe is undoubtedly being repeated all about us, as truly significant attainments become lost in the mass of the inconsequential.

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Thought

Vannevar Bush

The pioneer spirit is still vigorous within this nation. Science offers a largely unexplored hinterland for the pioneer who has the tools for his task.

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video

Video: Ryan’s “Path to Prosperity”

“Washington has not been telling you the truth,” says Rep. Paul Ryan — Mitt Romney’s selection for his running mate:

Consider what he offers, following up with the rest of the video in its second and third installments.

But take caution. Rep. Ryan’s plan is very slow to take effect, if what you are aiming for is balanced budgets. And as David Boaz has argued, it’s a good example of Republican “me-tooism,” of offering Democratic policy at an allegedly discounted price.

Contrary to what we are often told, there’s nothing radical about Ryan’s plan. Indeed, it’s so non-radical, it makes him a perfect fit with Mitt Romney’s presidential bid. Of course, scuttlebutt has it that Romney will put forth his own, distinct plan, no doubt building on Ryan’s — and we will see what that is, whether it strengthens or weakens Ryan’s approach.

Categories
free trade & free markets national politics & policies too much government

Banker Away

Republican candidate for the U.S. Presidency Mitt Romney has received some flak for keeping some of his vast hoard of wealth in foreign accounts. Though I have a few problems with Mr. Romney, this isn’t one of them. Folks with savings and investments should diversify. Anyone with large amounts of money should consider diversifying beyond our borderlines.

And not just for “tax avoidance” reasons, either.

For one thing, as nice and generous as our politicians are, the U.S. isn’t exactly stable and business-friendly. That used to be the U.S. It may not be, any longer.

Take Peter Schiff’s new endeavor. The redoubtable Schiff, an investment expert perhaps best known for having predicted the 2008 mortgage crisis and the severity of the current recession, has started a gold bank, Euro Pacific Bank Ltd., which will back deposits with gold. The actual yellow stuff.

Its most interesting innovation will be its offer of a “gold debit card,” for use worldwide. Peter Wenzel calls this idea “awesome,” but then notes the downside:

U.S. security laws have become so intrusive, burdensome, and expensive to comply with, that it made it difficult for Schiff to offer the services in the U.S. So, Schiff opened his bank offshore, in St. Vincent and the Grenadines. It operates outside the jurisdiction of U.S. security regulations, and does not accept accounts from American citizens or residents.

America’s place in the world is changing. And not for the better.

This is Common Sense. I’m Paul Jacob.

Categories
Thought

Mohandas Karamchand Gandhi

If one has no affection for a person or a system, one should feel free to give the fullest expression to his disaffection so long as he does not contemplate, promote, or incite violence.

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Thought

Francis Hutcheson

The ultimate notion of right is that which tends to the universal good; and when one’s acting in a certain manner has this tendency he has a right thus to act.

Categories
ideological culture

The Left Discriminates

The political “left” dominates a number of institutions, including, most famously, Hollywood entertainment and up-market journalism. But perhaps even more striking is the heavily “liberal-progressive” bent observed in many academic fields, particularly in the humanities and social sciences, far in excess of the leftist percentage in America at large.

And this certainly deserves an explanation.

Could it be the result of bias and discrimination?

It’s long been fun to listen to academics defend their heavily leftist cut of the higher ed pie using arguments that have nothing to do with bias. Why “fun”? Because similar arguments trotted out in other fields receive nothing but scorn from academics.

Now there’s a study showing that social psychologists, at least, self-admit to an anti-conservative bias in grading papers, awarding grant proposals, inviting symposium speakers, and accepting job applicants. And here’s the kicker: “The more liberal the survey respondents identified as being, the more likely they were to say that they would discriminate.”

Those who are already sharpening their ad hominem retorts should note that the study was not conducted by folks on “the right.” Co-author Yoel Inbar described himself to Inside Higher Ed as “‘a pretty doctrinaire liberal,’ who volunteered for the Obama campaign in 2008 and who votes Democrat. His co-author, Joris Lammers of Tilburg, is to Inbar’s left, he said.”

The most interesting aspect of bias uncovered in the study, however, is that interviewed academics estimated that their colleagues were twice as likely as themselves to discriminate on ideological grounds.

The “other guy” is always worse than oneself.

Which is where bias and prejudice begin, perhaps.

This is Common Sense. I’m Paul Jacob.