Category: national politics & policies

Obscene Amounts

George Clooney, Campaign finance, money, big money, election, Hillary Clinton

Actor George Clooney, star of the current Coen brothers picture, Hail Caesar!, is a major fundraiser for Hillary Clinton. When asked on NBC’s Meet the Press if the $353,000 per couple dinner he organized last Friday constituted an “obscene amount of money,” he answered, simply, “yes.”

Clooney went on to explain, “It’s ridiculous that we should have this amount of money in politics.”

He’s an advocate for campaign finance reform. He is, specifically, “against” Citizens United, though he doesn’t know that it isn’t a law but a Supreme Court case that overturned previously passed legislation that regulated what people and corporations could do to support or oppose (or mention) candidates in elections. The government, authorized by the campaign finance legislation, had suppressed a movie.

Interestingly, that movie was a polemical documentary against . . . Hillary Clinton.

Campaign finance regulation has been shown to help incumbents. Not unexpectedly, since the regulations are written by sitting legislators against their competitors.

But “getting money out of politics” would advantage other groups, too. For example, one consequence of limiting political donations would be to nudge challengers to (a) be rich and mostly self-funding (like Trump is said to be), and (b) be more demagogic, leveraging the “free” publicity from major media.

More demagogues aren’t needed.

But then, the whole issue is demagogic, appealing to the knee-jerk reaction of everyday people who are, indeed, often nonplused by how others spend their money.

As for Clooney, he’d like not to have to spend money for his candidate.

We’d all like the important things in life to just happen. But it turns out we have to work for what we want.

This is Common Sense. I’m Paul Jacob.

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Tags campaign finance reform, campaign finance regulation, George Clooney, Hillary Clinton

Accountability general freedom government transparency moral hazard national politics & policies political challengers responsibility

Big-Dollar Impact

campaign finance reform, contributions, Hillary Clinton, Bernie Sanders, corruption

Last Saturday, The Washington Post’s top-of-the-front-page headline blared, “50 donors with outside impact.”

If that doesn’t curdle your blood, readers were further warned of a new “Gilded Age.” Yes, in concentrated fundraising the Post heard “echoes of the end of the 19th century, when wealthy interests spent millions to help put former Ohio governor William McKinley in the White House.”

McKinley. The horror. The echoes.

Hopefully, self-immolations can be kept to a bare minimum as Americans discover the report’s main (only) thrust: 41 percent of $607 million contributed to 2,300 super PACs this election cycle has come from just 50 donors . . . at least, if you also aggregate gifts from the relatives of these 50 folks and their business interests as well.

Isn’t that terrifying? Destructive of democracy? Are our elections simply being bought by the billionaires?

No. No. And no.

Any common sense analysis of this year’s presidential contests, both Republican and Democrat, must acknowledge that big money did not trump. Pun intended. Sen. Bernie Sanders is now outraising Hillary Clinton with millions of small donations — not “millionaires and billionaires.” Jeb Bush’s massive financial warchest made no discernible difference. Even the Post concedes “the mixed impact that big-money groups have had on the presidential contest so far.”

Mixed? Name a single state where “big spending” determined the outcome.

Ideas matter. And securing the resources to advance and advertise ideas obviously matters, too. Same goes for candidates — and their ideas.

More money, more campaign spending, means more ideas and candidacies can reach the political marketplace. That’s where voters, not big donors, do the deciding.

This is Common Sense. I’m Paul Jacob.

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Tags 2016 Presidential race, campaign finance reform, democracy, Presidential campaign 2016, SuperPACs

Accountability folly government transparency ideological culture moral hazard national politics & policies

Money Means Nothing to Her

Post author By CS Admin
Post date April 18, 2016
2 Comments on Money Means Nothing to Her

Hillary Clinton, Bernie Sanders, campaign finance reform, big money, illustration, angel, Saint Hillary

Campaign finance reform is surely dead . . . if Hillary Clinton is elected president.

Which would be good.

Not Clinton being elected, mind you. What would be good is the death of so-called campaign finance reform — the kind supported by Democrats, including Sen. Bernie Sanders and Hillary Clinton. They insist on a constitutional amendment to partially repeal the First Amendment’s freedom of speech protection and give Congress awesome new powers to regulate their own and their opponents’ campaigns.

But wait — if Mrs. Clinton supports campaign finance reform, why would her election kill this seriously bad proposal?

Well, Hillary Clinton made it abundantly clear at last week’s Democratic presidential debate, as I explained this weekend at Townhall: large campaign contributions do not influence her in any way. Even a fat $15 million from Wall Street interests to her super PAC — or $225,000 a pop speeches paid by Goldman Sachs and their ilk — registers no corrupting effect whatsoever.

And those millions deposited in Clinton Foundation accounts from foreign governments?

They couldn’t possibly sway the steady former Secretary of State. Not even the smallest smidgen.

Just like there has never been corruption at the IRS.

Don’t believe Hillary? Then trust President Obama, who also gobbled up major Wall Street funding when he ran in 2008 and 2012. But again, according to her, “President Obama was not at all influenced when he made the decision to pass and sign Dodd-Frank, the toughest regulations on Wall Street in many a year.”

Not. At. All.

So the solution to government corruption is simply to elect trustworthy, incorruptible candidates . . . like Hillary Clinton.

Well, call her half right.

This is Common Sense. I’m Paul Jacob.

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Tags 2016 Presidential race, Bernie Sanders, campaign finance reform, Hillary Clinton, Presidential campaign 2016

folly general freedom national politics & policies tax policy too much government

Procrastinators’ Weekend

Usually, April 15 is the deadline date, in these United States, to file taxes or apply for an extension. This year it is April 18.

Why? Many of us think of the Fifteenth of April as Tax Day. It seems strange and arbitrary when it is jiggered with. And kind of annoying.

But a postponement of taxes could be a postponement we might all appreciate as a tiny (ever so slight) reprieve.

So, again, why this year’s three-day extra leeway?

First off, it is regularly postponed when the day falls on a Saturday or Sunday.

Could it be that the “Nothing Gets Done on Friday” Rule has been acknowledged by the fine folks at the Internal Revenue Service?

No.

People in Maine and Massachusetts celebrate Patriots Day on April 18, so their tax day is set another day later, April 19.

Which begs the question. Why the 18th in the first place?

Well, because of Emancipation Day, usually celebrated in Washington, DC, on April 16.

Because the 16th settles on a Saturday this year, and because the day is a traditional day off for federal workers, the holiday shifts a day in advance, to this Friday, the 15th. So, Emancipation Day — commemorating the signing of the Emancipation Act by President Abraham Lincoln — trumps Tax Filing Day.

Apt, since it might seem cruel to Americans to have Tax Day, marking the subservience of a whole population to its government, fall on something called Emancipation Day.

After all, consider: holding them on the same day? Hmmm. Might get people thinking.

Bigwigs in DC don’t want that.

This is Common Sense. I’m Paul Jacob.

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Tags Fed Up With Taxes, slavery, tax, Tax Day

folly general freedom ideological culture nannyism national politics & policies too much government

The Hypocrisy Gap

wage gap, pay gap, sexism, Equal Pay Day, illustration

You may have missed it. I wasn’t so lucky. This past Tuesday was “Equal Pay Day.”

“[T]he typical woman who works full-time earns 79-cents for every dollar that a typical man makes,” President Barack Obama said, repeating what we have already been told ad nauseum about the “wage gap” between men and women.

The “detailed calculation” used to determine this “gender wage gap”?

“Experts” simply added up all the money earned by all the men and all the women (subcategoried) and then divided by the number of men and women, respectively. No accounting for

the actual jobs performed,
hours worked,
education,
risk,
work history

. . . or any other factor.

Using this statistic make sense if all people — brain surgeons and taxi drivers alike, having worked every day for the last 40 years or re-entering the workforce after decades away — should earn the exact same amount.

Communism.

It is already illegal to pay a woman less than a man for the same work. Yet, on the WhiteHouse.gov page entitled, “This Is Why Today is Equal Pay Day,” the prez says “we must rid our society of the injustice that is pay discrimination.” The website insists that, Obama “has made equal pay a top priority.”

Then, why does a pay gap exist between the men and women working for Mr. Obama? According to the Washington Post, “The White House has not narrowed the gap between the average pay of male and female employees since President Obama’s first year in office . . .”

The good news? Equal Pay Day is over.

This is Common Sense. I’m Paul Jacob.

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Tags Equal Pay Day, equal protection, gender pay gap, sex equality, wages

folly free trade & free markets ideological culture moral hazard national politics & policies

Cranks for President

Donald Trump, Bernie Sanders, cranks, nuts, populists, illustration

Some of us who think of ourselves as populists — or just ordinary people, hence “outsiders” — are having a hard time this political season. The two most talked-about outsider candidates, billionaire Donald Trump and socialist Bernie Sanders, make for strange populists.

A billionaire as a “man of the people”? Not very plausible. It is his lack of a self-censor, his free-wheeling, stream-of-conscious grade-school-level discourse, that impresses many folks. Definitely not scripted.

A socialist as populist? Socialism, long associated with elitists, would put the State into every area of everyday life. Most folks with horse sense resist that.

But Trump and Sanders do have something in common. They rely upon common misconceptions about everyday market life. They both fan the flames of conspiracy theories about prices.

When the price of fuel was spiking a few years ago, Bernie Sanders warned us: “Forget what you may have read about the laws of supply and demand. Oil and gas prices have almost nothing to do with economic fundamentals.” It’s all greed, you see: arbitrary power.

But, as Daniel Bier reminds us at The Freeman, believing that businesses are superpowers out to screw us with ever-rising prices, unhampered by supply and demand, is not just socialist silliness, it’s Billionaire Trump silliness, too — four years ago, the developer not only trumpeted the idea that we simply threaten OPEC for lower prices, but suggested we actually seize foreign oil fields.

This is not common sense. It’s crankism.

It’s the kind of thing folks say when they’re drunk.

Maybe on power.

This is Common Sense. I’m Paul Jacob.

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Tags 2016 Presidential race, Bernie Sanders, cranks, Donald Trump, populism, Presidential campaign 2016

free trade & free markets general freedom ideological culture individual achievement media and media people national politics & policies

Parker and the Pope

Kathleen Parker, Pope Francis, Bernie Sanders, economic fairness

Kathleen Parker is far from my favorite columnist, but her Sunday column comparing Pope Francis and presidential aspirant Sen. Bernie Sanders regarding their shared message on economic fairness and equality of outcomes was well worth the effort.

She treats the men differently. She gives Pope Francis a pass because, as a religious leader, he “wants to raise consciousness about our obligation to the less fortunate,” while bashing Sanders, the politician, who “wants to restructure America’s economic institutions to ensure that money trickles down — mandatorily rather than charitably.”

“Let’s face it, most of us work hard . . . for a paycheck.” So Parker pointedly asks, “As the tax man chisels away at such monetary rewards, where goes the incentive to work hard?”

How persuasive — encouraging actual, real-world achievement — would a Sanders Four Year Plan be?

Addressing the Pope’s harsh words for individualism, Parker argues, “The ‘rampant individualism’ that Francis condemns is precisely what has driven American ingenuity, entrepreneurship and a level of prosperity unmatched in human history.”

Precisely.

In other words, maybe — just maybe — we did build it. Through our own sweat and toil. Individualism is decidedly not big government. And it is not public-private crony capitalism, either.

So, considering that it was America’s laissez–faire-ism that created such great wealth and prosperity, which presidential candidates are promising a return to more robust and vivacious individualism?

Not the ones promising everything. Nor the one promising the “best deal.”

The job of the next heroic leader will be to shovel whole layers of intrusive government out of our way.

Parker seems on board, boasting, “This is common sense.”

Hey, wait a second, Kathleen, that is my line. I’m Paul Jacob.

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Tags Bernie Sanders, equality, fairness, individualism, Kathleen Parker, Pope Francis

folly free trade & free markets moral hazard nannyism national politics & policies responsibility

Auto Destruct

car, automobile, auto, loan, bubble, illustration

Just when you thought it safe to go back into the loan market. . . .

Yes, you guessed it: a bubble may be about to pop.

There are actually several, but here’s one you might not expect: the automobile loan market.

Though less regulated and tampered with than the housing market, auto loans aren’t immune to “moral hazard” and other government-induced dangers. The Fed’s low interest rates are almost certainly stimulating the new car market. “Subprime” car loans are way up and so are delinquencies. Do the bankers making these decreasingly solvent loans expect a bailout?

As Eric Peters notes at his immensely fascinating automobile website, the average car loan is now $32,000, “a record high.” And then there’s the “ever-increasing duration of new cars loans. They are now on average six years long — and seven year loans are becoming pretty common.”

Why? “In order to spread out payments (now averaging almost $500 a month) that have become simply too much to manage for most people.”

But then of course car prices are rising. And not just because of simple inflation. It’s the result of government regulations, mandates, and . . . general craziness. Many buyers now finance used car purchases, too, as Mr. Peters explains. That used to be fairly uncommon. The used-car market has been unduly affected by government insanity as well. Remember Cash for Clunkers? Politicians boasted about their managed destruction of millions of used autos.

What they really achieved was a tighter-than-ever supply of usable older cars.

Cruising toward the auto-destruct of the auto-loan markets.

This is Common Sense. I’m Paul Jacob.

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Tags bubble, housing bubble, loans, moral hazard

folly general freedom ideological culture nannyism national politics & policies Popular

Extremist Against Charity

Bernie Sanders, charity, welfare, government, against charity

Vermont’s favorite son, Senator Bernie Sanders, has a long history of saying strange things, comments that cast a shadow on his current spin that the socialism he favors is a “democratic” one.

He really is (or has been) quite extreme, extremist.

How extreme? He is against charity. You know, private aid provided to alleviate private suffering.

Steve Hayward at PowerLine has unearthed a New York Times piece from way back in Bernie’s mayoral days, about something he said addressing a United Way crowd:

“I don’t believe in charities,” said Mayor Sanders, bringing a shocked silence to a packed hotel banquet room. The Mayor, who is a Socialist, went on to question the “fundamental concepts on which charities are based” and contended that government, rather than charity organizations, should take over responsibility for social programs.

How telling is that?

What many of us have long suspected about anyone calling himself a socialist is that, in his heart of hearts, he really is against any degree of freedom.

The free society alternative, on the other hand, is the common sense policy: we all do the good that makes sense to us, each act or operation judged by our differing metrics, investing our time and money as we see fit.

This allows for innovation and speedy adaptation to changing needs.

Bernie, on the other hand, figures everything has to be centrally organized and taxpayer-funded. That’s not merely a good definition of socialism, it’s creeping totalitarianism . . . and not the least bit charitable.

This is Common Sense. I’m Paul Jacob.

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Photo credit: Marco at Flickr

Tags 2016 Presidential race, Bernie Sanders, charity, Presidential campaign 2016

Accountability crime and punishment moral hazard national politics & policies property rights too much government U.S. Constitution

Return to Robbery

civil asset forfeiture, asset, forfeiture, police, abuse, stealing, theft, property, Common Sense

Last week, the crooks in Washington proved themselves nice enough to let us know that their rip-off machine is back in action. The Obama Justice Department announced the resumption of the “equitable sharing” program, whereby the Feds sing Kumbaya with state and local police while sharing the loot they snatch from innocent folks through “civil asset forfeiture.”

Yes, there again is that strange three-word, legalistic, police-pocketing term: civil asset forfeiture.

Free country? Not so long as local police and federal government agencies seize people’s stuff without ever charging or convicting those people of a crime. Simply by claiming suspicion . . . about their stuff.

To get their money or property back, the victims must hire an attorney and sue the government. Guilty until proven innocent. Only those raking in the ill-gotten gains are shameless enough to defend this completely un-American practice.

Which more than doubled in use during President Obama’s first five years in office, according to The Washington Post. Today, police and various government agents actually take more value from innocent Americans through civil asset forfeiture than do burglars through burglary.

“As President Obama counts down the days of his last year in office,” the Cato Institute’s Adam Bates wrote back in January, “one positive step he could take for his legacy would be to halt the federal government’s use of civil asset forfeiture and make the suspension of the equitable sharing program permanent.”

Yet, despite Mr. Obama’s talk about criminal justice reform, and despite his ability to bring justice with a stroke of his pen (and actually within his constitutional authority), last week the Feds instead went back to business as usual, ripping people off.

This is Common Sense. I’m Paul Jacob.

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Tags asset forfeiture, civil asset forfeiture, corruption, crime, law, police