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Shut Down the CFPB – Save the $650 Million

from IBD:

Like so many bureaucracies, the Obama-era Consumer Financial Protection Bureau, a creation of the Dodd-Frank financial reform bill, began with the very best of intentions. But it has failed to do its job. Following the resignation of CFPB chief Richard Cordray, it’s a good time to consider shutting down the agency altogether.

CFPB is often mischaracterized as a “consumer watchdog” in the mainstream media. Consumer attack dog is more like it.

Set up to protect consumers from predatory lenders and rogue banks, the CFPB has in fact led to less credit for financially troubled Americans, and is arguably not even legal. And no, that’s not just our opinion.

An October 2016 Supreme Court ruling found CFPB’s structure to be unconstitutional, a violation of the separation of powers in the nation’s supreme law. read more

You Don’t Need to Work to Make a Living

by: Brent Smith at the Common Constitutionalist

No Audio Version

Have you ever wondered why America’s unemployment rate is so low.

Over the years, I’ve gone through the various methods the government uses to calculate the employment, or unemployment rate – the different categories like U-3 vs. U-6 and so on. Knowing the particulars of each, we are effectively able to prove what are crock the published “U3” unemployment rate is and how useless and misleading the most often used U-3 number is..

Within the U3 category, the government differentiates between being unemployed and not working. Well, that’s easy, you may say. Maybe those in the “not working” category are the stay-at-home-Mom types. My apologies to stay-at-home Moms, but you know what I mean.

You may think that but you’d be incorrect. The “not working” category are those who are so discouraged that they just stopped looking. They are not counted as being unemployed. Of course they are, but not according to the government. It’s why the unemployment rate is so low. It’s a bogus, or at best, a misleading number – and purposely misleading.

Logically then, one may ask just how all these millions of people have been surviving for all this time – sometimes years to generations, without employment – without a paycheck?

Well, they may not be employed, but they sure receive a paycheck, of sorts, courtesy of you and me. In fact, in some States, families bring in more money through 126 government “entitlement” programs than they would earn if employed.

I’ve personally heard more than a few times from prospective employees, that, “I can make more money on government benefits than I can working for your company.” It’s called a perverse incentive, and boy is that right. As bad as this sounds, it’s actually worst than most people think.

In the video below, Michael Tanner, Senior Fellow at the Cato Institute, explains just how out-of-control the “entitlement” system in America has become.  read more

WND Exclusive – ALL INCOME IS 1ST THE GOVERNMENT’S

The Republican tax plan has finally made its debut. At first blush it appears pretty good. At its heart the plan is populist, but what can we expect in these times?

As one might expect of populists, it is geared toward the lower income scale, but does have a few cut-outs for the wealthier among us – and is certainly more business-friendly than the status quo.

However, we must remember that all tax legislation begins in the House, so this is just a starting point, and what we see is as good as it will be.

The bill isn’t going to improve from here out. It will only get worse – more watered down, as the Democrats’ long-knives predictably start tearing into it. read more

Neom – Saudi $500 Billion New City

The building site for Neom: a futuristic city where the desert meets the Red Sea, with...
The building site for Neom: a futuristic city where the desert meets the Red Sea, with views of Egypt across the water, and plans for a giant bridge to cross the span(Credit: Discover Neom)

Saudi Arabia is looking toward a post-oil future by sinking some US$500 billion into a massive, ultra-futuristic megacity project it calls Neom (or Neo-Mostaqbal; new future). Saudi Crown Prince Mohhamed bin Salman announced the giant project on Tuesday, a brand new city on the intersection of three countries, where “there is no room for old thinking.” read more

Sainted CBO Doesn’t Understand Economics

from Conservative Review:

Crystal Ball Office (CBO): Big Gov cronyism good for your health

crystal ball reading

ugurhan | Getty Images

We live in a time when politicians refuse to even understand the basic difference between the X and Y chromosomes. It is therefore not hard to understand why up is down and in is out when it comes to health care economics in the eyes of the esteemed Congressional Budget Office.

According to the CBO, the more Congress pays ransom to the insurance cartel, the lower prices will be, and then government will actually save money. Earlier this week, it issued its crystal ball projection on the Murray-Alexander bailout (the “Bipartisan Health Care Stabilization Act of 2017”) and said it would decrease the deficit by $3.8 billion. Less is more and more is less.

Of course, the insurance cartel would never use the morphine that numbs the pain from the price increases to raise prices even more … and demand even more bailouts next year. Bailing out the most failed and expensive national project of all time is now profitable, according to the smart people in D.C. read more

Tax Cuts and Discounts are Really the Same Thing

by: Brent Smith at the Common Constitutionalist

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As the tax debate in Washington heats up, we’re hearing the same tired old refrain of, “The rich don’t deserve nor do they need a tax cut.” It’s an absurdly populist statement. However, this time it’s coming from both the dems and republicans.

In defense of tax cuts for all, the rich included, let me first quote some boring facts and figures. Then I will attempt to inject some business sense into an otherwise senseless argument.

Tax cuts will in fact grow the economy, yet I heard the leftist billionaire Tom Steyer say that since the 1980’s, the top tax rate has been cut from 70% to under 40%. He adds that during that time wages for workers have stagnated. I won’t argue that point here.

I heard him say he got rich on Wall Street, so he knows all about the economy. If this is so, and we’ll assume it is – it would mean he’s lying by omission and knows he is. But he knows most aren’t schooled enough to catch him in the lie.

In fact the economy did grow massively after Reagan’s huge tax cuts. But wages are just a portion of economic growth. And wages, like almost everything else, do not occur in a bubble. Other things affect wages – not just growth, or lack of it.

First, would you rather have a job at slightly lower wages, or no job at all, which occurred during the Carter years? And of course wages often don’t tell the whole story. read more

Trump Should Reconsider Ethanol Mandate

This is honest reporting. Many sites on the right do nothing but promote everything Trump. I as well support the President’s policies, but when he makes a wrong decision, he should be called out. This is one of those times and it’s important to point it out.

from IBD:

This is one campaign promise we wish President Trump would break. But alas, he just told his EPA to give up any thought of cutting back on the federal government’s anti-consumer, anti-environment ethanol mandate. Sad.

The story begins in 2005, when President Bush approved the Renewable Fuel Standard program as part of an energy bill, which required oil refiners to blend in predetermined amounts of “biofuels” into their gasoline, starting at 4 billion gallons in 2006.

A revised version of the RFS, which Bush signed in 2007, expanding the program, requiring ethanol levels to climb steadily to 36 billion gallons by 2022. read more

WND Exclusive – Democrats love taxing us to death — and beyond

President Trump’s new tax proposal is pretty good. It’s not great, in the opinion of this consistent Constitutionalist, but it ain’t bad.

Naturally, the Democrats hate it. Ali Baba Schumer and his gang of thieves are using the same old tired argument, that it’s just tailored toward benefiting the rich and that “working families” will suffer should Trump triumph.

I think the last Democrat who was in favor of a tax cut was President Kennedy some 54 years ago. As much as we conservatives like to crow about the Kennedy tax plan, it wasn’t great. Oh, it sure did cut taxes, but it wasn’t what we think. read more

Like ObamaCare – Bernie’s Medicare-For-All will Cost You

by: the Common Constitutionalist

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Did you hear the good news? The left appears to be giving up on single-payer healthcare – or at least is one leftist.

Okay – not quite. Actually not at all. Socialist front man, and member of the richest 1 percent, Bernie Sanders, who has pushed single-payer for a while now, no longer speaks of it.

Sanders now trumpets Medicare-for-all. It’s the same thing. He just changed the name to something probably focus-group tested that sounds more attractive. Bernie wishes “to provide quality care to all, in a cost effective way.” He states that, “while your taxes may [will] go up to pay for this publicly funded program, that expense will be more than offset by the money you are saving by the elimination of private insurance.”

By saying it’s publicly funded, it sounds like he’s selling it as free healthcare for all – and I’ll guarantee you, this is what his followers are hearing. Well, it’s not free. He never says anything about how much the “free” government system will cost you and me. Anyone currently on Medicare can confirm it is hardly “free.”

First, as Sanders admits, are increased taxes. How much will this be? No one knows. Know one can possibly know. Just be assured that it will be significant. read more

Life is Good for Those Who Work In D.C.

from CNS News:

The three richest counties in the United States with populations of 65,000 or more, when measured by their 2016 median household incomes, were all suburbs of Washington, D.C., according to data released today by the Census Bureau.

Eight of the 20 wealthiest counties with populations of 65,000 or more were also suburbs of Washington, D.C.–as were 10 of the top 25.
Loudoun County, Va., with a median household income of $134,464, was nation’s wealthiest county, according to the Census Bureau.

read more