Dems May Regret not Voting for Tax Cuts

from IBD:

GOP Tax Cuts Are Turning Out To Be A Disaster … For Democrats

Not long ago, Democrats expected that the GOP tax cuts would be a political disaster for Republicans, just like ObamaCare was for Democrats in 2010. How’s that prediction working out?

Writing in the Atlantic in December, longtime political reporter Ron Brownstein argued that “President Trump and congressional Republicans have just taken the same leap of faith that Democrats did when they passed the Affordable Care Act.”

He went on to note that after Democrats passed ObamaCare in early 2010 — despite strong public opposition — the backlash from voters “helped propel Republicans to the biggest midterm gain in the House for either party since 1938 and gave them a majority in the chamber they still haven’t relinquished.” read more

Tax Cuts Equal More Revenue

Welcome to the wonderful world of REAL economic dynamism. Gee – how much will tax cuts cost us, asked the no-nothing democrats.

from IBD:

Go Figure: Tax Revenues Climbed $18 Billion In First Month Of GOP Tax Cuts

The Congressional Budget Office says that federal revenues in January added up to $362 billion. That’s an increase of $18 billion— or 5.2% — from the year before. As a result, the government ran a surplus of $51 billion that month, which is equal to the previous January.

Wait, weren’t the tax cuts supposed to bankrupt the country to benefit the rich? It almost looks like the tax cuts — which took effect in January — are paying for themselves. read more

Democrats Show who the Real Extremists Are

from IBD:

Democrats Dig Themselves Into A Hole After Trump’s Speech

President Trump’s political opponents complain that he is petulant, extremist and divisive. Then they revealed themselves at the State of the Union — with the entire country watching — to be far more petulant, extremist and divisive than Trump. Touché.

Trump has many faults, but one of his unique abilities is to drive his opponents absolutely bonkers. That was nowhere more evident than Tuesday night, when Trump delivered what was by all estimations a very good speech. A CBS poll found that 75% approved of it, and CNN’s poll found that 70% had a positive reaction.

The resulting contrast between Trump’s speech and the Democrats’ childish antics in the House chamber that night was painful.

At one point, Trump stated the fact that black unemployment is at historic lows. read more

No to Protectionism Mr. President

from IBD:

High Tariffs And Weak Dollar Are No Way To Make America Great Again

As we’ve noted many times, President Trump’s first year was a rousing success when it comes to economic policy. But one new troubling exception has recently emerged: The Trump administration’s advocacy of a weaker dollar and trade protection. It’s a big mistake.

 In recent months, the U.S. dollar has weakened noticeably against other currencies. The Fed’s trade-weighted dollar index, which measures the dollar’s value against all of our trading partners, after adjusting for volume of trade, has fallen just over 8% in the past year, to a three-year low. That’s a sizable decline.

What concerns us is that the pace has picked up since the start of this year, with the dollar falling more than 3% since January 1 as talk of more trade protection for the U.S. economy gathers steam.  More importantly, the Trump administration has all but announced an explicit policy goal of having a weaker dollar. read more

Does Apple Need to Curb Your Child’s Smartphone Use?

from IBD:

No, Apple Is Not Responsible For Your Kids’ Smartphone Addiction

Apple is now coming under fire from two big investors for not doing enough to curb childhood addiction to smartphones. What’s next? Government warnings and a class-action lawsuit against Big Smartphone.

In an “open letter” to Apple, Janus Partners and the California State Teachers’ Retirement System — which combined own roughly $2 billion in Apple stock — scolded Apple for failing to “take steps” to curb overuse of smartphones by children.

The letter goes on at great length citing research into the harmful effects of too much smartphone use — from increased risk of depression and suicide risk to sleep and learning problems. read more

Conservatives Need to Remain Consistent On Unemployment

by: Brent Smith at the Common Constitutionalist

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For a decade or so, we conservatives had been like the town criers. Every time new employment numbers emerged we would cry out that despite what we all see, read and hear from the left wing media, all was not well. Throughout the entirety of the Obama reign, virtually everyone right of center – yes, even those establishment Republicans, would rightly claim that Obama’s unemployment figures were bogus.

And they were. Despite all other dreadful economic indicators, save for the phony Wall Street numbers, the unemployment rate continued to drop throughout Obama’s time. We on the right knew these numbers did not tell the true story, as the government was using the “official” unemployment calculator known as U-3.

This, as many know, does not give an accurate picture of real unemployment in this country. For years we have insisted that the more accurate U-6 data be used, as it takes into account not only short term unemployed, but also long-termed unemployed, discouraged workers who have just given up, and the underemployed, who wish to work full time yet can only find part time employment. This is the number conservatives insisted be reflected during the Obama years.

But then something odd happened after President Trump took office. read more

Now Bitcoin Causes Global Warming?

from IBD:

The green movement has found many things in modern life that cause global warming, but the latest really left us scratching our heads: Trading Bitcoins. At this point it might be easier to ask, is there anything that doesn’t cause global warming?

No, it’s not a joke. Just about anything these days (Hat tip: The Daily Caller) even remotely connected to civilization, human flourishing and comfort is, we’re told, a “cause” of global warming. It’s a crucial element of the Global Warming religion, which has only waxed even as real religion has waned. read more

Net Neutrality Finally on the Chopping Block

from IBD:

Net Neutrality Advocates Are Modern-Day Snake Oil Salesmen

When FCC Chairman Ajit Pai announced plans to repeal the Obama administration’s heavy-handed “net neutrality” regulations, critics acted as if the world were coming to an end. Actual consumers, however, aren’t likely to notice any difference, because the “problem” those rules were supposed to solve has always been wildly exaggerated.

Net neutrality sounds at first blush like a noble goal. Internet service providers shouldn’t, the argument goes, be allowed to favor some traffic over others, either by throttling speeds, charging more or taking any other action that discriminates against bits of data crossing their network.

But to enforce the rules, the Obama administration had to treat ISPs as if they were monopoly phone providers, which let the government not only impose net neutrality requirements, but gave it sweeping authority to regulate everything the ISPs did. read more

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

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