“The right of the citizens to keep and bear arms has justly been considered, as the palladium of the liberties of the republic; since it offers a strong moral check against usurpation and arbitrary power of the rulers; and will generally, even if these are successful in the first instance, enable the people to resist and triumph over them.” –Justice Joseph Story, Commentaries on the Constitution of the United States, 1833
Tag: liberty
From The Patriot Post, Friday Digest, Vol. 09 No. 02:
In alarming conjunction with recent headlines reporting that the global influence of the United States has slipped dramatically due to the dereliction of government regulators largely responsible for triggering the current recession, the 15th annual Index of Economic Freedom published jointly by The Wall Street Journal and The Heritage Foundation reveals the U.S. saw a corresponding slip in its rankings to sixth place. Hong Kong is tops again, followed by Singapore, Australia, Ireland and New Zealand to round out the top five.
Evaluating numerous criteria relating to economic freedom, the study again shows an affirmative correlation between economic freedom and national income. Freer countries enjoy per capita incomes more than 10 times higher than those in “repressed” countries occupying the bottom of the rankings. In a chilling highlight, it was repressed nations that turned to deficit spending, government seizure of land and resources, and government support of favored enterprises, eventually devastating their economies even further with government mismanagement. Not to suggest that our government’s current bailout debacle bears a striking resemblance to government mismanagement that landed many of the repressed countries at the bottom of the rankings, but as Founding Father John Adams once said, “Facts are stubborn things.”
It’s pretty bad when politically repressive places such as Hong Kong and Singapore are ranking higher on the list than the oldest surviving constitutional republic in the world.
Stephen Moore, ‘Atlas Shrugged’: From Fiction to Fact in 52 Years:
For the uninitiated, the moral of the story is simply this: Politicians invariably respond to crises — that in most cases they themselves created — by spawning new government programs, laws and regulations. These, in turn, generate more havoc and poverty, which inspires the politicians to create more programs…and the downward spiral repeats itself until the productive sectors of the economy collapse under the collective weight of taxes and other burdens imposed in the name of fairness, equality and do-goodism.
In the book, these relentless wealth redistributionists and their programs are disparaged as “the looters and their laws.” Every new act of government futility and stupidity carries with it a benevolent-sounding title. These include the “Anti-Greed Act” to redistribute income (sounds like Charlie Rangel’s promises soak-the-rich tax bill) and the “Equalization of Opportunity Act” to prevent people from starting more than one business (to give other people a chance). My personal favorite, the “Anti Dog-Eat-Dog Act,” aims to restrict cut-throat competition between firms and thus slow the wave of business bankruptcies. Why didn’t Hank Paulson think of that?
These acts and edicts sound farcical, yes, but no more so than the actual events in Washington, circa 2008. We already have been served up the $700 billion “Emergency Economic Stabilization Act” and the “Auto Industry Financing and Restructuring Act.” Now that Barack Obama is in town, he will soon sign into law with great urgency the “American Recovery and Reinvestment Plan.” This latest Hail Mary pass will increase the federal budget (which has already expanded by $1.5 trillion in eight years under George Bush) by an additional $1 trillion — in roughly his first 100 days in office.
The current economic strategy is right out of “Atlas Shrugged”: The more incompetent you are in business, the more handouts the politicians will bestow on you. That’s the justification for the $2 trillion of subsidies doled out already to keep afloat distressed insurance companies, banks, Wall Street investment houses, and auto companies — while standing next in line for their share of the booty are real-estate developers, the steel industry, chemical companies, airlines, ethanol producers, construction firms and even catfish farmers. With each successive bailout to “calm the markets,” another trillion of national wealth is subsequently lost. Yet, as “Atlas” grimly foretold, we now treat the incompetent who wreck their companies as victims, while those resourceful business owners who manage to make a profit are portrayed as recipients of illegitimate “windfalls.”
This. Must. STOP.
[Registration may be necessary to read complete article on WSJ.com.]
[Wave of the phin to Stephen for the link, via IM.]
“The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us. Business doesn’t pay taxes, and who better than business to make this message known?
“Only people pay taxes, and people pay as consumers every tax that is assessed against a business. Begin with the food and fiber raised in the farm, to the ore drilled in a mine, to the oil and gas from out of the ground, whatever it may be–through the processing, through the manufacturing, on out to the retailer’s license. If the tax cannot be included in the price of the product, no one along that line can stay in business.”
[Emphasis added. —R]
Editor’s note: Orson Scott Card is a Democrat and a newspaper columnist, and in this opinion piece he takes on both while lamenting the current state of journalism.
This housing crisis didn’t come out of nowhere. It was not a vague emanation of the evil Bush administration.
[…]
If you who produce our local daily paper actually had any principles, you would be pounding this story, because the prosperity of all Americans was put at risk by the foolish, short-sighted, politically selfish, and possibly corrupt actions of leading Democrats, including Obama.
If you who produce our local daily paper had any personal honor, you would find it unbearable to let the American people believe that somehow Republicans were to blame for this crisis.
[…]
Your job, as journalists, is to tell the truth. That’s what you claim you do, when you accept people’s money to buy or subscribe to your paper.
[…]
If you had any personal honor, each reporter and editor would be insisting on telling the truth — even if it hurts the election chances of your favorite candidate.
Because that’s what honorable people do. Honest people tell the truth even when they don’t like the probable consequences. That’s what honesty means. That’s how trust is earned.
Barack Obama is just another politician, and not a very wise one. He has revealed his ignorance and naivete time after time — and you have swept it under the rug, treated it as nothing.
Meanwhile, you have participated in the borking of Sarah Palin, reporting savage attacks on her for the pregnancy of her unmarried daughter — while you ignored the story of John Edwards’s own adultery for many months.
So I ask you now: Do you have any standards at all? Do you even know what honesty means?
Is getting people to vote for Barack Obama so important that you will throw away everything that journalism is supposed to stand for?
Wow. And I didn’t even quote all of the good parts.
An end to employer-based health insurance is exactly what the American healthcare market needs. Far from being a calamity, it would represent a giant step toward ending the current system’s worst distortions: skyrocketing premiums, lack of insurance portability, widespread ignorance of medical prices, and overconsumption of health services.
With more than 90 percent of private healthcare plans in the United States obtained through employers, it might seem unnatural to get health insurance any other way. But what’s unnatural is the link between healthcare and employment. After all, we don’t rely on employers for auto, homeowners, or life insurance. Those policies we buy in an open market, where numerous insurers and agents compete for our business. Health insurance is different only because of an idiosyncrasy in the tax code dating back 60 years – a good example, to quote Milton Friedman, of how one bad government policy leads to another.
[…]
Americans who would never think of using auto insurance to cover tune-ups and oil changes grew accustomed to having their medical insurer pay for yearly physicals, prescriptions, and other routine expenses.
[…]
When patients think someone else is paying most of their healthcare costs, they feel little pressure to learn what those costs actually are – and providers feel little pressure to compete on price. So prices keep rising, which makes insurance more expensive, which makes Americans ever-more worried about losing their insurance – and ever-more dependent on the benefits provided by their employer.
De-linking medical insurance from employment is the key to reforming healthcare in the United States.
[Emphasis added. —R]
When asked what the market would do, J. Pierpont Morgan is supposed to have replied, “It will fluctuate.” And so it has always done. For the time being, capital will be tighter than before, restricting credit–which is not always a bad thing–and businessmen will be reminded (as legislators, state and federal, seem never to learn) that neither bull markets nor recessions last indefinitely.
This is a fundamental reality of capitalism that seems never to penetrate the minds of journalists or politicians: Markets expand, contract a bit, and expand again, revenue streams are not always smooth, and for economic enterprise, the cost of overconfidence can be the same as the price of inertia: swift self-immolation. What appears to be huge, venerable, and financially indestructible today can be gone tomorrow.
[…]
The financial markets are unsteady at the moment, and Wall Street is undergoing elective surgery. But change, not stasis, is the hallmark of the free market […]
James Madison:
“For the same reason that the members of the State legislatures will be unlikely to attach themselves sufficiently to national objects, the members of the federal legislature will be likely to attach themselves too much to local objects.” (Federalist No. 46, 1 February 1788)
General Jack Keane (USA, Ret.), Frederick W. Kagan, and Kimberly Kagan:
Reducing our troop strength solely on the basis of trends in violence also misses the critical point that the mission of American forces in Iraq is shifting rapidly from counterinsurgency to peace enforcement. The counter-insurgency fight that characterized 2007 continues mainly in areas of northern Iraq. The ability of organized enemy groups, either Sunni or Shia, to conduct large-scale military or terrorist operations and to threaten the existence of the Iraqi government is gone for now. No area of Iraq today requires the massive, violent, and dangerous military operations that American and Iraqi forces had to conduct over the last 18 months in order to pacify various places or restore them to government control. Although enemy networks and organizations have survived and are regrouping, they will likely need considerable time to rebuild their capabilities to levels that pose more than a local challenge–and intelligent political, economic, military, and police efforts can prevent them from rebuilding at all.
American troops continue to conduct counterterrorism operations against Al Qaeda in Iraq, which has not given up, and against Iranian-backed Special Groups, which are also reconstituting. U.S. forces support Iraqi forces conducting counterinsurgency operations in the handful of areas where any significant insurgent capability remains. But mostly our troops are enforcing the peace.
In ethnically mixed areas, American troops are seen as impartial arbiters and mediators. In predominantly Shia or Sunni areas, they are seen as guarantors of continued safety, destroying the justification for illegal militias. American brigades also play critical roles in economic reconstruction, not by spending American money but by helping Iraqis spend their own money. American staffs help local Iraqi leaders develop prioritized lists of their needs, budgets to match those priorities, and plans for executing those budgets. American troops support the Provincial Reconstruction Teams that mentor Iraqi provincial leaders and help local communities communicate their needs to the central government. American soldiers provide essential support to Iraqi soldiers and police working hard to develop their ability to function on their own.
Indeed, American combat brigades have become the principal enablers of economic and political development in Iraq. When an American brigade is withdrawn from an area, there is nothing to take its place–all of these functions go unperformed. Clearly, then, the number of brigades needed in Iraq should be tied not to the level of violence but to the roles the Americans perform and the importance of those roles to the further development of Iraq as a stable and peaceful state.
[Emphasis added. –R]
“Sometimes bipartisanship is grounds for celebration, but more often it is cause for tears. Last week, congressional leaders from both parties went into a room to hammer out a plan that would put taxpayers on the hook for $700 billion. But they assert that the investment is essential to the health of the economy. And they insist that if we make this investment, we’ll get all or most of it back.
“This promise would be more believable if the federal government had a long record of using tax dollars responsibly. In fact, it’s the equivalent of the guy who raids his kid’s piggy bank to feed the slots. The most notable impulse of our leaders is spending money the Treasury doesn’t have, piling up bills that future Americans will have to cover.”