So-Called Paycheck Fairness Was the Nuttiest Idea at the Democrats’ debate

December 20, 2015

Remember what Margaret Thatcher said; it applies to the Democrats: They would rather everyone were poorer, as long as the gap between rich and poor were narrower. We would rather *everyone* be richer, and the “gap” be damned. The difference is crucial and fundamental.

International Liberty

Normally I’m very happy to work for the Cato Institute, both because it is a principled and effective organization.

But I wondered about my career choices last night because I was stuck with the very unpleasant task of live-tweeting the Democrat presidential debate. Cleaning out septic tanks would have been a more enjoyable way to spend my time.

Of all the crazy things that were discussed (you can see my contemporaneous reactions on my Twitter feed), the Clinton-Sanders-O’Malley support for so-called Paycheck Fairness legislation would be at the top of my list.

Yes, I was irked by the myopic fixation on income inequality, the support for class-warfare taxation, and the reflexive advocacy for more government spending, but messing around with the price system – because of an assertion that women are paid 77 cents for every $1 received by men – is an entirely different level…

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Scholarly Evidence against the Welfare State

September 28, 2015

One of these days, we’re going to come to our economic senses. Soon, I hope.

International Liberty

I repeatedly try to convince people that the welfare state is bad for both taxpayers and poor people.

Sometimes I’ll add some more detailed economic analysis and explain that redistribution programs undermine growth by reducing labor supply (with Obamacare being the latest example).

And I’ve even explained that the welfare state has a negative impact on savings and wealth accumulation (these dramatic charts show Social Security debt in America compared to ever-growing nest eggs in Australia’s private pension system).

But if new research from the European Central Bank (ECB) is any indication, I should be giving more emphasis to this final point.

Culling from the abstract, here’s the key finding from the working paper by Pirmin Fessler and Martin Schürz.

…multilevel cross-country regressions show that the degree of welfare state spending across countries is negatively correlated with household net wealth. These findings suggest that social services provided by…

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At least he is an honest socialist

January 5, 2010

I’ll give Bolivia’s President Evo Morales this: he may be anti-American, a socialist, a racist, and a drug-dealer, but at least he’s honest about why he’s concerned about climate change – he wants your money.

Bolivia’s Morales plans alternative climate conference

Bolivian President says he’s planning an alternative global climate conference for April following the failure of a summit in Copenhagen to produce binding agreements.

Morales says the April 20-22 meeting in Cochabamba will include indigenous peoples, social movements, environmentalists and scientists as well as governments “who want to work with their people.”

He says it will pressure industrialized nations to accept that they have a “climate debt” to poor countries and will work toward an international court on environmental crimes.

The Green Statists and cultists of Anthropogenic Global Warming in rich countries may be concerned about laying the foundations for transnational government and saving the Earth from a nonexistent problem, but guys like Morales, or Venezuela’s Chavez, or Zimbabwe’s Mugabe only care about the cash. They see this as a chance to play on post-modern Western guilt and get their hands on billions to prop up their own shaky economies (which they mismanage into the ground) and pad their Swiss bank accounts.

Granted, the Eco-elites and Green Statists suffered an embarrassing setback with their failure to reach an agreement at Copenhagen, but one has to wonder who will show up at this second-chance conference, at least from among those with any money to hand out. I can’t see the “climate debtors” putting up with a second round of this nonsense so soon after making fools of themselves at the first.

Maybe Evo will at least have free samples of coca paste for them.