Let’s start with a simple fact: It’s not economic “stimulus” when someone comes along, takes money from your right pocket and puts some of it back in your left pocket (keeping much of it for “other uses”). That’s sleight-of-hand, not stimulus, which is a reason the government can’t stimulate anything other than more government. That’s...
Toyota Financial Services recently announced that as a result of consolidating customer service centers, the Cedar Rapids facility will close and cut 600 jobs, due in part to the private sector employing 5% fewer people than a year ago. The consolidation of customer service centers is a loss for Iowa and a win for other...
“Hey Florida! Help is Here.” That’s how Vice President Kamala Harris recently put a 21st Century spin on Ronald Reagan’s famous quote, “The nine most terrifying words in the English language are: I’m from the Government, and I’m here to help.” What does this have to do with the Texas budget and House Bill 3548?...
“Stimulus” checks are in the mail to many (but not all) Americans, and the news is awash in stories about the best ways to spend that $1,400, and even speculation about whether we’ll see a “stimmy rally” on Wall Street. But Texans are smart enough to know that no check from the government comes without...
Iowa Gov. Kim Reynolds and the Republican-led legislature have mainly been following fiscal conservative principles of limiting spending and reducing tax rates. Gov. Reynolds even received an “A” grade from Cato Institute’s 2020 Fiscal Policy Report Card on America’s Governors for her fiscal conservatism. As a result of conservative budgeting practices, Iowa’s fiscal house was not only prepared...
The COVID-19 pandemic has changed our routines, but it doesn’t change the laws of economics. Yet it seems government is in the business of doing something when it really should do nothing, such as the recent proposals by President Biden and Congress to spend more and raise the federal minimum wage in the name of...
Words mean things—and that’s just one of the flaws in Pedro L. Gonzalez’s latest piece in Newsweek, titled “The Conservative Case for a $15 Minimum Wage.” There’s nothing conservative about the class envy Gonzalez leans so heavily upon. Nor is there anything conservative about his reliance on the left-leaning, union-friendly Economic Policy Institute to downplay...
Texans are ready to return to work. Due to the COVID-19 pandemic and forced business shutdowns by state and local government mandates, Texas’s unemployment rate in December sits at a staggering 7.2%, compared to 3.5% the previous year. Not only is unemployment high, but many businesses have failed or are on the verge of failing....
It feels like there’s hope on the horizon. As Gov. Abbott said in his recent State of the State speech, “With each passing day of more vaccinations and increased immunity, normalcy is returning to Texas.” The Texas economy is recovering and at long last, some normal activity is returning. We’re not out of the woods...
Are your kids getting the education they need—either in person, or remotely? It might depend on where you live; it should instead be up to you. Schools shut down last spring. Some reopened in the fall, some did not. Others, like those in New York City, are closing again. Some schools are trying to mix...
Texas’s Economic Stabilization Fund (or “rainy day fund”) is a valuable tool for covering unexpected shortfalls in tax receipts, like those during the COVID-19 pandemic, but it should be used sparingly, and budget reductions should be prioritized instead. Key points: Texas ranks high in economic growth and must maintain a balanced budget, but the current...
COVID-19 continues to take a toll in the U.S., with more than 13 million cases and over 260,000 deaths. The rise in cases has led to interventions by state governments. Given that the health threat is real, we should learn from what has worked —and what has not. That means we must work hard on a...