What would Thomas Sowell say about these policies?
Instead of asking whether a policy sounds good, Sowell would probably ask a much harder question: What are the actual results, and who ends up paying the price?
Good intentions are easy. Good outcomes are a lot harder.
The Jones Act of 1920 is a masterclass in how protectionism destroys the thing it claims to protect.
Congress passed the Merchant Marine Act to ensure American dominance in domestic shipping. The mechanism: any cargo moving between two U.S. ports must travel on ships that are American-built, American-owned, American-flagged, and crewed by American citizens. Sounds patriotic. The numbers tell a different story.
In 1960, the U.S. merchant fleet carried roughly 25% of American waterborne trade. Today that figure sits below 2%. The Jones Act fleet has shrunk to around 100 oceangoing vessels. South Korea and Japan each operate thousands. You protect an industry by mandating it has no competition, and somehow it still collapses. The irony is almost impressive.
The cost structure the law creates is grotesque. A Jones Act-compliant ship costs three to five times more to build in American shipyards than the same vessel built in South Korea. Operating costs run double. Puerto Rico, entirely dependent on sea freight, pays dramatically inflated prices for basic goods because every container must arrive on a compliant American ship rather than a cheaper foreign carrier that already passes nearby.
After Hurricane Maria devastated Puerto Rico in September 2017, the Trump administration waived the Jones Act for ten days. Then reimposed it, because the domestic shipping lobby spends heavily on Congress.
Protecting producers from competition destroys value for consumers and ultimately the producers themselves. Insulated from competitive pressure, American shipyards never modernized. Sailors never became more productive. The fleet rotted while the lobby cashed checks.
Congress built a wall around American shipping and the industry died inside the wall.
Federal tax receipts keep climbing, and the CBO projects them to climb even higher.
We don't have a revenue problem.
Why would anyone think we need higher taxes?
Fauci’s senior adviser has admitted to defrauding the government.
David Morens pleaded guilty to hiding records related to U.S.-funded research at the Wuhan Institute of Virology during COVID-19. Americans deserve to know why.
https://t.co/0ON0jcFsGZ
This exchange SAYS IT ALL
Rep. Brandon Gill: "Is it true that your business 'Have My Baby in Miami' facilitated the entry of foreign nationals seeking to come to the United States to give birth, and obtain birthright citizenship for their children?"
Dr. Lorentz: "I invoke my 5th Amendment rights."
Birthright citizenship must END
Fed Chair Kevin Warsh and Treasury Secretary Scott Bessent can save the economy by shifting the core missions of both the Fed and the Treasury to achieving a stable dollar. The size of a gallon doesn’t change each day, nor does the number of inches in a foot, nor should the value of a currency. My full piece here: https://t.co/ZlcAUeTdxD
Milton Friedman on abolishing the Federal Reserve:
“I’ve long been in favor of abolishing it. There’s no institution in the US that has such a high public standing and such a poor record of performance... It has done far more harm than good.”
This video is basically a masterclass in economics, free markets, globalization, and why communist central planning is doomed to fail. Enjoy the lesson.
“Los impuestos son un robo a gran escala, porque atentan contra el derecho de propiedad y su finalidad es mantener a una casta de parásitos que viven a costa de los gobernados”.
- Murray Rothbard –
“As a woman I would be advised against travelling to Afghanistan or Pakistan on my own, so why would we let swathes of men from those countries come here?”
@_ConnieShaw is spot on.
We can avoid dangerous countries, but what can we do when our own country becomes dangerous?
“Con la excepción de sólo los 200 años del patrón oro, prácticamente todos los gobiernos de la historia han usado su poder exclusivo de crear dinero para defraudar y saquear al pueblo.”
Friedrich Hayek
I found this map from 1950. Notice how Gaza belonged to Egypt and the West Bank belonged to Jordan, and there was no Palestine.
Jordan occupied the West Bank and Egypt occupied Gaza from 1948 to 1967, and during those years not once did ‘Palestinians’ try to establish an independent Palestinian state.
In fact, they only started calling for a Palestinian state after they joined forces with their Egyptian and Jordanian occupiers and lost the war they started against Israel in 1967, when Israel took over Gaza and the West Bank.
The whole Palestinian narrative is a lie.
Social Security is approaching the crisis point for whoever is the next President of the USA.
The program collects $1.44 trillion.
Social Security spends $1.67 trillion.
The deficits are covered by selling treasury bonds that social security built up over decades.
In 2032 that fund of treasury bonds will be empty. Then Congress and the President have to make a decision. Current law automatically will cut benefits by 22%. So Congress has to decide whether:
1) let the cuts happen
2) raise taxes to cover the cuts in benefits
3) just use the general revenue funds and let the overall budget deficit increase by about $600 billion per year in 2033.