California’s proposed billionaire wealth tax is projected to raise billions on paper, but will it actually deliver?
Could it drive wealth and investment elsewhere? Reduce future tax revenues? Affect jobs and business activity?
The full picture goes beyond the projected revenue.
Xavier Becerra, California’s governor-elect, has said he would finish the state’s high-speed rail project “on budget and on time.” He seems to have missed what the current governor said about the project. https://t.co/M2A8HTGMLG
Politicians have good reason to emphasize the visible benefits of their decisions, and the Audi factory and its accompanying jobs will be visible.
A factory provides a location, an audience, and a ribbon to cut. Costs spread among millions of consumers provide few comparable political opportunities. Concentrated benefits and dispersed costs make attractive politics. https://t.co/jmbb3ldS8B
Government agencies, even after losing 3,500 FDA staff, a commissioner, and nearly half of HHS’s divisions, are still bureaucracies that, as economist William Niskanen observed decades ago, seek to maximize influence and scope of authority. https://t.co/72vYzKGLaA
Robert Heilbroner, a distinguished economic historian and reputable man of the Left, offers arguably the best and most succinct definition of socialism: “a centrally planned economy in which the government controls all means of production.”
Although some might quibble at the margins, economists of all stripes would largely agree. So when it comes to defining socialism, economists know exactly what they are talking about. Most prominent politicians, unfortunately, do not.
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In August, the Independent Institute hosted the world premiere of Building Home, bringing together civic and business leaders, policymakers, and community members for an important conversation about homelessness.
We were honored to welcome @MattMahanSJ, hear from an outstanding panel — @drdrew, addiction medicine physician; Steve Adami, Executive Director of The Way Out, @SalvationArmyUS; Scott Ackerson, who helped develop Haven for Hope in San Antonio; and @mattdorsey, member of the San Francisco Board of Supervisors. Adrian Covert of the @BayAreaCouncil also addressed attendees at the VIP reception, highlighting the importance of community and business leadership in this conversation.
Now, we’re looking to take that conversation beyond the premiere.
We’re inviting businesses, universities, nonprofits, and community organizations to partner with us or host a Building Home screening in their communities.
Interested? Let’s work together to bring this important conversation to a wider audience.
Learn more: https://t.co/HWEmLj9i8a
In July, rents in Los Angeles County fell to a four-year low.
Although they remain high compared to much of the nation, with a reported median price of $2,603 per month, the decline offers a glimpse of what can happen when governments liberalize housing restrictions and allow developers to build. https://t.co/kiCXz8ffeW
Trade isn’t complicated. People around the world work to produce things for one another—and protectionism makes that cooperation harder. https://t.co/zKkAHEeXRN
On Nov. 4, @Ivan_Eland and @Doug_Bandow of @CatoInstitute explored reforms to rebalance federal power and protect civil liberties and the rule of law at “Restore the Republic: Make Congress Great Again.”
Thanks to everyone who joined us!
On Tuesday, November 10, join the Independent Institute at historic Fraunces Tavern for New York City at 250: From Liberty to Mamdani.
With the election results now in, New York's political transformation has taken center stage.
The conversation couldn't be more timely.
Space is limited. Reserve your spot today: https://t.co/tRXksekQ4e
On the bluest of blue nights in recent memory, the voters of the bluest of blue states rejected @gabriel_zucman's billionaire tax proposal. Let that set in.
Join the Independent Institute for a timely discussion examining New York’s political transformation, its history, and the implications of Zohran Mamdani’s rise.
The discussion will feature a distinguished panel of experts, including Joe Sweeny, NYC lawyer and political commentator; William Watkins, constitutional lawyer and author; and Michael Douma, author and professor.
Following the discussion, join us for an evening reception with an open bar and hors d'oeuvres at historic Fraunces Tavern, where George Washington delivered his famous farewell address to his officers.
📅 Date: November 10 | 6–9 PM EST
📍 Location: Fraunces Tavern, NYC
🎟️ Tickets: $35
🇺🇸 Proceeds benefit: Victims of Communism Memorial Foundation
Space is limited! RSVP today and join the conversation about the future of New York: https://t.co/GupsciF3fH