Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Subsidies

What’s in the GOP Tax Bill?

This article appeared online at TheNewAmerican.com on Monday, November 6, 2017:

The red "GOP" logo used by the party...

The GOP tax reform bill presented last Thursday attempts to be “revenue neutral” within 10 years. By giving most of the cuts to corporate taxpayers, there’s precious little left for the middle class to enjoy. The problem is not only the mathematics — trying to match the “give” with the “take” — but the politics: Democrats will work to scuttle any attempt to relieve fiscal pressure on entrepreneurs (i.e., capitalists) who are largely carrying the burden of supporting the government. Absent any attempt to cut spending — the tax bill’s 429 pages offer little help with that — what’s left, as has been said, is simply moving the chairs around on the deck of the Titanic.

First,

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Frustrated Trump Attacks “ObamaCare Nightmare” via Executive Order

This article appeared online at TheNewAmerican.com on Thursday, October 12, 2017:

Increasingly frustrated over Congress’ inability or unwillingness to dismantle ObamaCare, President Trump tweeted earlier this week, “Since Congress can’t get its act together on HealthCare, I will be using the power of the pen to give great HealthCare to many people — FAST”; and now he has.

Of course the president cannot “give” anything to someone that hasn’t been taken from someone else, but other than that, the president is heading in the right direction. Leaks concerning his executive order, which he signed on Thursday, were confirmed: His order points to less government intervention and more individual freedom.

Calling the present Affordable Care Act an “Obamacare Nightmare,” Trump said his alternative is better:

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Unwinding ObamaCare

This article was published by The McAlvany Intelligence Advisor on Friday, October 13, 2017:

Those in the freedom fight know how to get rid of unnecessary, unconstitutional programs: starve them and/or let the free market compete against them. Either way, they’re done for. President Trump’s Executive Order issued on Thursday does both.

That’s why his order was so much more than just allowing the free market to operate in providing healthcare coverages. It set a pattern for further rescissions and reductions of other unnecessary and anti-freedom government programs. What President Trump said was music to the ears of those committed to free market principles and who have been fighting for years to see a day like Thursday arrive and hear a president say the following:

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Why Can’t ObamaCare be Repealed?

This article was published by The McAlvany Intelligence Advisor on Monday, July 31, 2017:

For more than six years Republicans have promised that, given the chance, they would repeal the odious, expensive, and unconstitutional healthcare takeover called ObamaCare. Seven times they have voted to repeal it, knowing that then-President Obama, its primary promulgator and author, would veto it.

But voters believed them and when Trump beat Democrat Hillary Clinton in November, it was going to be a shoo-in: full and total repeal at the top of the list. At least that’s what Rep. Mo Brooks, a Republican from Alabama, thought. So he prepared a bill: simple, straightforward, two sentences long:

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Trump Threatens to Cut Off Insurance Company Subsidies After ObamaCare Repeal Vote Fails

This article appeared online at TheNewAmerican.com on Monday, July 31, 2017:  

Sounding rather testy that the Senate didn’t give him what he wanted on Thursday, President Trump tweeted on Saturday morning that he would not only punish senators and their staffs but cut off the government funding of subsidies — estimated to be $8 billion — to hungry insurance companies. He tweeted: “After seven years of ‘talking’ Repeal & Replace, the people of our great country are still being forced to live with imploding ObamaCare!” He then tweeted the not-so-subtle threat:

If a new HealthCare bill is not approved quickly, BAILOUTS for Insurance Companies and BAILOUTS for Members of Congress will end very soon!

He added verbal insult to the potential financial injury:

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Food Stamp Dependency Dropping

This article was published by The McAlvany Intelligence Advisor on Monday, July 24, 2017:

English: Logo of the .

In its report released last week the USDA reported that SNAP – the Supplemental Nutrition Assistance Program, the old food stamp program – is shrinking, a little. In 2016, 44 million Americans and immigrants (legal and illegal) took advantage of taxpayers’ largess, costing them $71 billion. In 2010, there were 47 million receiving SNAP benefits costing taxpayers closer to $80 billion.

The program, which began in 1969, has virtually exploded, from just 2.9 million beneficiaries that year (costing taxpayers a paltry $250 million) to a peak of 47.6 million in 2013, which cost taxpayers $79.9 billion.

Part of the shrinkage is due to

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Trump, Mexico Settle Sugar Dispute Just in Time for NAFTA Renegotiations

This article appeared online at TheNewAmerican.com on Wednesday, June 7, 2017: 

The sugar settlement between the United States and Mexico, announced on Tuesday by U.S. Commerce Secretary Wilbur Ross, sets the stage for the NAFTA “renegotiation” scheduled to begin in August. And the settlement is going to cost Americans more to satisfy their sweet tooths.

At bottom, it’s all about protecting an inefficient American industry from foreign competition. Sugar is an enormous industry, and economic and political interests want to keep protections in place in order to save it from foreign competition. On one side is Big Sugar:

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Trump Administration Tips Its Hand, Oks Third Greek Bailout

This article appeared online at TheNewAmerican.com on Monday, April 17, 2017:

It took EURACTIV, the online source that focuses on European policymaking, to report that the Trump administration has signaled that, previous protestations to the contrary, it won’t object to a third Greek bailout. The anonymous Trump administration tipster told its reporters: “We’re looking for the Europeans to help Greece to resolve its economic problems by the Fund [the International Monetary Fund], despite the criticism of many Republicans regarding the two previous bailout programs in 2010 and 2012.”

This anonymous tip kicks to the curb protestations voiced by Trump’s Secretary of the Treasury Steven Mnuchin in February that

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How Trump Can Accelerate the Failure of ObamaCare

This article appeared online at TheNewAmerican.com on Monday, March 27, 2017:

The seal of the United States Department of He...

With the withdrawal of a House bill to repeal and replace ObamaCare, Market Watch explored the options the Trump administration has to hasten the collapse of the ACA. ThinkProgress has reported that the process has already started.

House Speaker Paul Ryan, in announcing the withdrawal of the bill on Thursday,  said that ObamaCare would remain in place “for the foreseeable future.” He didn’t define that future.

The government healthcare plan is already fraying around its edges. Premiums are rising far beyond original estimates, partly due to the withdrawal of major health insurers UnitedHealth Group, Humana, and Aetna from offering coverages. And those remaining in the market have only until June 21 to submit their bids for offering coverages starting in November. But without certainty, a stable market and a broader pool made up more of healthy customers than those who are sick, those bids are almost certain to push premiums even higher.

Trump’s head of the Department of Health and Human Services (HHS) Tom Price, an opponent of the ACA, has already ordered the ending of the promotion of ObamaCare, which has caused a drop-off of enrollment of 400,000 compared to last year.

In addition,

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ObamaCare is Imploding All by Itself

This article was published by The McAlvany Intelligence Advisor on Monday, March 27, 2017:

The Physician

The best person to ask about ObamaCare is not the patient, but the doctor. He’s the one carrying the burden: trying to help his patients with one hand while trying to manage the requirements of the state with the other. One who knows is Jeffery Barke, M.D., a 54-year-old family practice physician in Newport Beach, California. He not only predicted the collapse of ObamaCare (ACA) but wrote that it was planned that way:

As ObamaCare’s troubles mount, I’ve heard my patients and my peers in healthcare ask: How could the law’s authors not have seen this coming?

 

For my part, I think a different question needs to be asked: What if they did? What if ObamaCare was purposely designed to fail?

 

Every day, it seems like there are a dozen new headlines about the crisis facing ObamaCare. Premiums are rising faster than ever. Meanwhile, health insurance companies are abandoning the law’s exchanges left and right, unable to compete in the top-down, regulation-driven environment created by the law. Less than three years into its implementation, the law has never looked so precarious.

He saw firsthand that ObamaCare never did what it was supposed to do:

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Heritage Foundation Blames Obama Admin. for America’s Economic Decline

This article appeared online at TheNewAmerican.com on Wednesday, February 15, 2017:

The Heritage Foundation minced no words in commenting on its latest Index of Economic Freedom: America’s continuing decline is all Obama’s fault:

America’s standing in the index [now in 17th place, the lowest in history] has dwindled steadily during the Obama years. This is largely owed to increased government spending, [increased] regulations, and a failed stimulus program that enriched the well-connected while leaving average Americans behind.

For the ninth time in 10 years, America’s index has lost ground. Coming in above 80 in 2008, the United States’ current index is barely above 75, tying it with

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The Four “Wild Cards” in Trump’s Handful of Advisors

This article was published by The McAlvany Intelligence Advisor on Friday, November 11, 2016:  

English: Logo of The Goldman Sachs Group, Inc....

Nervous conservatives are looking for signs that the “establishment” – i.e., Goldman Sachs, big banks, the Council on Foreign Relations, George Soros, etc. – having been unable to derail Donald Trump’s march to the presidency, is going instead to infiltrate and insinuate its operatives into the new Trump administration. Many of them remember the successful infiltration and subsequent manipulation of the Reagan administration with the naming of establishment insider James Baker as Reagan’s chief of staff.

At the moment there appear to be four “wild cards” out of the dozens Trump has already invited into his inner circle: Steven Mnuchin, Peter Navarro, John Paulson, and Carter Page.

The first and most obvious one is Steven Mnuchin, the head of Dune Capital Management and former director at Goldman Sachs, where he amassed a personal fortune estimated at more than $40 million as head of the firm’s trading desk. A graduate of Yale,

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Trump Adds to His List of Advisors

This article appeared online at TheNewAmerican.com on Thursday, November 10, 2016:  

English: Deck of cards used in the game piquet

In March, Donald Trump trotted out an early list of foreign-policy advisors on whom he would be relying if he were elected president. In an interview with the Washington Post, Trump said, “I can give you some of the names … Walid Phares, who you probably know, PhD, adviser to the House of Representatives Caucus, and counter-terrorism expert; Carter Page, PhD; George Papadopoulos — he’s an energy and oil consultant, excellent guy; the Honorable Joseph Schmitz, [former] inspector general at the Department of Defense; [retired] Gen. Keith Kellogg; and I have quite a few more.”

In August he added “quite a few more” and then, the day after he was elected, Trump added still more, this time in the economic policy area.

There are at least four “wild cards” in the deck that Trump is building,

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The Tax Foundation’s Big Surprise: Trump’s Tax Plan is Better Than Hillary’s!

This article was published by The McAlvany Intelligence Advisor on Friday, October 21, 2016:  

English: The standard Laffer Curve

The standard Laffer Curve

The Tax Foundation, founded nearly 80 years ago, considers itself non-partisan, guided by what it calls “the principles of sound tax policy, simplicity, transparency, neutrality, stability, no retroactivity, broad [tax] bases and low [tax] rates.” It has steadfastly opposed tax increases of any kind: income, corporate, or excise. Especially annoying are tax “preferences” (i.e., subsidies) for the housing industry and tax credits for certain constituencies (which the Foundation calls “picking winners and losers”).

So it’s no surprise that in its study of Trump’s and Clinton’s so-called “tax plans” the Foundation concluded that Trump’s was vastly superior to Hillary’s:

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Reality Sets In: OPEC Ready to Cut Production to Raise Oil Prices

This article appeared at TheNewAmerican.com on Friday, September 30, 2016:  

Wednesday’s announcement from OPEC about an agreement to cut production to shore up crude oil prices was met with both delight and scorn by observers. Exuded Phil Flynn, senior energy analyst at Price Futures Group:

This is the first OPEC deal in eight years! The cartel proved that it still matters even in the age of shale. This is the end of the “production war” and OPEC claims victory.

Bunk, said David Petraeus, the former CIA director who was forced to resign under a cloud in November 2012 and who subsequently was hired by Wall Street firm Kohlberg Kravis Roberts to chair the firm’s newly created KKR Global Institute:

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Michel Temer, Brazil’s New President, Faces Massive Challenges

This article appeared online at TheNewAmerican.com on Thursday, September 1, 2016:  

English: The newly elected president of the Ch...

Brazil’s new president, Michel Temer

Just after being sworn in as Brazil’s new president, and just before jetting off to the G-20 meeting in China to hobnob with the global elites, Michel Temer took time on Wednesday to make a promise to Brazilians: “From today on, the expectations are much higher for the [new] government. I hope that in these two years and four months [when his term ends in 2018], we do what we have declared: put Brazil back on track.”

That’s an expression more of hope than reality: Little is likely to change except the name of Brazil’s president. Temer faces challenges that would stagger Godzilla:

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Elon Musk’s Conversion from Saint to Sinner

This article was published by The McAlvany Intelligence Advisor on Friday, June 10, 2016:  

English: Tesla Roadster Sport 2.5, the fourth-...

Tesla Roadster Sport 2.5, the fourth-generation Roadster from electric carmaker Tesla Motors Inc.

Once upon a time Elon Musk said he believed in hard work, technology, and some breaks to gain success. He didn’t believe the U.S. government should provide subsidies to companies, and he believed that the free market would provide the “best solution” to such problems as pollution. At the time, Stanford University Professor Fred Turner called him out for being a hypocrite:

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Elon Musk: Once an Entrepreneur, Now a Crony Capitalist

This article appeared online at TheNewAmerican.com on Thursday, June 9, 2016:  

In the early days, Elon Musk (shown above) made his fortune the usual way: by creating products and services that people could use, which they paid for using their own money, to improve their lives. Today, however, he has found a better way: using taxpayer guarantees to help fund his new ventures and reduce his risks while he enjoys the profits if they succeed.

In simple terms, Elon Musk has become a welfare queen on steroids,

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Does Cruz’s Iowa Victory Signal the End of Ethanol Subsidies?

This article appeared online at TheNewAmerican.com on Wednesday, February 3, 2016:  

Texas Senator Ted Cruz’s surprise upset victory over Donald Trump on Monday night just might have set in place a movement to cut and eventually end ethanol subsidies within the next few years. Not only did Cruz push against Trump’s support of those subsidies (Trump played to the enormous vested interests in Iowa favoring continuing them), Cruz also pushed against Iowa’s Governor Terry Branstad. In January Branstad spoke at the Iowa Renewable Fuels Summit:

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GE’s Move to Boston: Corporate Welfare Through Tax Incentives?

This article appeared online at TheNewAmerican.com on Friday, January 22, 2016:  

In his rejoicing last week over the decision by General Electric (GE) — a company employing more than 300,000 employees and with annual revenues of $150 billion — to move its headquarters from Fairfield, Connecticut, to the South Boston Waterfront, Mayor Marty Walsh claimed that his city had just won the lottery:

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.