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America at Yearend 2017 — Back From the Brink, Not Into the Abyss

 

World War I ended with the collapse of vast empires and the age-old monarchies that ran them. What kind of a new world would emerge from the imperial rubble? The poet William Butler Yeats was nothing if not pessimistic. In 1919, he wrote: Turning and turning in the widening gyre The falcon cannot hear the […]

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Foreign Regulators Should Not Be U.S. Competitors’ Secret Weapon

 

The economy is booming under President Trump. Unemployment is low and the stock market continues to set new record highs. With the administration and lawmakers on Capitol Hill intent on reforming the tax code, America’s businesses should be on a path toward growth. However, economic progress may be deterred by regulatory overreach here and abroad […]

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The FDA’s Farm Failure

 

Under the leadership of Scott Gottlieb, the U.S. Food and Drug Administration (FDA) has the potential to embrace innovation and shed its reputation of being a slow-moving, politically manipulated agency. But there are problems that need to be addressed. For example, the Government Accountability Office (GAO) says the FDA can’t enforce its own rule on […]

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‘A Giant Tax Cut for Christmas’

 

Republicans on Capitol Hill affirmed on Wednesday reaching an agreement reconciling the Senate and House versions of the tax bill. This accomplishment perhaps eclipses the actual passage in both houses of the bill(s?), which reads as two distinct pieces of legislation despite House Speaker Paul Ryan, in a discussion with Fox News, calling the two […]

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The Wealth Gap Between White and Black in America

 

Now for a few words about money and race. It’s hardly a secret that black households in this country as a group are substantially less well off than white families. The income gap between white and black families has narrowed over recent decades. But the disparity between what black households own in dollars and cents […]

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Everybody Is Wrong About Net Neutrality

 

There’s one question you should be asking in the misnamed net neutrality debate: How will any of this affect me? The Federal Communications Commission is preparing to revoke a 2015 Obama-era rule that attempts to regulate internet service providers as public utilities under a 1934 law that was meant to regulate Ma Bell. There are […]

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The Legal Trap Is Shutting on Patent Trolls

 

Innovation in the current Congress is practically a dirty word, as almost nothing encouraging it has made it past both houses. Most notably of all, the Innovation Act has been stalled in the House for years, despite massive bipartisan support for it. However, thanks to the general ineffectiveness of Congress, and the efforts of a […]

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Call It a Stupidity Tax on College

 

Let’s tax college. It’s a basic rule of economics that if you want less of something, you ought to tax it. We have entirely too much intellectual smog in our culture, and a small excise tax on university endowment income could be a start on clearing the air. The Tax Cuts and Jobs Act introduced […]

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Robert Reich Misses the Point Again

 

Crony capitalism is one of the biggest problems the American economy faces today. In order to gain an artificial advantage over competitors, cronyistic businesses push for economically damaging regulations, restrictions on trade, and market-distorting subsidies and tax breaks. Confronting such a wide-ranging epidemic requires that Americans have a strong grasp of how crony capitalism manifests […]

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The All-Electric Car Fairy Tale

 

Should the American taxpayer be required to subsidize an industry that could not survive on its own? Following news that President Trump’s draft budget repeals the $7,500-per-vehicle federal tax credit for electric cars, Tesla’s share price took more than a 7% dip. Electric vehicles are the only kind Tesla makes, and it receives other subsidies […]

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