Why are Democrats Sen. Chuck Schumer and House Speaker Nancy Pelosi teaming together to lobby for a tax bill that would provide about 80% of the benefits to Americans who make more than $100,000 a year?
Washington do-goodism almost always fails to help the people it is supposed to because politicians ignore the Law of Unintended Consequences. Nowhere is that more evident than when it comes to a congressional plan to put payday lenders and other short-term lending institutions, such as the burgeoning online lenders, out of business.
The Federal Communications Commission has thrown a curveball into the global race for deployment of 5G -- the much-anticipated fifth generation of cellular and wireless technology. FCC Chairman Ajit Pai has announced his support for a government-run auction of an underutilized 500-megahertz space on the electronic spectrum that cellphone carriers like AT&T and Verizon need to deliver 5G wireless services.
Every single plausible Democratic candidate for president has endorsed tax increases as a centerpiece of their economic agenda. Think about what we are hearing from Elizabeth Warren, Joe Biden, Bernie Sanders and the rest of the "Punch and Judy" show: new wealth taxes, carbon taxes, energy taxes, higher death and income taxes with rates up to 70%. Payroll taxes would rise to pay for Social Security benefit expansions and Medicare for All.
First, a full admission about this article: I originally sent a version of it to The Washington Post for publication, but for reasons that will become obvious as you read on, they rejected it.
Wouldn't it be wonderful if for one brief shining moment in Washington, Congress put good policy over politics -- and passed a bill that would benefit American workers, investors and businesses?
Joe Biden is at it again -- living in his own parallel universe. The same former vice president who says that his son Hunter was hired by a Ukrainian oil and gas company because of his expertise in energy policy is now claiming that President Donald Trump has "squandered" the strong Obama economy he inherited.
Last week, the lobbying arm of the wind energy industry made an unsurprising, though somewhat embarrassing, announcement. It wants a longer lifeline with federal subsidies. So much for wind being the low-cost energy source of the future.
How much of the monetary gains from the Trump economic speedup have gone to the middle class? If you ask Democratic senators and presidential candidates Elizabeth Warren, Kamala Harris and Bernie Sanders, the answer to that question is ... almost none.
While running for president in 1960, John F. Kennedy campaigned against the moderate growth economy (2.5% annual GDP rise) in the last years of the Eisenhower administration. He appealed to Americans' highest aspirations by saying in his typical Boston drawl: "We can do bettah." JFK promised 4% and 5% rates of annual economic progress for the nation -- and he delivered.