Economy

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    Nobody expects a debt crisis until they do

    As official Washington deepens its commitment to deficits and debt regardless of potential inflation or other repercussions, I recently came across an International Monetary Fund working paper by Paulo Mauro and Jing Zhou who found, “Government borrowing costs [on new debt] often rise abruptly and sharply, but just…
    Joseph Coletti, January 22, 2021
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    Soaking the rich with a wealth tax

    It’s so easy to let jealousy trump good sense. I think that’s what a ‘wealth tax’ is all about. A wealth tax, you see, is much more than hiking taxes on high earners because you think they don’t pay their ‘fair share.’ It’s about taking away the fruits of…
    Donna Martinez, January 21, 2021
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    Cooper: “We have a mandatory mask order, which is one of the strongest in the country.”

    Each time (nine so far) Cooper has announced an extension or tightening of his original mask order, the average daily case numbers have been higher than they were when he originally leveled the order.
    Jon Sanders, January 20, 2021
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    Biden’s problematic COVID-19 relief bill reviewed

    Editors at National Review Online scrutinize the new president’s pandemic relief proposals. At the outset of the pandemic, the government undertook a deliberate effort to reduce economic activity in what was widely thought to be a necessary measure to slow the spread of COVID-19. Whereas most recessions call…
    Mitch Kokai, January 20, 2021
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    Cooper’s corporate welfare: over a half a billion dollars for … that?

    Cooper’s corporate welfare tally for 2020 is jaw-dropping: $519.3 million pledged to just 48 corporations.
    Jon Sanders, January 19, 2021
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    Biden’s $15 Minimum Wage: Who Wins and Who Loses

    President Joe Biden has proposed a $1.9 trillion relief package. As City Journal puts it, “Feel Good Now – Pay Later.” Columnist Allison Schrager keys in on a key component: a federal minimum wage hike to $15 per hour. The plan includes a national $15 minimum wage and elimination…
    Donna Martinez, January 19, 2021
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    Why NC should envy Japan’s COVID-19 response

    The contrasts between Cooper's heavy-handed, deeply authoritarian, and woefully ineffective policies and Japan's less restrictive, more sensible virus mitigation policies are striking. So, too, are the similarities between Japan's policies and what we at John Locke have urged for North Carolina.
    Jon Sanders, January 15, 2021
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    Highlighting China’s plan for global economic dominance

    David Goldman writes for National Review Online about China’s threatening economic plans. China has a plan to assimilate most of the world’s population into a virtual empire dominated by its telecommunications, computation, manufacturing, and logistics. You can read all about it on Huawei’s English-language website, and hear it…
    Mitch Kokai, January 14, 2021