That being the title of Andrew Heaton's latest video at Reason, which contains more serious content than is usual for Andrew's videos, and I highly recommend it…
… um, unless you're of Irish descent, and sensitive about it. (In which case, best to you on St. Patrick's Day!)
Also of note:
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An easy call for me. Veronique de Rugy poses a choice for you: Tax the Rich or Discipline the Government?
In 1950, [s Cato Institute tax scholar Adam Michel] documents, total government spending constituted roughly one-fifth of the U.S. economy. That figure has now risen to more than one-third. Real spending per person quadrupled over that same period. Jack Salmon of the Mercatus Center traced this phenomenon back to determine exactly where the long-term structural deficit comes from, and found that 98% is due to spending decisions. About two-thirds of this deficit reflects the compounding cost of interest on debt we've already accumulated. The remainder is mandatory program growth, above all with Medicare, which is on a trajectory to nearly triple as a share of GDP by mid-century compared with its historical average.
No plausible tax increase can close a gap like that. There's a hard empirical ceiling on how much revenue the government can actually extract, regardless of what tax rates it sets.
More fiscal fun facts from Vero at the link. The real problem? We (present company excepted) keep electing politicians who lie to us about this.
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Speaking of spending… At Cato, Chris Edwards looks at a sacred cow: Farm Subsidies: More, More, More.
Republicans can’t get enough of farm subsidies. The House GOP is currently pushing another big farm bill just months after President Trump doled out $12 billion in special farm payments. By one measure, farm subsidies are projected to soar from $23 billion in 2025 to $42 billion by 2027, so now is a good time to review these growing handouts.
The federal budget fattens many industries, including defense, health care, transportation, and housing. But no industry is more coddled by the federal government than agriculture, particularly field crops. Billions of dollars a year flow to farmers of corn, wheat, soybeans, cotton, and rice.
Farmers are businesspeople, but the government shields them from just about every type of weather and market risk. Furthermore, just about every part of the agricultural industry is subsidized, including insurance, loans, marketing, research, export sales, and land improvements.
Most welfare programs are for low-income families, but farm welfare is for high-income families. The average income of US farm households in 2024 was $159,334, which was 32 percent higher than the $121,000 average of all US households. But Congress steers subsidies to the wealthiest of those farm households. Two-thirds or more of payments from the major subsidy programs go to the largest 10 percent of farms. Even billionaires can receive farm subsidies.
As a one-time Iowa boy, I like farmers a lot, but they need to be weaned off the federal teat.
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And at the University Near Here… NHJournal has mixed news: UNH's $212K DEI Director Out, but Race-Based Policies May Remain.
She survived years of tight budgets, legislative action, and presidential executive orders, but the University of New Hampshire’s $212,000 DEI officer is finally on her way out.
The question now is whether the UNH administration will continue to push for the race-based policies and practices that are unpopular with the voters and — more importantly — the legislators who oversee their funding.
In a letter to students and faculty, UNH President Elizabeth Chilton announced that Dr. Nadine Petty will be leaving at the end of the year.
“Since joining UNH in 2020, Dr. Petty has helped strengthen the university’s commitment to an inclusive, equitable, and respectful campus community,” Chilton wrote.
Chilton’s letter didn’t mention federal and state laws mandating an end to the so-called “diversity, equity, and inclusion” policies Petty was hired to oversee. Instead, Chilton said Petty and her husband will “relocate to be closer to family outside of New England.”
Yes, she's leaving to spend more time with her family.
I wish her well, and hope she exercises her talents in some less divisive field.
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