All over the world, advocates of the free market are looking askance at Pope Francis. Since succeeding Benedict XVI in 2013, Pope Francis has mounted a vocal challenge to what he sees as the now dominant global ideology of capitalism.
The subject of tax inversion, in which American firms avail of lower tax rates in foreign countries by merging companies in those countries, has become very topical in the last couple weeks thanks to a decision by Abbvie, a drug company, to merger with Shire, an Ireland-based firm and move its headquarters overseas. One of at least 47 tax inversions in the last decade, the Abbvie-Shire deal is the largest such action yet, worth $54 billion. Perhaps unsurprisingly, President Obama and Democrats in Congress have become apoplectic with rage at the audacity of a business making a prudent decision to escape bloodsucking taxes.
The U.S. Environmental Protection Agency announced on Monday, June 1, a power-plant proposal that seeks a 30% carbon dioxide emissions cut by 2030 from existing power plant, based on emission levels from 2005. With this proposal, the main piece of President Obama’s Climate Change Agenda has been set in motion. Although the rule is scheduled to be completed one year from now and will give flexibility to the states, it will regulate carbon emissions from hundreds of fossil-fuel power plants across the U.S. The 600 U.S. coal plants will be hardest hit by the standard.
It began as the idea of one eccentric entrepreneur, but now has 1.3 million signatories backing it: the case for breaking California up into six separate states is gathering steam. When the Six Californias campaign began, most serious commentators thought it was crackpot scheme, a pipe-dream of a few people that had no hope of gaining traction. They have been proved wrong. To an extent anyway.
Now that the dust has settled on the Supreme Court’s 2014 session, we can look at the decisions and conclude that the Administration received a serious smack down. Two big cases got most of the news coverage: Hobby Lobby and the National Labor Relations Board’s (NLRB) recess appointments. In both cases, the Administration lost. At the core of both, is the issue of the Administration’s overreach.
Panel 8 of the 9th International Conference on Climate Change was on the subject of “Costs and Benefits of Renewable Energy.” The panel was focused on the subject of renewable energy, specifically the high cost and potentially devastating economic consequences produced by the federal government’s efforts to replace the current energy sources with renewables.
A cautionary tale about the pitfalls of bureaucratic incompetence played out in Ireland over the last several days. American country music star Garth Brooks was scheduled to play five concerts in the Croke Park arena, one of the largest venues in the country. In all, 400,000 tickets were sold. That is an astonishing number, considering Ireland’s population is just under 4.6 million. Close to one in ten citizens was planning to attend!
The FCC has asserted a foundational regulatory premise that warrants rebuttal and disproving, given that the FCC is considering if Internet access, and Internet backbone peering, should be regulated like a utility under Title II telephone common carrier regulation.
Hillary Clinton’s memoir, Hard Choices, has failed the one test even the Obama White House cannot rig (or simply chose not to do): book sales numbers. Although the legacy media have commonly characterized sales of her book as lukewarm so far, the numbers are significantly worse than that, considering her name-recognition and public prominence.
Two western state governors intend to get low carbon fuel standards, by legislation or decree Progressives believe in free speech, robust debate, sound science and economics, transparency, government by[...]
The public, even parents of school aged children, tend to trust those in authority to make good decisions and enact credible laws regarding our public education system, believing that any[...]
In the past two decades the Internet has come to be a dominant part of people’s lives. For work, pleasure, communication, and countless other uses, the Internet is an indispensable tool to many individuals. Without it, much of the information-based civilization that has been built up would stop working the way we are accustomed to.
Regulations have a way of growing like weeds: unless they are rooted out, they spread. Regulatory compliance has always been a headache for small business owners who do not enjoy the cozy relationships with big government that large corporations often develop. In fact, they are frequently ignored by legislators both in Washington and in the states. John Lieber, chief economist of Thumbtack, recently joined Heartland’s own Steve Stanek for a talk on the business climate in America today. Thumbtack is an online marketplace that brings together service providers and consumers who can negotiate and organize jobs.
Does Netflix have any responsibility to help provide its users the streaming service that they paid Netflix for by connecting with ISPs in the high quality manner that most all other content delivery networks do? In other words, why is Netflix such an outlier here?
Last year, Congress enacted 72 new laws and federal agencies promulgated 3,659 new rules, imposing $1.86 trillion in annual regulatory compliance costs on American businesses and families. It’s hardly surprising that America’s economy shrank by 1% the first quarter of 2014, our labor participation rate is a miserable 63% and real unemployment stands at 12-23% (and even worse for blacks and Hispanics).