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 American presidency has grown in power almost continuously since the outbreak of World War II. The executive has risen from being simply the chief magistrate of the government to be being a quasi-legislative force, a leader who pushes an aggressive legislative agenda as well as enforcing the laws passed by the legislature. The president is frequently referred to as “the most powerful person in the world,” or “the leader of the free world.” Such appellations represent far more than good PR. They are statements of fact that the president of the United States has drastically more power and authority than any other individual on Earth. For that reason certainly, presidents should be restricted to a single term of office.
The Labour Party, the main opposition political party in New Zealand, made headlines last week when it announced its proposed policy for trying people accused of rape. According to the party’s justice spokesman, Andrew Little, the party is proposing that the burden of proof be reversed in rape trials. In other words, people accused of rape must prove their innocence.
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.
In his novel Nineteen Eighty-Four, George Orwell described the “memory hole,” a chute leading to a vast incinerator into which all unwanted documents were cast. The memory hole served as the ultimate form of state censorship, destroying any trace of information deemed to pose a threat to the regime. Thanks to a ruling in May by the European Court of Justice, a genuine digital memory hole has come online.
Panel 11 of the 9th International Conference on Climate Change was on the subject of “Climate Change, Human Health, and Adaptation.” The panel was primarily concerned about how climate change, and government responses to it, might affect the quality and extent of human life in the future.
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!
This summer’s elections to the European Parliament, the legislative body of the European Union, marked a radical swing against the greater centralization of power in the hands of Eurocrats in Brussels. A great many of the Euroskeptic parties that had big wins were the French National Front and the British United Kingdom Independence Party (UKIP). Other Euroskeptic parties on the continent, in Germany, Denmark, the Netherlands, Greece, and elsewhere, also made out quite well. It was a wake-up call to many European leaders who had been complacent and tried to label Euroskeptics as fringe or extremist. The performance of UKIP in particular, which beat all three mainstream parties in the election, made those labels ridiculous.
As Americans pause to celebrate the 238th anniversary of the signing of the Declaration of Independence in 1776, it well may be one of the saddest Fourth’s in decades. The six and a half years of the Obama regime has failed to unleash the nation’s capacity to recover from the 2008 financial crisis and has left the nation saddled in debt and dependency.
It was long the case that American presidents held less power on domestic issues than the Congress. The executive branch could only enact the laws of the legislature with a limited tendency to veto. The president’s real power lay in setting foreign policy, as he had much more freedom of action in that arena than on the home front wherein the checks and balances of the Constitution were in full force. That traditional balance has been overridden in the current political system. The fault for this breakdown of traditional magisteria of influence lies with both the executive and the legislative branches.
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.
The dearth of transplantable organs remains a serious problem in the United States and in much of the world. There are 123,000 Americans currently waiting for an organ. 18 of them die every day because demand continues to exceed supply. The problem has drawn the attention of many activists and policymakers, but sometimes the proposed solutions have proven more unpleasant than the problem. Chief among these unsavory solutions is the policy of opt-out organ donation.
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.
This is a YouTube video showing exploitation of kids for climate change taking place in Canada. Also displayed is a number of YouTube videos around the world showing the same exploitation taking place in other countries.
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).
President Barack Obama demeaned the dignity of the presidency by ridiculing tens of thousands of scientists for simply disagreeing with his lay opinions on global warming. While the political left throws shrill temper tantrums against anybody who “disrespects” the Office of the Presidency by asking Barack Obama a challenging question (something they had no qualms about during the Bush administration), Obama himself is setting the applicable ground rules for disrespectful political discourse and climate McCarthyism.
Today, the Manhattan Institute re-released its Obamacare Interactive Map. The map is one of the most comprehensive and useful tools for people looking to determine how Obamacare will affect their healthcare premiums. Presenting data by county, individuals can see just how costly the “affordable” care act is going to be.
This morning the House Judiciary Committee will undertake the markup of the Permanent Internet Tax Freedom Act. The Act would protect consumers from the increased costs in accessing and using the Internet by permanently extending the moratorium on Internet access taxes, and would prevent multiple and discriminatory taxation of Internet sales.