Free Republic

A great way to entertain yourself and learn something at the same time is to look up old video of Milton Friedman smacking down liberals. You should be able to find the videos where most of these quotes come from on YouTube.

Since 2008, Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index has used the latest economic data to determine which states are doing well and which states are struggling. The past 50 years of data point to a clear connection between pro-growth policies of lower taxes, less regulations and competitive labor policies. The states that embrace free markets and limited government fare much better than their high-tax, big government counterparts. Utah, South Dakota, Indiana, North Dakota and Idaho—this year’s top five states—showcase how good economic policy can lead to economic prosperity, while New York, Vermont, Illinois, California and Minnesota—the bottom...

In response to complaints Crimean pensioners that they robbed the Russian State Council of Crimea illegal newspaper advised them " to the events of historic proportions to look not only through the prism of their own pockets ." About this newspaper so-called Council of State of Crimea " Crimean news " , commenting on the claims of retired First Deputy Prime Minister Rustam Temirgalieva Crimea during the opening branch of the Russian National Commercial Bank in Simferopol. Read: BP admitted temporarily occupied territory of Crimea " Almost immediately threw clients representative of the Council of Ministers issues and claims ,...

Minnesota lawmakers on Thursday approved a measure raising the state's minimum wage from one of the lowest in the nation to one of the highest. The measure to bump the hourly wage to $9.50, one of dozens of wage proposals debated by lawmakers around the country this year, passed the Democrat-controlled House by a vote of 71-60. The Democrat-run Senate approved the measure on Wednesday. It now goes to Democratic Governor Mark Dayton, who supports the bill.

An economist from Troy University offered an explanation for why so many of his peers failed to anticipate the 2008 recession that shows no sign of ending. “We’re not, in economics, very good at forecasting,” Scott Beaulier told an audience at the Philadelphia Society’s annual meeting in Chicago last weekend. “Sixty economists predicted 2.8 percent growth in 2008,” Beaulier reminded the crowd at the Renaissance Hotel in downtown Chicago. Obviously, they were a bit off, yet none were chastened. “What that missed prediction led to was a doubling down,” Beaulier said. “The Right said it came from too much government.”...

We all can agree that overregulation of an industry tends to chill innovative business strategies and ultimately harm the consumers the regulations were intended to protect. However, in pursuit of free market solutions, policymakers must craft public policy approaches that not only allow free markets to flourish but also protect consumers. State and local governments across the country are trying to find that balance as they explore regulations involving commercial ridesharing and ride-on-demand services, offered by transportation network companies (TNC) such as UberX, Lyft, and Sidecar. As previously noted here, these new services have put a new “hi-tech spin” on...

All three can be good or bad depending on how much, how and for what used. That a little bit might be good does not mean that a lot more will be better.RadiationMany years ago, in the mid to late 1940's and early 1950's when I was a young boy, shoe stores had X-ray machines permitting one to view images of the bones in one's feet. Health hazards were recognized but generally ignored. Although most of the dose was directed at the feet, a substantial amount would scatter or leak in all directions. Shielding materials were sometimes displaced to improve image quality, to make the machine...

Tennessee policymakers are considering the repeal or “localization” of the Hall Tax, a tax on investment income (interest, dividends, and capital gains). The legislature is correct to consider this a pro-growth tax reform proposal. The Hall Tax, like all taxes on investment income, takes in little revenue while creating huge economic distortions and severely hampering economic growth. Repealing the Hall Tax is a pro-growth move that is sure to pay dividends in terms of job growth and income growth for all Tennessee citizens. Tennessee is usually a state that tax-reformers hail as a role model, given that it has no...

Last week, a bill was introduced but never heard in the Washington State Senate that considered a proposal to tax electronic cigarettes at 95 percent of their cost; the same as other tobacco or tobacco substitute products. A similar proposal is currently working its way through the Washington House as part of the House budget bill package. Whatever the intentions of policymakers, singling out a specific product or group of products for extra severe tax assessment is contrary to the principles of sound tax policy and will harm the state’s economy overall. First and foremost, the tax code is the...

Economic study suggests we're heading for a Blade Runner future Earlier this month, a group of economists released the results of a massive study looking at the economic prospects of people from across the United States. What they found was that the U.S. is like a patchwork quilt of different countries, where some regions offer people the economic prospects of a typical developed nation — and other regions are more like a developing country. This study debunks a few myths about the United States, including the idea that wealthy nations have wealthy citizens. It's a powerful reminder that nations are...

As 2014 brings in new struggles for cities and states to pay for employee legacy costs while still funding the essential functions of government, policymakers on both sides of the aisle are reconsidering how to provide a secure retirement for state and municipal employees in a responsible manner. Reports estimate total unfunded pension liabilities exceed $4 trillion across the 50 states, and Detroit’s municipal bankruptcy, along with dozens more over the last half decade, are just the tip of the iceberg. Many thoughtful criticisms have come from reform discussions, but also many attacks built on misconceptions, “straw man” arguments and...

Milton Friedman speaks about public schooling and the voucher system...

I just started reading The Road to Serfdom - just started the second chapter after slugging through the various introductions and prefaces. About halfway through the first chapter, I started wondering – not for the first time – that whenever there is a discussion on socialism, some things – to me – always seem to be missing. One, how come no one ever does a compare/contrast with socialism and our Declaration of Independence and Constitution? Two, how come no one really defines socialism? How did it start? What is the difference between communism, Marxism, socialism, fascism, Nazism? I have heard...

I had come to you once before, my Free Republic good guy friends, for advice on what penny stocks are all about. In doing further research, I keep running across the concept of bitcoin. Somehow, I cannot find a place to start about learning what bitcoin is. It used to be simple. You read the cereal box where is said, "Send three Cornies Box Tops with check, cash, or money order for $2.95 to order your own see-into-the-future goggles. Be sure to specify whether you want the red or blue model." There's no such place on the internet. If you...

President Obama’s recent State of the Union address was the culmination of months of advocacy from Democrats and activists for a higher minimum wage. The President proposed a raise to the minimum wage for federal contractors by executive order to $10.10 per hour and called on Congress to raise the national minimum wage for all workers to the same mark, along with indexing it to inflation. A raise of the national minimum wage was framed as giving low income workers the “living wage” they deserve and fighting perceived growth in income inequality in America. Though the President’s proposal is well...

One of Utah's biggest school systems apologized Thursday and told angry parents it was investigating why dozens of elementary school children had their lunches seized and thrown away when they didn't have enough money in their accounts. "This was a mistake," said Jason Olsen, a spokesman for the Salt Lake School District. "There shouldn't have been food taken away from these students once they went through that line." The district came under national criticism after as many as 40 kids were given fruit and milk and their real lunches were thrown away Tuesday at Uintah Elementary in Salt Lake City.

Oklahoma is back on track to reduce its personal income tax and make sure it remains economically competitive. Last year, Oklahoma legislators voted to reduce the state’s personal income tax from 5.25 percent to 5 percent starting January 1, 2015. There was also a provision to lower the income tax further to 4.85 percent in 2016 if certain revenue targets are met. Governor Fallin signed the measure into law and Oklahoma became one of eighteen states to cut taxes during the 2013 legislative session. Unfortunately, the tax cut package was ultimately ruled unconstitutional by the Oklahoma Supreme Court. The package...

Economist Andy Xie has an interesting article in CaixinOnline that contains his views on 2014. I agree with nearly all his viewpoints but one. Please consider Breaking Out Is Hard by Andie Xie. The global economy is unlikely to accelerate in 2014. The hope that the U.S. economy is reaching escape velocity won't pan out. Abenomics is likely to fizzle out in 2014. Emerging economies will likely remain in low gear. The chances are that the global economy, weighted by nominal GDP at current exchange rates, will grow at 2 percent Globalization, turbo-powered by information technology, has cut short the...

“I just want what is fair for everybody…” If I’ve heard that line once, I’ve heard it hundreds of times on those occasions when I end up discussing business, economic, and public policy issues with members of the clergy. With the uptick in minimum wage worker strikes over the past few months (we saw another “round” of them at Wal-Mart stores this past week), I’ve had these conversations quite frequently. What is striking to me is that the starting point for many of these Pastors, Priests and Rabbi’s is to say that they are standing up for “workers’ rights.” But...

The United States is in the midst of an economic paradigm shift as evidenced by the evolution of state-level economies. States that used to be bastions of economic innovation are experiencing decline, while other states pick up the slack and replace them on the cutting edge of industry. In terms of public policy, the key to this shift lies in economic freedom and pro-growth tax and regulatory policies; states are realizing these policies are more likely to grow their economies rather than levying high taxes. Data show states with lower tax burdens vastly outperform their high-tax counterparts in nearly every...