AIER’s Phil Magness and James Harrigan report on the University of North Carolina’s egregious settlement with the journalist (so called) Nikole Hannah-Jones. Here’s their conclusion:
And as galling as it is to see Nikole Hannah-Jones try to weasel her way into an unearned tenured professorship, there is one thing that is even more galling: She hasn’t published a single piece of journalism in the New York Times, her other full-time employer, in over two years. Maybe the Times is on to her. They claim to publish all the news that’s fit to print, after all.
If you were dictator, would you abdicate?
There’s a net $300 billion in the bill dedicated to reducing the deficit through higher taxes. In normal times, when inflation runs around 2%, a tax increase of about 1.2% of gross domestic product would exert some downward pressure on inflation. But because the deficit reduction is concentrated at the end of a 10-year period, only about a tenth of this reduction, 0.12% of GDP, would materialize in the next year.
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The details of the bill are even worse. The deficit reduction comes not from spending cuts, which would reduce demand, but tax hikes, which reduce supply. The inflation hitting American families is a result of demand outstripping supply. The Inflation Reduction Act will place further constraints on supply through regulations and tax increases, as well as redirecting resources via hundreds of billions of dollars of special-interest subsidies aimed at Democrat constituencies. Roughly half of all new taxes would be paid by manufacturers, a disincentive for production. The bill would unleash an army of tax enforcers on small businesses, raising their costs and impeding their ability to respond to customers.
“Just How Clean and Green Is Your Electric Car?”
Samuel Gregg explains how “Thomas Aquinas desacralized the state.”
TANSTAFPFC (There Ain’t No Such Thing As Free Protection From Covid.)
Toby Young reports on the Sunday Times reporting on how lockdowns made the British sicker.
