The Moment is Over

The moment is over.

Yes, Tuesday was a wonderful reminder that conservative principles and common sense – when articulated well – still win elections.  But Tuesday was a couple of days ago and the progressive left is in a hurry to make America pay for it.

So, buckle up buttercup. There is no time for a victory lap. There was another attempt to federalize (that is, make sure only Democrats win) state and local elections. It got filibustered, thank God, but how long the filibuster will last is anyone’s guess.  And Speaker Pelosi is hell-bent on finding the right combination of giveaways and political perks to push through Joe Biden’s “human” infrastructure legislation. It already contains enough poison to sicken the American economic system – and our civil liberties – for decades. Perhaps even forever.

Word leaked out today that the massive bill still contains the provision requiring banks to report on transactions totaling $600 or more. This isn’t to monitor the uber wealthy; it’s to monitor you.  It also isn’t certain whether this is for an individual transaction, or cumulative transactions.  Do you want the IRS (the government) snooping into your finances?  This isn’t to catch the wealthy cheating on their taxes. This is to compile information, a dossier if you will, about you, your spending habits and how you live your life. Everything an out-of-control government needs in order to regular and control you, and not that far down the road.

Meanwhile, the Biden Administration has offered to settle a lawsuit brought against the government by the ACLU by paying certain individuals who crossed the southern border into the U.S. for the indignity of having their families separated. The offer? $450,000 per person, presumably with a cap for each family.

The creation of instant millionaires. What a country!

The ACLU and the Biden people aren’t exactly on opposite sides of this lawsuit, obviously. Where a reasonable person would expect our government to take the case to court and let justice prevail, the Biden bunch says, to effect, “We surrender. Not one cent for defense, but millions for tribute,” turning the historical adage upside down.

We can debate how illegal aliens are compensated when they are mistreated – if they are mistreated – but it’s insanity to offer instant wealth while hard-working Americans are struggling to buy groceries and gasoline.

Frankly, it’s an insult to everyone past and present who has played by the rules and asked for nothing but an equal opportunity to succeed. I’m not much for playing the victim game, and I don’t think we create good citizenship by encouraging it.

Both the $600 bank reporting and the proposed $450,000 per aggrieved migrant are examples of government overreach. Both need to be shouted down from the rooftops.

Now is not the time for self-congratulations. It is time for diligence, networking and prayer. We haven’t won back our freedom yet.

Taxing Paper Wealth

A new front has opened in class warfare

The Biden Administration is very busy. It’s hard to keep up. Once upon a time – in previous presidencies – there was an outrage of the month. The pace quickened and it was an outrage of the week, then the day. Now it is the outrage of the hour.

Sometimes it’s difficult to focus on one particular egregious policy or action, there are so many from which to choose. But two recent reports stand out. One threatens to upend the dynamic that drives American economic progress. The second stands out as a slap in the face to all who pay taxes and want to have faith in the judicial system. (I will deal with that in the next post.)

President Biden has “expressed support” for an annual tax on the unrealized capital gains of “the wealthy.” That probably sounds swell to a lot of people who have been taught to despise the wealthy (but not the wealth).  But there’s a huge problem here, as Elizabeth Dellinger of Fisher Investments explains:

… economists from the Office for Management and Budget (OMB) see it differently, apparently. Their report redefined income as the increase in wealth from one year to the next—a bizarre methodology that introduces a lot of oddities, in my view. This would be a mere academic curiosity if Congressional Democrats weren’t jawboning about taxing wealthy individuals’ unrealized capital gains as they scramble to rewrite the reconciliation budget bill.

And:

Much of the current push stems from the notion that wealthy people aren’t paying their “fair share,” which the OMB’s analysis aimed to demonstrate. It estimated “the average Federal individual income tax rate paid by America’s 400 wealthiest families, using a relatively comprehensive measure of their income that includes income from unsold stock.” (Italics mine.)

Thing is, these families are not sitting on mountains of gold coins like Scrooge McDuck. Their wealth is predominantly assets—illiquid (businesses, art) and liquid (stocks, bonds). Increases to that wealth exist on paper only. The current proposal to tax unrealized gains would include real estate, which is also quite illiquid—you can’t sell it in a minute and expect to get fair value. Nor is there a way of tracking its market value day by day. Like all illiquid assets, rising property values are one step away from imaginary.

What happens if this new tax becomes law?

First, lawsuits. Not all billionaires have under-the-table sweetheart deals with the administration, and they aren’t going to take a full-frontal assault on their wealth without fighting back. Nor should they. Leftist hopes to destroy American capitalism could be dashed against the rocks of the Constitution, but the damage to the economy would linger.

Second, changes in behavior. The uber-wealthy are smart and they employ smart people to help them cope with such insanity. They may expatriate to less greedy countries, taking their wealth – not to mention their initiative and the jobs their wealth provides – to greener pastures. The loser in this will be America. Very few jobs are created by people on food stamps. Unemployment will rise; businesses and factories will close. Few will want to invest in a market that could bring upon you catastrophic taxes.

Third, at first the law would be for the billionaire class. It would not stay that way, especially if revenues fall below expectations. Those who would grow government will not be satisfied until these taxes on “paper wealth” are extended downward. Remember your history: the original federal income tax was capped at 7 percent for those considered uber wealthy in 1913. Oh, those were the days!

Ms. Dellinger explains that

… there are two simple reasons capital gains taxes have preferred rates. One is incentivizing long-term investment, which drives job creation. The other is to account for inflation, which can offset a large chunk of long-term returns.

Inflation, which is rocketing now, is the best friend of the socialist mastermind. It provides a never-ending opportunity to “do something,” whether it is instituting new, expensive programs that dictate what people can and cannot do, or increases in taxation when “paper wealth” rises because of inflation.

You see, inflation is not a defect in the current economic situation, it is a feature. But only if you want bigger government and don’t give a damn about capital markets, free enterprise or freedom itself.

There is already too much money (much of it created digitally) chasing too few goods (some of it waiting offshore to be unloaded) which means prices rise. I expect soon to hear calls for wage and price controls, which will solve nothing.

When markets take a downturn, as they will, and the unrealized gains turn into unrealized losses, will the government offer tax credits or rebates? Hell, no! The flow from the private sector to the government is one-way only.

Understand, punishment for the rich will only punish everyone. Whether there are enough intelligent people left to comprehend this, who knows? Whether there are enough men and women in Congress with the common sense and courage to say no, we shall soon see.

Shining light on dark Lord Fauci

Let us acknowledge what is proven to be true: Dr. Anthony Fauci believes that he is not only above criticism and suspicion for anything that he has said or done, he believes that his is the final word on all things medical. In his dual roles as chief medical advisor to the President and head of NIAID (National Institute of Allergy & Infectious Diseases), he wields great power.

With great power comes great responsibility but Fauci acts more like a Sith Lord than a humble public servant. (Think Darth Vader and Emperor Palpatine.) So henceforth we shall call him Lord Fauci, a master of the dark side of biomedical research and applications.

There are calls for his resignation and/or arrest with the disclosure of records that reveal that NIH, through a third-party, did indeed fund research into “gain of function” of exotic bat viruses at the Wuhan Institute of Virology. Yeah, that lab. Some $3.1 million was spent in 2014, nearly $600,000 sent to the Wuhan lab itself.  The letter contradicts Lord Fauci’s sworn testimony before Congress last May that no such research ever took place. It also vindicates Senator Rand Paul of Kentucky, who has been most vocal in calling out Lord Fauci’s mendacity.

In fairness, the latest revelations do not prove that the United States, working through NIH and Chinese officialdom, created the Covid-19 virus. But it certainly doesn’t rule out the possibility. As of now, there is a lot more smoke. Somewhere, there is a fire.

Adding more impetus to the demands for Lord Fauci’s ouster is a second report that details how NIAID did experimental research on 44 beagle puppies, spending $1.68 million to force feed them an experimental drug after first infecting them with parasites, all this in a lab in Tunisia, North Africa. After four or five months, the dogs were killed and dissected. But it gets worse: early in the “study,” the puppies had their vocal cords cut, apparently so lab workers did not have to hear their howls of pain.

All this will be nothing compared for the howls from animal rights groups, understandably. Beagle pups? Really?  This is Lord Fauci’s agency over which he has direct control. In a sane world, in a just world, there would be consequences for this man who has been in his job for far too long.

In a recent interview with Chris Wallace of Fox News, Lord Fauci was asked why he was such a polarizing figure.

Instead, Fauci said he could not think of a single reason why he is polarizing.

“Well, I’m not so sure I could answer the latter because I can’t think of anything,” Fauci said, “but I’m sure some people will.”

How about this:

“I think what people have to appreciate, that indeed you do have personal liberties for yourself and you should be in control of that,” Fauci said recently. “But you are a member of society, and as a member of society, reaping all of the benefits of being a member of society, you have a responsibility to society.”

“I think each of us, particularly in the context of a pandemic that’s killing millions of people, you have got to look at it and say, ‘There comes a time when you do have to give up what you consider your individual right of making your own decision for the greater good of society,'” he explained.

There are a dozen other examples, including how it is too soon to determine whether American should be allowed to gather together for Christmas. But let’s just rest the case against Lord Fauci at this point. He has lied to Congress, gave money through a third party to the Wuhan Institute of Virology, and has no respect for the Constitutional freedoms afforded to citizens of the United States. Oh, and he kills beagle puppies.

For the sake of his soul, I will pray for him. For the sake of our country, Lord Fauci should be removed from his posts and brought to justice.

Autumnal Pet Peeves

I will stay a little more on the lighter side today, but not much. This is my Autumn 2021 list of pet peeves that challenge my desire to promote peace and harmony in the world. To paraphrase Michael Stipe, “That’s me in the Tundra, losing my religion.”

Much of what is wrong with present-day America could be repaired with a bit more compassion, enhanced concern for our neighbors, and a return to basic rules of etiquette and manners. Not everything is left or right; some of it is consideration, or the lack of it. Here are five topics which, if corrected, would be a good start:

Roadside Litter.  Actually, any litter but especially the garbage thrown by thoughtless motorists.  I thought we had sufficiently educated ourselves “back in the day” but apparently not.  There is a geographical component to this unsightliness. Drive through most of Kansas and Missouri and you rarely see anything except clean highways, streets and yards. Not so much Oklahoma and Arkansas. People often chide me for trash in my back seat, where it awaits proper disposal. I don’t care. We need to have pride in our cities, towns and states.

Left Lane Lurkers.  These are drivers who either didn’t pay attention in Driver’s Ed, or they have their left and right confused. Despite frequent signs in many places that advise slower traffic to keep to the right (“keep right except to pass” is an alternative), they just don’t get it. Until, that is, you pass them on the right. Then that’s when they want to move over to your lane.

The Turn-Signal Challenged.  I was taught that you signal a turn every time you prepare to turn or change lanes. Do it often enough, it becomes second nature, you don’t have to think about it.  Every day I encounter people who apparently refuse to use their turn signals. It comes off as inconsiderate, and it’s often dangerous. Definitely not cool. If you’re too lazy to engage signals, then heaven help you if you have to stop suddenly and need your brakes. That takes real effort.

The Supermarket Conversationalists.  Pushing carts, they meet in an aisle, engage in conversation, and callously ignore all others who are trying to get through from either wide. They often glare at you if you attempt to get their attention. I’m all for face-to-face communication, but there are proper times and places. Take your talk elsewhere, people!

Drive-Through Dysfunctionality. People use drive-through lanes at restaurants to save time, or at least they used to.  Nowadays, I see people chatting on their phones, texting or social media-cavorting, paying little attention to the vehicle ahead of them, or showing any concern for those still waiting to order. There may be fifteen cars behind them, but they will not move until they are finished. This has to be frustrating to the food-service people who are trying to keep the lines moving. It sure is for those waiting behind them. For the love of all that is holy, develop some situational awareness!

A ‘Roadmap’ to what?

Last Friday, while you were winding down from a hard work week, making plans to attend a football game, or a balloon festival, or get some fall yard work done, the Biden Administration quietly released its “Roadmap to Build an Economy Resilient to Climate Change Impacts.”  Prepare for the next assault on your freedom.

As a rule, any major announcement that is done in the waning hours of a Friday is to keep it from becoming front page news. A Friday release probably wasn’t necessary, with the all-compliant corporate media willing to take a nap. But it is something you need to know about. The changes envisioned in this “Roadmap” will affect your future in very bad ways, and all built on the wobbly concept that climate change is a national security threat.

Climate change, as you should realize by now, is anything the left declares it to be. If hail pounds roofs in Weatherford, Texas, in the fall, then the climate is out of whack.  If there are places of drought, excessive rainfall, a flooded river, an errant tropical storm, or an unexpectedly delightful sunny day, all are symptoms of climate out of control.

We used to call it weather. Now, all weather is climate change, and the government is mobilizing (targeting our economy) to mitigate the damage. An excerpt:

This year alone, extreme weather has upended the U.S. economy and affected one in three Americans. Both international and domestic supply chains have been disrupted by climate change – whether it’s floods in China and Texas, or wildfires that have burned nearly six million acres of land, supply chains across critical industries including housing, construction, semiconductors, and agriculture have been affected, causing delays and shortages for both consumers and businesses.

Yeah, you read it right. The supply chain disruptions are the result of climate change. Not the imbecilic lockdowns and mandated vaccinations that are causing a great number of workers – blue and white collar alike – to risk their jobs. No, of course it’s the climate. Not the labor supply problems resulting from paying people to sit on their collective brains while the government pays them. Gotta be the climate, right?

But it gets so much better. The Biden Administration plans to make all of us snowflakes safe by protection our investments by inserting new rules as to where investments can be made, and where they can’t.  Excerpt No. 2:

Climate-related risks hidden in workers’ retirement plans have already cost American retirees billions in lost pension dollars. Climate change poses a systemic risk to our economy and our financial system, and we must take decisive action to mitigate its impacts.  By addressing the costs of the climate crisis head-on, the federal government will safeguard the life savings of workers and families, spur the creation of good-paying, union jobs, and ensure the long-term sustainability of U.S. economic prosperity. The roadmap makes clear that protecting the financial health of American households, deploying clean energy in United States, and building an economy from the bottom-up and the middle-out go hand-in-hand. 

The plan is to act in unison with some of the largest banks and lenders, through the US Treasury Department, USDA, HUD and Veterans Administration, among others, to impose a new code of conduct for investments, whether we like it or not.

Question No. 1 – Do we trust this gang that couldn’t handle the withdrawal from Afghanistan to lay hands on the American economy?  (I would argue that the damage the Biden Administration has already inflicted is breath-taking in its economic ignorance.)

Question No. 2 – Doesn’t this “public-private partnership” play bloody hell with individual freedom?

Excerpt No. 3:

This week, the Department of Labor announced it is proposing a rule that protects workers’ hard-earned life savings by making clear that investment managers can consider climate change and other ESG factors in making investment decisions. The proposed rule – which, if finalized, would help safeguard the more than half of American workers who participate in a retirement plan through their job, representing over 140 million Americans and more than $12 trillion in retirement savings and pensions – would protect workers by making sure that retirement managers don’t turn a blind eye to climate risks and other important factors. It would also make clear that retirement managers can take important environmental, social, and governance factors into account when making investment decisions, so that workers can share in the gains that come from sustainable investments.

Ah, yes, the ESG scores. ESG stands for Environmental, Social and Governance. This is why the government wants to monitor all bank accounts for transactions over $600. The left wants to know how you spend your money. If you don’t buy an electric car, if you don’t give to leftist causes or if you believe in the Sanctity of Life, and you contribute money to conservative political candidates, then your ESG score will drop like a big rock and you may be forbidden to take out loans for things like, oh, houses and such.

This is all part of the Great Reset that the global elites have determined must take place so that we can all be equally miserable in the coming New World Order.

Yes, I know that it sounds a bit nutty, but read the document for yourself. Do a little bit of research that doesn’t come through the mind-masters of social media, and educate yourself before they ram this stuff over all of us. Expect the propaganda machine to go into high gear, and Facebook factcheckers to clamp down on any “discouraging words” that question the wisdom from on high.

Let’s go, Brandon!