Fueling Outrage

New from the Business & Media Institute

Fueling Outrage
The media love David and Goliath stories, and theyve manufactured another one pitting the Poor Innocent Consumer vs. Big Bad Oil. The problem is, oil companies didnt set the prices that led to their recent high profits. That was the work of old-fashioned market forces. Now angry consumers and politicians want to hit the companies with new taxes, which would limit the gasoline supply ironically, the opposite of their goal to make gas more accessible.

Herman Cain: Punishing Profits
Politicians on the left and the right are calling for a windfall profits tax on oil companies earnings. But in Americas free market, there should be no limits to success. We work hard so that we can enjoy the fruits of our labors and the government takes enough of that away from us already.

CNN Says America Is in Trouble, and Its All Governments Fault
Lou Dobbs Tonight declared a grim conclusion in a recent broadcast, blaming policy makers for the death of the American dream. The report lacked specifics, used questionable statistics and conveniently ignored the robust growth of the U.S. economy.

The Good, the Bad & the Ugly
The Good, the Bad & the Ugly tracks the best and worst media coverage of business and economics. Readers are invited to submit suggestions or news tips to Director Dan Gainor.
This week: Your teacher today is; the trouble with Lou Dobbs; and the way to save people from malaria.

Also from BMI:

A Quarter Billion Dollars for Malaria, but No Time for Prevention

60 Minutes Bypasses Obvious Health Care Solution

Media in a Frenzy over Oil Profits

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Research, News & Commentary


Commentary: As oil becomes more expensive, oil sands and oil shale could become the next viable energy source.

Commentary: They never learn commentary from Investors Business Daily on the failures of government meddling in energy markets.

Health Care

Commentary: James Glassman explains why free-riding Europeans are making health care more expensive for U.S. citizens.

Research: For Medicaid to be successful, the entire program needs to be restructured: from cost cutting to new eligibility requirements. Welfare reform could be a good model.

Research: State regulations can make health insurance far too costly for consumers.

Government Spending/Taxes:

Commentary: Just like household budgeting during times of tragedy, government has to watch the checkbook and make some difficult choices.

Research: The American Enterprise Institute publishes polling data about attitudes toward taxes, government spending, and the ever-loathed IRS.

Free Market

Commentary: Michael Cannon plays myth debunker regarding a piece by Jonathon Cohn in The New Republic. Is there a tradeoff between choice and security, or is it possible to have both?

Commentary: School vouchers can put some 370,000 hurricane-displaced children back in school quickly and efficiently. Plus, this process could help heal the wounds of thousands of families who have lost everything to the violent storms.