One of the hottest topics in today’s news is immigration, both legal and illegal. The discussion is focused on “solutions,” but perhaps we should begin with an examination of why immigration occurs. The kind of immigration that is making headlines – movement of Hispanic immigrants across our Southern border – is primarily economic immigration. That means we should be able to use basic economic theory to tell us why it is occurring and what ought to be done about it, if anything. Basic economic theory tells us that labor tends to move from low-wage areas to high-wage areas. For example,... continue reading
When most people hear the word Enron, they mentally complete the phrase by adding the word scandal. As reporter Lester Holt of NBCs Today put it in a January 1 story, Enron has been the poster child, if you will, of corporate scandals. It isnt the only one, though. Theres $40-billion scandal with most of the same elements even connection to prominent politicians. Just dont expect to see much about it on TV. After all, the top people involved here are Democrats. Welcome to Fannie Mae, the government-sponsored mortgage giant. As part of a scandal thats been running nearly two... continue reading
Paying taxes is one of the least enjoyable things in life. But all taxes arent equal. Some fund pork or programs the government has no business being involved with. Others genuinely provide for the common defense and help support our troops, especially in times of war. This close to Memorial Day, it would seem like a slap in the face to the millions who have fought to defend us to oppose paying those bills. Thankfully, wars end, and so sometimes do the taxes used to support them. The Treasury Department just announced it was going to set aside one such... continue reading
Since Hurricane Katrina swept ashore on the Gulf Coast, weve heard seemingly countless reports of record high gas or oil prices. From the beginning of September last year, the big three networks -- ABC, CBS and NBC -- have told us about record high gas or oil prices close to 100 times. Theyve been wrong each and every time. Thats right. Wrong close to 100 times. This isnt my opinion. It comes from the Energy Information Administration of our own U.S. Energy Department. According to their figures, oil hasnt even come close to the $86.99 it needs to reach inflation-adjusted... continue reading
Money is the root of all evil. That seems to be the medias Sunday school lesson to audiences lately. First, they demonized oil companies for making too much. Then they went after individual CEOs. Most recently, theyve once again turned on that group that forever threatens the well-being of America: The Rich. Yes, according to the press, Congress has again bowed to the wishes of The Rich. It has cut them a huge tax break while the rest of America suffers and the national debt soars from the cost of letting people keep more of their own money. But the... continue reading
First, a little background about ANWR for the newly initiated into this perennial endeavor. The Arctic National Wildlife Refuge is an enormous wildlife sanctuary in the northeast part of Alaska. When I say enormous, Im not kidding. ANWR is 19 million acres. Thats three times the size of Maryland. According to the U.S. Geological Survey, ANWR is estimated to have up to 16 billion barrels of oil. At $70 a barrel, that could be worth as much $1.1 trillion. That number is so incredible, many smaller calculators simply cant handle it. Eight or even nine digits are not enough. All... continue reading
I paid too much for gasoline last week. My fill-up of premium gas cost me $3.04 per gallon or $42.40 just to replenish the near-empty tank. Premium? Heck, we might as well change the name to outlandish. Like most Americans, I fumed more than my exhaust pipe. I was looking for someone to blame. I didnt have to look any further than my TV. Why investigate the issue and find out the many major reasons why gas prices are so high when I can blame the oil companies just like TV news does? Thats the attitude the media have been... continue reading