Colluding with Reality


I’m so old, I remember when Reality was supposed to have a “liberal bias.”And Reality has been doing violence to much of the Left’s cherished agenda for the past few days.

UPDATE—

Leftist ideas can’t withstand debate. Leftists know that, which is why they’re always trying to silence their opponents, generally in the name of some sort of decency or compassion that they themselves spectacularly lack.

Glenn Reynolds

Senate Votes Down The Green Nude Eel


As noted in the Babylon Bee, Republicans colluded with Reality to defeat the Green Nude Eel. The vote was 0-57. All of the Republicans voted against it, as did three Democrats and one Independent. All the other Democrats and the other Independent voted “present.” That included the bill’s sponsor and all its cosponsors. It included all the senators who had endorsed the Green Nude Eel in connection with their candidacies for the party’s 2020 presidential nomination.

These remarks by Senator Lee (R-UT) are a fair summary of the Republican objections to the bill.

The Second Law of Thermodynamics was available for comment and noted, “There ain’t no such thing as a free lunch.”

Green Nude Eels and Old New Eels


James P. Pinkerton has a post over at The American Conservative about how the Democrats’ lack of imagination has forced them to recycle failed ideas from FDR’s administration. In addition to court packing, various Democrats are pushing a Green New Deal. Others are proposing a Universal Basic Income. And way too many Democrats seem to be behind higher taxes and so-called Modern Monetary Theory.

Yet Modern Monetary Theory might just as well be called Weimar Monetary Theory, as we recall, without affection, the German hyperinflation of 1921-23. Historians regard that monetary debacle, which wiped out Germany’s middle class, as one of that country’s stepping stones on the road to Nazism.

While many Progressives will refer to anyone opposing their proposals as a “nazi,” they seem to view being on a road to more state control as a feature not a bug. Stephen Green (he’s due a H/T for pointing me to the Pinkerton piece) has noted,

that the current push for ultra-high income taxes isn’t about collecting revenue, but about increasing control and creating new opportunities for graft.

Yep. American Progressivism has been about control from the late 19th century onward. Those early Progessives wanted to control the underclass and undesirables just as their great-great grandchildren want to control deplorables. Prohibition finally failed, but the mischief caused by the Harris Act (federal control of opium and coca) and its successors lives on. So does Planned Parenthood. So does …

As for graft, it’s not always about money. More often, it’s about power. Many supporters of the Progressive cause assume that they are members of the Party when, in fact, they are only useful proles, and many members of the Outer Party assume that they will be part of the Inner Party one day. Both groups will be shocked when their chocolate ration is raised from 30 grams to 20 grams along with the rest of us.

Paying for a Green Nude Eel


All we have to do is adopt the magic of so-called New Monetary Theory which states that a government that borrows in its own currency doesn’t need to worry about debt because it can print money to pay the debt. If the Green Nude Eel is only going to cost around 90 trillion bucks and we use one of these, we should have change coming.

Of course, that’s not how money works. Things didn’t work out well for Rome when it debased its money, and over the last century, we’ve seen what happened in the Weimar Republic and Zimbabwe and, currently, Venezuela. As John Hinderacker points out in a post at PowerLine, Modern Monetary Theory is universally regarded by economists as a crackpot idea.

So it’s unanimous: Modern Monetary Theory, the Democratic Party’s latest ticket to the promised land, is a fraud. And not a modern one, either.

Speaking of socialism…I heard an observation yesterday, in the context of Venezuela, that was striking and true. If I could remember who said it, I would credit him. Here it is:

You can vote your way into socialism, but you have to shoot your way out.

Another reason why we need the Second Amendment.

As Ben Franklin said when asked what kind of government was being formed at the Constitutional Convention, “A republic if you can keep it.”

There’s Good News, and There’s Bad News


The Foundation for Economic Education has a post up explaining how the rich could pay for that list of Progressive freebies: $47 billion on free college tuition; $1 trillion for new infrastructure; $1.4 trillion to write off student loan debt; at least $7 trillion on a Green New Deal; $32 trillion on “Medicare for All.” We can simply adopt tax schemes similar to those used in countries such as France, Denmark, Sweden, and Finland.

If Rep. Ocasio-Cortez and Sen. Warren want the federal government to collect European shares of national income, they will have to adopt European tax systems. That means higher income taxes on the middle class, higher payroll taxes, and higher consumption taxes. According to the Congressional Budget Office, raising $32 trillion in tax revenue would require adding 36 percentage points to the marginal tax rate of every federal income taxpayer in the United States. Not just the rich—everyone. The single woman earning $82,500 and the couple earning $165,000 would see their rates soar from 24 percent to 60 percent.

To borrow from P. J. O’Rourke, the good news is that the rich will pay for everything. The bad news is that you’re rich.

Finland collects about 43 percent of GDP in taxes, and that isn’t enough. Fuzzy Slippers reports at Legal Insurrection that Finland’s government has collapsed because of the cost of universal health care: #Bernie2020 hardest hit.

Finland has long been touted by American socialists as the socialist Nirvana, where everything is free and everyone is happy, happy, happy.  Sadly, fiscal reality hit Finland’s government as it collapsed Friday due to the rising costs of its universal health care.

The warning signs were on the wall last spring when Finland … ended its experiment with “universal basic income.”

Bernie Sanders (I-VT), who has been hanging his socialist mantle on the “success” of Finland’s socialist structure, may be the hardest hit.

There ain’t no such thing as a free lunch.