No, endless subsidies do not make healthcare or anything else more affordable

If the government were to subsidize Ferraris for a year, that doesn’t mean the cost of a Ferrari will go up when the subsidies expire.  It means the amount of money given to you to purchase a Ferrari went down. If there is a healthcare deal to be had, it cannot simply be to expand… Continue reading No, endless subsidies do not make healthcare or anything else more affordable

Trump’s stake in Intel and the free market fantasy

“I don’t care if it’s a dollar or a billion-dollar stake,” Republican Senator Thom Tillis protested. “That starts feeling like a semi state-owned enterprise à la CCCP,” he added, referring to the old acronym for the USSR.  “I don’t believe the U.S. government should be picking winners and losers.”  President Donald Trump’s almost unprecedented decision… Continue reading Trump’s stake in Intel and the free market fantasy

A Ferrari in every driveway and a Rolex on every wrist

In the real world, everyone instinctively knows this is impossible, that you cannot subsidize your way to rich, all while embracing the Toyota and Timex equivalent.  Why?  To the extent Vice President Kamala Harris has an economic policy, it can perhaps best be summarized as a continuation of President Joe Biden’s subsidize everything approach, where… Continue reading A Ferrari in every driveway and a Rolex on every wrist

When at first you don’t succeed, mandate it by executive fiat

“The Biden administration is banking on the old ‘if you build it they will come’ approach to cudgel the auto industry away from gas-burning cars. It also seems to recognize a giant problem at the heart of the long-awaited EV revolution: Americans don’t really want them.” In other words, they will force you to comply,… Continue reading When at first you don’t succeed, mandate it by executive fiat

Biden’s Trickle Down 2.0

The President touted an economic record at the State of the Union address that largely consists of subsidies and contracts paid directly to many of the same large companies he frequently rails against.  These companies will make huge profits and pay executives big money, making it a new incarnation of the much maligned “trickle down”… Continue reading Biden’s Trickle Down 2.0

Joe Biden is President George Costanza, every instinct he has is wrong

President Biden and the Democrats are poised to pass the poorly named Inflation Reduction Act to much fanfare in the mainstream media, but once upon a time even President Barack Obama knew the last thing you wanted to do was increase taxes in the middle of a recession.  This is Biden’s fourth round of stimulus… Continue reading Joe Biden is President George Costanza, every instinct he has is wrong