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Raymond Richman, 10/8/2016

Today’s date 10/8/2016

From web site, www.zerohedge.com. "Everything You Hear About Aleppo Is Wrong" by Tyler Durden. "The United States, on the other hand, continues to play a dangerous game in pushing this war further than it needCommentss to. The United States-led coalition has no legal basis to be operating militarily in Syria, whether through their own domestic legislative institutions or through the United Nations. Russian assistance was requested formally by the Assad regime, which currently holds the seat at the U.N. This gives the Russian campaign an air of legitimacy whether or not it is immoral.

Yet the United States continues to give itself a special privilege (which only Israel can rival) by insisting the U.S. military has the right to defend itself against Russian anti-missile defense systems within Syrian territory. Yet, they argue, the Syrian regime does not have the right to defend itself against multiple ground and air invasions within their own country. (Bold type is in the original article.)

From Pittsburgh Trib-Review. In an opinion piece entitled "Discrimination & Free Markets", Prof. Walter Williams of George Mason University writes that Government intervention in South Africa maintained economic and social discrimination against blacks until Apartheid was ended. But it was not merely the ending of Apartheid that improved the status of blacks but adoption of some free market reforms. He writes, “in  free market settings one is apt to observe less racial discrimination because it is costly to both the discriminated and the discriminator.” And he writes, “From the 1860s into the 1960s, the majority of American states enforced segregation through the Jim Crow laws.” With the end of Jim Crow laws, discrimination against blacks was maintained by mostly market interfering measures such as the Davis-Bacon Act, minimum wage laws and occupational and business licensing regulations. Note: The Davis-Bacon Act and the minimum wage laws were initiated by Democratic Pres. FD Roosevelt under pressure from the then lily-white unions.

From Wall Street Journal. An article in the Business News section entitled, “Tax Credit Powers Wind-Farm Upgrades" reports that wind-farms are highly subsidized by the Production Tax Credit Act recently renewed by a Republican-controlled Congress at the behest of Pres. Obama, who believes that global warming is man-caused despite the fact that scientific studies show it to contribute to a fraction of it, one study estimating it at 15 percent.  Texas and California are the biggest wind energy states. The article recites, “In a report last year, the U.S. Government Accountability Office said the Treasury has forfeited more than $8 billion in revenue as a result of the tax credit And faulted Congress for repeatedly renewing the credit without requiring any agency to study its impact on renewable-energy development.”The article does not say so but the same is true of the hundreds of billions of dollars spent on subsidies to solar energy, subsidies to builders of hybrid motor vehicles, and to homeowners and businesses in expenditures to reduce electricity consumption. The Republican Congressmen and Senators should the described as RINOs, Republicans in name only)

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    Wikipedia:

  • [An] extensive argument for balanced trade, and a program to achieve balanced trade is presented in Trading Away Our Future, by Raymond Richman, Howard Richman and Jesse Richman. “A minimum standard for ensuring that trade does benefit all is that trade should be relatively in balance.” [Balanced Trade entry]

    Journal of Economic Literature:

  • [Trading Away Our Future] Examines the costs and benefits of U.S. trade and tax policies. Discusses why trade deficits matter; root of the trade deficit; the “ostrich” and “eagles” attitudes; how to balance trade; taxation of capital gains; the real estate tax; the corporate income tax; solving the low savings problem; how to protect one’s assets; and a program for a strong America....

    Atlantic Economic Journal:

  • In Trading Away Our Future   Richman ... advocates the immediate adoption of a set of public policy proposal designed to reduce the trade deficit and increase domestic savings.... the set of public policy proposals is a wake-up call... [February 17, 2009 review by T.H. Cate]