The advertised purpose of the “Endless Frontier Act” is to increase high tech competition with China. This, of course, is a goal that every American should be able to get behind. However, the advertised purpose of the bill, as laudable as it may be, is not actually what the bill will do. In other words, the “Endless Frontier Act” was sold under false pretenses and using fabricated promises.
If the Senate were serious about helping America win the high tech competition with China, it would do a number of important things, including, but not limited to: (1) protect our nation’s intellectual property from theft and abuse by the Chinese; (2) make our tax code more competitive; (3) allow research and development costs to be deducted more easily thus encouraging capital investment in high tech solutions; (4) review and reform our regulatory regime that in many cases is outdated and hindering the development of new technologies and making us less competitive.
But the Senate isn’t considering any of that. Instead, their so-called plan is to spend about $110 billion in taxpayer dollars via government grants to promote new technologies to be administered by the National Science Foundation. In other words, a government agency with a horrific record of waste, fraud and abuse is going to decide what technologies look most promising and then hand out taxpayer dollars to give them a boost. This sounds like the Solyndra scandal on steroids.
So in an era when our national debt has been rapidly increasing at unsustainable rates, we are going to borrow even more money from China and become even more indebted to China — all for the purpose of being more competitive with China. Let that sink in.
But the problem doesn’t end there. The truth is the National Science Foundation (NSF) has a horrible record of waste. The NSF has funded a project to develop a robot that could fold a towel in 25 minutes. A child could fold a whole load of towels in 25 minutes, but for this stupidity you paid $1.5 million. They’ve funded studies of shrimp running on a miniature treadmill. That wasted $500,000 of your hard earned dollars. They’ve spent millions studying what motivates individuals to make political donations. They’ve spent millions studying if athlete’s perception that the basketball rim is as large as a hula-hoop, or that a baseball is as large as a grapefruit, or a golf hole appeared as big as a manhole cover impacts the athlete’s performance.
As Senator Rand Paul (R-KY) highlighted on the floor of the Senate, the NSF spent $700,000 that had been allotted to study autism to listen to a tape of Neil Armstrong’s first moon walk. They wanted to determine if he said “one small step for man …” or “one small step for a man …” It took them a year and $700,000 of your money to determine that they couldn’t tell. And that was money that was supposed to be spent on autism. The NSF also spent half a million dollars developing a climate change themed video game to help children feel more alarmed.
Government is inherently wasteful. For example, our government spent over $40 million building a natural gas station to refuel cars that run on natural gas in Afghanistan to help them reduce their carbon footprint. Yet Afghanistan is a nation where the annual income is about $800 and often cook their food on open fires, and few drive any sort of car, much less a natural gas powered car. Any high schooler could have told you that building a natural gas station in a nation that doesn’t have many cars is a dumb idea.
Government has funded studying whether you and I are more or less likely to eat food that has been sneezed or coughed on by someone else. You and I could answer that question for free. We’d prefer food that hasn’t been sneezed on — even before the pandemic. But government bureaucrats spent $2 million to get the same answer.
So now we are going to rely on these same government bureaucrats to make sure we compete in the high tech arena with the Chinese and we will borrow the money that these bureaucrats decide to spend from the Chinese. What could possibly go wrong?!
I have grown to expect liberals to gladly fund such utter foolishness from our paychecks. But it isn’t just them, there were 19 Republicans who voted for this insanity: Blunt (MO), Capito (WV), Collins (ME), Cornyn (TX), Crapo (ID), Daines (MT), Graham (SC), Grassley (IA), McConnell (KY), Murkowski (AL), Portman (OH), Risch (ID), Romney (UT), Rounds (SD), Sasse (NE), Sullivan (AK), Tillis (NC), Wicker (MS), and Young (IN).
Those who voted for this bill will undoubtedly defend their vote telling you that they want America to compete and win against China in the high tech arena. We all would like that! But let’s try something novel. Let’s do things that would actually help our innovators innovate; and help our businesses and industries compete and win. Also let’s not put a wasteful and often silly government agency in charge of the program. Instead, let’s unleash America’s entrepreneurial and innovative spirit. And let’s not borrow the money from the very nation we claim to be trying to out compete.
For a variety of reasons, the U.S.-China rapport established by Richard Nixon has cooled considerably over the past few years. Some experts believe a return to what seemed to be a mutually beneficial status quo is possible once the Trump-era trade war comes to an end.
That’s a fantasy. The relationship between the two superpowers has been on the decline for some time, largely due to unfair trade practices on the part of the Chinese. They do not play fair and no amount of waiting on the part of the U.S. will cause them to change their stripes.
China makes billions by forcing U.S. companies to turn over valuable intellectual property in exchange for entry to its markets. Refusal to cooperate cuts off access to more than a billion potential customers. If America’s leaders aren’t demanding a change, a demand backed up with action, then what incentive is there for Beijing to change its policy?
Most American businesses have been advised by policymakers to wait. They’re stuck, hoping for relief — from international trade organizations to which the Chinese belong (thanks to the U.S. insisting they be admitted) or from U.S. politicians. Nothing will happen unless the pressure on Beijing is maintained.
When President Donald Trump talked about bad trade deals, he usually didn’t mention the World Trade Organization, the U.S. International Trade Commission, and the other multi-national and U.S. governmental bodies that are supposed to referee disputes. Maybe he should have, so that what these organizations accomplish – or more importantly fail to accomplish – will get the scrutiny needed.
Changes must occur. The ITC, for example, continues to show itself to be toothless. It’s failed to be tough on the non-practicing business entities known as “patent trolls” that exist almost solely to make the potentially lucrative charge that deep-pocketed entities have infringed on intellectual property rights so how can we expect tough action from them against China.
Patent trolls are a serious problem and a danger to economic growth and to consumers. They hinder innovation and can force higher prices on consumer technology and other goods now considered critical to life in the 21st century. Yet the ITC refuses to crack down on them, leaving China well-positioned to benefit from the mess they cause.
The commission is currently considering claims lodged by the Irish patent troll Neodron that its patents were infringed upon by major global tech companies including Apple, Microsoft, and Dell. It wants the ITC to grant an exclusion order baring these companies from selling all their major touchscreen mobile devices in the U.S. market.
What’s happening has been likened by some to extortion, with the productive companies being pressured to pay the complaining troll off rather than leave things to the ITC to decide.
Imagine if the ITC decides the issue in Neodron’s favor. The cost of smartphones, tablets, computers, and other devices covered by its order would immediately skyrocket to provide the rents Neodron is demanding. According to some estimates, nearly 90% of smartphones and tablets currently available in the U.S. market would disappear, be replaced by devices from China. The range consumers have when choosing a device would be narrowed while the prices for what they could buy would rise.
China already has a clear lead in developing and deploying 5G wireless devices. Given the critical technology race between the U.S. and China over who will dominate in 5G, how can a U.S. agency even consider a litigation outcome that forces U.S. consumers to buy their 5G devices (as well as their other touchscreen devices) only from China?
Tensions between the world’s two largest economies are already heightened, in part because the U.S. accused China of sponsoring criminal hackers trying to gain access to private data from biotech firms around the world working on coronavirus vaccines and treatments. The FBI said the Chinese government was acting like “an organized criminal syndicate.”
Neodron’s complaint to the ITC places the proverbial thumb on the scale for the Chinese and the technology they manufacture. If they win it would devastate the U.S. tech sector while helping Chinese tech companies gain a greater share of the global market, probably permanently. Like all patent trolls, Neodron’s claim cannot justify this kind of disproportionate and devastating result.
The ITC doesn’t have to go along with this. They can institute policy revisions that will thwart the efforts of Neodron and other patent trolls like them to use the ITC for monetary gain. Those changes should be made now before any more damage is done. There are bigger fish to fry.
The coronavirus has wreaked havoc on Americans’ health as well as the health of our economy over the past several months. The real estate industry is certainly no exception. Due to challenges and unpredictability ahead, combined with record unemployment and cost-cutting layoffs, many Americans have put their plans to purchase a home on hold.
At the pandemic’s onset, new home sale listings dropped by as much as 70 percent in some markets but the April numbers suggested some recovery was underway. Web traffic to real estate portals like Zillow plunged by almost 40 percent. Further, nearly 4 million homeowners are in the midst of forbearance plans – delaying payments on their mortgages – making up almost 8 percent of all mortgages.
While challenges presented by the coronavirus introduce uncertainty, a competitive real estate market and an environment that rewards fair competition and promotes collaboration within the industry will help foster a faster recovery.
Today, key industry partnerships and collaborations between mortgage service providers or banks, fintech and realtech developers offer products and services that bridge the gap between the huge swaths of available data and informed consumer decision-making. These innovations empower home buyers or sellers to make more informed decisions, at a time when few can afford to spend more or sell for less than they should based on constantly fluctuating home markets. A prime example is how Amrock, one of the nation’s leading title insurance, property valuations, and settlement services providers, has focused on developing innovative solutions, such as their eClosing platform, to improve the real estate experience for all parties involved. Because of the rapidly evolving and highly dynamic nature of the industry, partnerships have become key to finding innovative ways to use data to provide the best product for consumers.
Regrettably, such ingenuity and the necessary B2B collaboration faces challenges that predate the current pandemic raddled housing markets. The real estate industry and those who rely on it all pay the price for the increasing onslaught of litigation abuses by the hands of legal profiteers seeking to exploit our courts and our industries for financial gain.
Fortunately, on June 3, the Texas 4th Court of Appeals issued a decision offering hope that the trend of increasing abusive litigation, particularly that within the real estate industry, may not be so inevitable.
This ruling marks a milestone for homeowners who pay title insurance, which protects both real estate owners and lenders against loss or damage occurring from liens (mortgage loans, home equity lines of credit, easements), encumbrances, or defects in the title or actual ownership of a property. Critically, title insurance offers buyers and sellers the assurance they need to buy, sell, and reinvest, all critical components of a recovery.
The Texas 4th Court of Appeals follows a March 2018 decision by a Bexar County, TX, jury who awarded HouseCanary, a software developer, nearly three-quarters of a billion dollars after mistakenly believing Amrock allegedly stole their trade secrets. In truth, Amrock had hired HouseCanary on a $5 million contract to develop an automated valuation model (AVM) mobile application for use by appraisers in the field – a key development in streamlining the real estate buying/selling process. AVMs are formulas that are used to appraise real estate property based on key variables like historical price data, tax assessments, sales history and past lending transactions. However, after HouseCanary had failed to deliver a functional application after more than a year and no clear progress, Amrock sued for breach of contract, and built their own AVM for appraiser use.
The facts of that case – and the weakening standard of what makes up a trade secret – painted a distressing picture for the future of American innovation.
In an effort to cover their inability to develop the application they were hired to produce, HouseCanary countersued – alleging Amrock had stolen their trade secrets and used proprietary information in the development of their own AVM. After ignoring key facts and employing several faulty legal arguments and highly questionable calculations, HouseCanary was able to convince the jury that Amrock had misappropriated their trade secrets – and that such information was valued at $235 million dollars – more than 100 times HouseCanary’s total revenues for all product sales during the period in question.
Beside the fact that the ruling was 150 times the value of the initial $5 million contract, there is another piece of fundamental misinformation the entire ruling hinges on: HouseCanary had no trade secrets or any proprietary information – hence their inability to produce the mobile AVM application Amrock contracted them to create.
This was confirmed by four HouseCanary executives-turned-whistleblowers, who, alarmed by the massive damages figure, testified that “there was never a working version of the App,” and that HouseCanary had deceived Amrock by “representing that the App was more functional than it actually was.” In a then-anonymous email to Amrock CEO Jeff Eisenshtadt, former HouseCanary Director of Appraiser Experience Anthony Roveda wrote “housecanary never had any proprietary anything…”
The original 2018 decision, as it stood before June 3, established a dangerous precedent for the future regarding what was classified as protectable “trade secrets,” which deterred innovation and the partnerships needed to provide the best product for consumers.
As the nation emerges from the coronavirus pandemic, the government – from policymakers to judges – have a duty to provide stability, create meaningful policy, uphold our justice system, and provide clarity where needed. The Texas appeals court decision to overturn Amrock v. HouseCanary sent a loud and clear message that this kind of frivolous litigation has no place in our courts – providing a reassuring and much-needed signal to innovators and developers that collaboration remains welcome here in the United States.
President Trump has signed an executive order that aims to tackle U.S. prescription drug spending, but won’t implement it until the public, including private sector drug makers, can comment.
The order pegs the prices of certain drugs covered by Medicare to the lower prices paid in other developed countries, whose governments impose strict price controls.
The order might save the federal government some money — at least temporarily — but at great expense to patients and long-term scientific progress.
History shows that adopting government price-setting inevitably stifles medical innovation and reduces patients’ access to lifesaving drugs. This move is particularly dangerous and baffling in the middle of a pandemic.
Trump is well-intentioned. But when it comes to healthcare policy, it’s not the thought that counts. Americans can only hope the president rescinds this order, which will have harmful long-term effects.
Right now, Medicare pays 80 percent more for drugs than government health insurers in other developed countries, such as the United Kingdom and Japan. So, the administration wants to tie Medicare reimbursements to the significantly lower prices in those countries.
It’s no accident that drugs are cheaper abroad. Many foreign nations have heavily socialized healthcare systems that regulate drug prices. If pharmaceutical companies don’t accept pitifully low reimbursement rates, foreign government officials simply ban firms from selling their medicines at all.
Pegging Medicare reimbursements to those artificially suppressed prices would, in effect, impose price controls here. That might have some superficial appeal — after all, who doesn’t like the idea of cheaper drugs — but price control schemes never end well.
Government price-setting invariably restricts patients’ access to novel therapies. Right now, 96 percent of all new cancer medicines invented worldwide between 2011 and 2018 are available in America. That’s because our country has a relatively free-market drug pricing system that gives firms a chance to earn back their research and development costs.
Contrast that with the United Kingdom and Japan, where patients have access to just 71 percent and 50 percent of those cancer drugs, respectively. In these countries, drug companies stand little chance at recouping their R&D costs and earning a profit on many drugs. So, they often stay away.
Even if drug companies do enter those markets, foreign patients often wait months — or years — to receive new drugs. While Americans typically have immediate access to breakthrough cancer therapies, patients in Japan wait 23 months, on average, after a drug’s initial launch before gaining access.
Imagine if the 44 million Americans on Medicare — 15 percent of the U.S. population — had to wait an extra year and a half before they could take a new immunotherapy. That horrific consequence explains why, in this case, most congressional Republicans don’t back the president on his executive order.
The administration’s plan would also decimate medical innovation. It takes several billion dollars and over a decade to create just one new drug. The existing pricing system incentivizes companies to make those research investments — and the results have been nothing short of miraculous. Cancer death rates have plummeted more than 25 percent over the last quarter-century, mostly thanks to new treatments.
In fact, in 2019, American life expectancy increased for the first time in four years. One of the key causes was better cancer treatments.
I applaud Trump’s effort to reduce drug prices. But there are ways to do so without bringing foreign price-setting to our shores.
He already got one way right. In the same ceremony, Trump signed another executive order to target middlemen in the drug supply chain called pharmacy benefit managers. These negotiators set the prices for drugs that end up on insurers’ list of covered treatments and on the shelves of local pharmacies.
The instinct to reform the practices of PBMs was spot on. PBMs receive significant rebates from manufacturers for adding a drug to an insurer’s formulary. But they don’t disclose those rebates or use them to lower patients’ costs at the pharmacy counter.
Requiring them to pass along savings directly at the point of sale will help achieve the president’s desired reduction in drug prices without costing Americans access to lifesaving cures.
Additionally, the administration could stop the unfair trade practice of banning an American medicine unless it’s sold at an artificially low price. That would stop developed countries from benefiting off the backs of American taxpayers, who foot the bill for new drug development.
Government price-setting would snuff out future medical breakthroughs while limiting patients’ access to existing drugs. The savings aren’t worth the cost in American lives. Let’s hope the administration decides to reverse course on its new executive order.
Technologies such as the Electromagnetic Launch System (EMALS) support the U.S. military
With the nation’s attention largely focused on the coronavirus, less noticed are threats to our national safety and security that are both long-running and evolving throughout the world — on land, sea, air, and increasingly in cyber and outer space. Losing sight of these threats would be a grave mistake.
Now more than ever, our nation’s leaders must double down on strengthening our military and embracing innovation to protect America and project power when necessary in an unstable, dangerous world. To do so effectively, it is critical that we invest in and equip our men and women in uniform with the most technologically advanced tools and weapons of war available.
Make no mistake, global competitors like China and Russia and rogue states like Iran and North Korea are working diligently to enhance their military capabilities in the hopes of eroding America’s competitive edge.
Fortunately, President Trump has made re-establishing our military strength and global position in the world a national priority after years of neglect during the Obama administration. He has insisted that while the Department of Defense pursues and invests in next-generation technologies, it must do so with taxpayers’ money in mind. And with a defense-wide review underway, expect even more fiscally-minded reforms to materialize over the next several years.
For example, the Ford-class aircraft carriers currently under production are poised to significantly expand our military capabilities, improve the quality of onboard life for our deployed sailors — and exploit the benefits of cutting-edge technologies. The USS Gerald R. Ford (CVN-78), the first of the Ford-class, returned to sea in January and has now completed aircraft compatibility testing, flight deck certification, and other critical milestones in making the carrier battle-ready.
Mr. Trump has paid keen attention to these new carriers — and he has continuously addressed costs associated with their production. In fact, earlier this year, the Trump administration doubled down on its commitment to the Ford-class by convening the “Make Ford Ready” summit to ensure CVN-78 meets its cost targets moving forward.
These modern carriers are equipped with the latest technologies that ensure our troops will be able to protect our nation at a moment’s notice, whether in the Strait of Hormuz or the South China Sea. They are faster, more lethal, more durable and more technologically advanced than any other carrier ever put to sea by any country. And one key advantage which will improve performance, save money and protect American lives (or take the enemy’s when needed) is the carrier’s electromagnetic launch system technology, which was conceived, developed and produced here in the U.S.
The Electromagnetic Aircraft Launch System — EMALS — had its initial skeptics, Mr. Trump among them. But its subsequent performance has spoken for itself. Because the system replaces old, steam-based catapult systems developed in the 1950s, the carriers are able to launch the full complement of planes in the Navy’s air wing. This includes the critically important lightweight and heavyweight drones that are increasingly being used in reconnaissance and battlefield operations. And unlike incumbent catapult systems, EMALS is designed to accommodate future aircraft that come into production in the years ahead.
By replacing the complex and large system of steam pipes on the carriers, this new catapult system delivers a 25 percent reduction in the number of crew members needed to operate and maintain the system. The Navy has estimated this will amount to almost $4 billion in savings from operating costs over the ship’s expected 50-year lifespan. And in line with Mr. Trump’s commitment to establishing greater cost discipline for large DOD contracts, more cost savings have been realized through the negotiation of multiple ship production contracts for EMALS.
The second and third Ford-class carriers are already seeing 16 percent to 27 percent production cost savings respectively. Manufacturing, supply chains, production schedules and jobs are becoming stabilized. As the current crisis has put in stark relief, reliable supply chains are critical, and negotiated, multi-carrier contract buys ensure the stability of U.S. jobs and equipment. For taxpayers, this means significant cost savings without compromising our ability to deliver the most modern equipment available to support our warfighters.
Predictably, however, our competitors are now racing to develop similar technologies. For example, China has reportedly commissioned its own electromagnetic catapult system for its aircraft carriers to allow them to launch more advanced planes and other weaponry. Yet, with America’s new carrier class moving further into subsequent production phases, and our allies wanting to benefit from U.S. military innovations like EMALS, we now have a huge advantage that the United States can and should fully embrace to ensure our military supremacy. Any global competitor seeking similar technologies with ill intent will not go unchecked.
These types of cutting-edge and innovative investments are critical in rebuilding our nation’s military. They also are firmly aligned with Mr. Trump’s commitment to ensure that our military professionals receive far more technology at less long-term cost to taxpayers. Our nation cannot afford to fall behind.
ATR today released a coalition letter signed by 70 groups and activists in opposition to the Pelosi drug pricing proposal to create a 95 percent tax on pharmaceutical manufacturers.
As noted in the letter, this bill calls for a retroactive tax on sales that is imposed in addition to existing against income taxes:
Under Speaker Pelosi’s plan, pharmaceutical manufacturers would face a retroactive tax of up to 95 percent on the total sales of a drug (not net profits). This means that a manufacturer selling a medicine for $100 will owe $95 in tax for every product sold with no allowance for the costs incurred.
The tax is used to enforce price controls on medicines that will crush innovation and distort the existing supply chain as the signers note:
“The alternative to paying this tax is for the companies to submit to strict government price controls on the medicines they produce. While the Pelosi bill claims this is “negotiation,” the plan is more akin to theft.”
This proposal will create significant harm to American innovation to the detriment of jobs, wages, and patients, as the letter notes:
”[The Pelosi] proposal would crush the pharmaceutical industry, deter innovation, and dramatically reduce the ability of patients to access life-saving medicines.
The full letter is found here and is below:
Dear Members of Congress:
We write in opposition to the prescription drug pricing bill offered by House Speaker Nancy Pelosi that would impose an excise tax of up to a 95 percent on hundreds of prescription medicines.
In addition to this new tax, the bill imposes new government price controls that would decimate innovation and distort supply, leading to the same lack of access to the newest and best drugs for patients in other countries that impose these price controls.
Under Speaker Pelosi’s plan, pharmaceutical manufacturers would face a retroactive tax of up to 95 percent on the total sales of a drug (not net profits). This means that a manufacturer selling a medicine for $100 will owe $95 in tax for every product sold with no allowance for the costs incurred. No deductions would be allowed, and it would be imposed on manufacturers in addition to federal and state income taxes they must pay.
The alternative to paying this tax is for the companies to submit to strict government price controls on the medicines they produce. While the Pelosi bill claims this is “negotiation,” the plan is more akin to theft.
If this tax hike plan were signed into law, it would cripple the ability of manufacturers to operate and develop new medicines.
It is clear that the Pelosi plan does not represent a good faith attempt to lower drug prices. Rather, it is a proposal that would crush the pharmaceutical industry, deter innovation, and dramatically reduce the ability of patients to access life-saving medicines.
We urge you to oppose the Pelosi plan that would impose price controls and a 95 percent medicine tax on the companies that develop and produce these medicines.
President, Americans For Tax Reform
James L. Martin
Founder/Chairman, 60 Plus Association
Saulius “Saul” Anuzis
President, 60 Plus Association
Chair, Alabama Center Right Coalition
President, AMAC Action
President, American Business Defense Council
President, American Commitment
Executive Director, American Conservative Union
President/CEO, The American Consumer Institute Center for Citizen Research
Lisa B. Nelson
CEO, American Legislative Exchange Council
Vice President of Policy, ALEC Action
President, Americans for a Balanced Budget
President, Americans for a Strong Economy
President, Campaign for Liberty
President, Center for a Free Economy
Andrew F. Quinlan
President, Center for Freedom & Prosperity
President, Center for Individual Freedom
Executive Director, Center for Innovation and Free Enterprise
Peter J. Pitts
President, Center for Medicine in the Public Interest
Senior Fellow, Center for Worker Freedom
President, Citizen Outreach
President, Club for Growth
President, The Committee for Justice
Vice President, Competitive Enterprise Institute
Executive Director, Conservatives for Property Rights
President, Consumer Action for a Strong Economy
Fred Cyrus Roeder
Managing Director, Consumer Choice Center
President, Council for Citizens Against Government Waste
Executive Director, Digital Liberty
Co-Chair, Florida Center Right Coalition
President, Frontiers of Freedom
President, Galen Institute
Director of Healthcare Policy, Goldwater Institute
The Honorable Frank Lasee
President, The Heartland Institute
Vice President, Heritage Action for America
Rodolfo E. Milani
Trustee, Hispanic American Center for Economic Research
Founder, Miami Freedom Forum
Mario H. Lopez
President, Hispanic Leadership Fund
President, Independent Women’s Forum
Heather R. Higgins
CEO, Independent Women’s Voice
Resident Scholar, Institute for Policy Innovation
President, Iowans for Tax Relief
Vice President of Policy, The James Madison Institute
The Honorable Paul R LePage
Governor of Maine 2011-2019
President, Less Government
Director, Lone Star Policy Institute
Chair, Maine Center Right Coalition
CEO, The Maine Heritage Policy Center
President, Maine State Chapter – Parents Involved in Education
President, Market Institute
Jameson Taylor, Ph.D.
Vice President for Policy, Mississippi Center for Public Policy
The Honorable Tim Jones
Leader, Missouri Center-Right Coalition
CEO, Montana Policy Institute
President, National Taxpayers Union
The Honorable Bill O’Brien
The Honorable Stephen Stepanek
Co-chairs, New Hampshire Center Right Coalition
The Honorable Beth A. O’Connor
Maine House of Representatives
The Honorable Niraj J. Antani
Ohio State Representative
Executive Director, Ohioans for Tax Reform
Honorable Jeff Kropf
Executive Director, Oregon Capitol Watch Foundation
CEO, Pelican Institute for Public Policy
Executive Director, Property Rights Alliance
President, Rio Grande Foundation
James L. Setterlund
Executive Director, Shareholder Advocacy Forum
President and CEO, Small Business Entrepreneurship Council
David Miller & Brian Shrive
Chairs, Southwest Ohio Center-right Coalition
Executive Director, Taxpayers Protection Alliance
President, Tea Party Nation
Director, Right on Healthcare – Texas Public Policy Foundation
President, Trade Alliance to Promote Prosperity
Executive Director, Wyoming Liberty Group
by Peter Roff • Independent Journal Opinion
Throughout his career, Vermont’s Bernie Sanders has championed postal reform. He wants to save the United States Postal Service and its hundreds of thousands of public employee union jobs, by broadening the scope of its activities.
It’s an interesting idea, which is probably why the American Postal Workers Union was an early presidential endorser, and a bad one. Allowing the USPS to transact non-bank financial services opens the door to competition in areas private business has shown it can handle quite competently, thank you very much.
It’s inevitable a full range of banking services would eventually follow, free of the encumbrance of the onerous Dodd-Frank requirements and the overly invasive Consumer Financial Protection Board the massive new banking law spawned. The idea is already out there. More than one policy wonk has hit on it as to provide services to what folks have taken to calling the under-banked. Continue reading
By Rich Lowry • RealClearPolitics
The ride-sharing service is synonymous with the new efficiency and convenience enabled by information technology, and is anathema to regulators and entrenched interests everywhere. Add to the list of its critics the presumptive Democratic presidential nominee.
Hillary Clinton didn’t mention Uber by name but warned about the disruption caused by it and other companies in the so-called sharing economy. Her husband wanted to build a bridge to the 21st century; Hillary worries about the downsides of “advances in technology and expanding global trade.” Continue reading
by George Landrith • Breitbart
Trial lawyers trying to hold parts of the legal system hostage to make money is nothing new. It always happens the same way: a few creative lawyers figure out how to exploit legal loopholes; then abuse those loopholes to enrich themselves at others’ expense until someone stops them. Along the way, they come up with all sorts of creative justifications for what they are doing, claiming it’s actually positive and beneficial. Behind the scenes, they convince or pay off special interests to lobby for delays in changing the law that would close their loopholes and stop the cash flow.
Fortunately, conservative Members of Congress and state legislators can usually be counted on to lead the charge to dismantle the trial lawyers’ schemes. One of the last great examples was the passage of the Private Securities Litigation Reform Act (PSLRA) 20 years ago, over the objections of the lawyers and a Democratic president’s veto. That law reined in the frivolous securities litigation that was doing nothing but lining lawyers’ pockets. Today, this has been replaced by a new threat. Continue reading
Frontiers of Freedom is a strong supporter of property rights (including intellectual property rights). Property rights encourage individuals and businesses to innovate and invest in new ideas and technologies. We all win when property rights are respected. So where can you find your favorite movies and shows online and be sure that they are not illegal pirated copies?
The Motion Picture Association of America has launched a new search engine called “Where To Watch” (WhereToWatch.com). This new tool gives consumers a free, simple, and comprehensive way to search every known legitimate platform for movies and TV shows. No more searching 35 different places to find what you’re looking for. It is all at one simple-to-use website. And its free. We encourage everyone to use this tool. Not only will you protect yourself from unsavory and illegal websites that plant viruses on your computer and invade your privacy, but you’ll be supporting and encouraging your favorite artists, actors and film studios to continue making the entertainment that you love. Continue reading
Ride-share services benefit consumers, but the taxi commission doesn’t want to give us a good deal.
The regulatory knives are out for Uber and Lyft, two ride-sharing services that make life easier for consumers and provide employment opportunities in a stagnant economy. Why are regulators unhappy? Basically, because these new services offer insufficient opportunity for graft.
Services like Uber and Lyft disrupt the current regulatory environment. I have the Uber app on my phone. If I need a car in areas where Uber operates, it looks up where I am using GPS, matches me with participating drivers nearby, and in my experience gets me a Town Car in just a few minutes. It’s the comfort of a limo service, with the convenience of a taxicab. I get a better service, the driver gets a job, but now there’s competition for those entrenched companies. Continue reading
And why individual creators of content are now having such a difficult time protecting their work-product.
This video of recording artist Maria Schneider testifying before Congress explaining how difficult it is to protect her work and the real costs of piracy is compelling.
One of the most important parts of the Constitution is one of the least recognized. While American’s appreciate the importance of free speech and free elections, few realize that America may well have become the world’s unmatched economic superpower because the Founders wisely authorized Congress to protect intellectual property rights. This, in turn, provided the incentive to innovate and create. Continue reading