“the four most prominent politicians in the country (sorry, Tim Walz) agree: U.S. Steel, a private company, should not be allowed to conduct a transaction with another private company unless the federal government agrees.
This is absurd—particularly because the deal is obviously in the best interest of U.S. Steel.
“We’ll admit that the competition for the dumbest economic policy is fierce these days—with prices controls on food, a 10% across-the-board tariff, and national rent control on the table,” opined The Wall Street Journal’s editorial board this week. “But opposition to the Nippon deal deserves careful consideration for this distinct dishonor given the deal’s manifest benefits and nonexistent harm.”
Indeed, Nippon’s plan to buy U.S. Steel gives the legacy steelmaker something that Trump’s tariffs and Biden’s blather about blue-collar jobs never could: A chance to actually become more competitive in the global marketplace. Among other things, Nippon has promised to invest $2.7 billion in revamping U.S. Steel’s plants.”
“Permitting reform isn’t just bureaucratic minutiae; it’s a critical, deeply moral issue for anyone who believes in free markets, individual liberty, and economic progress. Our permitting regime is a web of red tape that stifles innovation, slows growth, and leaves Americans poorer, less free, and increasingly frustrated with a government more interested in regulating than enabling prosperity.
This isn’t some esoteric topic for policy wonks; it’s about the real, tangible effects of overregulation on Americans’ daily lives. Housing costs, job availability, energy prices, and technological advancement all hinge on how our government handles permits. And right now, it’s failing miserably.
Take housing. Some areas like California and New York City face a crisis largely due to onerous permitting processes. Builders must navigate a Kafkaesque labyrinth of regulations just to break ground, assuming they are even allowed to build. These delays add years to construction and inflate costs by tens of thousands per unit.
This isn’t mere inconvenience; it’s a genuine disaster for middle- and low-income families priced out of the market. The American dream of homeownership is being strangled by red tape. Worse yet, Americans are priced out of lucrative labor markets because rents are so artificially inflated in job-rich cities.
But that’s just the beginning. Permitting processes are choking the energy sector. Important infrastructure—pipelines, wind farms, grid modernization—is being held up for years by endless environmental reviews, public comments, and lawsuits. Now, two judges have signaled to developers that permits which took years to obtain could be canceled on a whim if subjected to pressure from the climate activists.
This isn’t just bad policy; it’s economic sabotage resulting in higher prices, less reliable supply, and missed opportunities for cleaner, more efficient energy.
What about other infrastructure? Roads, bridges, and transit systems fail to get fixed when approval for repairs takes years or sometimes decades. An outdated, bloated process prioritizes procedure over results, making some projects obsolete before they begin. Meanwhile, the government wastes massive amounts of money on infrastructure subsidies when all we need is to allow people to build.
The free market thrives on innovation and speed, allowing swift responses to societal needs. The current system is its antithesis—slow, cumbersome, and designed to prevent change rather than facilitate it.
It’s not just harming businesses; it’s harming everyone. Imagine what we could achieve with reform: affordable housing, more jobs, lower energy prices, modernized infrastructure. We could unleash a new wave of American innovation and growth. Yet these reforms are repeatedly blocked by bureaucrats protecting their turf, politicians appeasing special interests, or activists who believe halting progress is virtuous.”
“For the 2023–24 school year, the average public school teacher salary was just under $70,000—well over the average for bachelor’s degree graduates ages 25 to 34 (though many teachers have master’s degrees).
West Virginia paid teachers the least, at around $52,000 per year, while California paid them the most, with an average salary of over $95,000. According to the National Education Association, teacher salaries top out at over $100,000 in 16.6 percent of districts. However, salaries have generally stagnated. From 2002 to 2020, inflation-adjusted teacher salaries declined by 0.6 percent while as per-pupil spending increased.
The reality is that teacher salaries vary widely between states and districts, especially when looking at pay adjusted for the cost of living, making it difficult to make generalizations. Adding to the murkiness, pay doesn’t seem to motivate teachers as much as many people think.
According to a December 2023 report from the National Center for Education Statistics, when public school teachers were asked why they decided to leave the profession, only 9.2 percent said it was because they needed higher pay.
A study from earlier this year also concluded that, among teachers who choose to leave their jobs, most don’t earn more in their new position.”
…
“”The biggest relative growth has been in ‘instructional aids’ who assist teachers in the classroom. While teachers were 53.4 percent of all public school system employees in 1990, they were only 47.5 percent in 2022. Aides rose from 8.8 percent of employees to 13.3 percent. It’s not clear why this occurred, but it could be teachers asking for help, regulations requiring more services for kids, or lots of other possible factors.””
“The Tax Foundation estimates that a 10 percent general tariff “would raise taxes on American consumers by more than $300 billion a year,” “reduce the size of the U.S. economy by 0.7 percent,” and “eliminate 505,000 full-time equivalent jobs.” Retaliation could “further reduce U.S. GDP by 0.4 percent and eliminate another 322,000 full-time equivalent jobs.”
Trump’s proposed tariffs, including a 60 percent levy on Chinese goods, “would reduce after-tax incomes by about 3.5 percent for those in the bottom half of the income distribution,” the Peterson Institute for International Economics estimates. They “would cost a typical household in the middle of the income distribution at least $1,700 in increased taxes each year.”
Just as Trump ignores those costs, Harris wants voters to believe that raising the corporate income tax rate from 21 percent to 28 percent is simply a matter of “ensur[ing] the wealthiest Americans and the largest corporations pay their fair share.” But that is true only if you overlook the broader economic impact of that change, which would hurt non-wealthy Americans as employees, consumers, and investors.
“Studies have shown that the corporate income tax is the most harmful tax for economic growth,” the Tax Foundation warns. On the flip side, recent research indicates that the Trump-backed 2017 reduction in this tax rate, which moved the U.S. from the high end among industrialized countries to the middle of the pack, “significantly boosted domestic investment.”
By raising the cost of doing business in the United States, a higher corporate tax rate inhibits investment, drives down wage and benefit growth, encourages offshoring of jobs, and reduces the return on retirement savings. “Under a 28 percent corporate rate,” the Tax Foundation estimates, “GDP would fall by $1.84” for “every $1 of higher revenue.””
“The signature policy proposal of Donald Trump’s third campaign for the presidency is a tariff: a tax of 60 percent imposed on all imports from China and 10 percent on imports from any other country. Not only does he want this tax hike, which would raise about $291 billion or 1 percent of GDP when fully implemented, but he says he’ll do it unilaterally. “I don’t need Congress, but they’ll approve it,” Trump declared at a September 23 rally. “I’ll have the right to impose them myself if they don’t.”
This is a rather enormous policy change for a president to undertake unilaterally, and one of dubious legality. For comparison, the hike Trump is considering is over twice as large as the tax increases used to fund Obamacare. (And make no mistake — tariffs are tax increases.) Experts like former World Trade Organization (WTO) deputy director-general Alan Wm. Wolff have argued that no law passed by Congress gives the president the power to levy across-the-board tariffs along the lines Trump proposes.
Even so, Congress has given the executive branch a remarkable amount of flexibility to set tariffs. This is a mistake. Members of Congress, whether or not they support Trump’s tariff plans, should be able to agree on this much: As the Constitution lays out in the taxing clause, it’s Congress’s job to set taxing and spending policy for the United States. It’s been that way for the US’s whole history, it’s the traditional role of legislatures in all democratic countries, and putting this power instead in the president’s hands cuts the people’s representatives out of the process of determining how they are taxed — a concept that goes back to before the American Revolution.”
…
“The presidential power to impose tariffs does not originate from a simple bill or program; rather, it slowly accreted over time, with a particular expansion over the past decade as the Trump administration rediscovered authorities in old laws that enabled it to wage a trade war with China and protect the steel industry.
Section 232 of the Trade Expansion Act of 1962, for instance, gives the president the right to levy tariffs upon the secretary of commerce’s recommendation without asking Congress. This was the authority Trump used to slap tariffs on steel and aluminum back in 2018, tariffs which Biden recently expanded slightly.
Section 301 of the Trade Act of 1974 gives a similar power to impose tariffs based on unfair trade practices by foreign nations on the advice of the Office of the US Trade Representative. Trump used this power to impose sweeping tariffs against China. Biden has made liberal use of this power, too, expanding tariffs on steel, batteries, solar cells, and electric vehicles from China.
Finally, there’s Section 201 of that same 1974 law, which allows tariffs against imports that “seriously injured or threatened … serious injury” to domestic companies. Trump and Biden have used this to justify tariffs on washing machines and solar cells from most countries.
Even if Trump couldn’t implement a full 10 percent tariff on all imports with his executive powers — because the previous authorities apply only to specific industries or specific countries — he could make a lot of progress toward that goal. His 60 percent tariff on all Chinese imports, for instance, may very well be possible because it’s narrowly targeted at one nation. He and Biden have proven that the president can, without Congress, raise taxes on imports very significantly.
I happen to think most of both Trump and Biden’s tariffs were wrongheaded and that Trump’s plan for more sweeping tariffs amounts to a significant tax increase on the poor and middle class that would hurt US exports, invite retaliation from other countries, harm America’s international reputation, and fail to create any jobs for people who need them. (Vice President Kamala Harris has attacked the Trump tariff plan as a “sales tax” but hasn’t disavowed Biden’s tariff policies.)”
Is the nfl a monopoly or oligopoly? Femveratu. 2022. Reddit. Is the nfl a monopoly or oligopoly? Seth066. SwissyVictory. 2022. Reddit. Is the nfl a monopoly or oligopoly? Seth066. The Economic Structure of the NFL John Vrooman. K.G. Quinn (ED.). 2012. The
“government data show immigrant labor contributes to economic growth and provides promotional opportunities for native-born workers. And a mass deportation event would cost U.S. taxpayers up to a trillion dollars and could cause the cost of living, including food and housing, to skyrocket, economists say.”
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“The latest U.S. Bureau of Labor Statistics Current Population Survey data shows that as of 2023, native-born Black workers are most predominantly employed in management and financial operations, sales and office support roles, while native-born Latino workers are most often employed in management, office support, sales and service occupations.
Foreign-born, noncitizen Black workers are most often represented in transportation and health care support roles, and foreign-born, noncitizen Hispanic workers are most often represented in construction, building and grounds cleaning.
How has immigration contributed to U.S. growth?
In 2023, international migrants — primarily from Latin America — accounted for more than two-thirds of the population growth in the United States, and so far this decade they have made up almost three-quarters of U.S. growth.
After hitting a record high in December 2023, the number of migrants crossing the border has plummeted.
The claim that immigrants are taking employment opportunities from native-born Americans is repeated by Trump’s advisers. They often cite a report produced by Steven Camarota, research director for the Center for Immigration Studies, a right-leaning think tank that seeks a reduced immigration flow into the U.S. The report combines job numbers for immigrants in the U.S. legally and illegally to reinforce the claim that foreigners are disproportionately driving U.S. labor growth and reaping most of the benefits.
Camarota’s report states that 971,000 more U.S.-born Americans were employed in May 2024 compared to May 2019, prior to the pandemic, while the number of employed immigrants has increased by 3.2 million.
It is true that international migrants have become a primary driver of population growth this decade, increasing their share of the overall population as fewer children are being born in the U.S. compared with years past. That’s according to the U.S. Census Bureau’s annual American Community Survey.
Are immigrants taking native-born workers’ jobs?
Economists who study immigrant labor’s impact on the economy say that people who are in the U.S. illegally are not taking native citizens’ jobs, because the roles that these immigrant workers take on are most often positions that native workers are unwilling to fill, such as agriculture and food processing jobs.
Giovanni Peri, a labor economist at the University of California, Davis, conducted research that explores the impact of the 1980 influx of Cuban immigrants in Miami (the so-called Mariel Boatlift) on Black workers’ employment. The study determined that the wages of Miami’s Black and Hispanic workers moved above those in other cities that did not have a surge of immigrant workers.
Peri told the AP that the presence of new immigrant labor often improves employment outcomes for native-born workers, who often have different language and skill sets compared to new immigrants.
In addition, there are not a fixed number of jobs in the U.S., immigrants tend to contribute to the survival of existing firms (opening up new opportunities for native workers) and there are currently more jobs available than there are workers available to take them. U.S. natives have low interest in working in labor-intensive agriculture and food production roles.
“We have many more vacancies than workers in this type of manual labor, in fact we need many more of them to fill these roles,” Peri said.
Stan Marek, who employs roughly 1,000 workers at his Houston construction firm, Marek Brothers Holdings LLC, said he has seen this firsthand.
Asked if immigrants in the U.S. illegally are taking jobs from native-born workers, he said, “Absolutely not, unequivocally.”
“Many of my workers are retiring, and their kids are not going to come into construction and the trades,” Marek said. He added that the U.S. needs an identification system that addresses national security concerns so those who are in the country illegally can work.
“There’s not enough blue-collar labor here,” he said.
Data also shows when there are not enough workers to fill these roles, firms will automate their jobs with machines and technology investments, rather than turn to native workers.”