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Economy

On corn dogs and continuing resolutions

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Confession: I was a fat kid.

You don’t need to know how fat, but it was enough that my mom had to establish strict limits on how much of any given food I could eat per meal, and I couldn’t surpass that amount without her express permission.

My family well remembers one such occasion when I was maybe seven years old where I got a little, shall we say, excessive.

I had maxed out for the day on my allotted two corn dogs — my favorite food at the time — but I was still hungry. My mom wasn’t home, so I asked my dad if I could have two more corn dogs.

He approved and I had two more, but I still wasn’t satisfied, so I asked my dad again if I could have two more corn dogs, which he authorized, and so on.

All told, I ended up consuming eight jumbo corn dogs in one meal. And I felt fantastic.

In fairness to my dad, given that each of my requests couldn’t have come more than five minutes apart (I tend to inhale my food), he probably thought I was referring to the same two additional corn dogs each of the three times I petitioned his consent.

Moreover, when my mom found out, there wasn’t much that could be done; I had clearly overeaten, but I hadn’t technically disobeyed procedure.

Believe it or not, congressional budgeting is a lot like an overweight seven-year-old downing corn dogs.

Periodically, despite gouging the American people trillions of dollars already, Congress runs out of money, maxing out on its corn dog limit, as it were. Congress is then faced with two options: 1) a continuing resolution, wherein the legislature passes an appropriations bill and thereby authorizes government funding at the same levels as previously established by that year’s budget until either a specified date or a regular appropriations bill is passed; or 2) a government shutdown until appropriations can be passed.

Since October, when the 2018 fiscal year began, we have seen four continuing resolutions from Congress, two of which materialized only after a government shutdown — the most recent one occurring early Friday morning for approximately eight hours.

This means that Congress has eaten its two corn dogs and gone back to ask for two more corn dogs four times in the last four months. They have now consumed ten corn dogs, which is even more than a certain hefty seven-year-old.

The latest continuing resolution, which put an end to Friday’s blink-and-you’ll-miss-it shutdown, outlines two years of spending and absolutely blows out the deficit to the tune of $1.2 trillion. And while it’s true that the continuing resolution only extends to March 23 in order to allow for time to iron out all the details, the legislature has bypassed any threat of government shutdown or continuing resolution in the near future.

You see, the traditional two options listed above — a resolution or a shutdown — only trigger due to the debt ceiling, which prohibits spending past a certain point without specific authorization from Congress, who holds the power of the purse. But what would happen if that limit didn’t exist? The government could spend whatever it wanted with or without a budget, with or without a deficit, and with or without any accountability to the American people. Essentially, it means Congress can write itself a blank check.

Unsurprisingly, Congress has vied for this third option, suspending the debt limit until March 2019 in order to free up legislators to focus on reelection in 2018 and avoid the negative publicity of a government shutdown. To avoid a shutdown, Congress has made itself too big to fail.

And that means that no matter which issues arise, be it DACA, welfare, military, education, or healthcare, Congress will undoubtedly take advantage of its liberty to spend-up the wazoo.

Where there is no accountability, there is no progress. After all, once you grant the obese seven-year-old inexhaustible access to unlimited Foster Farms jumbo corn dogs, he’s not getting any skinnier.

Richie Angel is a Co-Editor in Chief of The New Guards. Follow him and The New Guards on Twitter, and check out The New Guards on Facebook.

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Economy

Thomas Sowell makes a clear point about Medicare-for-All

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Thomas Sowell makes a clear point about Medicare-for-All

How was the left able to take heat away from their Medicare-for-All proposal, and more specifically the estimated $32 trillion price tag over a decade? They tripled down with the Green New Deal, which some estimate would cost upwards near $100 trillion.

So, the price tag of the Democrats’ desired replacement for utterly failing Obamacare is to take current government control over healthcare and put it on a regiment of steroids and methamphetamine. When you’re going through Hell, keep going, I suppose.

But all of this could be alleviated if voters and politicians took a moment to think about the prospects of Medicare-for-All logically. Let’s erase, for a moment, the Utopian notion that taxing rich people extreme amounts will give us enough money to make healthcare free for everyone while also improving the quality. That’s the goal, right? Cheaper, better healthcare is what most people want. Conservatives believe it’s best to pull government administration out of the equation and put it all on a competitive capitalist model that has worked for nearly every other industry for over a century. Hyper-leftists want to add more government control.

Conservative commentator Thomas Sowell has some thoughts on the matter. One in particular can be wrapped up into an eloquent quote that should be ideological checkmate allowing us to win the healthcare debate.

“It is amazing that people who think we cannot afford to pay for doctors, hospitals, and medication somehow think that we can afford to pay for doctors, hospitals, medication and a government bureaucracy to administer it.”

Of course, our version of checkmate requires common sense, logic, and basic math skills. These attributes aren’t as readily present on the left, therefore they might hear this logic and still think single-payer makes sense.

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Democrats

Bernie 2020, the union: How organized labor is the latest play for primary points

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Bernie 2020 the union How organized labor is the latest play for primary points

When one Democratic candidate goes to the left, the other candidates lurch to match. We’ve seen it in support for the Green New Deal, Medicare-for-All, and super-high tax rates for the rich. We’re about to see it in regards to organized labor as Bernie Sanders’s campaign has become the first group in presidential campaign history to form a union.

My Take

Whether this was a decision by campaign leadership to demonstrate their boss’s leftist credibility or of they’re simply being the leftists that they are, we can’t be sure. In fact, we’ll almost certainly never know. Either way, it’s done and now all of the other leftist campaigns have to respond.

Expect every major campaign team to unionize soon. It’s not because it will make them more effective. It won’t help them get better benefits or retain their jobs for longer term since the organization will fundamentally change following the election. All it will do is allow them to make the claim they’re so pro-union, they’re willing to accept the lost productivity associated with organized labor.

This is quickly becoming the most symbol-driven primary election season we’ve seen in decades, perhaps ever. It would all be very entertaining if it weren’t so dangerous to the American psyche.

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Economy

Busted: The myth that old 90% tax rates actually worked

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Busted The myth that old 90 tax rates actually worked

One of the favorite tactics for the new Democrats to push their idea of super-high taxes on the rich is to invoke Dwight D. Eisenhower. They say even a Republican President once believed in high taxes on the rich, a time in which the highest tax bracket was 90%.

John Stossel an economic historian Phillip Magness debunked the myth that rich people actually paid the extreme tax rates of the past in this video. As usual, Democrats have selective memories when it comes to anything they want to press.

Back in the days of high taxes for the rich, there were enough loopholes intentionally left open for them to cut their actual tax rates tremendously. According to Magness, the actual average rate paid by millionaires back then was around 41%. With fewer loopholes available today, the highest tax bracket of 37% is close to what is actually paid by those earning the most money. But what would happen if the high tax rates of the past were combined with the lack of loopholes of today? We’d have an economic collapse that would hit so swiftly, there’s no way Democrats would have time to react.

The bottom line is this: the best producers in America will no longer have an incentive to produce here. Some would leave. Others would simply stop producing. It’s easier for them to reduce their revenue and live off their accumulated riches than to earn money for the government to take. Even at a “more reasonable” 70% tax rate, as proposed by some of the top Democrats today, the increase would be too great for most wealthy Americans to bear. We saw this play out in France. We could see it play out here if the Democrats get their way.

Fighting the talking points of the left is one of the biggest reasons conservative sites like NOQ Report exist. We call on those who want to help prevent the rise of socialistic ideas to contribute to us; as a news outlet that is crowdfunded, you’ll notice a conspicuous lack of spammy ads that you find on other sites. This is intentional and allows us to reach a broader audience with the conservative truth.

Democrats love pretending like raising taxes on the rich will solve all of our problems. They know it’s not true, but it certainly sound good in campaign speeches. This isn’t really a tax grab. It’s a power grab designed to confuse the people.

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