Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
CERN Study Casts Doubt on Man-made Global Warming
The following article appeared in London's Sunday Express in May, 2016. I came across it while browsing on Google. I found no reference to the study referred to in any American news source. The study casts doubt on the validity of the belief that the use of man-made fossil fuel is the major contributor to global warming much of which occurred before man began using fossil fuels. The assertion that scientists are in agreement with the notion that man-made global warming is principally responsible for global warming appears to be utter nonsense. The study has not been publicized in any American journal or news source that I have been able to find. A leading study of the negative effects of global warming world-wide showed that the U.S. would be one of countries least affected by global warming in the next century. Until more research is done and it is reasonably certain that man-made fossil fuel emissions are the major or a significant cause of global warming, it is foolish to spend hundreds of billions of dollars world-wide measures to reduce fossil fuel emissions. The U.S. and the States give subsidies and tax benefits to the wealthy producers of so-called "clean fuel" a number of whom are not even American-owned and forces utilities to pay high prices for the electricity they produce. And it gives tax credits to the wealthy consumers of Tesla and other electric and hybrid motor vehicles.
CERN is the largest nuclear research institution in, the world. The leading CERN researcher on the cause of climate change is a British scientist Jasper Kirkby. The article follows:
Has climate change been disproved? Large Hadron boffins cast shock DOUBT on global warming
MANKIND'S burning of fossil fuels may not be the primary cause of global warming, according to the shock results of a new study by scientists behind the Large Hadron Collider (LCH).
By JON AUSTIN
Real Income Tax Reform Is Taxing Corporate Earnings As Personal Income
Although tax reforms have been proposed by all candidates for President in the primaries, they all fall far short of what most economists would propose. It is not tax reform to impose a flat tax as Sen. Cruz and others have proposed or to eliminate the estate tax as a number of Republicans have recommended. The proposals would simply eliminate all progressivity from the tax system. The personal income tax and the estate tax are the only taxes that reduce income inequality and wealth inequality in a free market system. It is not tax reform to propose a value-added tax as Pres. Obama once briefly suggested and his rival Romney said he was considering it. The VA tax, widely used in the Euro community and promoted by the IMF for every country in the world is not appropriate for countries with a federal system of government. It is a sales tax and nearly every one of the States in the U.S. imposes a sales tax. Sales taxes should be left to the States.
Real reform must call for abolition of the corporate income tax and taxing corporate earnings as personal income under the personal income tax. None of the candidates for President have proposed doing so. Instead they propose reforms that are not real reforms at all. ...
Trump is Correct: GDP Growth Lowest since 1929-1939 - my blog entry in American Thinker this morning
Here's a selection:
During Sunday’s presidential debate, Republican candidate Donald J. Trump claimed that the U.S. GDP growth rate is the lowest since 1929....
The usually accurate Breitbart fact-checkers held that this claim was “hyperbole” and “mostly false.” However, the average growth rate in real GDP during the period from 1929-1939 was 1.3% per year. The average growth rate from 2005-2015 was 1.4% per year. Every decade in between has had higher growth than 1.4%, as shown in the graph below:
Comments on News You May Have Missed
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 needs 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) ...
Comments on some news items you may have missed
Today’s date, 10/6/2016. Some news you might have missed!...
Trump won 1st debate trade fight
There were many things wrong with Trump's tactics in the first debate. But he did accomplish one of his strategic goals. He moved the polling needle on trade.
The CNN / ORC poll asked several questions about which candidate would better handle a series of issues. One of the issues was trade. In both prior outings of this question, Clinton had a solid lead: 53:43 in late July for instance. In the post-first-debate poll, Trump had taken the lead: 45 for Clinton, 49 for Trump. Trump's position versus Clinton deteriorated marginally on most other issues. But he won the trade segment.
Veep Debate -- A loss for Kaine and Civility
Civility took a back seat this debate. Since 2012 at least, the presidential debates have headed to the gutter. Interruption contests rather than contests of ideas. I have proposed eliminating the moderator and letting the microphone do the business the moderators aren't of keeping time and preventing interruption. But in the absence of that approach, perhaps we can consider the following. Television networks can probably do this one all on their own. If one of them advertises that they are taking this road next debate, I promise I will watch their feed.
1. Announce that candidates who speak when it isn't their turn will have their microphone muted.
2. Any candidate who speaks out of turn will have their image cut from the screen -- the camera will just show the opponent.
3. If candidates persist in violating the rules, change the angle and cut to the moderator when candidates interrupt.
Implementing this will merely require a few seconds of lag and an agile crew managing the video and audio feeds. If done right, no one outside of the auditorium of the debate need ever know that one of the candidates lacked the basic self control and decency to wait until the opponent had delivered a sentence and exhausted the allotted time.
As it is, the debates have become an embarrassment. A display of bullying disrespect rather than an arena for the battle of ideas. At best an audition for the weekend talk show circuit. Perhaps the cross-talk makes for "good television" but it diminishes our democracy. There should be ample provision of time to respond. No quarter should be given, however, to the efforts candidates make to steal time and silence their opponents through snide remarks, repeated interruptions, and similar schoolyard tactics.
The marching orders for Tim Kaine in the VP debate seem to have been to attack relentlessly. But he was miscast for the role. Kaine's basic temper and personality...
Journal of Economic Literature:
Atlantic Economic Journal: