New York lawmakers need to realize that people respond to incentives, and that punitive taxation inevitably backfires.
Thanks to the recently-passed $1.9 trillion spending package, the state of New York is set to receive a whopping $23.5 billion in federal bailout money. This is more than enough to make up for any revenue gaps incurred over the last year. But progressive lawmakers are nonetheless considering a slew of new business and personal taxes—prompting 250 top business leaders to pen an open letter this week warning that these punitive tax hikes could have drastic ramifications.
“Significant corporate and individual tax increases will make it far more difficult to restart the economic engine and reassemble the deep and diverse talent pool that makes New York the greatest city in the world,” wrote the leaders, whose ranks include the CEOs of JP Morgan Chase, Blackrock, and Goldman Sachs. “Many members of our workforce have resettled their families in other locations, generally with far lower taxes than New York, and the proposed tax increases will make it harder to get them to return.”
“This is not about companies threatening to leave the state; this is simply about our people voting with their feet,” the letter continues. “Ultimately, these new taxes may trigger a major loss of economic activity and revenues as companies are pressured to relocate operations to where the talent wants to live and work.”
What specific proposals have these business leaders so concerned? Well, here are the tax changes up for consideration in the Empire State, according to Fox Business:
Chinese electric vehicle maker Nio became the latest carmaker to temporarily suspend production on Friday as a result of a global semiconductor chipshortage that has led to major losses.
Ford Motor, Honda Motor, General Motors and Volkswagen were among the automakers caught off guard by the shortage, forcing many to hold back production even as car demand picked up during the pandemic.
Chip shortages have cost the global auto industry 130,000 vehicles in lost production, research firm AutoForecast Solutions estimates, with the heaviest impact in North America, with 74,000 units lost, and Western Europe, with 35,000 lost.
The chip scarcity is also a result of an increased demand from the consumer electronics industry as people worked from home and played more video games during the crisis. Sanctions against Chinese technology companies have also played a role.
Nio, one the main challengers to Tesla, which dominates the EV market in China, said it would halt production for five working days at its Hefei plant and cut its first-quarter delivery forecast by as much as 1,000 vehicles.
Shares of Nio, which makes the ES8 and ES6 electric sport-utility vehicles, were down more than 8 percent in U.S. mid-afternoon trading.
Nio, which also faces competition from home-grown rivals such as Xpeng Inc, now expects to deliver 19,500 vehicles in the first quarter, down from a 20,000 to 20,500 range previously.
Ford had warned the shortage could hit its 2021 profit by up to $2.5 billion, while larger U.S. automaker GM expects the crisis to shave up to $2 billion off its full-year profit.
Ford, which was until now assembled its highly profitable F-150 without certain parts, said on Thursday it will idle production of the trucks at a plant in Michigan through Sunday.
GM and Japan’s Honda both said this week they would continue production suspension at plants in North America for the coming weeks.
Swedish truck maker Volvo AB meanwhile said on Tuesday the chip shortage would have a “substantial” impact on its second-quarter earnings, and it would implement stop days across its sites globally beginning in April.
President Biden is preparing executive actions that seek to combat gun violence.
Mr. Biden signaled in his first formal press conference that he plans to advocate for legislative remedies to gun violence and to take executive actions targeting “ghost guns” and allocating more money to cities and states to combat gun-related violence.
White House Press Secretary Jen Psaki said Friday the administration does not have a timeline on when those will be released.
She also reminded reporters that the Obama-Biden administration put into place 23 executive actions to combat gun violence.
“It is one of the levers that we can use, that any federal government that Any president can use to help address the prevalence of gun violence,” Ms. Psaki said.
Ms. Psaki said Mr. Biden supports House-passed bills that would expand background checks for gun sales and reinstate an assault weapons ban.
A federal district court judge ruled Thursday caps on religious services in Washington D.C. were unconstitutional going into the Easter holiday.
Judge Trevor N. McFadden, appointed under former President Donald Trump in 2017, concluded the district’s guidelines set the nation’s capital apart from the 37 states with no attendance caps on church gatherings.
D.C.’s restrictions unfairly singled out worship services and mandated arbitrary numerical attendance caps regardless of building capacity. All other states have loosened their restrictions on in-person worship but it seems that D.C. never got the memo. https://t.co/U8BzaTGujZpic.twitter.com/Krfvfa12OM
The ruling comes just in time for Easter Sunday on April 4, one year after the holiday was interrupted by state and local officials who implemented guidelines to ban large congregations. Restrictions targeting religious services quickly became a theme of the coronavirus pandemic lockdowns.
In Louisville, Democratic Mayor Greg Fischer sought criminal penalties for those who even attended a drive-in Easter service before a federal judge in Kentucky blocked the mayor’s power grab. In Greenville, Mississippi, residents who attended church gatherings were slapped with $500 fines in a case that provoked the Trump Department of Justice to take action.
“I still think the most likely etiology of this pathogen in Wuhan was from a laboratory, escaped,” said Dr. Robert Redfield.
(Just the News) Dr. Robert Redfield, the former director of the Centers for Disease Control and Prevention (CDC), said in an interview that he believes the most likely origin of the COVID-19 virus was from a laboratory in China.
Redfield made these statements during an interview on CNN with Dr. Sanjay Gupta. The interview is set to air on March 28, according to The National Pulse.
“Now, I am of the point of view that I still think the most likely etiology of this pathogen in Wuhan was from a laboratory, escaped,” Redfield said. “The other people don’t believe that. That’s fine. Science will eventually figure it out. It’s not unusual for respiratory pathogens that are being worked on in a laboratory to infect the laboratory worker.”
Dr. Redfield said that he thinks the virus started transmitting in September or October in the Chinese city of Wuhan.
Interviewer Sanjay Gupta said that the Wuhan Institute for Virology is known for studying such viruses, including other types of coronaviruses, including experimenting with “bat coronaviruses.”
Elon Musk—Tesla and SpaceX CEO—openly shamed left-wing satire news outlet The Onion while encouraging his Twitter followers to read right-wing The Babylon Bee, on Thursday.
“SHAME ON YOU, ONION,” MUSK shot back at the onion, ADDING, “THIS IS WHY PEOPLE ARE SWITCHING TO @THEBABYLONBEE!
Not The Bee—a Babylon Bee offshoot covering more serious news—reveled in the fact that their sister website had just received praises from the tech titan:
Forbes notes that Musk used to enjoy The Onion’s material:
“There was a time when Elon Musk really admired The Onion, to the point where he expressed interest in buying it.
“According to the Daily Beast, Musk used to regularly email The Onion’s writers and editors about jokes he enjoyed. Nowadays, he seems to have lost his affection for the biting satirical publication, after they cut a little close to the bone.”
Musk’s appreciation for conservative humor is significant as he has made it clear in the past that he is not a conservative politically speaking.
Thanks Jack. To be clear, I am not a conservative. Am registered independent & politically moderate. Doesn’t mean I’m moderate about all issues. Humanitarian issues are extremely important to me & I don’t understand why they are not important to everyone.
The U. S. Civil War was an extraordinary and unique event in world history. For the first and only time a country sacrificed hundreds of thousands of its own citizens in a righteous fight to end the evil of slavery.
That fight had begun years before with many heroes risking their lives, but the war was the moment of truth. Slavery would be abolished or the country would cease to exist. Good prevailed.
Since then, the struggle for racial equality has continued and, despite many twists and turns, some extremely disheartening, has generally headed in the right direction… until now.
Something called Critical Race Theory intervened to turn our society around, head it back toward racial enmity and, to be blunt, destroy our country, and with it our common humanity, unless it is stopped.
Unlike slavery, which was overt, CRT is a growing cancer infecting our schools, media, entertainment, and businesses. It is everywhere, often unseen and more often not even known or recognized by a large percentage of the public, so all the more dangerous.
Many definitions and explanations of Critical Race Theory exist, a literal phantasmagoria of intellectual obfuscation, the stuff of theses and “studies,” some of it quite brilliantly, if sophistically, executed, but CRT boils down to something quite simple.
Martin Luther King’s justifiably famous dream that the day will come when we judge each other by our characters and not by the color of our skins has been turned on its head.
The color of our skins is to be the be all and end all of our existences, no matter what, no escape. That is what determines our position in life and our fate, beyond class and, apparently, beyond our character as well (i. e. how we actually behave and what we have done).
Race is everything. In order to be considered good, you must acknowledge that, literally bow to it, and behave accordingly.
And, it goes without saying, the Caucasian race (variously defined according to the situation—there is now something called a “White Hispanic”) has, in this construct, done virtually everything that is bad and is inherently the root of all evil. Hence we have “white privilege,” “white ’splainin’” and so forth.
Minorities cannot be racist, only whites.
This idea does not comport remotely with reality or with the DNA of homo sapiens (in which race is a barely visible, minor component) and is, in essence, racist itself.
Marxist Intellectuals
CRT was an outgrowth of Critical Theory, which was developed by frustrated European Marxist intellectuals who were trying to deal with the failure of the working class to do what they were supposed to—opt for the workers’ state.
They gave up on the recalcitrant workers and decided the route to communist nirvana was a “march through the institutions” (media, the academy, entertainment) to take over those three key areas and inculcate their form of Marxism from above.
It worked to a great extent—just look at what has become of these institutions throughout the West— but that wasn’t enough. A coup de grace was necessary. Western civilization must crumble altogether and be replaced by their diktats of how we must all live, act, and think—or else.
This could not be done easily by Westerners, except perhaps in the background, since the classical liberalism they abhorred was a product of the West.
Enter Critical Race Theory. That would cement their totalitarian stranglehold on society because race is immutable. (The sprinkling of outliers who pretend they are from another race add up to very little.)
“This is the army, Mr. Jones” became “You are your skin color, Mr. Jones.”
People who grew up admiring Orwell, or saying they did, were suddenly willingly living out “Animal Farm” as if they didn’t realize it was a satire. “Four legs good, two legs bad,” was becoming an American reality, only it was “Black good, white bad, yellow good, white bad, brown good, white bad.”
Every aspect of our culture has been infected with this absurdity right up to the corporate board rooms. Even Coca Cola executives are now instructing us on the dangers of “whiteness.” Do they actually believe this hogwash? Who knows? Perhaps they are just scared, cowards playing along with the zeitgeist to keep their lucrative jobs. But if that’s so, it’s worse.
A Minneapolis-area theater announced the cancellation of its upcoming production of Rodgers and Hammerstein’s “Cinderella” over concerns the cast was too white.
Chanhassen Dinner Theatres said in a press release that “Cinderella” was canceled “after careful consideration and with our ongoing commitment to Diversity, Equity and Inclusion.”
“Our hope in beginning the production process again with a new title will allow us to put into practice an intentional process based on the work we have been doing towards equity and inclusivity,” the theater said.
Director Michael Brindisi told The Pioneer Press the cancellation was due to the theater’s casting, not the content of the play.
“It was 98 percent white,” he said. “That doesn’t work with what we’re saying we’re going to do.”
Mr. Brindisi said the actors were disappointed with the cancellation but that “they respected the very hard decision we had to make.”
The theater will “start fresh with a clean slate” and stage a production of “Footloose,” instead, he said.
A Rasmussen Reports poll conducted March 24-25, 2021, shows 51 percent of likely voters believe stricter gun control would not have prevented Monday’s shooting in a Boulder, Colorado, grocery store.
According to Rasmussen, just over a third of likely voters–39 percent–said stricter gun control would have stopped the shooting, while over half–51 percent–said more stringent gun laws would not. When the answers are broken down by party affiliations, 73 percent of Republicans said stricter gun control would not have stopped the Boulder attack while 67 percent of Democrats said it would.
Moreover, Rasmussen found that 64 percent of likely voters believe it simply is not possible to “completely prevent” attacks such as the one in Boulder this week and the Atlanta-area the week prior.
When asked if the United States needs more gun control in general, 49 percent of likely voters said “No” versus 46 percent said “Yes.”
Again looking at party affiliation, 71 percent of Republicans said no more gun control was needed versus 77 percent of Democrats who said it was.
There’s no doubt that most of us packed on the pounds during the pandemic. With the second summer of COVID-19 approaching, many Americans want to slim down for bathing suit season after spending months cooped up at home binge eating and watching television.
According to The New York Times, a new study found that, on the average, adults gained nearly 2 pounds a month during a four-month observational period. Researchers used measurements from Bluetooth-connected smart scales to calculate their data.
The study was published Monday in JAMA Network Open and linked the weight gain to shelter-in-place or SIP orders issued by 45 out of 50 state governments to stem the tide of the COVID-19 pandemic during the early surge.
“The initial SIP coincided with an observed decrease in daily step counts, likely reflective of changes in physical activity and patterns of daily living, as well as concurrent self-reported increases in snacking and overeating,” wrote the researchers in their report.
Dr. Gregory Marcus, a cardiologist and electrophysiologist at the University of California San Francisco, says that the adults in the study gained more than a half a pound every 10 days which adds up to nearly two pounds monthly, according to the Times.
Marcus, the senior author of the research study, said that Americans who kept up their lockdown habits could have easily gained 20 pounds over the course of a year.
“We know that weight gain is a public health problem in the U.S. already, so anything making it worse is definitely concerning, and shelter-in-place orders are so ubiquitous that the sheer number of people affected by this makes it extremely relevant,” said Dr. Marcus.
The 269 study participants were asked to track their weight regularly using Bluetooth-connected smart scales from February 1 2020 to June 1, 2020, according to the PhillyVoice. While the researchers acknowledged that the study was small, they said it still had important implications for the American public.