21. Freedom Supports Prosperity
In this newsletter, I highlight the roles of government, problems with the COVID "relief" bill, good signs in Texas's jobs report, the need for fiscal relief, and the failures of lockdowns.
Hello Friend!
It was another productive week. This week’s newsletter is a bit longer than usual, but there’s a lot going on and I want to provide you with as much insight as possible. Please email me at vanceginn@gmail.com with your feedback, questions, or just to catch up.
I can tell that the Texas Legislative Session is heating up because I’ve been more tired than normal lately. But this is a reason that I do what I do: provide sound research to support actions and policies that will help improve our world.
Of course, much of my work deals with getting the government out of the way so that we have more opportunities to fulfill the core tenets of America’s founding fathers with regard to life, liberty, and the pursuit of happiness.
But even more importantly, I believe freedom and prosperity are part of God’s will for our lives—inalienable rights. Given this theological foundation, I’m optimistic about the future no matter the challenge. It’s a big reason why when you see me that I likely have a smile on my face even if I’m struggling because I know that I’m already saved by His grace. What more could I want?
It’s also a reason that I’m adamant about trying to find ways that will best let people prosper in their unique way, which is too often stymied by government barriers. We’ve seen this in numerous ways recently on full display when you think about the unnecessary lockdowns by governments during the pandemic, the policy failures that led up to and contributed to the power outages in Texas, and the latest COVID “relief” bill out of D.C.
I’m for a government with roles that provide the rules of the game (e.g., private property rights), a justice system (e.g., uphold private property rights and correct injustices when necessary), and protect people (e.g., national defense, protect private property rights, police). This includes my view that the government that typically governs best is closest to the people, which is why I’m a strong believer in federalism. But there should be numerous checks and balances, which is why I advocate for fiscal and monetary rules. Overall, I would rather the federal government be much smaller than today, do much less, and return to what the founding fathers intended, leaving the rest to the states or to the people. This freedom would support greater prosperity.
We’re a long way from returning to that place, but we must start somewhere. As President Reagan said, “If not us, who? If not now, when?”
I’m hopeful that we can start to turn the rising tide of excessive government intervention in our lives before it’s too late. And by doing so we can remove what has essentially become the worship of government like a god and the need to expand it to increase dependency on it to many people instead of focusing on the true God who is the greatest provider no matter the need.
Instead, free-market capitalism with limited roles for government outlined above, as I believe is best resembled by classical liberalism, would allow for people to flourish in terms of spirituality, wealth, health, education, and more. The more we can head down that road, the more we can have more of a wealth mindset rather than the poverty mindset that keeps us from achieving God’s will in our lives and thus achieving His will for our world.
Let’s continue to work together to find ways to let people prosper!
Before I get into the material below, there is more that we’re learning about the failures of the American Rescue Plan Act of 2021. Join us during TPPF’s Livestream on Monday from 12-1 pm CT to learn more as I’ll be a panelist along with some other great folks to discuss the details. Register at the link below.
And if you missed TPPF’s Livestream last week, watch it here:
TEXAS ECONOMIC AND FISCAL SITUATION
Texas’s labor market continues to improve, but there’s much room for improvement as noted in the state’s latest labor market report on Friday.
Here’s a good comparison of the four largest states (CA, TX, FL, NY) with CA and NY having many more extractive institutions compared with TX and FL having many more inclusive institutions (read this for more—I’m working on updating).
Here’s some good news related to property tax reform this session.
I’ll be testifying on at least three bills this week so be sure to check my Twitter page for more information on those in the coming days.
U.S. ECONOMIC AND FISCAL SITUATION
Here’s an overview of the latest on the U.S. economy and labor market.
There were several pieces this week that highlighted the problems with the American “Rescue” Plan Act of 2021. The problems include less incentive for people to work and states to rightly remove all business operating restrictions while potentially creating moral hazard as more money is thrown at the problem and profligate states get bailed out yet conservative states are restricted from pro-growth policies.
This tweet of mine received a lot of attention and was retweeted by U.S. Senator John Cornyn and many others. The comments are interesting...but do check out the ridiculous things in this bill that Senator Pat Toomey highlights and these are just a few nonsensical items that our taxpayer dollars are funding.
Here are a few that you should read:
I’ll keep beating this drum because we need spending restraint now and we need to redefine the narrative about how and why.
And it’s a reason why states should reject the taxpayer dollars being redistributed to them. This is destroying prosperity and will lead to less sovereignty by states quickly because of all of the restrictions, red tape, and other demands. This is the best path forward if the political will is there. We can’t afford this now and the answer to improving the livelihoods (and lives) of Americans is to remove restrictions on businesses and put in place pro-growth policies.
TEXAS OPEN, NOW OPEN AMERICA
Summary of COVID-19 Situation in Texas: TX DSHS Data Here
As of Mar. 14, no Trauma Service Area (TSA) is on Texas Governor Greg Abbott’s eliminated list for elevated restrictions.
On March 2, 2021, Governor Abbott announced Executive Order GA-36, which states on March 10 there are no longer restrictions on business operating capacity and no mask mandate. A county judge will have the authority to restrict business capacity of up to 50% if the COVID-19 hospitalizations as a share of total hospital capacity in that TSA are above 15% for seven consecutive days, but cannot mandate wearing a mask.
EO GA-36 opening Texas is welcome news as the data have been showing substantial improvement in the COVID-19 situation, and freedom is the best way to deal with a pandemic while concentrating resources where they’re needed most without blanket restrictions that have hurt lives & livelihoods.
The next policy step is to promoting and pass pro-growth policies so employers can expand their business, workers can return to work, and families can regain prosperity experienced before the pandemic. TPPF’s Responsible Recovery Agenda would help achieve this through less spending, taxing, and regulating.
As some states are opening, here is a thread with my commentaries with research on how lockdowns failed and why we should never do this again.
Closing Thoughts
Let us focus on these Godly words this week:
And finally, here’s a quote from the great economist Milton Friedman:
Thanks again for reading! If you haven’t signed up for my newsletter yet, please subscribe here at no charge and share with others. Many blessings to you and yours.
Vance Ginn, Ph.D. | www.vanceginn.com | #LetPeopleProsper