In Search of Sanity: COVID-19 Risk & Government Spending
I discuss the need for sanity regarding rising threats of government action to deal with the Delta variant, massive federal government spending proposals, excessive property taxes in TX, and more.
I hope you’re having a fantastic week with many opportunities to prosper. As always, thank you for subscribing to this newsletter, and please share with others who also agree (and even if they don’t): Free-market capitalism best lets people prosper!
I recently had several productive meetings at the Texas Capitol to discuss how the Legislature can work to eliminate property taxes.
Property taxes are on the minds of Texans. The time for real cuts is now.
Here are a few books that I’ve read so far this year.
Let’s get to the economic and fiscal situations in Texas and D.C.
TEXAS ECONOMIC AND FISCAL SITUATION
The state-level jobs report was recently released. Here’s my take on what’s going on in Texas, how the Lone Star state compares with other states, and what are the policy implications to improve things. (jobless claims info here)
TPPF recently released the bold proposal “Lower Taxes, Better Texas” to eliminate property taxes in Texas. This would start by either immediately or over time eliminate school district maintenance and operations property taxes, which comprise 43% of total property taxes statewide and even higher for many Texans. Watch this news segment with my interview to learn more.
We have an extraordinary opportunity to go big on lowering property taxes during a special session, but Texas Democrats running to D.C. is keeping this and other good policy from being happening. And there are indications that some Democrats also want to eliminate property taxes, as their hefty burden hits everyone across the political spectrum. Here’s an overview of my recent Special Edition newsletter and the benefits to families.Fed up with high bills? Want to do something about it? Check out this edition of the newsletter. vanceginn.substack.com/p/special-edit…
Texas Democrats are still not at work, which Democrats seem to like the notion of not working as most of their economic policies disincentivize work and investment that is used to create jobs. There was some hope they would return soon but those hopes faded quickly. It looks like not much will happen before Governor Abbott’s first called special session ends on August 7th so he will likely call the second one for August 8th. Stay tuned!❤️Texans in say we’d appreciate care packages of property tax relief. Before Aug. 7, we’re looking for at least $5B in property tax cuts and path to eliminating nearly half of property taxes. No shipping necessary. TY! Here’s what we want: texaspolicy.com/press/tppf-rel…
Dallas Democrats @dallasdemocrats💙 Our Dems in DC said they’d appreciate care packages from home. Before 5pm Tues, we're collecting Dr. Pepper, salsa, hard candy, hairspray, travel toiletries, hand sanitizers, sewing kits, first aid, and/ or $ to pay shipping. TY! 📍 9am-5pm, M-F 1414 N. Washington Ave, Dallas https://t.co/PgZHQTy10h
My friends at ALEC published a good paper on state-level debt.
Check out my commentary on how Texas is leading the way in fiscal policy.
U.S. ECONOMIC AND FISCAL SITUATION
Given the looming debt ceiling fight, here are key considerations and policy recommendations by my colleague Wes Coopersmith, which the key is to control spending to provide fiscal sanity in D.C. (See Responsible American Budget)
My TPPF colleague E.J. Antoni published an excellent piece on inflation created by the Fed’s poor policies, which are paired with poor fiscal policy.
E.J. Antoni and I also published this one on the need to return to normalcy.
Good piece on setting the record straight on income inequality by two of my former colleagues at the White House.
Here’s one of several upcoming attempts to educate folks on the differences between capitalism and socialism.
WHAT’S UP WITH COVID-19 IN TEXAS AND BEYOND
Here is a summary of the latest in the COVID-19 situation in Texas. More on TX DSHS Covid-related data here. Data on demographics at the U.S. level. Research on the ineffectiveness of lockdowns in slowing the spread of the novel coronavirus. Another piece noting how we will always have coronaviruses, we need to start better understanding risk and drop the ridiculous lockdowns and mask mandates to better align the risk with the policies while understanding the direct and indirect costs of those policies.
Given the evidence of the situation and questionable results of mandates and restrictions by governments at every level, Gov. Greg Abbott lifted the state restrictions on March 10, 2021, and local restrictions on May 21, 2021.
Fortunately, Gov. Greg Abbott recently said this:
An interesting study by economist Casey Mulligan at the University of Chicago:Let’s do better about understanding risks, as policy responses aren’t aligned. “For each 22 million unvaccinated students and teachers schooling in-person for a 5-day week during the pandemic, the expected number of fatalities among teachers and their spouses is one or less.”
caseybmulligan @caseybmulliganMy article on the health costs of in-person schooling is now published. In unvaccinated schools under the prevention protocols used Fall 2020, the risk of in-person teaching for a day was similar to this risk of driving a short distance in a car. https://t.co/wxJt0V1NKK
Here is a good representation of economists (ha!):
My prayers this week are focused on the following verse:
Thank you for reading this newsletter and sharing it with your network. I pray that we know that no matter the times of trouble that the Lord is good and He will provide for us because He wants us to prosper in every way. Many blessings to you and yours, and have a prosperous week.
Vance Ginn, Ph.D. | www.vanceginn.com | #LetPeopleProsper