42. Political Will: Preserve Liberty or Go Home
In this newsletter, I discuss the need for political will to preserve liberty in Texas and D.C. so that we have more opportunities to let people prosper.
Hello Friend,
I hope you’re well. Another busy couple of weeks since my last newsletter. Thank you for hanging with me as we discuss what’s been going on and what we can do to abide by my motto: Free-market capitalism best lets people prosper! And please subscribe here if you haven’t yet. And don’t miss my latest commentaries here.
Personal take: My oldest son turned 7 years old recently. My wife and I created email addresses for both of our boys when they were born and we email them often, including this newsletter, to update them on what’s going on. Now that we’ve been sending our oldest different emails for 7 years, it’s remarkable to go back and read them. He is a bright, athletic, inquisitive, and handsome boy who is God-fearing and very kind. We’re blessed to have such an amazing child, another son who will soon be 4 in October, and a new girl who should be here in April 2021, which we had the first ultrasound this week and she is looking great! I’ve also been finding ways to help my mom who lives in Houston and having some health issues, but I’m happy to report that she seems to be doing better. God is good…all the time.
Hot take: We finally have a quorum in the Texas House so things are starting to move forward! This is good news for Texans and they are looking to pass SB 1, which has been the main point of contention that makes it easier to vote while removing fraudulent voting activity in Texas. I’m hopeful that there will be additional quality bills passed this session, particularly those that will actually lower property tax bills for millions of Texans. Time is ticking for these sorts of efforts to be completed so there needs to be the political will to go big!
Now for the latest on the economic & fiscal situations in Texas, D.C., and COVID.
TEXAS ECONOMIC AND FISCAL SITUATION
Here’s my latest Ginn Economic Brief on the Texas economy.
See this thread on the boost in people’s livelihoods in states that rejected the new temporary federal unemployment bonus compared with those that didn’t. I received a lot of heat over these figures as you can see from the replies and quote tweets to this one tweet (see thread) that received more than one million views as some people stick to a political narrative that handouts don’t distort people’s incentives. Newsflash: If you pay people not to work, they won’t work. It’s a good thing these UI bonuses are expiring as we return to normal, even Fed Chairman Powell noted this is having a positive effect.
States that have ended the federal unemployment bonus (rate 1.14%) had a 4.7% faster job creation rate last month than those that didn’t (1.09%). Econ 101: Incentives matter. #bls @BLS_gov @TXWorkforce @TPPF #txlegeIt’s immoral for people to want capable others to be dependent on taxpayer $ rather than have one of thousands of more jobs added over June (34% faster growth rate) & July (5% faster) in states that ended temporary federal UI bonus than those that didn’t. Incentives matter. @TPPF https://t.co/MFRiACty9ZNow that there is a quorum in the Texas House, there is a need to pass substantial property tax relief that lowers homeowners’ and employers’ property tax bill, which can be done by using surplus funds and passing HB 122. Read my interview here.
The time for restraining spending to lower property tax bills & setting up a process to eliminate nearly half that burden is now in #Texas. austinjournal.com/stories/606763… #txlege @TPPF @TeamBettencourt @TomOliverson @KHancock4TX @Toth_4_Texas @GregAbbott_TX @DanPatrick @DadePhelan
We need to stop handing out taxpayer dollars to businesses across Texas. We did some of this in 2021, but there is more to do!
Don’t miss my interview on The Overton Window podcast on the benefits of the Conservative Texas Budget and how this approach works!
Don’t miss this 🧵 Great discussion with @JamesHohman @MackinacCenter on his “The Overton Window” podcast about state budgeting and @TPPF’s effective Conservative #Texas Budget approach. More here: thecannononline.com/conservative-t… #txlege @patrickmgleason @Taxeconomist @StatePolicy
I spoke with @VanceGinn at @TPPF about how budgeting works in Texas, and his campaign to limit state budget growth.
James Hohman @JamesHohman
And here’s a reminder to Texas lawmakers that whatever dollars are appropriated during the special session that isn’t for tax relief will be counted toward the Conservative Texas Budget.
U.S. ECONOMIC AND FISCAL SITUATION
Americans can’t afford the nonsensical “infrastructure” bills by President Biden and Democrats in Congress. Watch my latest TV interview outlining why it should be rejected:
Here's my recent interview with @DanNewsManBall @OANN #RealAmerica on the un-American & highly costly “infrastructure” packages by #Democrats in D.C. Just say no! rumble.com/vlpieq-real-am… @TPPF #txlege #Congress @chiproytx @JohnCornyn @RepThomasMassie @kerpen @GroverNorquist
Here’s more on the un-American efforts by big spenders in D.C.
It’s a travesty and un-American with the damage to our liberty and wallet. This nonsense must stop, which is a big reason why we need fiscal rules over this ridiculous, costly discretion. #ResponsibleAmericanBudget @TPPF More here: texaspolicy.com/the-ginn-econo…We spent approx. $4.1 trillion in adjusted dollars to win WWII. We just blew through (and are blowing through) a yet-to-be-known trillions of dollars to kill our economy, close businesses, close schools, & otherwise crush Americans. https://t.co/bXT366YN4T
Chip Roy @chiproytxWhat inflation? This inflation:
PCE price index hits 4.2% in July, highest inflation rate in 30 years (Jan 1991)!🤬🤯 #inflation #BEA #CPE @BEA_News @TPPF @FoxBusiness @news_ntd @OANN @ktrhnews @KUT @ktsanews @ChadHastyRadio @JackiDailyHost @DanNewsManBall @PaulGreaney_NTD https://t.co/a8fTWQog6uPeople’s incomes rose 1.1% in July; spending grew 0.3%. https://t.co/SylhsQ6Dbh
BEA News @BEA_News
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. Remember the first two major waves in Texas had restrictions in place.
Gov. Greg Abbott lifted state restrictions on March 10, 2021, and blocked local restrictions on May 21, 2021. This 3rd major wave appears different than the first two, as noted below. Although the Delta variant may be more contagious, it isn’t as deadly from either a less severe variant, vaccinations or recoveries that provide antibodies are helping, or some other answer. Let’s hope the situation has peaked with Rt being less than 1 for several days.
8/15/21 #Texas #COVID19 Rt<1 for days~already peaked Available staffed beds=11.8% (#Austin=11.4%) 7-day: New cases flat & fatalities flattening CFR: Wave #1=2.5%, #2=1.8%, #3=0.9% Since 03/20: Fat/Pop=0.18%, Case/Pop=10%, CFR=1.8% @TPPF @ktrhnews @TheTexanNews #txlege
8/15/21 #Texas #COVID19 Nearing Peak?🙏 C19 hospitalizations/staffed beds=20.2% (#Austin=17.1%) Available staffed beds=13.5% (Austin=11.7%) 7-day: New cases up & fatalities up CFR: Wave #1=2.5%, #2=1.8%, #3=0.5% @TPPF @therealarod1984 @MattMackowiak @MattRinaldiTX #txlege https://t.co/4EupE52wS1 https://t.co/NgfsdT56Kw
Vance Ginn @VanceGinn
Closing Thoughts
Excellent quote by one of my favorite presidents, Thomas Jefferson:
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 every day that God has our back. Many blessings to you and yours, and have a prosperous week.
Vance Ginn, Ph.D. | www.vanceginn.com | #LetPeopleProsper