| Unleash Prosperity Hotline – Weekend Edition Issue #390 10/15/2021, 10/16/2021, 10/17/2021 |
| 1) More Signs We Are Winning: Manchin KOs Biden Climate Change Agenda Joe Manchin is, of course, from West Virginia – one of the leading states in coal and natural gas production. He appears to have just wiped out the most economically damaging features of the $3.5 trillion Govzilla bill: the so-called Clean Electricity Performance Program, which would have penalized states if they failed to meet Biden‘s Stalinist goal of 50% reduction in carbon emissions by 2030. Manchin rightly views this as a war on coal. As Politico reports that he is insisting on “a path forward for natural gas and coal plants,” which seems eminently sensible given that coal and natural gas account for the majority of U.S. power production. Good for Manchin. Good for West Virginia and good for the country. The Biden mindless war on American energy is already wreaking havoc in the global energy markets with gasoline prices here headed to $5 a gallon. And he’s only been in office for 10 months.  |
2) The Swiss Reject Soak The Rich Taxes – Will America Follow Suit? Our friend Dan Mitchell of the Freedom and Prosperity institute reports that Swiss voters soundly defeated a ballot initiative to raise taxes on wealth, dividends, and capital gains. The so-called “99% initiative” was designed to make the top 1% pay more of the tax burden to reduce as supporters of the initiative put it “the horrendous inequalities in wealth distribution in Switzerland.” The final result was a two to one voter repudiation of the tax hike on those with income of more than roughly $100,000. It lost in ALL 26 cantons, including liberal Geneva, a true repudiation of the concept. Let’s hope Americans similarly reject soak the rich economics. |
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