Archive for March, 2006

Schwarzenegger Honors Cesar Chavez

Posted by PrestoPundit on 03/31/2006

proclaiming it “Cesar Chavez Day”, but neglects to honor Ronald Reagan on the day California has set aside each year as Ronald Reagan Day. This tells you all you need to know about where the Schwarzenegger administration is today.

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What the Hell is Schwarzenegger Doing?

Posted by PrestoPundit on 03/31/2006

It’s as if Schwarzenegger is having a mental breakdown — is there really any reason to re-elect a Republican doing this kind of thing? Daniel Weintraub calls it “Bizzaro Politics.” I’d call it the politics of a one term governor.

Posted in California | Comments Off on What the Hell is Schwarzenegger Doing?

FAQ — Illegal Immigration

Posted by PrestoPundit on 03/31/2006

Thirteen questions — thirteen answers. Quotable:

11) Is there a crime problem related to illegal immigrants? Absolutely, and in areas where illegals congregate heavily, crimewaves tend to follow. For example, illegals are responsible for much of the serious crime in Los Angeles. Here’s Heather Mac Donald on that topic from back in mid-2004:

In Los Angeles, 95% of all outstanding warrants for homicide target illegal aliens, and over 60% of all outstanding felony warrants. Illegal aliens, and immigrants generally, are a major, and unacknowledged, driver of gang crime.

Moreover, according to Jim Kouri, the vice-president of the National Association of Chiefs of Police:

“It’s widely been reported that illegal aliens comprise upwards of 27 percent of the US prison and jail population.”

Make no mistake about it: illegal aliens are responsible for a very significant percentage of the rape, murder, robbery, and mayhem that occurs in the United States.

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Jobs Americans Won’t Do

Posted by PrestoPundit on 03/30/2006

The argument for allowing mass illegal immigration is that “there are jobs Americans won’t do.” Here’s an idea. Let’s identify exactly which jobs specific Americans won’t do. Let’s begin with . . .

Jobs Ted Kennedy won’t do:

1. search and rescue.
2. faithful husband.
3. role model for teens.
4. college exam taker.

Jobs George Bush won’t do:

1. homework (port deal, Katrina, WMD intelligence).
2. math (national budget accounting).
3. listening to the American people (port deal, etc.).
4. basic economics (“there are jobs Americans won’t do.”)

Jobs John McCain won’t do:

1. protect American 1st Amendment rights.
2. work as a loyal Republican.
3. any job not covered by a TV camera.

Posted in Economics, Uncategorized | Comments Off on Jobs Americans Won’t Do

The Chinese (and Koreans) are Coming

Posted by PrestoPundit on 03/30/2006

The Justice Dept. OK’s the Whirlpool – Maytag marriage. Quotable:

The combined “market share was high enough to conduct a very extensive and thorough investigation of this case,” Thomas Barnett, assistant attorney general for antitrust, said ..”We went beyond market share and evaluated the competitive dynamics about what is likely to happen.”

He says that prices should stay in check because of competition from the growing ranks of foreign manufacturers, including LG and Samsung .. “When we looked at the question of an anti-competitive price increase on low-to-midrange products, we considered North American competitors who could expand their sales, and foreign companies,” Barnett said. For example, South Korea’s LG, which distributes to chains such as Home Depot, “has been quite successful in a short period of time.”

The foreign factor is a fairly new consideration with regulators. “Ten years ago, if you said the Chinese were coming, you would have been laughed out of the Justice Department and out of court,” says Keith Shugarman, an antitrust lawyer at Goodwin Procter.

Posted in Economics | Comments Off on The Chinese (and Koreans) are Coming

Bruce Bartlett vs. the Wall Street Journal

Posted by PrestoPundit on 03/30/2006

Bruce Barlett makes mince meat of the WSJ editorial page. Quotable:

The fact is that it is only in very exceptional circumstances that there would even be the possibility of a tax cut that would so stimulate growth that it would pay for itself. Even the Bush administration admits this. The 2003 Economic Report of the President (pp. 57-58) says, “Although the economy grows in response to tax reductions … it is unlikely to grow so much that lost tax revenue is completely recovered by the higher level of economic activity.”

Recent academic research suggests that feedback effects would offset only a fraction of the static revenue loss, that which would result from no effect on consumption or incentives. A 2004 study by Harvard economists N. Gregory Mankiw and Larry Weinzierl found that a cut in taxes on capital might recoup 17 percent of the static revenue loss in the first three years and a cut in taxes on labor could recoup 13 percent. Mr. Mankiw served as chairman of the Council of Economic Advisers under President Bush. A study by the Congressional Budget Office in December 2005 found that a tax rate cut would recoup at most 20 percent of the static revenue loss in the first five years.

Overall federal revenues are just barely back to where they were five years ago in nominal terms. According to the CBO, federal receipts were $2,025.5 billion in 2000 and $2,153.0 billion in 2005. Revenues fell 1.7 percent in 2001, fell another 6.9 percent in 2002, and fell again by 3.8 percent in 2003. They didn’t start to bounce back until 2004, when they rose by 5.5 percent.

Revenues as a share of the gross domestic product fell every year from 2000 to 2004, from 20.9 percent to 16.3 percent. The 2005 increase only raised revenues to 17.5 percent — still well below their historical average of 18.1 percent of GDP. It seems to me that the normal cyclical expansion after the end of the recession in 2001 has done far more to raise revenue than any Laffer curve effect. Revenues are simply returning to trend, nothing more.

In short, there is very little likelihood that revenues are rising because of the 2003 tax cuts or would fall if they are not extended. The case for extending them must be made on other grounds.

Posted in Economics | Comments Off on Bruce Bartlett vs. the Wall Street Journal

Schwarzenegger Doesn’t Want My Vote

Posted by PrestoPundit on 03/30/2006

Schwarzenegger seems to think he’ll be re-elected governor without my vote come this November — what else explains his decision to appoint a leading member of the racist “La Raza” organization to replace Rob Reiner as the new head of California First5?

UPDATE: Bill Bradley notes that there are several organizations known as La Raza, and to the best of his understanding the one involved here is not a racist organization.

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Meathead Quits

Posted by PrestoPundit on 03/29/2006

Rob Reiner is out as head of California First5, the government board in charge of helping raise California’s infants and toddlers.

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Thomas Sowell vs. The President

Posted by PrestoPundit on 03/28/2006

on the topic of illegal immigration. Let’s just say that Sowell isn’t impressed with President Bush’s capacity for honesty. Does he call the President a liar? Well, he says the President is giving us slippery sophistry and twisted words. He doesn’t use the word “liar” specifically …

Posted in Economics, Immigration | Comments Off on Thomas Sowell vs. The President

The President Says

Posted by PrestoPundit on 03/28/2006

we need to have a “civil debate” on illegal immigration. Yet the President seems incapable of addressing the issue with anything but intellectual deception. And there can be few things less civil than a debate launched with deception. If the President wants to get civil he needs to stop hinting that those who oppose him are un-America or worse. He needs to stop telling the intellectually deplorable lie that “there are jobs Americans won’t do.” And he needs to stop suggesting that the debate is about the legitimacy of tightly regulated and limited legal immigration when what we are debating is mass illegal immigration from the 3rd world.

And the President needs to stop telling the lie that illegal immigrants are not a burden on our economy. I’d like to see President Bush come to California and spend a day waiting in line in a hospital emergency room — or perhaps simply see his local emergency room boarded up. I’d like to see the President step up to the plate and have the Federal government cover the costs of the social services, imprisonment, and freeway expansion needed to accommodate the massive illegal population — and I’d like to see him do it with a marginal tax on his rich friends. I’d also have liked to see President Bush enroll his children in schools dominated by kids with little interest in learning English — or completing their education. And I’d like to see the President support his family on the income of a native born dry-waller, roofer, nanny or lanscape laborer in California, the sort of folks who have seen their incomes slashed in last 20 or 30 years.

The most uncivil thing imaginable in a democracy is to repeatedly toss out the Big Lie in the midst of debate on matters of importance to the public. It’s what the President has been doing, and conservatives need to call him on it.

Posted in Immigration | Comments Off on The President Says