Chet Collins

Cost of Democrats’ Corporate-Tax Increase Skews to Wealthy, Reaches Middle Class - WSJ

“These companies are playing the most games, and avoiding tax by manufacturing their drugs, phones, and shoes abroad,” Senate Finance Committee Chairman Ron Wyden (D., Ore.) said. “This is a minimum tax for tax dodgers stamping ‘Made in China’ on their products.”

They’re playing the game by the rules that you wrote, sir.

Equifax Sent Lenders Inaccurate Credit Scores on Millions of Consumers - WSJ

“The impact is going to be quite small,” Mr. Begor said, “not something that’s meaningful to Equifax.”

Terrible quote from an even worse company.

Rivian Says Senate Climate Deal Puts It at Disadvantage - WSJ

The company, in particular, takes issue with a planned cap that would make any electric trucks, SUVs and vans selling for more than $80,000 ineligible for the federal subsidy. It also opposes the proposed income restrictions. Buyers with household incomes of $150,000 or higher—$300,000 for married couples—wouldn’t qualify for the credit on new EV purchases.

Sorry, Rivian, but the government picked you as a loser.

Justice Department Files Lawsuit Challenging Idaho Abortion Law - WSJ

The Justice Department says Idaho’s abortion restrictions unlawfully conflict with a federal law that requires hospitals accepting Medicare to provide emergency treatments, which can sometimes include abortion.

I must’ve missed all of those DOJ lawsuits against states and municipalities “decriminalizing” marijuana, a Schedule 1 Narcotic. Growth, sale, and distribution is a serious federal offense. These massive grow operations and retail distributions are so out in the open, DOJ must be dunking on all of those cases!

I know well, answers Jesus Christ, that one drop of my blood, or a simple prayer, would be sufficient for the salvation of the world. But neither would be sufficient to show the love which I bear to men.

-St. Alphonsus Liguori

Putin Awards Self Medal Of Freedom For Dropping Gas Prices - Babylon Bee

After months of singlehandedly raising America’s gas prices without any help whatsoever from the Biden administration, Russian President Vladimir Putin has mercifully given Americans a short break by lowering the price at the pump. For his benevolence and valor, he has awarded himself the Presidential Medal of Freedom.

‘Inflation Reduction Act’ Is an Insult to Used-Car Salesmen - WSJ Opinion

If a bill that reduces the deficit by $300 billion over 10 years represents “inflation reduction,” what are we to make of a law Congress passed last year that increased the deficit by an estimated $1.7 trillion in less than two years?

Field Notes are a delight.

Federal Student-Loan Program Cost Estimate Was Off By $311 Billion, Government Watchdog Says - WSJ

According to Friday’s GAO report, which examined the federal program dating back to 1997, it lost money on loans issued in all but one year over the past quarter-century. Originally, the Education Department estimated the loans would generate $6 in income per $100 lent out. The GAO analysis found the loans wouldn’t make money, but actually cost the government $8.88 per $100 in loans.

Democrats Quickly Redefine ‘Loss’ After Losing Congressional Baseball Game - Babylon Bee

“Yes, some sports commentators have defined ‘loss’ as any game in which you have fewer runs than the opposing team,” acknowledged Pelosi. “But there has never been an officially accepted definition. And many experts are saying this was not actually a loss.”

Watching YouTube on my tv. This is nice!

Security Alert - Update to Travel Advisory for Russia - U.S. Embassy & Consulates in Russia

Do not travel to Russia due to ongoing tension along the border with Ukraine, the potential for harassment against U.S. citizens, the embassy’s limited ability to assist U.S. citizens in Russia, COVID-19 and related entry restrictions, terrorism, harassment by Russian government security officials, and the arbitrary enforcement of local law.

(Emphasis in the original.)

This was issued January 23, 2022. Brittney Griner was arrested February 17th.

I don’t think we should trade arms dealers and murders to save Americans who can’t do the slightest amount of due diligence before traveling to a foreign adversary in order to make some extra cash.

The Biden Stagflation Arrives - WSJ Opinion

Mr. Biden inherited a growing economy primed to roar back from the pandemic, and in barely a year and a half he has dragged America back to the 1970s. The best word for what we have now is stagflation, the ugly combination of slow growth and rapidly rising prices. This is what the policy mix of trillions in federal spending, heavy regulation, the threat of higher taxes, and easy money has wrought. Time to do the opposite.

There will be entire books and college courses dedicated to the study of how an economy primed for success was so quickly wrecked.

The Lonely Office Is Bad for America - WSJ Opinion

People starting out need offices to learn a profession, to make friends, meet colleagues, find romantic partners and mates. The #MeToo movement did a lot to damage mentoring—senior employees no longer wanted to take the chance—but the end of office life would pretty much do away with it.

Ending office life severs one more mooring to reality. People become more insulated in their own echo chamber and isolated from a diversity of thought and ideas.

The unhealthiest aspect of the pandemic was how it drove us apart. We became afraid of each other, trapped in our social bubbles. That isolation led to the spike in irrational behavior and decline in mental health.

We don’t need to have hour long commutes to spend our days with horrible bosses, but we’re social beings. We are meant to be together. We need to see, think, and feel like our work matters, that we’re part of a group of people making the lives of others better.

The Senate GOP Got Played - WSJ Opinion

Republicans helped Democrats pass a $1 trillion infrastructure bill last year full of green pork. They boasted about victories for permitting reform, while keeping out a tax increase and $80 billion that Democrats wanted for the Internal Revenue Service. Some victories. The Schumer-Manchin bill includes the $80 billion for the IRS and some $327 billion in new taxes. Mr. Manchin has also received the promise of a vote for a bill on permitting reform, which shows how weak the reforms were in the infrastructure bill.

This might be the most perfect sticker in my collection. I smile every time that I see it.

U.S. Presses Offer to Free Brittney Griner and Paul Whelan From Russian Detention - WSJ

The U.S. offered to release Russian arms dealer Viktor Bout in order to secure the freedom of Ms. Griner and Mr. Whelan, according to people familiar with the matter. 

Hey everyone, if the US has some folks that you want sprung, just take a few hostages! They fold every time.

Also of note, the hashish oil that Griner was busted with is a Schedule I narcotic. So she’d be criminally liable if she was caught with it in a US airport, too.

Biden: ‘I Don’t Know If We’re In A Recession, I’m Not A Biologist’ - Babylon Bee

America’s GDP has fallen over the last two quarters, stoking fears of a possible recession due to the fact that America is now in a recession.

U.S. GDP Rose Slightly in Second Quarter, Economists Estimate - WSJ

Economists surveyed by The Wall Street Journal estimated the Commerce Department will report Thursday that gross domestic product, the broadest measure of goods and services produced across the nation, rose at a 0.3% annual rate in the April-through-June period.

Posted two hours before the real number came out, the experts prove their intellectual chops yet again!

Gross Domestic Product, Second Quarter 2022 (Advance Estimate) - U.S. Bureau of Economic Analysis (BEA)

Real gross domestic product (GDP) decreased at an annual rate of 0.9 percent in the second quarter of 2022 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 1.6 percent.

Oops.

Hey, how about $739B in new taxes to fix this right up?!

Joe Manchin Reaches Deal With Chuck Schumer on Energy, Healthcare, Tax Package - WSJ

The IRS money, about $80 billion over a decade, would roughly double the size of the agency and be aimed at tougher enforcement, particularly on high-income households and corporations.

Most Americans have always complained that the IRS is too small. What we really need is an IRS twice in size!

A Recession by Any Other Name - WSJ Opinion

The president’s economic team should think twice before discounting the risk of a recession. After all, they stumbled into the current inflationary crisis after a year of trying to manipulate the language: Inflation was “transitory” and therefore of little concern until it eventually topped an annualized 9%. Let’s not stumble into a recession because the White House has political priorities that conflict with economic reality.

Let’s all have a good night. It’ll be a long news cycle tomorrow.

Senate Bill Takes Aim at Visa, Mastercard Credit-Card Fees - WSJ

Mr. Durbin spearheaded a similar rule for debit cards over a decade ago. The Durbin amendment, part of the 2010 Dodd-Frank law, requires that merchants have the ability to choose from at least two unaffiliated debit-card networks when routing transactions.

And it worked great for debit card users! All debit card rewards, points, and cash back programs were cancelled.

All this time since “tabs everywhere!” and Microsoft Office for Mac still doesn’t support tabs.

The worst!