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Hey, Republicans! America Doesn’t Need a Second “Government Party”

Posted by M. C. on November 13, 2023

Meanwhile, it just so happened that Wednesday was also the day on which the run rate of interest on the public debt crossed the $1 trillionper year mark. That implies a fiscal catastrophe of staggering dimensions is fast barreling down the pike.

Yet in their closing statements did even one of the five candidates address this issue? Did these wanna be standard bearers for the Republican Party even know that the safeguarding of fiscal sobriety in the tussle of American democracy is the very reason for the GOP’s existence?

By David Stockman

David Stockman’s Contra Corner

The GOP debaters in Miami Wednesday night might as well have been swathed in war paint. After two hours of endless blathering about Foreign Wars, Border Wars, Culture Wars, Drug Wars, China Wars etc. it was hard to form any other impression about the agenda of today’s GOP.

To be sure, Vivek Ramaswamy gets a hall pass on the matter because he did nail the worst warmonger in the group, Nikki Haley, with his “Dick Cheney in three-inch heels” zinger. Indeed, the entire quote is worth replicating because it’s obvious that as a Republican no one ever heard of, Vivek hadn’t gotten the neocon memo about Washington’s duty to police the planet:

I want to be careful to avoid making the mistakes from the neocon establishment of the past. Corrupt politicians in both parties spent trillions, killed millions, made billions for themselves in places like Iraq and Afghanistan, fighting wars that sent thousands of our sons and daughters, people my age to die in wars that did not advance anyone’s interests. Adding $7 trillion to our national debt. And Joe Biden sold off our foreign policy. Joe Biden’s son, Hunter Biden, got a $5 million bribe from Ukraine. That’s why we’re sending $200 billion back to that same country.

The fact of the matter is, the Republican Party is not that much better. You have the likes of Nikki Haley, who stepped down from her time at the UN, bankrupt or in debt, as was her family. Then she becomes a military contractor. She joins the board of Boeing and otherwise and is now a multi-millionaire. So I think that that’s wrong when Republicans do it or Democrats do it. That’s the choice we face. Do you want a leader from a different generation who’s going to put this country first, or do you want Dick Cheney in three-inch heels?

Still, there is actually something more deeply awry in Republican land than merely its zealous embrace of the neocon Forever Wars. The modus operandi that all the above-mentioned GOP wars have in common is the active deployment of government power to purportedly do good and thwart evil.

That is to say, the pitch amounts to “elect Republicans and we will power-up the state to make domestic society better and the world safer because we are more virtuous than the Dems”.

Yet what in the world does that have to do with the core anti-state mission of the Opposition Party in the contest of democratic politics?

After all, the do-gooder agenda has already been pre-empted by the Dems’ Government Party with its legions of liberal pols, well-fed interest groups and statist constituencies of every shape and form. There is no point now, and never has been, in me-tooism, RINO fakery and junior status in the Washington Uniparty.

So by definition, the Opposition Party needs to ground itself in conservative constitutionalism and advocacy for personal liberty and free markets at home and peaceful commerce abroad. Everywhere and always, therefore, the first priority of the Opposition Party must be shackling, minimizing, draining and constraining the power and resources of the state because by the very nature of the beast, government is self-aggrandizing and expansionary. And that’s most especially true on the Warfare State side of the equation.

Moreover, in the case of whatever societal problems the state might productively address, if any, the “Government Party” of the Dems will inherently grab first dibs. The Opposition Party will never out-bid them and shouldn’t try. As a matter of political competition, therefore, its strategy should be to throw endless shade on government and all its misbegotten works.

Accordingly, the Opposition Party’s brand should center on:

  • Celebrating the capacity of private society, free markets, civil institutions, families, citizens and other non-government actors to achieve the goods things of life, which humans in all their varieties and stations inherently strive for.
  • Debunking, exposing, attacking and ridiculing the inherent tendency of the state and its agencies and apparatchiks to abuse government power, waste the resources its has extracted from the public and to succumb to capture by nefarious actors, ranging from the military-industrial complex to Big Pharma, the farm lobby, the teachers’ unions and all the other feeders at the public trough.

Needless to say, the “war against….” rhetoric of today’s GOP embodies exactly the wrong tone and message. It essentially involves a misguided attempt by the putative “conservative” party to identify an alternative slate of societal problems which require government ministrations, albeit in a business-like Republican-style.

For instance, nearly to a man and woman, the five candidates took turns declaiming against the plague of fentanyl, promising to bring down the wrath of Washington on the alleged Chinese suppliers of the precursor components and the Mexican cartels which formulate it and bring it across the border. DeSantis even said he would “smoke” them on the Mexican side of the Rio Grande—the implied invasion of another country to the contrary notwithstanding.

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How DEI Is Supplanting Truth as the Mission of American Universities

Posted by M. C. on November 13, 2023

An obsession with diversity, equity, and inclusion threatens students, professors, and the very credibility of higher education in the U.S.

https://www.thefp.com/p/how-dei-is-supplanting-truth-as-the

By John Sailer

One of the things The Free Press has been doing since its inception is documenting and exposing how many of our most important institutions—medicinethe mediathe law—are increasingly being captured by an ideology that is hollowing out their core functions.

Today, John Sailer, a fellow at the National Association of Scholars, tells the story of how that’s happening at American universities across the country.

You don’t have to have ever stepped foot on a college campus to care about the revelations in today’s piece. Because as we’ve seen again and again, what happens on campus doesn’t stay there. It’s just a preview of what’s coming for the rest of us. —BW

In June 2020, Gordon Klein, a longtime accounting lecturer at UCLA, made the news after a student emailed him asking him to grade black students more leniently in the wake of the “unjust murders of Ahmaud Arbery, Breonna Taylor and George Floyd.”

Klein’s response was blunt. It stated in part:

Thanks for your suggestion in your email below that I give black students special treatment, given the tragedy in Minnesota. Do you know the names of the classmates that are black? How can I identify them since we’ve been having online classes only? Are there any students that may be of mixed parentage, such as half black–half Asian? What do you suggest I do with respect to them? A full concession or just half? 

He went on:

Remember that MLK famously said that people should not be evaluated based on the “color of their skin.” Do you think that your request would run afoul of MLK’s admonition?

Thanks, G. Klein

Klein’s response enraged students. They organized a petition to remove him that quickly gained nearly 20,000 signatures, resulting in the professor being placed on leave and banned from campus. But the story got national attention, and a counter-petition signed by more than 76,000 people demanded his reinstatement. In less than three weeks, Klein was allowed to return to the classroom.

Yet his encounters with what UCLA calls Equity, Diversity and Inclusion were far from over.

Just under a year later, Klein, the author of a textbook on ethics in accounting, was up for a merit raise. For the first time in his 40 years at UCLA, Klein told me he had to submit a statement on equity, diversity, and inclusion. UCLA had adopted this as a promotion requirement in 2019, and now demands that all faculty members express how they will advance these principles in their work, and how their mentoring and advising helps those “from underrepresented and underserved populations.”

Klein inquired of the EDI office just what groups of students they meant. When they failed to reply, he wrote a dissent he made available to me, which reads in part:

“I find it abhorrent for the University to encourage faculty members to classify and prioritize students based on their group identities. I intend to continue helping all students equally, regardless of their backgrounds.”

Although his previous teaching evaluations were sterling, and he had received prior merit raises, this one was declined. Klein has brought suit against UCLA.

The struggle between Klein and UCLA represents a major shift in the mission of higher education in America.

The principles commonly known as “diversity, equity, and inclusion” (DEI) are meant to sound like a promise to provide welcome and opportunity to all on campus. And to the ordinary American, those values sound virtuous and unobjectionable.

But many working in academia increasingly understand that they instead imply a set of controversial political and social views. And that in order to advance in their careers, they must demonstrate fealty to vague and ever-expanding DEI demands and to the people who enforce them. Failing to comply, or expressing doubt or concern, means risking career ruin.

In a short time, DEI imperatives have spawned a growing bureaucracy that holds enormous power within universities. The ranks of DEI vice presidents, deans, and officers are ever-growing—Princeton has more than 70 administrators devoted to DEI; Ohio State has 132. They now take part in dictating things like hiring, promotion, tenure, and research funding.

More significantly, the concepts of DEI have become guiding principles in higher education, valued as equal to or even more important than the basic function of the university: the rigorous pursuit of truth. Summarizing its hiring practices, for example, UC Berkeley’s College of Engineering declared that “excellence in advancing equity and inclusion must be considered on par with excellence in research and teaching.” Likewise, in an article describing their “cultural change initiative,” several deans at Mount Sinai’s Icahn School of Medicine declared: “There is no priority in medical education that is more important than addressing and eliminating racism and bias.”

DEI has also become a priority for many of the organizations that accredit universities. Last year, the Council for Higher Education Accreditation, along with several other university accrediting bodies, adopted its own DEI statement, proclaiming that “the rich values of diversity, equity and inclusion are inextricably linked to quality assurance in higher education.” These accreditors, in turn, pressure universities and schools into adopting DEI measures.

Much of this happened by fiat, with little discussion. While interviewing more than two dozen professors for this article, I was told repeatedly that few within academia dare express their skepticism about DEI. Many professors who are privately critical of DEI declined to speak even anonymously for fear of professional consequences.

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Here’s Why the Renewable Energy Agenda Won’t Work… And What It Means For Investors

Posted by M. C. on November 13, 2023

Apart from the obvious (the US for all intents and purposes has no strategic oil reserve), there is a hell of a lot of buying that has to occur to build those reserves up. In other words, we aren’t going to see any selling pressure hereon in from the strategic reserve but rather a whole lot of buying. We suspect that Vlad Putin is well aware of this.

Let’s cut to the chase: the next 10 years will see a repeat of 2000-2010. The outperformance may well last for a lot longer than this. The essence is that we don’t have to be concerned at all about energy related stocks underperforming the general stock market for a very long time.

by Chris MacIntosh

We are reminded of the below words of wisdom…

We noticed lately an uptick in analysis and commentary that is questioning the climate change narrative. Pieces like this one:

Clearly this climate change narrative/ideology too shall pass like every fad, but it will take time. This is ok. It just means that we will see the fossil fuel sector (oil, gas, coal, and related services) continually outperform the S&P 500 over the next 10+ years.

Take China… It Doesn’t Care…

I assure you, China doesn’t care about the ESG nonsense. What’s interesting is China’s dependency on coal – some 64% of their electricity comes from coal.

China produces (from domestic sources) about 85% of the coal it consumes (granted, this includes both coking and thermal coal).

With respect to coal, China has two big problems, and few appreciate the magnitude of the problems.

Firstly, China only has 35 years of coal reserves at today’s consumption levels, and secondly, the grade of those reserves is deteriorating. In other words, it is taking more coal to produce the same amount of heat.

Not only this but China wants to increase coal-fired power stations by 20-30% over the next 10 years or so. Where is all this coal going to come from if the volume and quality of China’s reserves are deteriorating?

This Bloomberg article highlights the deterioration in China’s coal grades.

From the article:

China’s coal imports, including low-grade lignite, climbed to an all-time high of 44 million tons in August, while domestic production of 382 million tons was also a record for the time of year. Imports over the first eight months have nearly doubled to 306 million tons, more than the country usually takes in a whole year.

The increases in supply come as the government seeks to avoid the power shortages that have crippled the economy in recent years. China’s rush to extract more coal has also degraded the quality of its domestic output so that more fuel is needed to generate the same amount of heat.

When energy security is discussed, few pay second thought to coal (particularly in light of today’s climate change ideology). China is going to have to source an increasing amount of coal from other countries, and there is only a few they can source it from (unlike oil).

How about the US? Only 17 days left ?!

While US government shutdowns make the headlines, quietly in the background the US only has 17 days of supply left in its strategic reserve.

Apart from the obvious (the US for all intents and purposes has no strategic oil reserve), there is a hell of a lot of buying that has to occur to build those reserves up. In other words, we aren’t going to see any selling pressure hereon in from the strategic reserve but rather a whole lot of buying. We suspect that Vlad Putin is well aware of this.

Would this be an opportune time to hit back at the US? Rockets, bombs, tanks — that is the way old fashioned wars were played. Yeah, it is still how regional conflicts are played, but wars on a global scale are likely to be fought using energy as the weapon of choice.

What is going on here?

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The Innovation Algorithm

Posted by M. C. on November 11, 2023

Because ignorance is more than bliss…

Rather than investing our hopes and dreams in technologies that reduce them to data and numbers, we should be devoting our time and money to the creation of things that endure, things worth engaging in the first place. Like faith. Like strong families. Like strong communities.

https://qolrm.substack.com/p/the-innovation-algorithm

Jeff Einstein

Aren’t we all?

I woke up the other day only to realize that I’m the stupid everyone else is with…

Call me Ishmael. Our obsessive quest for precision and certitude via all things digital is a great white whale that — like Ahab — we chase at our own peril. Of course, great white whales aren’t designed to be caught, only chased. But now — two generations later and well past the point of no return — we find that our ability to innovate in the overwhelming evidence of diminished performance across all social metrics is likewise compromised and greatly diminished.

We need to disabuse ourselves ASAP of the narcotic but tragic notion that innovation is a byproduct of technology, and that every problem will be solved as better technologies inspire better metrics, better methodologies, and better management decisions. This blind and backwards faith in better life through better technology inhibits and truncates our true ability to innovate in much the same manner that our massive inventories of time-saving devices now consume and steal so much of our precious time. As Dr. Phil might ask: “How’s it workin’ for ya?”

In response to the above, I’d like to re-introduce my formula for innovation, the same formula I introduced a couple of decades ago at a digital tech conference when it was already painfully apparent that we had surrendered our individual and collective futures to swarms of youthful, well-funded technologists who — predictably and without delay — converted the financial, media, marketing, and entertainment industries into ersatz extensions of global technology companies. So here’s my formula for innovation…

Ignorance + Intent = Innovation.

Translated into less secular terms, the same formula might read…

Uncertainty + Faith = Inspiration.

Both are predicated on our willingness to embrace what we don’t know as the path to wisdom. Ignorance, I argued at the conference, has much to recommend it, including an endless supply, its juxtaposition as the first step of every journey, and the lack of demand to drive up the price on the back end. Ignorance, it seems, is a much better place to start a journey than to end one.

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TGIF: When History Didn’t Begin

Posted by M. C. on November 11, 2023

Strangely, the Israeli government says Guterres did not condemn the horrendous Hamas violence against Israeli civilians. Israel’s position apparently is that even to remind people that history did not begin on October 7 is to justify murder, kidnapping, and mayhem.

https://libertarianinstitute.org/articles/tgif-when-history-didnt-begin/

by Sheldon Richman

guterres

I agree with UN Secretary-General Antonio Guterres. I’ve never written those words before. But on Oct 24, Guterres said to the UN Security Council (emphasis added):

The situation in the Middle East is growing more dire by the hour.

The war in Gaza is raging and risks spiralling throughout the region.

Divisions are splintering societies. Tensions threaten to boil over.

At a crucial moment like this, it is vital to be clear on principles — starting with the fundamental principle of respecting and protecting civilians.

I have condemned unequivocally the horrifying and unprecedented 7 October acts of terror by Hamas in Israel.

Nothing can justify the deliberate killing, injuring and kidnapping of civilians – or the launching of rockets against civilian targets.

All hostages must be treated humanely and released immediately and without conditions. I respectfully note the presence among us of members of their families…..

It is important to also recognize the attacks by Hamas did not happen in a vacuum.

The Palestinian people have been subjected to 56 years of suffocating occupation.

They have seen their land steadily devoured by settlements and plagued by violence; their economy stifled; their people displaced and their homes demolished. Their hopes for a political solution to their plight have been vanishing.

But the grievances of the Palestinian people cannot justify the appalling attacks by Hamas. And those appalling attacks cannot justify the collective punishment of the Palestinian people….

What was the reaction? Israel’s government demanded that Guterres resign for justifying (sic) Hamas’s crimes. According to statements from Israeli UN ambassador Gilad Erdan and foreign minister Eli Cohen, Guterres therefore is unfit for his job.

According to the officials, Guterres’s offending words were these: “the attacks by Hamas did not happen in a vacuum.” Those words preceded Guterres’s reference to what the Palestinians in the Gaza Strip and the West Bank endured under Israeli occupation since 1967.

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Our Potemkin Presidency

Posted by M. C. on November 11, 2023

The current American system of government is incoherent without assuming great capacities in the ultimate boss. But collusion between politicians and the media suppress the truth about incapacity in the White House. This problem existed long before Biden, and it will continue after he returns to Delaware for his final vacation.

by James Bovard

The Founding Fathers sought to create a government that would be under the law and under the Constitution. Since World War One, presidents have amassed far more arbitrary power to rule by decree. Every recent American commander-in-chief has expanded and exploited the dictatorial potential of the presidency. Yet, because elections continue to be regularly held, most Americans do not think of the nation’s chief executive as a despot.

For generations, American politicians spoke reverently of the Constitution as America’s highest law. In the 1800s, presidential candidates would compete by attesting their fidelity to the nation’s founding document. But in recent years, the Constitution has fallen into disrespect. The rule of law now means little more than the enforcement of the secret memos of the commander-in-chief.

Power has been concentrated in the White House in part because the friends of Leviathan favor policies that cannot survive the light of day or open debate in the halls of Congress. Pundits pretend the system remains on automatic pilot to serve the citizenry just like in the early days of the American republic. Advocates for centralized power have talked as if they were deluded by some political perversion of the mystic advice in the movie Field of Dreams: “Gather all the power, and the noble leader will come.”

Wild-eyed optimism about the character and competence of American presidents should have received far more ridicule, but what happens when the absurdities become too great to hide?

This has been a problem in the United States for most recent presidents, but the issue is most intense with the current chief executive.

Sleepy Joe’s rapid decline

President Biden seems increasingly distanced from the day-to-day duties of his office. In June at the Air Force Academy graduation in Colorado, Biden stumbled leaving the podium and hit the platform as hard as if he’d been dropped from a low-flying helicopter. It took multiple Secret Service agents to eventually get the president back on his feet.

Visiting Japan for a summit in May, Biden uncorked a 40-second utterly incoherent answer to a question that mystified even his biggest devotees. Some commentators speculated that the jet lag and time difference undermined the drugs that Biden routinely takes to spur apparent mental sharpness.

In a bizarre finish for a recent MSNBC puff piece appearance, Biden practically jumped out of his chair and shuffled off stage like a hungry geezer responding to the dinner bell at the nursing home.

Biden took off almost the entire month of August for vacation. His repose was interrupted by a brief visit to Maui, the scene of a horrific fire that had left hundreds dead and thousands homeless. Biden pirouetted in front of the audience and claimed a minor kitchen fire that occurred in his Delaware home a few decades earlier — in which he almost lost his cat, his 1967 Corvette, and his wife — was on par with the devastation suffered by Maui residents. Political leaders in Hawaii were covering up a vastly higher death toll than they admitted — and many if not most of the fatalities were due to profound government failures.

By the end of August, Biden “spent all or part of 382 of his presidency’s 957 days — or 40 percent — on personal overnight trips away from the White House, putting him on pace to become America’s most idle commander-in-chief,” the New York Post reported.

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ATF Director Says Assault Weapons Ban Now On His “Wish List”

Posted by M. C. on November 11, 2023

Another NON-elected official calling the shots.

Turning the nation into a giant Chicago.

https://www.zerohedge.com/political/atf-director-says-assault-weapons-ban-now-his-wish-list

by Tyler Durden

Friday, Nov 10, 2023 – 11:00 PM

Submitted by Gun Owners of America,

Looks like Biden’s ATF director has drastically changed his views from his Senate confirmation hearing.

During a recent interview with Caroline Light, the Director of Undergraduate studies in Women, Gender and Sexuality at Harvard University, ATF Director Steve Dettelbach was asked about his gun control “Wish list.”

Steven Dettelbach (right) with historian Caroline Light (left). Source: Harvard 

According to Harvard Magazine, ATF Director Dettelbach answered that he’d like to revive the federal prohibition on “assault weapons,” which expired in 2004. 

The so-called “assault weapons” that Dettelbach refers to are commonly owned modern sporting rifles that 1 in 20 Americans own.

This is a drastic change from Dettelbach’s nomination hearing, where he promised to be a fair regulator and only use the tools that Congress gave him.

These words earned him his nominations from holdouts like Senator Angus King of Maine and West Virginia Senator Joe Manchin.

Senator King was credited with torpedoing the previous ATF director nominee, David Chipman.

Chipman, a former ATF agent and veteran of the gun-control lobby, was withdrawn after his views on firearms confirmed that he would be antagonistic towards the firearms industry as a regulator.

Dettelbach was seen as a law enforcement candidate, with a background as a United States Attorney who promised to “never let politics in any way influence my action as ATF director.”

It is clear that Director Dettelbach has become a gun-control advocate in the vein of David Chipman. In fact, according to the National Shooting Sports Foundation, no ATF director has ever advocated for an assault weapon ban until now.

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Guess What Was Hiding in That 1000-pg Bill

Posted by M. C. on November 10, 2023

Now the question is, how much time do you have once your dashboard tells you that it doesn’t approve of your driving? What if you’re a single mother and you’re out on a in bad weather and you’re trying to avoid some obstacles? Ice perhaps. And you’ve swerved three times and your dashboard says: swerve one more time and you’re going to be put over to the side of the road, that you’ll have 100 yards to park this vehicle in the middle of nowhere with your children in the back seat.

This isn’t some fantastical scenario. This is what will happen if this is implemented.

Will it need to know where you are when you are driving? If so, who has access to this data? Who has access to those cameras? Will the Fourth Amendment be followed? Will you require a warrant for your insurance company to access this data? Will you require a warrant for the government to access this data once your car has been disabled and now you’re on the side of the road with your children in it for reasons you don’t understand?

By Tom Woods

From the Tom Woods Letter:

You may have heard that as of yesterday, it’s been decided that beginning in 2026 all cars sold in the United States will be equipped with a “kill switch,” whereby the car can be disabled remotely if it is determined that you are driving poorly.

Rep. Thomas Massie sought to defund this provision of the Infrastructure Investment and Jobs Act, a bill of over 1000 pages. His amendment was defeated.

But I want you to see the difference in how he argues from how the Democrats argue. You’ll see it immediately.

First Massie:

My amendment is simple. It will defund the federal mandate that requires all new vehicles after 2026 be equipped with a kill switch that can disable a vehicle if the vehicle has monitored the user’s the driver’s performance, and that the vehicle determines that the driver is not performing well.

It’s so incredible that I have to offer this amendment. It almost sounds like the domain of science fiction, dystopian science fiction, that the federal government would put a kill switch in vehicles that would be the judge, the jury and the executioner on such a fundamental right as the right to travel freely. But here we are. It is federal law that this is mandated. And so I am offering this amendment to defund this mandate.

Then Rep. Debbie Wasserman-Schultz (D-FL) delivers her response:

I rise in opposition to this amendment. Let me be clear. This this the act that the gentleman is trying to defund does not require auto manufacturers to install kill switches. It does not do that. Passive drunk driving technology is a vital tool in safeguarding our loved ones and other innocent people on our roads. This new technology offers a lifeline of hope to not only save lives, but to prevent the lifelong emotional toll and gargantuan costs these accidents inflict on families. Deadly drunk driving accidents can echo across generations, but we can seize this opportunity to stop such tragedies.

Between 2019 and 2021, Florida saw a 31% increase in drunk driving crashes in Mr. Massie’s home state of Kentucky, 190 people were killed in drunk driving crashes in 2021 alone. That was a 26% increase. When we saw these grim statistics, we acted in a bipartisan fashion in Congress. And how often do we see that both Republicans and Democrats supported the Halt act to require auto manufacturers to make this passive technology standard in new vehicles?

The sponsor of this misguided amendment will tell you that he worries about privacy concerns. We heard the same inane calls with seatbelt requirements. But you don’t have a right to engage in potentially fatal behavior that we know poses a major health threat to public safety. Passive drunk driving technology is pro-police. This anti-drunk driving technology lightens the load on police officers, allowing them to focus on more pressing safety concerns. The importance of this technology goes far beyond statistics. It’s about saving lives, preventing heartbreak and making our roads safer. It’s a passionate call to action to prevent alcohol-impaired driving from shattering the lives of those we hold dear.

This amendment, I understand, was dubbed the kill switch amendment and it does not require a kill switch. It simply allows, it simply requires passive technology to help us prevent drunk driving. In the name of the 406 people who that were killed by a drunk driver in my own state of Florida last year alone, I urge my colleagues to vote no on this amendment. Let’s take steps to reduce deaths due to drunk driving, not increase them.

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IRS Warns Over Tax Withholding, Announces Higher Retirement Contribution Limits

Posted by M. C. on November 10, 2023

This move to bolster retirement contributions stands in stark contrast to recent data from the Bank of America highlighted by the Epoch Times, which has indicated a distressing trend of growing hardship withdrawals from 401(k) accounts. The uptick—36 percent higher than the same time last year—signals that despite the IRS’s incentivizing higher savings rates, financial hardships are compelling a significant number of Americans to dip into their retirement funds prematurely.

Thank you congress and federal reserve.

https://www.zerohedge.com/political/irs-warns-over-tax-withholding-announces-higher-retirement-contribution-limits

Tyler Durden's Photo

by Tyler Durden

As 2023 draws to a close, the Internal Revenue Service (IRS) has issued a call to action for taxpayers to reassess their withholding settings, a proactive step that could spare many from unforeseen tax bills or overpayments in 2024.

In a November 3rd advisory, the IRS underscored the importance of this review, emphasizing that a year-end adjustment, although late in 2023, could prevent the dual extremes of an inflated refund or an unexpected balance due when filing taxes. This guidance comes with the revelation that approximately 70 percent of taxpayers traditionally over-withhold, leading to refunds that essentially amount to interest-free loans to the government.

“Although it’s best for taxpayers to verify withholding early in the year, an adjustment made in the final weeks of 2023 could still help to avoid an unexpected result, such as a big refund or a balance due, when filing taxes next year,” the agency said.

Conversely, the sting of under-withholding is not to be underestimated. Taxpayers who find themselves on this end of the spectrum risk facing a significant financial hit come tax season, which could be exacerbated by penalties and interest for unpaid taxes accruing from the return’s original due date. Beyond the immediate financial impact, such tax debts can also have lasting repercussions on credit scores and, in severe cases, may result in wage garnishments, property liens, or even imprisonment.

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Running On Censorship: A California Candidate Seeks To Ride The Anti-Free Speech Wave

Posted by M. C. on November 10, 2023

He might win as the people with 2 or more active brain cells are leaving the state.

https://www.zerohedge.com/political/running-censorship-california-candidate-seeks-ride-anti-free-speech-wave

Tyler Durden's Photo

by Tyler Durden

Thursday, Nov 09, 2023 – 08:20 PM

Authored by Jonathan Turley,

It is not easy to unseat an incumbent in Congress, but Will Rollins believes that he has hit on a guaranteed winner to galvanize Democratic support in California’s 41st congressional district.

He is pledging to push for greater censorship to stop those “profiting by spreading division based on lies.”

Of course, the former assistant U.S. Attorney suggests that he will know who is lying and who should be allowed to speak freely.

Rollins is also running on his role “prosecuting insurrectionists” from January 6. While most of us condemned the riot on that day and supported the prosecution of those who broke into the Capitol, polls show that most Americans do not view what occurred as an actual insurrection or rebellion.

That, however, is a legitimate matter of debate and people of good faith can differ in how they view the crimes committed that day. What is far more serious is the embrace of censorship as a political cause.

Rollins pledged to stop people saying things that “erode our democracy.” His policy platform promises “accountability” for tech platforms that “spread conspiracy theories” and do not yield to demands for censorship. It appears to be a pitch to restore censorship systems on sites like X but also pledges to go after “media outlets.”

He is not alone in such efforts. Democratic members caused a firestorm previously by writing to cable carriers like AT&T to ask why they are still allowing people to watch FOX News. Rollins promises to crackdown on “propaganda networks to protect the public’s right to be informed.” He does not identify which networks would be targeted, but the assumption is that it is not MSNBC. (For full disclosure, I am a legal analyst on Fox News). However, he wants ramped up penalties for anything that he considers “harmful lies and conspiracy theories.”

Of course, one person’s “conspiracy theory” is another person’s news. It is again unlikely that Rollins will be pursuing the Washington Post which recently reaffirmed that it is standing by past false claims made about Lafayette Park, the Hunter Biden laptop, and Russian collusion. Rollins is not likely referencing the false conspiracy theories funded by the Clinton campaign like the Alfa Bank allegations.

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