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[2 Sep 2014 | No Comment | ]

Zerohedge on the post-TARP “benefits” of Eric Cantor.

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[2 Sep 2014 | No Comment | ]

Politico reports:Tepid fundraising, underperforming candidates and a lousy party brand are threatening to deprive House Republicans of the sweeping 2014 gains that some top party officials have been predicting this year.POLITICO interviewed more than a…

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[2 Sep 2014 | No Comment | ]

Hot Air inteviews Rep. Jeb Hensarling (R-TX), chair of the House Financial Services Committee, :

Supporters of Ex-Im claim that the bank doesn’t actually cost taxpayers any money, but Hensarling disagrees. Ex-Im uses “funny Washington” accounting, not true-value GAAP accounting, which the CBO says would show that Ex-Im really does cost taxpayers. The real point, according to Hensarling, is that Ex-Im conducts political and ideological lending, not free-market lending. “Ultimately, this is about bureaucrats making decisions about credit allocations,” Hensarling said, “and not free people in a competitive marketplace. They do ideological lending,” Hensarling continued. “I mean, they’ve got a “green” quota. They have a no-coal policy. They have a sub-Sahara African lending mandate. … And then, there’s all the cronyism.” Since 98% of all exports are financed outside Ex-Im, the argument that closing Ex-Im will seriously damage the American economy isn’t serious, Hensarling argued.

The greedy rent-seekers will spin tall tales to promote their fraud.

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[29 Aug 2014 | No Comment | ]

City Journal on rent-seeking out of control:

Modern “progressives” are not, as some economic conservatives would say, socialists. In fact, today’s so-called progressives are not even particularly progressive, at least in the usual sense of seeking to redistribute wealth from rich to poor. As Fred Siegel has noted, contemporary progressivism is an upper-middle-class movement that caters to the social libertarianism of coastal elites, while paying lip service to left-wing economic concerns. Even when modern progressives do support economic development, they often do so in ways that stand traditional progressivism on its head—redistributing wealth upward to favored industries.

It would be hard to find a better example of this than Governor Andrew Cuomo’s announcement last month that New York State will lavish $16 million in giveaways on CBS to keep The Late Show in Manhattan when urbane hipster Stephen Colbert succeeds David Letterman as host next year. The CBS handout follows an even sweeter deal for NBC, which received over $20 million in tax credits and other funding to bring The Tonight Show back to New York from Los Angeles when Jimmy Fallon took over from Jay Leno as host earlier this year. The Tonight Show didn’t actually qualify for the state’s $420 million-a-year film and television production tax-credit program, which excludes talk shows. But Cuomo asked the state legislature to carve out an exception for “a talk or variety program that filmed at least five seasons outside the state prior to its first relocated season in New York” and is “filmed before a studio audience of two hundred or more.” E.J. McMahon of the Empire Center for Public Policy branded the provision “Jimmy’s Law.”

No wonder the entertainment industry wants a statist society: they enjoy ripping off taxpayers. No word yet on when Obama and Dick Durbin will ask the Hollywood types to pay their fair share as an act of patriotism.