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Unleash Prosperity Hotline
Issue #1258
05/06/2025
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1) The Decline in IPOs Is Bad News for America's Investor Class

This is a troubling trend: the number of fast-growing, middle-sized companies that are going public is in dramatic decline.

The more than 100 million Americans with 401k plans and other retirement funds need to be able to invest in a wide catalog of companies beyond Amazon, Apple, Boeing, Google, Walmart, and the like if they are to be fully diversified.

The charts below show the decline in the number of IPOs and the amount of money raised.

The Ernst & Young report found 2023 and 2024 IPO issuances "remained well below the pre-2020 10-year average of $45 billion per year."

This year, IPOs have been rare so far as well.

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There are many explanations, but we agree with a report by Russell Investments that one reason IPOs are on the decline is "SEC-driven increased regulatory and expense burden for public companies."

We hope that new SEC chairman Paul Atkins reduces these costs so all Americans can have access to returns of up and coming new American companies.
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2) The Best Interior Secretary Ever?

Interior Secretary Doug Burgum and the Energy Secretary Chris Wright have been pushing forward with a simple but (for Washington) radical idea: let the free market run our American energy policy.

Here's his latest post that explains this new common-sense strategy:

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We couldn't say it better ourselves.
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3) Salty States

Yesterday, we showed ([link removed]) the Congressional Districts with SALT taxpayers, which were overwhelmingly blue. Today, we share the state ranking table, in which 9 of the 10 states with the most SALT taxpayers voted for Kamala Harris.

Why do Republicans want to bail out millionaires in blue states?
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4) Nuke the California Gas Car Ban

Last week 35 House Democrats broke ranks ([link removed]) to join House Republicans and ban California's special waiver that enables its ban on internal combustion vehicles.

We thought some bipartisan sanity was finally breaking out on car bans, which are a favorite of the elites, but despised by voters.
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Not so fast. Chuck Schumer says overturning the California gas car ban is a "nuclear option" and threatens Senate Majority Leader John Thune with retaliation if he brings it up for a Senate vote:
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This is what Schumer wrote to Thune:

If the current Senate Majority were to open this door, the CRA could be weaponized to retroactively invalidate decades of agency actions--including adjudications, permits, and licensing decisions that were never previously considered "rules"--and effectively hijack the Senate floor.

When you put it that way... having this vote sounds even better. Agency decisions never before submitted to Congress for review SHOULD be removed from the books. This is a way to save democracy.

Our advice: Go ahead and nuke the car ban and score a win for consumer choice.
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5) Welfare Spending Explodes But Poverty Still Remains High

We are getting sick and tired of this media and Democrat tirade that the Trump budget makes "savage cuts in poverty prevention programs."

We rarely repeat a chart that we've shown before, but this one shows that we spend twice as much on welfare as it would cost to pull everyone out of poverty. So where do hundreds of billions of these dollars wind up? In the welfare industry's pockets and in the bank accounts of fraudsters who are stealing money from taxpayers with impunity.

Note to The New York Times: preventing fraud is NOT a cut in welfare benefits. So just shut up!
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6) No Wonder Foreign Aid Doesn't Work

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