Klobuchar Antitrust Bill Would Cost The Economy Tens of Billions of Dollars

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Unleash Prosperity Hotline
Issue #621
09/20/2022
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1) Klobuchar Antitrust Bill Would Cost Economy Tens Of Billions Of Dollars
With the Senate nearing adjournment until after the November elections, majority leader Chuck Schumer is plotting an eleventh-hour floor vote on the Klobuchar antitrust bill. He would need 60 votes to pass it, but this nightmare could happen because, alas, a number of GOP senators, including Chuck Grassley support it.

A new CTUP study from Arthur Laffer and Stephen Moore finds the bill would nearly double the Federal Trade Commission budget, the number of regulators, and the legal authority of the FTC to harass American businesses seeking to expand their operations. Even more dangerous, the bill would scrap the historical "consumer welfare standard" - i.e., are consumers being hurt by industry concentration - for a new antitrust theory that outlaws corporate behavior if it hurts competitors in the industry. This would effectively outlaw Amazon Prime because it is too efficient.

The agency’s chairman, super-regulator Lina Kahn would now have the resources to enable the FTC to challenge nearly every major merger and acquisition that is proposed between American companies. No Republican in the Senate who believes in the power of deregulation should be in favor of such a massive power grab by the FTC - one of the most intrusive of all regulatory agencies.

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2) Media Fact Checkers Give Biden A Free Pass

For years “fact-checking” outlets like PolitiFact, Snopes, and the Washington Post have leaned to the left when it comes to ruling on how “accurate” a statement is. PolitiFact has checked Donald Trump almost SIX times as often as they scrutinize Joe Biden.

Biden’s press secretary, Karine Jean-Pierre, has uttered many falsehoods in press briefings on everything from the inflation rate to the border crisis but still has not been fact-checked at all by Factcheck.org, the Associated Press, Reuters, Washington Post, or CNN.

No wonder a study by Pew Research uncovered that seven in 10 self-identified Republicans say fact-checkers tilt to one side, with nearly half of independents agreeing. And we know what side these fact-checking referees are on.

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3) The Real 21st Century Energy Revolution Is Shale Oil And Gas, Not Green Energy
We’ve been told by “the experts” that wind and solar are the energy sources of the future. But as Mark Mills of the Manhattan Institute points out, that isn’t even close to the truth. The surge in energy so far this century has been all from the shale revolution thanks to fracking and horizontal drilling technologies. Here are the numbers: The shale expansion added 800% more energy to the U.S. than did the (subsidized) growth of solar and wind combined.

The Biden administration, Europe, and the climate change industrial complex have picked the biggest loser energy sources and are discarding the most reliable power supply for the U.S. and the world. If this were some kind of intentional and diabolical plot to destroy the world economy, it would be hard to come up with a better strategy.


Growth of Shale Energy vs.Wind+Solar 2005–20,
Compared with Saudi Arabia Oil 1965–80
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4) King Charles Will Pay No Death Tax – What About The Rest Of The Country?
Queen Elizabeth’s death has brought attention to the unique British tax laws that exempt her successor, King Charles, from all inheritance taxes.

While the British royal family has an estimated fortune of $28 billion, the queen’s personal assets are estimated at $750 million. A normal subject inheriting that amount would pay a 40 percent death tax or $300 million."

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The British government explains the royal exemption by saying it was designed to guard against the royal family's assets being wiped out if two monarchs were “to die in a short period of time.” In other words, the high British inheritance tax could cause the value of such an estate to plunge 65 percent or more.

Good point. Why not extend that sound policy to ALL British families? And why not here in the USA as well? As Steve Forbes likes to say: No taxation without respiration.

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5) Bill Maher: "Women Never Get Enough Credit For The Things They Didn’t Do"
Bill Maher, the liberal comic who sometimes takes on his own side during his HBO show monologues, hit a bulls-eye last Friday by roasting the "woke" Left.

Maher said "woke" history allows progressives to "congratulate yourself about being better than George Washington because you have a gay friend, and he didn't. But if he was alive today, he would, too. And if you were alive then, you wouldn’t."

He then noted a Hollywood movie called the Aeronauts about the scientists who broke the altitude record in a hot air balloon stars a man and woman because "representation is important," but this rewrites history: in reality, it was two men who did that.

He concludes: "Women Never Get Enough Credit for the Things They Didn’t Do."

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6) Now We Get It!

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