May 3, 2013
Quotes of Note
“And whether you’re an honest man, or whether you’re a thief, depends on whose solicitor has given me my brief.” –Benjamin Franklin
“We have the right as individuals, to give away as much of our own money as we please in charity; but as members of Congress we have no right to appropriate a dollar of the public money.” – Davy Crockett
May 23: The Foundation’s May 23 Leadership Breakfast at the Georgian Club will feature education entrepreneur Sajan George discussing, “The Future of Education.” For information and registration, go towww.georgiapolicy.org/?p=9155.
July 11: Mark your calendar! Education expert Jay Greene will be the keynote speaker for the Foundation’s annual Friedman Legacy event. Details to follow.
Got students? The Foundation officially launched its Student Outreach Scholarship (SOS) Program at the April 23 Leadership Breakfast. Tax-deductible contributions from Foundation supporters cover the charge for qualified students to attend events, giving them an opportunity to hear national speakers on free-market ideas and to network with Georgia’s business, community and political leaders. Find out how to apply and contribute athttps://live-gppf.pantheonsite.io/?p=9167
Transportation is not about transportation: Charlotte Mayor Anthony Foxx is President Obama’s new pick for Transportation Secretary. But advocates for mobility and congestion relief shouldn’t expect much of that. As one pleased Foxx supporter put it, “He understands that rail transit, public transit, drives economic development. The goal of any transportation system, especially rail transit, is not to move people. That is not the goal. The goal is economic development at the stations.”
Energy and environment
Science vs. supposition and juxtaposition: A survey released this week notes, “Half of Americans also believeglobal warming was to blame for last year’s record-breaking temperatures. The National Oceanic and Atmospheric Administration (NOAA) named 2012 the warmest year on record, with every contiguous U.S. state registering above-average annual temperatures for the year.” An April 12 report on the 2012 weather, meanwhile, quotes an NOAA research meteorologist pointing out, “This is one of those events that comes along once every couple hundreds of years. Climate change was not a significant part, if any, of the event.”
Taxes and spending
Government giveth and government taketh away: Twenty years ago, California provided a tax incentive to lure entrepreneurs and early-stage investors. The incentive allowed their sales of stock of a “qualified” small business to be taxed at half of the regular state rate on capital gains or rolled over into a new qualified small business if reinvested within 60 days of the sale. Now, the Franchise Tax Board has declared these people will be billed retroactively – with interest – to 2008 for the 50 percent of the taxes they had legally excluded. Businesses understandably are crying foul. The state’s tax rate on capital gains several years ago was 9 percent and is now 13.3 percent. Source: Heartland Institute
Limiting government: By rejecting Medicaid expansion, states can cut future federal spending, Christina Corieri of the Goldwater Institute writes in The Wall Street Journal. She notes that, “supporters of expansion have dusted off an age-old favorite in making the case for taking federal dollars. They say: If our state doesn’t take the money, those dollars will go to some other state instead. Happily, in this instance that is not true. When a state declines to expand Medicaid coverage to more people, no other state will receive its share of funds and federal spending declines. … Each state that declines to expand Medicaid relieves strain on the overall federal budget for this entitlement.”
Cash or credit? Georgia is the epicenter of the global payment system and financial services world. According to the Technology Association of Georgia, 70 percent of all payments are processed in Georgia.
Like us yet? The Foundation’s Facebook page has 2,040 “likes” at facebook.com/GeorgiaPolicy and more than 950 Twitter followers at twitter.com/gppf.
This Week in The Forum: Remember P.J. O’Rourke’s warning? “If you think health care is expensive now, just wait until it’s free!” Read more in “Checking Up on Health.” Find this and other posts in The Forum, the Foundation’s blog, at georgiapolicy.org/category/the-forum/.
Visit www.georgiapolicy.org to read our latest commentary, “An Ounce of Prevention not on Feds’ Health Care List,” By John Goodman.
On a personal note: We regret to report that Karen Ross, a great friend of the Foundation who tirelessly spread the message of limited government from St. Simons across the state, passed away this week. We will miss her.
Have a great weekend.
Kelly McCutchen and Benita Dodd
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