Patterico's Pontifications

7/28/2020

Today in Bad Ideas

Filed under: General — JVW @ 2:42 pm



[guest post by JVW]

The state that brought you the high-speed rail boondoggle, the failed stem-cell initiative, and the never-ending increases in gas taxes to raise money (which doesn’t in fact go to improving state roads) now has a dynamite — as in “bound to explode and kill everything around it” — plan to keep funneling money into the public trough during the economic havoc caused by the coronavirus. Naturally it’s complicated; naturally the majority Democrats supporting the plan have not spent one moment pondering the unintended consequences of the plan; naturally there is a strong chance that this blows up in our faces if the legislature dares to pass it and the government signs it into law:

Democrats who control California’s Legislature on Monday proposed a $100 billion economic stimulus plan that relies on what they are calling “future tax vouchers” along with speeding up other spending during the coronavirus pandemic.

If the phrase “future tax vouchers” doesn’t fill you with and overwhelming sense of dread then I don’t know what to tell you.

The plan would allow state Treasurer Fiona Ma to issue tax vouchers that proponents said could raise billions of dollars, though they said it was too soon to provide a more detailed estimate.

Why bother with a more detailed estimate when we know it’s going to be pulled straight from the imagination of progressive policy analysts and will have absolutely no tether to economic reality? Remember how the bullet train was going to run from Los Angeles to San Francisco in just over two-and-one-half hours? This is the same sort of wish-casting that has become a hallmark of modern California policy-making.

The state would let taxpayers prepay their taxes for a future budget year at a slight, as yet undetermined, discount. Most of those likely to take advantage of the program would be wealthy enough to make it financially worth their while, said Tim Schaefer, deputy treasurer for public finance.

“It is a work in progress. A lot of it is aspirational and properly so,” Schaefer said.

[. . . ]

Sen. Bob Hertzberg of Van Nuys, one of the lead proponents, said taxpayers could prepay their taxes through 2024 under the proposal, giving the state “a three-year runway to get back on our feet” in anticipation that the economy will improve enough by then to allow the state to absorb the loss in future revenue.

Assembly Budget Committee chairman Phil Ting of San Francisco equated the vouchers to coupons that taxpayers could use later or sell.

OK, Sen. Hertzberg: the state is going to bring in $100 billion over the next four years which will help plug holes, then presumably after that the state will be able to do without $25 billion per year from 2025-28 as taxpayers use their vouchers/coupons in lieu of giving Sacramento money. This coming, naturally, as the left-wing organizations which pull the strings on legislative Democrats gleefully consider ways to extract more tax revenue from businesses and wealthy Californians. Imagine the bank who was holding your mortgage came to you and told you that if you would accelerate the next 24 months of payments by paying that entire sum over 12 months, then they would give you vouchers to cover payments for the next 12 months after that. That might sound appealing (though it would hardly make any economic sense) right up until they told you that, oh, by the way, they were also increasing your adjustable mortgage interest rate by several percentage points so that the additional 12 months of payments really only covers six months. This seems to be the deal the state is trying to cut with businesses and wealthy Californians.

Democrats said their goal is to spur jobs while aiding small businesses, particularly those that are owned by women or racial minorities. Sen. Jim Beall of San Jose pointed to estimates that 13,000 jobs are created for each $1 billion invested in infrastructure.

They offered few specifics, but said that could include expanding small business tax breaks, shielding small businesses from increased unemployment insurance costs, or encouraging more manufacturing of protective equipment needed during the pandemic.

Other efforts could include expanding low-income tax credits, encouraging more affordable housing, or protecting struggling renters and landlords, the lawmakers said.

So naturally any “help” for businesses forthcoming from Sacramento will be doled out according to one’s placement on the intersectionality index, and they will once again retreat behind the tired canard that government spending equals job creation, even though the cupboard is bare and we’re already living on dollars “borrowed” from Uncle Sucker. The reality is that our majority legislative party and governor have no idea at all how to manage this crisis, so they are true to form certain to lurch between policies that range from the unaffordable to the impractical. It isn’t going to be a very fun reckoning here in the Golden State, especially as public employees read the tea leaves and decide to retire early with their pensions rather than deal with all of this uncertainty. Here’s wishing them well as they decamp to Oregon, Nevada, Arizona, and other parts of our country far less dysfunctional.

– JVW

Out: Trump Taking Pandemic Seriously. In: Retweeting Video Making Misleading Claims About Coronavirus Cure (UPDATE) (2nd UPDATE)

Filed under: General — Dana @ 9:25 am



[guest post by Dana]

Last week I wrote about Trump’s new political strategy of leaning into the pandemic. However, taking the virus seriously was apparently little more than a short-lived experiment, given the president’s retweet of a video in which a doctor claims that the anti-malarial drug hydroxychloroquine is the cure for the coronavirus. The video was later deleted by Twitter:

Twitter has pulled a video of doctors making false claims about the novel coronavirus after it was shared by President Trump. Late Monday night, the president stumbled across the viral video that showed fringe doctors touting the controversial anti-malarial drug hydroxychloroquine as “a cure for COVID” and doubting the effectiveness of wearing masks. The claims made in the video directly contradicted the advice of Trump’s own public-health experts—but, despite that, he slammed the retweet button. Now, Trump’s page shows a disclaimer where the retweet once was, reading: “This Tweet is no longer available.” A Twitter spokesperson told CNN: “We’re taking action in line with our COVID misinfo policy.” Facebook and YouTube have also confirmed they removed the misleading video. Despite what Trump appears to believe, clinical trials have found that hydroxycholroquine has shown no real benefit in treating coronavirus patients, and has potentially deadly side effects.

Just this past weekend, Trump expressed some regret over his tweets, especially his retweets. I’m guessing hoping that he might be experiencing some of that regret this morning.

These are reportedly some of the views held by a Houston doctor who was part of the controversial viral video that Trump retweeted:

Immanuel, a pediatrician and a religious minister, has a history of making bizarre claims about medical topics and other issues. She has often claimed that gynecological problems like cysts and endometriosis are in fact caused by people having sex in their dreams with demons and witches.

She alleges alien DNA is currently used in medical treatments, and that scientists are cooking up a vaccine to prevent people from being religious. And, despite appearing in Washington, D.C. to lobby Congress on Monday, she has said that the government is run in part not by humans but by “reptilians” and other aliens.

More on Trump’s retweets concerning the coronavirus:

Trump also retweeted tweets defending the use of the drug hydroxychloroquine, including one that accused Dr. Anthony Fauci, a member of the White House coronavirus task force, of misleading the public by dismissing the drug.

“I have not been misleading the public under any circumstances,” Fauci responded on ABC’s “Good Morning America” on Tuesday morning when asked for his reaction to Trump’s retweets.

Fauci reiterated that the “overwhelming prevailing clinical trials” that have looked at the efficacy of hydroxychloroquine have indicated that it’s “not effective” in treating the coronavirus.

In spite of plummeting poll numbers, surveys showing that the majority of Americans disapprove of the way he is handling the pandemic, and the concerted efforts of his advisers, handlers, and his own Coronavirus Task Force, the self-consumed toddler-in-chief is simply unable to grasp the severity of the pandemic and the state of the nation. In other words, Trump is just being Trump.

UPDATE: President Trump addressed questions about Dr. Immanuel (in the video) at today’s press conference:

2ND UPDATE: Just OMG:

–Dana


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