Source: Independent Institute
by Daniel Sánchez-Piñol
“The California Billionaire Tax Act has qualified for the November 2026 ballot, promising a massive cash windfall for the state. Proponents confidently declare that it will yield around $100 billion. On paper the calculation seems a no-brainer. If you take the net worth of California’s billionaires from the Forbes list at the beginning of the year, roughly $2 trillion, and apply the proposed one-time 5 percent wealth tax, you land right around $100 billion. However, while the arithmetic is straightforward, the economics are shaky. A foundational principle of economics is that individuals respond to incentives. Apply this principle to California’s wealth tax scheme and a different picture emerges.” (07/01/26)
“President Donald Trump used red-scare rhetoric to denounce the progressive winners in New York’s Democratic primary last week as ‘godless communists’. Rather than explaining that the progressives are not communists in the vein of the Soviet Union or communist China but social democrats in the vein of Scandinavia, a group of so-called ‘moderate’ Democratic politicians piled on to Trump’s red-baiting. Two days after the primaries, this group of 15 corporate Democrats (let’s just call them what they are) attacked the winning Democrats in an open letter drafted by Democratic Rep. Tom Suozzi of New York proclaiming, ‘we are capitalist, not socialist’. In an interview with the New York Times, Suozzi added ‘that message from Tuesday is not the message that I embrace’.” (07/01/26)
“One Nation Conservatives emphasize the paternalistic, socially cohesive, and pragmatic virtues of ‘Old England,’ in opposition to reforming free-marketeers and socialists alike, as a British version of centrism. They are the ones Margaret Thatcher called ‘wets,’ though even Thatcher’s ‘sons’ were affected by their force. When Miliband spoke of ‘One Nation’ in a Blue Labour voice, then-Conservative Prime Minister David Cameron launched his own version of Disraelian politics in the form of the ‘Big Society,’ which turned out to be, as the British would say, a damp squib. More recently, One Nation Conservatism has been pitched as an alternative to populism, though Brexit and Reform leader (and one-time Thatcherite) Nigel Farage appears now to have a stronger appeal with the working class, perhaps thanks to his echoing of Disraelian themes.” (07/01/26)
“Last week, two federal agents went to David Streever’s home in Rochester, New York, to warn him over a strongly worded email he sent to then-Immigration and Customs Enforcement (ICE) interim director Todd Lyons, according to Michelle Breidenbach of the Post-Standard. As such missives often do, Streever’s email evokes the Nazis, telling Lyons: ‘You are a monstrous human being and will go down in history as America’s Reinhard Heydrich, the butcher.’ It goes on to excoriate him over the protesters killed by federal agents in Minnesota and predicts, ‘you will torment yourself until your last day on Earth.’ The email is harsh. But at no point is it threatening. It’s the sort of message that public figures of all sorts receive and discard every day. Except that federal officials seem to be emulating the thin-skinned current president’s attitude towards criticism.” (07/01/26)
Source: Foundation for Economic Education
by Cláudia Ascensão Nunes
“In 1990, Belgian footballer Jean Marc Bosman saw his contract expire and discovered something he did not expect: although he was no longer under contract, RC Liège still controlled his future. He had found a team in France willing to sign him, but Liège demanded a transfer fee the French club could not afford. Bosman had no contract, no salary, and no real way out. In practice, he remained tied to the club. His case would go on to change the football market and European sport forever. Across European football, a transfer system allowed clubs to retain control over players even after their contracts had ended. A player could be prevented from joining a new employer unless a transfer fee was paid, even when no contractual obligation remained. … Bosman challenged this system in court, and in 1995, the European Court of Justice ruled in his favor.” (07/01/26)
“The Supreme Court ruling that upholds states’ rights to ban transgender athletes from competing in girls and women’ sports provoked wailing from the usual suspects. New York Attorney General Letitia James denounced what she called ‘cruel and discriminatory laws targeting the trans community’, and accused the court of deciding to continue on a ‘dangerous and harmful path’. Oh, please.” (06/30/26)
Source: Responsible Statecraft
by David C Hendrickson
“In the run-up to America’s 250th anniversary, we’ve witnessed a few amazing spectacles, but not much historical reflection. Insofar as discussions have addressed our history, attention has focused on American statesmen and warriors from back in the day. But there is more to be gained by looking from a different standpoint: that of Britain’s leaders at the time of the American revolution. They had an empire to run, as we now do, not a republic to create. Great Britain had achieved, by 1763, a position widely compared to Rome in its heyday. It had won the great contest with France over control of the interior of North America, gaining Canada and a secure claim to the Mississippi River in the Peace of Paris in 1763. But all was not well.” (07/01/26)
“In recent years the American right’s been inverting phrases taken from the left, taking something that meant well and turning them into cliches. Triggered. Woke. Social justice warrior. Critical race theory. They use these as a shorthand to mock and belittle, while also reducing the left to something separate and less than. At the same time, these phrases are often ill-defined: what is woke, exactly? One may as well ask who leads the oft-cited but hard to find antifa organization. Once one starts looking at how they use these phrases to delegitimize the left, one sees the pattern all over the place: gender ideology, fake news, and perhaps most nefarious of all, cultural Marxism.” (07/01/26)
“Speaking Sunday night at the Trump Kennedy Center, where he was receiving the Mark Twain Prize for American Humor, Bill Maher offered an excellent bit of advice for politicians who do not wish to be mocked: ‘Stop being funny.’ It is a simple thing, and a not-so-simple thing. When politicians are being ridiculous, Maher said, ‘I put them in jokes—jokes that work.’ Jokes that work is the key thing. It is axiomatic in comedy that the way to kill a joke is to explain it, but it is worth thinking about why and how Maher’s jokes, and other jokes about politicians, work. If politicians are to stop being funny, then they will need to answer the question: When are politicians funny? … Naked dishonesty in politicians is funny. So is incompetence. So is howling demagoguery. Quiet, unshowy competence is not very funny.” (07/01/26)
“When Congress passed the Sherman Act in 1890, John Sherman told the Senate, ‘If we will not endure a king as a political power, we should not endure a king over the production, transportation, and sale of any of the necessaries of life’. The act intended to keep concentrated private power from becoming a sovereign authority unto itself. It lasted five years before the Supreme Court took it apart. In United States v. E.C. Knight (1895), the Court held that manufacturing was not commerce and therefore lay beyond the reach of federal antitrust law. The case concerned the American Sugar Refining Company, which by acquisition controlled more than 90 percent of the nation’s sugar refining capacity. The Court drew its commerce line precisely where the largest industrial concentration in the country sat, and the trust walked free.” (07/01/26)
