By Remberto Latorre-Artus
Last Friday, the Puerto Rico Supreme Court revoked a recent pension overhaul of the teacher’s pension plan, which sought to fix the island’s growing sovereign debt. The legal move constitutes an important blow to the official attempts to balance the budget.
Three days before the Caribbean futile ruling, Chicago Mayor Rahm Emanuel’s proposal had ran a different luck. On April 8th the House, Senate approved Rahm’s bill aimed at the restructuring of two city pension plans that are deemed to become insolvent in less than a decade. However, the underlying reasons behind this seemingly positive verdict poses a disturbing and worrying fact: Rahm’s pension bill—which is still up to Quinn—has been escorted by their neighboring Detroit’s debacle, which begs the question: what will it take for the rest of the legislators and the population at large to realize the proximity of the Pensions iceberg ahead of us?by
Frankreichs neuer Premierminister Manuel Valls hat eine „wirkliche Revolution“ und wichtige Reformen angekündigt. Doch in seiner eigenen Partei formiert sich Widerstand.
von Raoul Sylvester Kirschbichler
Wen wundert es, dass Manuel Valls in seiner Partei höchst umstritten ist? Niemanden. Denn der neue Premier ist ein Linker mit großen Reformzielen. Manuel Valls möchte den Franzosen näher sein als dem Staat. Deswegen lieben ihn die Franzosen, seine Kritiker in der eigenen Partei wissen, dass er auf dem bekanntesten Schleudersitz Platz genommen hat, den die Republik zu vergeben hat.
Manuel Valls ist weder ein Emporkömmling der französischen Elite, noch war der neue Premierminister immer schon Franzose. Sein Großvater floh von Barcelona nach Frankreich zur Zeit Francos, sein Vater war ein Maler, der in Paris sein Glück versuchte. Manuel Valls entschied sich selbst für die Tricolore und für die „parti socialiste“. Nun macht er alles, was die Sozialisten Frankreichs ärgert: Er lässt junge Roma aus dem Land werfen und kritisiert die 35-Stunden-Woche.
We don’t need nations, flags, and armies to make us prosperous
When I tell Duke freshmen my version of the argument for liberty, they often scoff, “If this is , how come I’ve never heard it before?” I try to be conciliatory. I offer the kids time to go text their parents. They need to sue those elite private high schools for failing to educate them in even the basics of how societies work, and why so many societies fail to work.by
Alexander Hamilton won in the end. As Treasury Secretary in the 1790s he championed an array of “internal” taxes to supplement federal revenues from import tariffs. Thomas Jefferson despised Hamilton’s internal taxes as assault on liberty, and when elected in 1800 he made sure that they were abolished.by
by Emily Ekins
The latest Reason-Rupe poll asked Americans if they would support or oppose changing the federal tax system to a flat tax, where everyone pays the same percentage of his or her income, finding that 62 percent favor the flat tax and 33 percent are opposed. When asked where they would set the flat tax, the aveage response was 15 percent.by
by Sydney Williams
Intolerance of tolerance is certainly no virtue. But bowing to pressure from the intolerant is cowardly. That is what Brandeis President Frederick Lawrence displayed when he revoked the honorary degree the university had planned to bestow on Ayaan Hirsi Ali at this spring’s commencement.by
Time for regulators to take their boot off the neck of microbusiness
Imagine you’re out of work. But you’ve got capital in your talents, your home, and your family and friends. You might try to start a microbusiness at home to earn a little extra income and make ends meet. That is, unless you live in certain U.S. states.by
Noah, commenting on “For More Jobs and Stability, Set the Economy Free”, points to second important observation in the linked commentary by Kevin Warsh – the spillover effect of Fed Policy, with significantly negative long run consequences, on the world economy. From his comment:by
In whatever direction we turn, we find the heavy hand of government intruding into virtually every aspect of American society. Indeed, it has reached the point that it would be a lot easier to list those areas of people’s lives into which government does not impose itself – and, alas, it would be a very short list. But it was not always that way.by
by Virginia Lopez
Toilet paper, rice and coffee have long been missing from stores, as Venezuelan president blames CIA plot for chronic shortages
It’s the rainy season in Venezuela and Pedro Rodríguez has had to battle upturned manhole lids, flooded avenues and infernal traffic jams in his quest for sugar, oil and milk in Caracas.by