“The ‘recovery’ is largely an illusion created by the effects of zero percent interest rates, quantitative easing, and deficit spending. The asset bubbles that have been created as a result of these policies have primarily benefited the owners of stocks, bonds, and real estate (the rich), while simultaneously deterring the savings and capital investment that is needed to actually create good paying jobs and increased purchasing power.” – Peter Schiff,EuroPacific Weekly, November 6, 2014

The question everyone should be asking, especially the managers of public employee pension funds, is how much longer can our economy run on zero percent (adj. for inflation) interest rates, quantitative easing, and deficit spending.

When askedhow we unwind all of this debt and deficits in a manner that doesn’t trigger a collapse of collateral and potentially catastrophic deflation, i.e., how do we create the preconditions for sustainable economic growth, respected economics bloggerCharles Hugh… Read More

With the support of my family, friends, and numerous community leaders, I am excited to announce my candidacy for the 37th State Senate District seat here in the heart of Orange County.

Congratulations to Sen. Mimi Walters on her election to Congress. She has been a fierce advocate for pension reform, a strong ally to small businesses, and an eloquent conservative voice in the State Legislature. Her experience and insight in Washington will benefit Orange County and the entire country.

Sen. Walter’s election to Congress leaves a vacancy in her 37th State Senate District seat. Under our Constitution, that vacancy will be filled shortly by a special election. Because of term limits, my opportunity to continue serving in the legislature beyond the next election requires that I seek this Senate seat. That is why I today announce my candidacy to succeed Sen. Walters.

I am sincerely grateful to the voters who have sent me to Sacramento for three consecutive terms in the legislature from two separate Assembly Districts encompassing most of the new Senate seat. I turn to them again for their support to continue delivering the… Read More

Californians have abysmally low levels of civic engagement as evidenced by the recent election where voter turnout set an historic low. And the widespread disengagement of California’s younger voters is even worse.

True, in 2008 California’s youth turned out in large numbers to elect Barack Obama as President. And in 2012 they turned out again because, in addition to Obama being up for reelection, Proposition 30 was on the ballot. Proposition 30, which gave California the highest income tax rate and highest state sales tax rate in America was, ironically, entitled Temporary Taxes to Fund Education.

During the Proposition 30 campaign, Governor Brown traveled to several university campuses to push the massive tax hike promising that passage would prevent tuition hikes. California’s college students, being as gullible as they are idealistic, believed the promise hook, line and sinker. So much for critical thinking.

But perhaps California’s younger voters are finally getting wise to all the broken promises of tax-and-spend politicians and that might explain, in part, why they stayed home in this last election. And sure enough, their increasing cynicism… Read More

Someone recently asked me what Cap and Trade and Carbon Trading is. The simple answer is the State of California is taxing the air we breathe. However, it is also one of the biggest taxing schemes perpetrated on Americans, Californians, and businesses.

The beginning

Carbon trading is actually emissions trading by businesses forced into these “agreements.”

When California’sGlobal Warming Solutions Act,AB 32, was passed in 2006, it was sold to the public as a necessary step to reduce dangerous carbon emissions. California politicians gloated over being the first state to enact such an aggressive policy.

The state’s unemployment rate was very low at the time at only4.8 percent. It… Read More

Kudos to billionaire T. Denny Sanford! This successful South Dakota businessman has decided to give most of his wealth away BEFORE he dies — to causes he favors. While many wealthy people end up donating most of their wealth to charities, Sanford’s “give it all now” philosophy is far less common.

But in alaudatory U-T interview, there’s one fact mentioned in passing that bears note. In the interview, Sanford says “I live about six months a year in the Scottsdale area.” Actually, a more accurate statement would likely be “I live LESS than 6 months a year in Scottsdale.”

The reason? His business is in South Dakota, employing thousands of people. He still resides in South Dakota FOR INCOME TAX PURPOSES. While Arizona has only a 4.54% top state income tax bracket (about 10th lowest in the nation), South Dakota has NO state individual or corporate income tax. ZERO.… Read More

Following the deadly shootings and murders of two Sacramento Sheriff deputies, Sacramento County Sheriff Scott Jones called on President Barack Obama for immediate immigration reform. If the President’s speech Thursday evening left you hollow, Sheriff Jones’s video will change that.

President Obama announced he will sign an executive order granting “deferred action” to two illegal immigrant groups- parents of United States citizens or legal permanent residents who have been in the country for five years, and young people who who were brought into the country illegally as of 2010.

That announcement came on the heels of Sheriff Jones’ video address to the President.

… Read More

Well, this day came much faster than I expected.

After penning hundreds of these missives, I find myself now sitting down to write what will be my last “Laptop Report” to all of you as a Member of Congress.

For the last decade and through several sessions of Congress, you’ve given me the opportunity to share my thoughts on a myriad of issues facing this nation and our world. This has truly been a privilege and honor that I never took lightly.

These reports have been a way for me to talk to you directly and to engage with you on complicated issues that weren’t always easy to solve with a polished quote or quick sound bite. In turn, many of you responded with thoughtful feedback each time. I want you to know that I read and appreciated those replies.

For those who asked to be added to my “Post-Congress” list, this will not be the last time you hear from me. We will continue our discussion sometime next year.

However, I want to take this last chance to just say thank you. I enjoyed writing these reports and I hope they offered you a perspective that you were not getting from the usual… Read More

Our remarkably anti-business country (well, our country’s governments) works 24/7 to help businesses prosper everywhere else— except perhaps France. Thank goodness for socialist France — we can count on these losers to keep us off the bottom of the pile. And then America’s politicians claim to be shocked that businesses seek to leave the “free market” USA. And that foreign businesses are reluctant to come TO this country with anything but retail stores and imported goods.Of the 34 OECD countries (the developed countries), the U.S. ranks 32nd in “tax competitiveness,” according to the Tax Foundation. France is the worst. Plus we “beat” Portugal (big whoop!). Even economic basket case Italy is not quite as bad as the U.S. Adding insult to injury, of the 50 states, California’s 2015 “business tax climate” ranks 3 … Read More