George Rebane

As the media bleats about $100/bbl oil, I wonder whether we’re supposed to forget that it’s really the dollar in our pockets that is under assault by the government.  They want to take more money from us and find that raising taxes is too obvious because even the most backward of us then see that their take-home pay is smaller and may not agree that it’s all going for a good cause.  A much better way to bilk us is to continue debasing the currency which allows the government’s fixed debts (e.g. national debt) to be paid off in cheaper dollars.  The government figures correctly that the rubes among us will not notice.  Those not convinced of the greenback’s fall in value should examine the nearby chart (from the 4jan08 WSJ) showing the price of oil in dollars, euros, and gold.  There they will see that the price of crude in terms of real money (i.e. gold) has remained pretty much constant.

It was heartening last night in the New Hampshire debates to see all Republicans declare that the first part of any beneficial solution to the illegal alien problem is to secure our borders.  This, of course, is anathema for our friends on the left whose solutions are akin to stopping the ship of state from sinking by ignoring the hole in the hull and just trying to bail more furiously.  And then again, some of them don’t even want to bail all that much.  I wonder what they’re up to.

Arguably taxes, trade, and the free market are the prime differentiators between the Republicans and Democrats.  If the GOP loses its grip on making this clear during the coming year, it will become history sooner than later.  (A canary in the mine will be Ron Paul becoming an independent or, better, a declared Libertarian candidate.)  Some right-wing stalwarts are saying that abandoning such conservative distinctions will not necessarily spell the demise of the party.  Maybe not, but it seems to me that it would be a prudent move to at least start measuring that sagging and staggering pachyderm for its pine box.  The amount of lumber required will require placing a timely order.

Finally, those of us looking for an end to the state’s monopoly in education should add tax credits to vouchers as an alternative way for parents to direct the education of their children.  Adam Schaeffer of the CATO Institute has completed a very readable policy paper (The Public Education Tax Credit) arguing the benefit of tax credits over vouchers in pushing through a success campaign for school choice.  Personally, I was convinced and am now a proponent of the tax credit approach.