• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy An Omni-Wreck Waiting to Happen
Economy

An Omni-Wreck Waiting to Happen

by January 15, 2023
by January 15, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Last month, the Consolidated Appropriations Act of 2023, or Omnibus package, demonstrated that the majority of politicians have one-track minds. They identify problems, pass legislation, and send the consequences down the line. 

In “The Coming Slavery” (1884), Herbert Spencer observed that legislators often fail to perceive that they have set in motion a train on a destructive course. Given the political momentum, he argues, “The question of questions for the politician should ever be—’What type of social structure am I tending to produce?’”

If most of our politicians have failed to ask this question, citizens should remind them of it now. Who benefits from the $1.65 trillion omnibus package? How does it enhance or restrict freedom? And how do spending programs affect the mindset of future generations? The answers should make everyone reach for the brakes. 

An Equitable Platform

One problem is that the current appropriations package is full of programs that redistribute wealth to advance a target moving faster than a bullet train: “equity.” Voters’ race, geographical location, and employment significantly shape their benefits.

Consider the beneficiary of one of Senator Sheldon Whitehouse’s earmarks: $477,000 to the Equity Institute in Rhode Island. This “education-based nonprofit organization” works to “cultivate antiracist, people-centered communities for all learners.” To do so, the institute  advances “an evolving definition of education equity,” insisting, “criteria for success when advancing Educational Equity must be based on the quality of individual and community life as opposed to standardized test scores.” If those criteria are opaque, the government’s criteria are more so.

The “Unleashing American Innovators Act of 2022,” for instance, amends existing legislation to enable the Undersecretary of Commerce for Intellectual Property and Director of the US Patent and Trademark Office to encourage innovation and new patents among particular groups. It ends the preferred list with “any geographic group of innovators that the Director may determine to be underrepresented in patent filings.” The Director may spend your tax dollars based less on the quality of invention than on who innovates and where. 

Senator Bernie Sanders is also focused on a particular group in his $50 million Worker Ownership and Readiness and Knowledge Act. Sanders introduced the legislation in 2009. His colleagues then balked, but this year nearly everyone boarded the omnitrain.

Under this act, “The secretary shall establish with the Department of Labor an Employee Ownership Initiative to promote employee ownership.” Sanders calls it “modest but effective legislation” that will “go a long way to ensuring workers have the tools they need to have a seat at the table they worked to build.” 

The program identifies “key groups, such as retiring business owners, senior managers, labor organizations, trade associations, community organizations, and economic development organizations,” all of which it educates on the means and benefits of employee ownership. But what are the long-term consequences of promoting this shift, apart from, of course, solidifying a voter bloc?  

In its current format, this legislation seems innocuous because it is voluntary: there is outreach, education, and assistance. What Spencer emphasizes, however, is that what begins modestly expands into massive programming with increasing legislation and escalating costs: a runaway train with no brakes.   

Tracks to Serfdom

Perhaps the future beneficiaries of the innovation grants will be delighted to share the metaphorical tables they invent with their employees, who then become owners. Or, perhaps Spencer was right that the more the government does, the less incentive people have to invent:

Each generation is made less familiar with the attainment of desired ends by individual actions or private combinations, and more familiar with the attainment of them by governmental agencies; until, eventually, governmental agencies come to be thought of as the only available agencies.

Will the next generation simply plod down the well-worn tracks of government assistance for every endeavor? And how much will that funding increase over the next decades?

Such a trend has long-term consequences financially as well as intellectually. As the government’s gravy train gains momentum, so does government’s incentive to raise taxes to fuel it.  Individuals have less money to apply to their own interests and must work more hours every day to pay for socialism. This was, for Spencer, “the coming slavery”:

it matters not whether his master is a single person or a society. If, without option, he has to labour for the society, and receives from the general stock such portion as the society awards him, he becomes a slave to the society. Socialistic arrangements necessitate an enslavement of this kind, and towards such an enslavement many recent measures, and still more the measures advocated, are carrying us.

Without claiming “enslavement” today, we can acknowledge that the Consolidated Appropriations Act of 2023 will increase the national debt, as well as the political momentum toward the governmentalization of social affairs.   

Halting that process requires taxpayers to exhibit the same savvy shown by Agatha Christie’s legendary Hercule Poirot. The detective, faced with a body on the Orient Express, finally realized that literally all the passengers on that train had a hand in the murder. Likewise, voters must accept that the majority of our elected representatives supported the passage of the omnibus, whether openly or through earmarks.

It’s time for us to acknowledge the society they are creating and to hold them accountable. If our current legislators won’t apply the brakes on this train, we need to do so in the next election.

You Might Also Like
  • Lebanese protesters gather near U.S. embassy in Beirut after Gaza hospital hit by rocket: Reports
  • Blinken: Sexual violence Hamas committed on Oct. 7 ‘beyond anything that I’ve seen’
  • DeSantis, GOP shred FBI following release of Durham findings in Trump-Russia probe: ‘Clean house’
  • Ramaswamy goes viral following exchange with LGBTQ activist: ‘I respect that you have a different opinion’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
The Supreme Court’s Complicity in Our Loss of Freedom
next post
Caterpillar stock price forecast: Bank of America sees a 15% upside

You may also like

Vulnerable Dem senator hit with immigration ad tying his policies...

July 24, 2024

Turkish lawmaker suffers heart attack after declaring Israel will ‘not...

December 13, 2023

Conservatives hope key legal case can bring Biden migrant parole...

August 26, 2023

Top progressive Jayapal slammed by fellow House Dems for downplaying...

December 5, 2023

Julian Assange supporters demand charges be dropped in vigil outside...

August 21, 2023

Tesla Stock Jumps 22% After Q3 Earnings

October 28, 2024

Dogecoin and Shiba Inu: Target and Prices for Thursday

October 3, 2024

Michigan passes bill to protect abortion-seekers from discrimination

May 4, 2023

Biden under investigation after threat to Israel’s offensive aid: ‘playing...

May 11, 2024

Oklahoma AG looks to slow lethal injection schedule

January 18, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Nike pushes back Skims launch with Kim Kardashian due to production delays

      June 19, 2025
    • The Fed Is Getting It Wrong AGAIN As They Hold Rates Steady

      June 19, 2025
    • DOJ seizes record $225 million in crypto tied to global ‘pig butchering’ scams

      June 19, 2025
    • Feeling Unsure About the Stock Market’s Next Move? These Charts Can Help

      June 18, 2025
    • Amazon expects to cut corporate jobs as it relies more on AI

      June 18, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,598 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,874 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,577 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,541 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,416 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,140)
    • Investing (538)
    • Stock (2,620)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Nike pushes back Skims launch with Kim Kardashian due to...

      June 19, 2025
    • The Fed Is Getting It Wrong AGAIN As They Hold...

      June 19, 2025
    • DOJ seizes record $225 million in crypto tied to global...

      June 19, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,140)
    • Investing (538)
    • Stock (2,620)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Ohio senators clearing path for new...

    June 6, 2023

    Hunter Biden’s criminal trial on federal...

    June 3, 2024

    Clooney, Hollywood line up behind Harris...

    July 23, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here