The Wall Street Journal ran an op-ed yesterday against the “Audit the Fed” bill pending in Congress. Anil Kashyap and Frederic Mishkin contend that “The Fed is Already Transparent.”
Their imperial smugness and condescension to us mere subjects is palpable.
This passage speaks volumes:
What’s more, it is highly doubtful that the GAO has the technical competence to evaluate monetary policy. If it did try to conduct these audits, at best it would merely rehash known information. At worst, the GAO would generate confusion by offering its own analysis.
In other words, you serfs need not concern yourselves with what is going on behind the curtain. You are too dumb to understand. Monetary policy is best left to your betters.
Kashyap and Mishkin, of course, are your betters.
Trust them.
Aurora voters get to vote on whether or not their property taxes should be raised. Supporters of the measure say the money is necessary to keep libraries open.
This is not correct.
The government of Aurora has scapegoated libraries. The local government made a decision to cut library funding specifically because many have a visceral reaction to the thought of shuttering libraries. The government could have chosen some other, less glamorous government service to cut that no one would have really cared about.
Today’s Denver Post’s headline is simply wrong and falls for the very trap set by the pro-tax lobby.
It’s the local government’s job to decide what to do with the tax revenue it receives. They do not have to close those libraries.
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Today’s Denver Post article on Aurora ballot measure 4A, which would raise property taxes, includes this paragraph:
On a recent day, patrons at the Mission Viejo library were reading books, newspapers and searching the internet.
The article does not include this paragraph:
On a recent day, a 72 year old widow was sitting at her kitchen table, trying to figure out how to pay her electric bill on a fixed income.
If 4A passes, that widow’s life becomes that much harder. But some kid will be able to surf the net.
That’s your choice.
