Peter Van Doren The Federal Reserve Bank recently proposed to liberalize capital standards for large banks. Since 2014, the eight largest banks have had to maintain capital that was at least 5 percent of their total assets. The change would reduce that ratio to a range of 3.5 percent to 4.5 percent, a reduction in capital requirements of $13 billion, ...
Peter Van Doren New Zealand recently took a baby step toward the use of psychedelics to treat depression, post-traumatic stress disorder, and substance abuse by allowing one and only one psychiatrist to prescribe psilocybin, the hallucinogen found in “magic mushrooms.” For an update on the status of legalization in the United States, see this article in the summer issue of ...
David Inserra This Independence Day, it is worth celebrating the freedom of speech we enjoy, especially in light of recent events in Europe. In the UK, a man was found guilty of public disorder for the peaceful protest and burning of a Quran outside the Turkish embassy; two men assaulted the man during the protest. In Germany, the country held ...
Colleen Hroncich As I think about Independence Day tomorrow, I see educational freedom as a cornerstone of liberty. In contrast to most of American society, however, our school system is rooted in coercion, not liberty. Starting in the mid-1800s, states have mandated that children attend taxpayer-funded, government-run schools that they are generally assigned to based on where they live. Fortunately, ...
Tad DeHaven In the 1970s, the federal government legalized home beer brewing and lowered excise taxes on small commercial brewers, helping to spark an American craft beer revolution. In the following decades, entrepreneurs (often homebrewers) blew past traditional brewing boundaries to offer consumers the extraordinary range of styles, flavors, and places (e.g., brewpubs and taprooms) we enjoy today. When Uncle ...
Chris Edwards Are there any New York City workers you can’t bribe? We’ve had housing authority workers taking bribes for maintenance contracts, police officers taking bribes for gun licenses, building inspectors taking bribes for approvals, coop managers allegedly taking bribes for access to publicly funded housing, and a building commissioner allegedly taking bribes for zoning changes. New this week: DMV ...
Gene Healy For a hot moment last week, it looked like impeachment season all over again. First, Rep. Alexandria Ocasio-Cortez (D‑NY) kicked off a fight with President Trump, tweeting that bombing Iran without congressional authorization was “absolutely and clearly grounds for impeachment.” On Wednesday, Trump blasted back Trumpishly, in an invective-filled Truth Social post—“Stupid AOC,” etc.—that, after some meandering, finally ...
Emily Ekins and Hunter Johnson 66% Believe American Founders Would be Disappointed with How We’re Following the Constitution, 75% Support a Balanced Budget Amendment, 53% of Gen Z Support Writing a New Constitution The Cato Institute’s 2025 4th of July National Survey of 2,026 Americans, conducted by Morning Consult, finds shocking ignorance among the general public about our nation’s history and ...
Dominik Lett On June 30, the Senate approved its version of the massive Republican tax-and-spend reform bill on a 51–50 tie-break vote. As written, the bill will add nearly $4 trillion to the debt. Under realistic assumptions about economic growth, congressional extensions of tax giveaways or delays to spending reform, and the fiscal impact of mass deportations, the bill’s cost ...
Stephen Slivinski Real estate agent industry representatives in Puerto Rico are worried these days. That’s a good thing. Governor Jenniffer González Colón has the opportunity to sign into law a licensing reciprocity bill—almost identical to ones adopted by at least 26 states over roughly the past decade—that would allow anyone with a license in the continental US to apply for ...