Democrats Are More Extreme Than Ever Before

Grind for September 25th
“When the war of the giants is over, the wars of the pygmies will begin.”
– Winston Churchill

Are You Crazy?

The Headline

Candidate Yang: Free money, but no beef or cars

The Grind

Speaking Thursday at MSNBC’s climate forum at Georgetown University, presidential hopeful Andrew Yang suggested the government should tax the cattle industry and eliminate private car ownership.

“Cattle is very energy-consuming and energy-expensive, and if you project forward on what we would need to do to reduce emissions, you would want to modify Americans’ diets over time,” he told MSNBC host Ali Velshi.

“So then, what that would naturally do – and some people are going to hate this – but it would probably make those products more expensive. And that is appropriate because there’s a cost to producing food in that way. And so if you were to make it more expensive, then you would end up changing consumption patterns over time.”

The Details

Another thing Yang wants to take from us in the name of climate change is our cars.

Private car ownership is “really inefficient and bad for the environment,” said Yang. To eliminate our dependence on fossil fuels, private car ownership may be replaced by “a constant roving fleet of electric cars.”

Yang wants to set a zero-emissions standard for all new cars by 2030 and envisions the end to private ownership occurring by 2050.

His climate plan, which calls for nearly $5 trillion in spending over the next two decades, proposes moving populations to higher ground to avoid the effects of climate change.

The Takeaway

Perhaps someone should remind Yang that this isn’t China.

Whether or not his drastic proposals will help humanity survive, they will never work in a Democracy because voters will never approve such radical changes to their way of life.

If Yang really wants to push the United States toward a more energy-efficient future, he needs to focus on smaller, more realistic changes than taking away our cars and our beef.

And let’s not forget about Yang’s hallmark Freedom Dividend: a proposal to give all Americans $1,000 per month by taxing companies that benefit from automation.

“The most direct and concrete way for the government to improve your life is to send you a check for $1,000 every month and let you spend it in whatever manner will benefit you the most,” reads Yang’s campaign website.

Once again, Yang’s plans are immature and unrealistic. Yang has convinced himself that $1,000 per month would spur entrepreneurship, creativity, and art.

Unfortunately, as history shows, many people who find the opportunity to earn money without working will not go out and create their own business; they will sit on the couch and do nothing.

My Turn

The Headline

Airbnb will go public in 2020

The Grind

Airbnb announced Thursday its plans to go public in 2020 following reports that its Q2 revenue eclipsed $1 billion.

Airbnb had also considered a direct listing.

Unlike an IPO, in which new shares are created, underwritten, and sold to the public, a direct listing offers only existing shares.

Outstanding shares are sold without underwriters.

The Details

Founded in 2008 in San Francisco, Airbnb is a unique startup that allows people to list their homes or properties for rent. Today, Airbnb is a major competitor to hotels and vacation rentals.

Valued at $31 billion, Airbnb is among the most valuable closely-held companies in the US. According to The Wall Street Journal, Airbnb’s profits jumped 40% from 2017 to 2018.

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