1038: The march to regulating Big Tech. @johntamny

Published: Jan. 23, 2021, 2:52 a.m.

Image:  Technology of yesteryear.  A treasure trove of almost 12,000 detailed engravings, The Complete Encyclopedia of Illustration is a marvel of a collection culled from the worlds of science, history, geography, mythology, art, architecture, and more   John Tamny, @johntamny, RealClearPolitics, author, When Politicians Panic;in re: Government always seeks to limit, constrain. Best to let people just do what they want with their innovation. I have free speech where I live but not necessarily at your house.  As for the platforms—twitter, amazon, parler, et al.—the govt sees a chance to tax. Our new president is worried about rich people.  The rich have gained $1.5 trillion in the pandemic. Alert: the economy cannot progress without the rich as they have unspent wealth.  What stimulates economic growth is investment in new ideas. NYT: a man moved his operation from California to Texas; after the first year, he found his taxes were zero. Blue billionaires have given more to Joe Biden than red billionaires have given to GOP. There’s winking going on: four of the five richest companies in the world are still based in California. .. Property rights used to be fundamental to conservatism. Not anymore. Now conservatives want government to "do something" about Amazon, Apple, Twitter and others doing what they wish with their property. They should be careful what they wish for. Furthermore, the growing conservative embrace of victimhood vis-a-vis "Big Tech" has them trampling over another one of their once deeply held (and correct) beliefs: people, and by extension commerce, are not static. In a dynamic economy, tomorrow routinely makes today look primitive by comparison. This rates a lot of discussion as conservatives lose it over Parler's shutdown, and their alleged loss of free speech. Gag. As commercial history has made clear over and over again, the businesses and processes that will vanquish today's "few powerful gatekeepers" are almost certainly unknown right now, or haven't even been founded. Without defending Parler's treatment, to focus on it as the source of their victimhood is for conservatives to completely miss the point. The opinion piece can be found here (http://r20.rs6.net/tn.jsp?f=0012OFNWHVWHc94aRvHKXpdDPi6TKsOjPWryCJw4kBulzMRIuQud_yMMCCxQ0Knq8KCpOatKNPfNN2JbgQrE8dcUTTLHi6c5qTce4o0xhx_pi3vIj_baX6MUHgR_go8VT6rwHDuBgwUUzYCyExjN4Zw3KfWDih4TSRC464LUAldr07msnYHjid3_PMiA4NxtUTeC7KJI7pK8klejD3PnagZXyIZHXqmgG3jl0WDtsVpSVzBL0eynqedzZXb6b-Si5XXQF71f23bKyYn81NVX9Y6_AzmupI0etLeWJNHEQsz_7A=&c=lBVYj2fomd6N8xPh2pXathcKzWibrlijDnwlzOG58ftj1Lqg-cjICw==&ch=9M8xPTsg5bVRqgYimy8qXaklJVBMS3vsG04HHNSn6jjeW68YLdcwYw==) .  . . .  Joe Biden babbled in downcast fashion last week about how "since this pandemic began, the wealth of the top 1 percent has grown by roughly $1. 5 trillion.” He then naively proposed $2 trillion more in spending to stimulate the economy. Biden's astrologists have convinced him that double-counting is the same as economic growth. Back to reality, Treasury is only able to extract yet another $2 trillion from the U.S. economy as a consequence of 1 percenter production that's already happened. Translated, Biden is promising to create growth with growth that already occurred. Only economists and enabling journalists could believe what's so ludicrous. In reality, investment is the sole driver of economic advance. The Biden plain would shrink investment by $2 trillion so that the latter can be allocated in politicized fashion by Congress on the way to consumption. Meaning the Biden plan will subtract from recovery. The backwards number that is GDP continues to lead the mystics in the economics profession astray. The opinion piece can be found here (http://r20.rs6.net/tn.jsp?f=001zGrLmLr49klliq9-EvirPM1WFoBnzua17Wm2BHuaGlthIiozp_D0i8X0u0ct5VGq9PUWPOxfz9arOZEARhPGRSdzu4RgGdkrdxU8iQ9DkKjqX0aChEFGoIVzQpcFsx-MwA8V-woOI_Rme2PB2pK4JEZm4JejbesAT2HU-6v-cZJaCXFJS5BcPMt5RsLytCAR1dBHjnrLqIWObgRD93rJ9yaYrqqIOfn0t53gobHp5izbLXdLXlldXA882GQxY4yjQaI3uFoonhj6J--tfZGo6TAUUjc8vibUiFZskjHKLxJSTvvzZKDSSVtkDr0FkgA7BdiCb3fWm4Ve5wPsGyMy1Q==&c=RrXm0xo9uixBGVAJKydRIZvqyZ_ZoWsw0XPuIVJ6Sfxdmgu8Kx63XA==&ch=zzlPhMUNATr4mY58J99AFx4Bd-K54hFuLwORFNzKtyUnqUSC5NWLEA==) .