FEE: Professionally Clever (I Don�t Want Your Waiter�s Money)

            by ANDREW HEATON             You may be alarmed to discover that sequestration affects not only sequestration leads to the involuntary fiscal liposuction of our federal budget, the National Endowment for the Arts (NEA) will tighten its belt by $7.3 million. That reduction will leave the NEA with an anemic $139.7 million to distribute grants among creative people like me who, apparently, are unable to persuade people to pay them for their services.             Public funding of the arts is contentious. You may recall that in the last presidential election Mitt Romney caught a lot of flak when he told Jim Lehrer that he …

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Cafe Hayek: Maximum Illogic

            by DON BOUDREAUX             Here�s a letter to the Wall Street Journal:             Ralph Nader suggests that the only argument that minimum-wage opponents muster against that policy is that it harms small businesses (�America�s Miserly Minimum Wage Needs an Upgrade,� April 16).  He�s wrong.  Overwhelmingly, the chief argument against the minimum wage is that it reduces low-skilled workers� employment opportunities.  Mr. Nader�s ignorance of the contours of this policy debate alone disqualifies him to comment on the matter.               But to support his case for raising the minimum wage by 47 percent Mr. Nader also serves up several …

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Menckenism: Poverty Professionals And The Crony Capitalists Who Love Them

            by BILL FREZZA             Yes, it looks like a wedding announcement out of The Onion, but when it comes to making a killing off the never-ending �War on Poverty,� the marriage of convenience between the financial services industry and federal bureaucrats is no laughing matter.             The idea that government welfare programs could eliminate poverty, rather than temporarily alleviate its worst impacts during hard times, took root during Lyndon Johnson�s Great Society initiative. From modest beginnings, a panoply of federal welfare programs expanded and multiplied to the point where they now consume one-sixth of the federal budget�some $588 billion last …

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Peter Schiff on Gold

            Peter Schiff, broker, author and financial commentator, reflects on the historic drop in the price of gold, and where this financial chaos is headed.  Read the article here.             "When the reign of 'king dollar' finally comes to a belated end, let's hope all the gold we allegedly have stored in Fort Knox is actually there. We're going to need every ounce of it." – Schiff

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