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-----Original Message----- From: David J. Theroux [mailto:DJTheroux@independent.org] Sent: Monday, December 24, 2001 5:48 PM To: Lighthouse Subject: THE LIGHTHOUSE: December 24, 2001 THE LIGHTHOUSE "Enlightening Ideas for Public Policy..." Vol. 3, Issue 51 December 24, 2001 ------------------------------------------------------------- IN THIS WEEK'S ISSUE: 1. Defunct "Stimulus" Package Is Uncle Sam's Unintended Gift 2. Ode to John Ashcroft and Civil Liberties 3. A Christmas Reflection 4. More Year-end Giving Tips -- plus a Bonus! -------------------------------------------------------------- Welcome to The Lighthouse, the e-mail newsletter of The Independent Institute, the non-politicized, public policy research organization <http://www.independent.org<;. If you know someone who would enjoy THE LIGHTHOUSE, please forward this issue. If they like it, they can add themselves to the list at http://www.independent.org/tii/lighthouse/Lighthouse.html. -------------------------------------------------------------- DEFUNCT "STIMULUS" PACKAGE IS UNCLE SAM'S UNINTENDED GIFT Uncle Sam sent taxpayers an unexpected gift last week: an economic "stimulus" package that never made it off Capitol Hill. Many economists, critical of the proposed government spending increases, have pointed out that the economy had already started to show signs of recovery anyway. Other critics correctly point out that the "stimulus" had enough pork to keep special-interest groups hibernating high on the hog till next winter. There is, however, another reason to have frowned at Washington's "stimulus" proposals and to rejoice at their demise. Government "stimulus" packages are not, as environmentalists might say, "sustainable." They merely crowd out or postpone increases in private investment -- the fuel of economic recovery. And when a government "stimulus" is financed by inflation, it tends to undermine the source of that fuel: capital formation. This holiday season we can thank Congress for its inability to agree to "help" the economy. But, unfortunately, we're still haunted with visions of Christmas past, when bad legislation has gone back to conference committees only to be return as even worse legislation. Too bad Washington, DC, doesn't have a "no returns" policy. For more on the economic benefits of political gridlock, see "Divided We Stand, United We Fall," by Richard Vedder, senior research fellow at The Independent Institute, at http://www.independent.org/tii/news/9712Vedder.html. Also see, "Is Macroeconomics Believable?" by Ben W. Bolch (THE INDEPENDENT REVIEW, Spring 1998), at http://www.independent.org/tii/content/pubs/review/TIR24_bolch.html. -------------------------------------------------------------- ODE TO JOHN ASHCROFT AND CIVIL LIBERTIES So long as Americans have freedom of speech, there is hope that the flame of liberty will remain lit. In that spirit, we offer the following ditty posted on the website of The Nonviolence Web. "Ode to John Ashcroft and Civil Liberties" (Sung to the tune of "Santa Claus is Coming to Town") You better watch out, You better not pout, You better not cry. I'm telling you why. John ashcroft's coming to town. He sees you with your lawyer. He listens to every phone; He reads everyone's email, and he locks you all alone. With little tin guns And tiny cellphones Rooty hoot, hoot, he's breaking in homes, Big Brother is coming to town. He knows when you are traveling. He knows who you're around; Tried in military courtrooms, Not a lawyer can be found. He's makin' a list, and checking for race, Gonna arrest those who are dark of face. Big Brother's coming to town. You better watch out, You better not pout, You better not cry. I'm telling you why. Big Brother's coming to town. See http://www.independent.org/tii/lighthouse/LHLink3-51-1.html. Also see: "Looking Who's Looking," by Ron Gurantz, (10/22/01), at http://www.independent.org/tii/news/011022Gurantz.html. "Watching You: Federal Surveillance of Ordinary Americans," by Charlotte Twight (THE INDEPENDENT REVIEW, Fall 1999) http://independent.org/tii/content/pubs/review/TIR42Twight.html. "Conning Congress: Privacy and the 1994 Commuications Assistance for Law Enforcement Act," by Charlotte Twight (THE INDEPENDENT REVIEW, Fall 2001) http://www.independent.org/tii/content/pubs/review/tir62_twight.html. -------------------------------------------------------------- A CHRISTMAS REFLECTION Christmas, a holiday rooted in both Christianity and pre-Christian celebrations of the winter solstice, is also an appropriate time to reflect upon the secular values that have helped Western civilization over the course of two tumultuous millennia. Among these values: freedom of conscience, peace on Earth, and goodwill toward men. These values transcend any particular religion; they are in fact articulated in varying degrees by most of the world's religions. Yet they have found their fullest expression in the West. Why? Because in Western culture more than in any other, the individual counts. "This empowerment of the individual is unique to Western civilization," writes Paul Craig Roberts. And it is this individualist precept -- respect for the dignity and worth of each human life -- that holds the key to understanding the unique institutions of the West. The West's individualism, writes Roberts, "permits an individual person to put his or her foot down, to take a stand on principle, to become a reformer and take on injustice.... It has made the individual a citizen equal in rights to all other citizens, protected from tyrannical government by the rule of law and free speech." Just as freedom in the West has unleashed in the marketplace the progressive forces of what one economist termed "creative destruction," so freedom in the West has unleashed a similar phenomenon in the marketplace of ideas. This perhaps is the West's supreme paradox (and achievement) -- its tradition of questioning even tradition itself. Concludes Roberts: "Be we religious or be we not, our celebration of Christ's birthday celebrates a religion that made us masters of our souls and of our political life on Earth. Such a religion as this is worth holding onto even by atheists." See "The Greatest Gift," by Paul Craig Roberts (12/19/01), at http://www.independent.org/tii/lighthouse/LHLink3-51-2.html Also see, "The Drama of Western Identity," by David Gress (THE INDEPENDENT REVIEW, Winter 2000) at http://independent.org/tii/content/pubs/review/TIR43Gress.html, and "Freedom of Religion and Public Schooling," by James Otterson (THE INDEPENDENT REVIEW, Spring 2000) at http://www.independent.org/tii/content/pubs/review/TIR44Otteson.html. ------------------------------------------------------------- MORE YEAR-END GIVING TIPS -- PLUS A BONUS! Last week's LIGHTHOUSE item regarding making a year-end contribution inadvertently omitted the qualifier *federal* taxes in discussing the tax ramifications of gifting stock. As state and local tax codes can have varying provisions, be sure to check these -- and, as always, with your own tax adviser -- prior to making a charitable gift decision involving stock. Remember, there are still seven days in which to take advantage of possible savings off of your 2001 taxes by giving to The Independent Institute. Your support will help us continue producing our popular, weekly, e-mail newsletter, THE LIGHTHOUSE, as well as pursuing innovative and path-breaking solutions to today's pressing challenges. If you've already made a gift this year, your expanded support with an additional year-end bonus contribution will help fuel even greater efforts. You may mail a check dated prior to the end of the year, or call, email, or fax us your credit card number and amount of donation you wish to make. For further information on the benefits from various Independent Associate Membership levels, please visit the following: http://www.independent.org/tii/tii_info/associat.html. If you prefer to give using securities, it's easy to do so via an electronic transfer. Call, fax or e-mail us for easy instructions on doing so. Again, contributions to The Independent Institute are tax-deductible to the extent allowable by law, and are used to further efforts to expand the benefits of a free society. Plus, as our gift to you, with your membership of $100 or more, you will receive a FREE copy of one of the following new Independent Institute books, American Health Care, Can Teachers Own Their Own Schools?, Cutting Green Tape, Fire & Smoke, or Writing Off Ideas (please specify). For further information about giving to The Independent Institute and to select your Free book, please visit: http://www.independent.org/tii/tii_info/associat.html Thank you again for your support! ------------------------------------------------------------- For previous issues of THE LIGHTHOUSE, see http://www.independent.org/tii/lighthouse/Lighthouse.html. ------------------------------------------------------------- For information on books and other publications from The Independent Institute, see http://www.independent.org/tii/pubs.html. ------------------------------------------------------------- THE LIGHTHOUSE, edited by Carl P. Close, is made possible by the generous contributions of supporters of The Independent Institute. To subscribe (or unsubscribe) to The Lighthouse, please go to http://www.independent.org/subscribe.html, choose "subscribe" (or "unsubscribe"), enter your e-mail address and select "Go." ------------------------------------------------------------- THE LIGHTHOUSE ISSN 1526-173X Copyright ? 2001 The Independent Institute 100 Swan Way Oakland, CA 94621-1428 (510) 632-1366 phone (510) 568-6040 fax
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