Who owns America?

In a recent column in Lexington’s TOPS Magazine, financial advisor Tom Dupree — a supporter of liberty and free markets — asks important questions that policymakers in Frankfort and Washington need to consider.

“Is America owned by those who have the power to tax and confiscate away things that others have worked to build and own?” Dupree queried. “Or is America owned by those who love it and who will continue to build and rebuild that which is taken from them or destroyed?”

While Dupree was responding primarily to the election of President Obama and the concerns over his collectivist policies, he made some salient points that should be considered as state lawmakers begin another legislative session and consider tax reform, which so often is politician-speak for “tax increase.”

Frankfort’s confiscatory policies — as well as those heaped upon us by Washington — often take from the producers, who, as Dupree puts it, “have no say in whether or not they pay it and for what it will be used.”

It relates to a question we’ve asked many times at the Bluegrass Instiute: Who knows better how to spend your hard-earned money, educate your children and determine your future — government or the producers?

Read Dupree’s complete column by clicking here and then going to Page 98.

Also, check out “The Tom Dupree Show” Saturdays from 6 a.m. to 9 a.m. on Lexington’s NewsRadio 630 WLAP-AM, or at www.wlap.com.

Reason.tv looks at ‘School Choice Week’

This video by Reason.tv features highlights from the School Choice Week kickoff in New Orleans.

“People tend to focus more on adult issues than kid issues…if we focus on children…we wouldn’t be arguing about the dollars…”

We need school choice in Kentucky.

So long, ear X-tacy

When I moved to Louisville from Murray, Kentucky in 1995, ear X-tacy was the place where you went to get your music. Period. With thousands of square feet situated in just the right spot on Bardstown Road, it served as a magnet for music evangelists, eager newbies and local bands vying for attention and a small share of Louisvillians’ music budgets. I’m almost ashamed to admit how much of my current musical tastes I first discovered in that store. Their trademark bumper stickers found their way onto instrument cases and served as a clear declaration that you liked music and you were from Louisville.

Like so many iconic record stores, ear X-tacy recently closed its doors. As part of a series entitled “Hard Times: A Journey Across America,” NPR reporter Debbie Elliott talks with ear X-tacy owner John Timmons. They tell the same story: It was the economy! Unfortunately, while the recession has taken its toll, the tale of the beleaguered local record store as told by NPR gets it just about completely wrong.

I have a less controversial claim: It was the creative destruction! Compact disc sales have bottomed out in the last decade, replaced largely with digital sales at places like iTunes. The only real bright spot of the physical product called music is the long play record, but LPs represent only a tiny fraction of music sales today. The consumer has spoken. Audiophiles are reverting to (or sticking with) LPs. Everyone else has gone digital. NPR’s story makes only passing reference to competitive pressure from digital sales.

I’m sad to see ear X-tacy go, but I have a wider variety of music available in seconds than ear X-tacy could provide with vastly more floor space and another million dollars in inventory. I doubt many of ear X-tacy’s departed customers would switch back to the slow, labor-intensive mid-1990s model of music distribution. There’s ample evidence that they’re plenty pleased with their choice.

When I moved to Louisville from Murray, Kentucky in 1995, ear X-tacy was the place where you went to get your music. Period. With thousands of square feet situated in just the right spot on Bardstown Road, it served as a magnet for music evangelists, eager newbies and local bands vying for attention and a small share of Louisvillians’ music budgets. I’m almost ashamed to admit how much of my current musical tastes I first discovered in that store. Their trademark bumper stickers found their way onto instrument cases and served as a clear declaration that you liked music and you were from Louisville.

Like so many iconic record stores, ear X-tacy recently closed its doors. As part of a series entitled “Hard Times: A Journey Across America,” NPR reporter Debbie Elliott talks with ear X-tacy owner John Timmons. They tell the same story: It was the economy! Unfortunately, while the recession has taken its toll, the tale of the beleaguered local record store as told by NPR gets it just about completely wrong.

I have a less controversial claim: It was the creative destruction! Compact disc sales have bottomed out in the last decade, replaced largely with digital sales at places like iTunes. The only real bright spot of the physical product called music is the long play record, but LPs represent only a tiny fraction of music sales today. The consumer has spoken. Audiophiles are reverting to (or sticking with) LPs. Everyone else has gone digital. NPR’s story makes only passing reference to competitive pressure from digital sales.

I’m sad to see ear X-tacy go, but I have a wider variety of music available in seconds than ear X-tacy could provide with vastly more floor space and another million dollars in inventory. I doubt many of ear X-tacy’s departed customers would switch back to the slow, labor-intensive mid-1990s model of music distribution. There’s ample evidence that they’re plenty pleased with their choice.

Timmons rightly identifies strongly with the store he built that delivered so much value to customers like me. He should be proud. But blaming the economy for an obvious, decade-long trend is a bit like the local ice delivery man faulting the economy when his customers merely switched to Frigidaires.

An Unsustainable Path: The Past and Future of Kentucky Medicaid Spending

Kentucky Medicaid is on an unsustainable path. Its expansive spending growth over the past 25 years has put increased pressure on state and federal budgets. Medicaid has failed to fulfill the goal of improved health for most of its recipients. The recently passed Patient Protection and Affordable Care Act (PPACA) did not enact any fundamental reforms in Medicaid but expanded the program dramatically. Kentucky and the nation deserve much better regarding serving the taxpayers and in crafting a program that assists the truly needy. Read the full report here.

 

Stimulus Fail

BIPPS.org - Stimulus Fail

Louisville, KY received $458 million in “stimulus” funds from the federal government and used it to create only 1,152 jobs after 14 months. That works out to $397,569.44 per job.