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Unleash Prosperity Hotline
Issue #1262
05/12/2025
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1) A Really Good Way To Lose the Race for the Cure

We love most of Donald Trump’s Executive Orders, but this one may be the worst.

Trump will order draconian price controls on almost all patented pharmaceutical drugs as a retaliation against the outrageous price controls imposed by foreign countries:
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Trump's right that these foreign price controls are a back door form of patent theft from our U.S. drug companies. It's the U.S. that covers the R&D costs and the lion's share of the return on capital investment.

It's a huge free rider problem. But we know medical price controls stymie innovation. Here's what happened in response to medical device price controls a few years ago based on a recent study ([link removed]) :
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Ironically, Trump has also said he wants to be the president who wins the race for the cure for cancer, Alzheimer’s, MS, and epilepsy.

We are for severe U.S.retaliation against foreign price controls on American-made drugs. But the victims of this policy won’t be foreigners, but Americans suffering from these terrible diseases.
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2) Yes to Trump's 15% Corporate Tax Rate

Speaking of putting America first, one of the jewels of the 2017 Tax Cuts and Jobs Act was the corporate rate cut, which brought the U.S. from the world's highest corporate rate to the middle of the pack. The economy boomed and contrary to the JCT/CBO predictions, revenues soared. More than $1 trillion of investment capital was repatriated back to these shores.

This 21% corporate rate was made permanent. But the job isn't done yet.

Trump rightly wants a 15% rate, which would give the U.S. an extra competitive boost.

The average rate in Europe is 21.5%, versus a US rate (including state and local taxes) of 25.6%. Trump's 15% rate would instantly make America the best place in the world to do business, raise productivity and real wages, and raise not lower federal revenues.

If Congress won't lower the rate to 15% for all American corporations, they should at least enact his "Made-in-America" rate of 15% for companies that predominantly make their products here in the U.S. That would encourage reshoring jobs to every state from Maine to Michigan to Montana.
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3) Trump Makes Showering Great Again

It only took 33 years, but last week, President Trump finally repealed a 1992 set of obnoxious Department of Energy regulations on water "conservation." These were the rules related to toilets, showers, dishwashers, and clothes washers that limited water use from these home appliances.

The regs were a constant annoyance to millions of Americans (including us) who complained of toilets that didn't fully flush, showers that dripped out water as if it were expensive champagne coming from the showerhead, and washers that had to run two or three times to clean clothes (hardly a good way to save water).

Trump criticized these regs as "unnecessary radical green agenda policies" that make water appliances "less reliable, more expensive and more breakable."

An earlier Trump order highlighted the lunacy of some of these federal rules:

"The Biden definition of a shower head was a staggering 13,000 words. The Oxford English Dictionary, by contrast, defines "showerhead" in one short sentence."

It's a long overdue win for American consumers, and Congress should follow Trump's recommendation to remove the George H.W. Bush law that started all this mess from the books completely.
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4) America Leads the World in Reducing Greenhouse Gases

Here's something that is rarely - if ever taught in high school and college: The latest data on emissions of carbon dioxide show that the U.S. has reduced our emissions by nearly 20% over the past decade or so.
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Most HOTLINE readers are smart enough to know this has nothing to do with windmills or solar panels.

The real contribution to reduced emissions has been the explosive growth of cheap and abundant natural gas. We're not overly concerned with CO2 – but those who are should be singing the praises of natural gas.
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5) Jamie Dimon: The Real Problem Is “Blue Tape,” Not “Red Tape“

JPMorgan Chase CEO Jamie Dimon is becoming quite vocal about the need for Democrat-Run cities to improve their governance.

Last week, he visited Los Angeles, where a JP Morgan bank branch was destroyed by the Palisades Fire. He toured the new branch being built, rallied the employees and had some tough words for California's government.
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In a previous California visit, Dimon unloaded on San Francisco. "Any city who doesn't do a good job, it will lose its population -- just tax more and more, it doesn't work.... you should be saying 'I want an efficient government.'"
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6) If Today's Judges Sat on the Bench 160 Years Ago

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