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Unleash Prosperity Hotline – Weekend Edition
Issue #1266
05/16/2025 – 05/18/2025
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1) Don't Tax Remittances

Trump was smart to shut down much of the corrupt foreign aid industrial complex. That money rarely trickles down to the very poor and instead ends up in the black hole of NGOs.

But there is one form of foreign aid that works to help to reduce poverty in the poorest countries: direct remittances of about $100 billion a year from immigrant workers in the U.S. to their families who stayed back home. Unlike government foreign aid, these dollars transfer right into the hands of people who need the money for food or housing or schooling or medical care.
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In most cases, payroll and income taxes have already been deducted from the immigrants' paychecks before remittances are made.

This new provision is just an unfair double tax that will hurt the poor the most, and will likely lead to under-the-table payments to get around the tax.
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2) Yes, the Smoot-Hawley Tariff Really DID Cause the Great Depression

We still get a lot of pushback from friends and adversaries alike on the issue of whether the Smoot-Hawley tariff, signed into law by Herbert Hoover, was a major cause of the Great Depression. It inarguably was. The chart below from Laffer Associates shows what happened to the global trading system in the wake of the giant tariff. Interesting too that we ran a trade SURPLUS during the Depression.

You can also see that what poured gasoline on the fire was when Hoover more than doubled income tax rates to try to balance the budget in 1931 and 1932. Did we mention that Smoot, Hawley and Hoover were all Republicans? No wonder Democrats ran against Hoover Republicans for the next 40 years.
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3) Latest Census Data on Cities – Florida and Texas Still Way At the Top

The new 2024 Census Bureau city population estimates, find that eight of the fastest growing since the 2020 census (out of the more than 19,000 incorporated cities) were in the South (all Red States). San Antonio gained the most over the four year period, at 92,000 new residents. The cities of Houston and Fort Worth were close behind, at 90,000 each. The balance of the top ten included Charlotte, Jacksonville, Port St. Lucie, Florida, Phoenix, Miami, Seattle and Cape Coral, Florida. Moreover, Florida had four of the top ten, while Texas had three (Figure).

Meanwhile, all of the top five percentage gainers over the past year were in Texas or Florida. Princeton, Texas (not New Jersey) gained 30.6%, followed by Fulshear, TX (26.9%), Leesburg, FL (18.5%), Celina, TX (18.2%), and Anna, TX (14.6%). The Texas cities are suburbs of Dallas-Fort Worth and Houston (Figure).

Fort Worth became the 11th US city to achieve a population of more than one million.
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4) Chicago Won't Even Sell Abandoned School Buildings to Private or Charter Schools

If there is any city in America that desperately needs more school competition, it's Chicago. As we've written in the past, there are more than two dozen Chicago public schools where no child is reading or doing math at grade-level proficiency, even though the city spends roughly $30,000 per pupil.

The teacher unions have done all they can to stop charter schools, Catholic schools, home schooling, and voucher schools. The education blob views private schools as "enemy territory" to be colonized.

In 2023, the unions and Governor Pritzker terminated the successful Invest In Kids Scholarship Program that allowed over 9,600 low-income students to escape horrible public schools.

Here's the latest outrage.

The Chicago Public School system (CPS) is selling off 21 properties, but with the requirement that buyers can't use them to sell liquor or tobacco OR, get this, reopen them as charter or private schools.

The Chicago Tribune observed: "That's like selling a candy factory and banning the new owners from making chocolate... If CPS were to create a warning label for this trio, it would read something like: May cause lung cancer, cirrhosis and literacy. This is absurd."
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In many cities with thriving charters and scholarship programs, new alternative schools take over abandoned public schools - and thrive.

But not in Chicago where kids don't come first. Protecting the blob does.
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5) Meet the Green New Deal Republicans

We mentioned earlier in the week that the House draft tax plan extends many of Biden's worthless climate change programs for windmills, batteries and solar panels.

During the 2024 campaign, Donald Trump told the New York Economic Club that he would "terminate the Green New Deal, which I call the Green New Scam" and pledged to 'rescind all unspent funds under the misnamed Inflation Reduction Act."

Climate energy expert Shuting Pomerleau estimates the House tax bill repeals only some 60% of the ten-year cost of the Biden Inflation Reduction Act credits.

Senator Mike Lee of Utah is right that it is imperative that every possible green dollar be stripped out of the bill to avoid keeping alive a multi-trillion dollar energy entitlement program that has no caps, sunsets, or accountability. His new bill would eliminate more than 20 tax credits for tax years beginning after this December.

Here is our prediction: if these subsidies aren't killed NOW, they will be with us close to forever.
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6) Trump's Latest Plan for Greenland

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