CEI Daily Update
Issues in the News
The Federalist Society hosts a forum on state attorney general activism.
Since the tobacco Master Settlement Agreement came up repeatedly in the discussion, it’s worth mentioning that the tobacco settlement imposes disproportionate burdens on certain states, like Colorado and Virginia. As Stanford’s Jeremy Bulow and others have observed, the tobacco settlement effectively redistributes money from states that have growing rapidly growing populations (like Colorado), or growing populations and high cigarette sales (like Virginia) to states with stagnant populations (like New York State, which has 7 percent of the country’s population but receives an eighth of the tobacco settlement).
An epidemic of dengue fever rages across several Asian nations.
The spread of Dengue could eventually affect the United States, as it did in 2001 when there was an outbreak in Hawaii. U.S. public-health officials quickly controlled that outbreak with the assistance of pesticides. Unfortunately, many nations do not have access to the products we use, which are expensive. They stand to lose the most from green activist campaigns against products like DDT, which otherwise could offer a safe, affordable, and effective tool in this battle.
Members of Congress consider enacting a tax increase on private equity and hedge fund managers.
In other words, if you own a real estate investment trust (REIT) in your portfolio, the person hit with this ‘rich man’s’ tax hike would be you! So if this legislation passes, some congratulations are in order. Without earning any extra money, you’ve just achieved the status of a private equity baron! But only for tax purposes.
Blog feature: For more news and analysis, updated throughout the day, visit CEI’s blog, Open Market.
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