Tues Blogcast: NO on LL and MM; Doomberg; Boo at the Zoo; TABOR court win

Vote NO on Propositions LL and MM

What to know about Propositions LL and MM, CO's universal school meals program

The idea of giving "free" school lunches to middle-class and rich kids was so stupid that even Governor Polis wouldn't support it so Democrats in the state legislature referred it to voters in 2022 (as Proposition FF) and, Colorado now being to the left of California, it passed by a wide margin (roughly 57-43). The "free" lunch program -- and remember that low-income kids already got lunch (and often breakfast) at no cost to them -- is funded by capping state income tax deductions allowed for people who earn over $300,000 a year.

Of course, libertarian-leaning sci-fi author Robert Heinlein reminded readers of "TANSTAAFL", i.e. There ain't no such thing as a free lunch. In economic terms there are a few ways to think about that maxim. First, almost nothing is actually "free"; most things that are called "free" are more properly considered as "paid for by other people." Other ways to think about it are in this note: TANSTAAFL, There Ain't No Such Thing as a Free Lunch - Econlib

When you offer lots of people "free" lunch, lots of people will take you up on the offer, and they did. So the "free" school lunch program doesn't have nearly enough money to operate. Thus, Dems are coming back to take more from taxpayers, this time by essentially eliminating state tax deductions for those with the misfortune to earn $300,000 a year or more. Proposition LL would allow the state to retain and spend -- rather than having to return in TABOR refunds -- money already collected by soaking the "rich" under current law. Proposition MM would then do what I mentioned above, raising taxes on those earning over $300K...AND if they steal more money than they need for the "free lunch for rich kids" program, they can divert the money into the food stamp (aka SNAP) program.

Proposition LL: Retain and Spend State Revenue Exceeding the Estimate for Proposition FF

Proposition MM: Increase State Taxes for the Healthy School Meals for All Program

These ballot measures are ridiculous. The "free" lunches for middle-class and rich kids are ridiculous. Everything about this is what's wrong with letting "progressives" set policy, because they forget that at some point you run out of other people's money.

I urge you to vote NO on both LL and MM.

Today's Guests

"Doomberg" is a green chicken that has the most successful finance-related Substack, mostly focused on energy policy and international competitiveness issues, especially regarding natural resources and technology. The chicken has consistently been warning that the US does not have nearly the negotiating leverage over China in trade talks that President Trump believes.

Gloves Off - Doomberg

90% of the Law - Doomberg

Related: US and Australia sign critical-minerals deal | AP News

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Jake Kubié is Director of Communications for the Denver Zoo & Conservation Alliance. He'll tell us about the last weekend (this coming weekend!) of Boo at the Zoo and I'll have some tickets to give away.

Boo at the Zoo - Denver Zoo Conservation Alliance

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Tyler Martinez, a Colorado native and graduate of the Leadership Program of the Rockies and the University of Colorado Law School, is senior attorney at NTUF’s Taxpayer Defense Center. We'll talk about their recent victory against a Colorado water district that raised taxes in violation of TABOR and now has to return money to taxpayers.

Exclusive: District to repay $3 million to property owners | Colorado | thecentersquare.com

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Other Stuff

That seems like a lot: Proxy advisor ISS opposes Tesla CEO Elon Musk $1 trillion pay plan

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Important for metro Denver...and not improving: RTD ridership still falling as state pushes transit development

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I really hate the framing of this, though it's not surprising given the source. The idea of "climate progress" is ridiculous, and even if you believed in it you should be very skeptical of plans that essentially ignore costs. Because it's not as much science as religion.

County pushback on solar projects slows climate progress, Colorado report says

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Antisemitism is rampant in Europe. Fear of Muslims is rampant in the UK. This is just a small example: An English City Bars Israeli Soccer Fans - WSJ

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Japan has its first female prime minster. She's conservative (but that could mean something different than what you're used to, such as that she favors high levels of government spending), she loves cars and heavy metal music, and she's a drummer: Takaichi elected Japan's premier, shattering glass ceiling with hard-right turn | Reuters

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Seems like a good idea: Denver auditor to evaluate city’s homelessness programs, budget process and 16th Street project

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High five! The first known high-five wasn’t until 1977. - Interesting Facts

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I like free WiFi: United Airlines flights from DIA equipped with speedier Wi-Fi

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This seems obviously correct: Appeals court finds Denver jury convicted man for possessing more fentanyl than evidence showed - Denver Gazette

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I think this is a win-win for CU Denver and for Aurora: CU Denver will guarantee admission for some Aurora Public Schools students | FOX31

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I didn't get to this yesterday: Bolton Indictment: Lawfare & Real Misconduct Are Not Mutually Exclusive | National Review

The actual indictment: bolton-indictment.pdf

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What might the Louvre thieves do with their loot? The Murky Underworld Where the Louvre Thieves Hope to Hawk Their Stolen Jewels - WSJ

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I'm happy about this even as I have slight qualms about this level of regulation. I also note that I didn't realize the existing law didn't apply to streaming services. I've said sooooo many times in the past few months (to my wife), "it's very annoying how loud the ads are".

‘Dial it down’: California forces Netflix, Hulu to lower ad volume - POLITICO

Europe has no companies in the 25 biggest companies in the world, and the US should not elect politicians who want to implement European-style policies: 0How Europe crushes innovation

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I encourage Manitou Springs voters to vote "no": Manitou city council backs tourist tax hike despite strong showing by businesses - Colorado Springs Gazette

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This is one of the few things that could cause a little distance between Trump and his base...but not enough that they'd actually abandon him, not even close: Trump's foreign policy focus undercuts his America First message

Somewhat related: Trump plan to import Argentine beef angers US farmers

For the record, the idea that importing stuff somehow violates "the free market" is truly Orwellian use of language.

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Didn't get to this yesterday: Shohei Ohtani's Truly Awesome Performance - The Atlantic

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Today's Videos

This could be the scariest puppy I've ever seen

Demolition at the White House (to make room for the new Trump ballroom)

White House starts East Wing demolition for Trump's ballroom | AP News

Lots of pictures: 49 East Wing Photos & High Res Pictures - Getty Images