6 random things for Friday (GOP tax bill, 2017 Candlemaker Petition, Save the Rhinos!)

News Story of the Day: is the Republican tax plan in jeopardy?

Florida Senator Marco Rubio and Utah Senator Mike Lee want to expand the child tax credit. Tennessee Senator Bob Corker will oppose the Tax Cut and Jobs Act. Maine Senator Susan Collins is undecided.

But President Donald Trump is confident that the tax initiative will pass because he is willing to help increase the proposed child tax credit.

In the end, he thinks the tax plan will do “very, very well.”

If he is willing to expand the child tax credit, then why not do some other things? Slash tax rates to nothing, slash spending, and cease shifting tax burdens.

Chart of the Day: are you better or worse off than you were 50 years ago? For the most part, everyone in the world is a lot better off, especially the Soviet blocs. Despite hiccups in our societies, we should be pleased with the way things are going, thanks to markets. Here is a chart that takes a look at the better/worse answers worldwide – no surprise that Venezuela, a socialist paradise, is at the bottom of the list:

Illustration of the Day: the marketplace has really changed over the last 100 years. Facebook wasn’t even around 20 years ago, but now it is one of the most valuable companies in the world today. Visual Capitalist has a new infographic that looks at the most valuable companies over the last 100 years:

The Most Valuable Companies in the U.S. Over 100 Years

Quote of the Day: Mark Perry of the American Enterprise Institute (AEI) has published the 2017 version of Frederick Bastiat’s legendary Candlemaker Petition. Here is an excerpt:

Simply put, the American lighting industry is suffering from the damaging competition of a foreign rival whose conditions are so far superior to our own for producing light that it is flooding the American market with light at an incredibly low, unfair price. That is, this foreign producer is “dumping” light into the US economy to our great disadvantage. The moment the foreign rival appears, our sales of lighting fixtures drop precipitously, all cost-conscious American consumers turn to him, and an important segment of American industry is reduced to economic stagnation, with the accompanying loss of American jobs and the impoverishment of our country.

Who is this foreign rival? It is none other than the sun, and it is waging war on the American lighting industry so mercilessly that we suspect it must be unfairly receiving subsidies that allow it to dump sunlight on the American market at a price below the cost of production. We seek your protection against this ruthless rival.

Specifically, to help make America great again, we ask the Trump administration to save our industry by passing laws that require the permanent closing of all windows, skylights, shutters, curtains, and blinds — in short, all openings in US buildings that allow the free natural light of the sun to enter our houses and buildings, to the great disadvantage of the domestic lighting industry. Please don’t abandon an important US industry today to a rival that has such an unfair advantage because of such an unfair natural geographic location.

Tweet of the Day: the fake news emanating from the media pertaining to the Trump administration is not only destroying the credibility of the CNNs, the Washington Posts, and the Politicos of the world, it is also empowering the president.

Video of the Day: Save the rhinos! But how? The entrepreneurial spirit!

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