Inflation and Discovering the True Worth of the Dollar

Economist Brian Domitrovic explains why inflation has reached levels not seen since the 1970s. Andi Buerger talks about a sex education bill that could lead kids to harm. Bill of the Day HB22-1121, Supporting Local Media. The bill is sponsored by Democrat Lisa Cutter, a self-proclaimed environmental champion who sells advertising services. The bill is designed to force state agencies to spend at least half of their ad budgets on newspapers, generating potentially tons of unread newsprint.

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The Kim Monson Show
The Kim Monson Show
Inflation and Discovering the True Worth of the Dollar

Brian Domitrovic on the Current Inflation

Economist and author Brian Domitrovic analyzes and explains the second wave of inflation by comparing it to the first run (the “Great Inflation“) from the mid-1960s through 1982. The dollar decoupled from the gold standard during the first inflation run. The inflationary spike that followed resulted in consumers finding the dollar’s actual worth through price discovery. In the 80s, Reagan-era tax cuts took the pressure off the economy and enhanced the demand for the collar. As a result, price discovery abated. The current run of inflation results from the dollar not returning to the gold standard. Domitrovic explains more in his interview with Kim during the first hour. Be sure to read his latest Forbes article on the subject, Inflation, Omen Of Creative Destruction.

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Bill of the Day HB22-1121, Supporting Local Media

Bill summary:

The bill requires all state departments to spend at least 50% of the money they spend on advertising to Colorado residents in a fiscal year on advertising through local newspapers. The bill further requires all departments to report on their advertising spending during their annual “State Measurement for Accountable, Responsive, and Transparent (SMART) Government Act” presentations.

The bill also creates an income tax credit for supporting local newspapers. For income tax years beginning on or after January 1, 2023, but before January 1, 2033:

  • A taxpayer is allowed a credit against their income taxes in an amount equal to 50%, not to exceed $250, of the total amount paid by the taxpayer for local newspaper subscriptions or memberships for the personal use of the taxpayer and of the contributions made by the taxpayer to nonprofit local newspapers; and
  • A small business is allowed a credit against their income taxes, not to exceed $2,500, in an amount equal to the amount paid by the eligible small business for local newspaper advertising.

If the amount of the credit allowed exceeds the amount of income taxes otherwise due in the income tax year for which the credit is being claimed, the bill permits the amount of the credit not used in the income tax year to be carried forward as a credit against subsequent years’ income tax liability for a period not to exceed 10 years. Any amount of the credit that is not used after such period is not refunded to the taxpayer.

Bill of the Day HB22-1121, Supporting Local Media, is sponsored by lone Democrat Representative Lisa Cutter. The bill seems designed to subsidize newspapers through tax dollars. What if the department needs to advertise to an audience that can’t be reached through newspapers? At this point, that would be most of the population. Cutter owns a communication firm and sells advertising services. It would surely be a coincidence if her company landed contracts with state departments due to this bill’s passage.

Cutter also claims her priority is to champion “legislation to care for our planet through environmental legislation.” Yet, she is sponsoring a bill that is would create layers of bureaucracy, hence more carbon output, and not to mention tons of extra newsprint that no one will read. 

Also in today’s show:

Andi Buerger of Voice Against Trafficking on Upcoming Sex-Ed Legislation

In the second hour of the show, Andi Buerger and Kim discuss sex education legislation designed to force the topic of sex onto kids at a young age. This in turn makes the kids vulnerable to sexual predators.

Candidate Interview with Brandi Bradley

Brandi Bradley joins Kim in the first hour to explain why she is running for Colorado State House District 39. Learn more about Bradley’s campaign here. Go here to donate.

Keith Rennison

Thank you to speaker/presenter Keith Renninson for his partnership/sponsorship of the show. His power to lift your spirit and motivate you is amazing!

The Kim Monson Quote of the Day for March 14, 2022

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