It's no secret that private property rights constitute a natural human right, as well as the foundation for prosperity and innovation across time and geography. And among the forms of private property, it's important to recognize that intellectual property (IP) constitutes a core component.
For proof, look no further than the U.S. Chamber of Commerce's annual International IP Index, which year after year confirms the cause-and-effect relationship between IP protections and prosperity:
The most up-to-date data on the benefits of IP protection reveals that IP is, in fact, a critical instrument for countries seeking to enhance access to innovation, grow domestic innovative output, and enjoy the dynamic growth benefits of an innovative economy. …[more]
From time immemorial, Congress has drawn citizens' wrath by habitually taking the easy or popular route instead of the right or courageous path.
So when Congress pursues the proper but politically riskier course, we should collectively take note and applaud it.
Last week provided such an occasion when Congress utilized the Congressional Review Act (CRA), which was enacted in 1996 as part of the Contract with America, to overturn a defective "privacy" regulation imposed by the Obama Administration's Federal Communications Commission (FCC) on a narrow party-line vote last…
"President Trump moved Wednesday to fulfill one of his key campaign promises, outlining a dramatic plan to slash taxes for nearly all individuals and businesses and give the tax code its biggest overhaul in three decades. ... Predictably, Democrats like Sen. Chuck Schumer instantly dismissed the proposal with their usual mantra of 'a tax giveaway to the very, very wealthy.' Well, let them propose…[more]