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Katherine Mangu-Ward Discusses the Cronyism Behind Discount VIP Loans for Congressmen

Mon, 09 Jul 2012 00:00:00 EDT

Reason Managing Editor Katherine Mangu-Ward discusses the controversy surrounding Countrywide making loans to government workers that have lower interest rates than normal loans and how easy it is to influence congressmen on CNBC's Closing Bell. Airdate: July 6, 2012.

4.39 minutes.

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James V. DeLong on Ending "Big SIS" (The Special Interest State)

Tue, 03 Jul 2012 00:00:00 EDT

"Obamacare is not, as one judge says, a national solution to a problem," argues James V. DeLong. "It's 2,000 pages...of special-interest-written law."

As such, it exemplifies what DeLong, a long-time Washington insider who has worked for many think tanks and government agencies, denounces as "Big SIS" or the "special-interest state." In his scathing - and utterly convincing - new book, Ending Big SIS and Renewing the American Republic, Reason Contributing Editor DeLong traces how "the political system creates economic advantages for special interests and then demands that part of the profits be fed back into the political system, where they are used to enhance the power of the political incumbents."

Whether the topic is defense spending, agricultural subsidies, health care, or the financial sector, DeLong documents the pervasive rot at the core of Washington's way of doing business - and provides ideas for cutting Big SIS down to size.

For more information on the book and DeLong, go to here. For his Reason archive, go to here.

About 6 minutes. Produced by Joshua Swain. Interview by Nick Gillespie. Camera by Meredith Bragg, Jim Epstein, and Swain.

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Follow Reason on Twitter and follow Gillespie.

Harris Kenny Discusses Privately Run Prisons, Drug Policy, & Immigration on Al Jazeera's The Stream

Fri, 06 Apr 2012 00:00:00 EDT

Reason Foundation Policy Analyst Harris Kenny appeared on Al Jazeera's The Stream to discuss the complexities of introducing private-public prisons into America with the highest incarceration rate as well as open immigration and drug policy. Air date: April 4, 2012.

Approximately 37 minutes.

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Journalist Sam Slovick on Occupy LA: Scenes From a New Revolution

Thu, 08 Mar 2012 09:00:00 EST

"People say, 'What do these people want?, 'Where is the list of demands?' You know, it's like an embryonic movement," says journalist and filmmaker Sam Slovick. "You can't throw a crayon into daVinci's baby crib and tell him to paint the Mona Lisa, it's not there yet?"

Slovick is the writer and director of the documentary Occupy LA: Scenes from the New Revolution, a five part series produced by Take Part and Slake. He sat down with Reason.com's managing editor, Tim Cavanaugh, to talk about the documentary, how Occupy LA became the largest occupation, and the difference in media coverage between the Occupy movement and the Tea Party.

Approximately 9:36 min.

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"Markets Not Capitalism," Says Professor Gary Chartier

Mon, 13 Feb 2012 00:00:00 EST

"The kind of economic arrangements that we see in our world today, which are dominated by cronies of those with state power, that's not the kind of economic arrangement that anyone who believes in freedom ought to favor," says Gary Chartier, Associate Dean at La Sierra School of Business and co-editor of the new book "Markets Not Capitalism: Individualist Anarchism Against Bosses, Inequality, Corporate Power, and Structural Poverty."

Chartier, who co-edited the book along with Charles W. Johnson, sat down with Reason.tv's Zach Weissmueller to discuss wy libertarians should stop embracing the word "capitalism," why there's reason to take the concerns of the political Left seriously, and why the economic system in the United States does not even begin to resemble a free market.

"If we want freedom, it's something to be achieved," says Chartier. "It's not a matter of celebrating what we have now. It's a matter of making something dramatically different and exciting happen."

Approximately 8 minutes.

Shot by Paul Detrick and Alex Manning; edited by Zach Weissmueller.

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Peter Suderman Discusses GM, Toyota, & Crony Capitalism on Freedom Watch

Mon, 23 Jan 2012 00:00:00 EST

Associate Editor Peter Suderman appeared on Freedom Watch with Judge Napolitano to challenge the government's bragging rights over how GM outpaced Toyota. Suderman believes the comparison is unfair due to subsidies and the tragic earthquake. Airdate January 15, 2012.

Aproximately 7 minutes.

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Peter Schiff at Occupy Wall Street (OWS): Uncut, Unfiltered, Unleashed!

Thu, 01 Dec 2011 10:00:00 EST

Back by popular demand, it's Peter Schiff at Occupy Wall Street. And this time, he's uncut, unfiltered, and unleashed!

Last week, Reason.tv released an 18-minute video of investment guru, radio show host, and unflappable defender of capitalism Peter Schiff as he spent three hours among the Occupy Wall Street protesters in Manhattan's Zuccotti Park. Standing next to a sign reading "I Am The 1%, Let's Talk," Schiff debated, argued, and occasionally found common ground with the Occupiers.

In response to the overwhelming demand for more Schiff at OWS, we're happy to release all the audible footage we've got - almost two hours worth. Beyond his ability to answer all questions, the most amazing thing is how Schiff wins the hearts and minds of many Occupy diehards by explaining the differences between cronyism and capitalism, the need for sound money, and why the government can't be trusted to regulate the very banks it bailed out.

About 1 hour, 45 minutes. Go to Reason.tv for downloadable versions of our videos and subscribe to Reason.tv's YouTube channel for automatic notification when new material goes live online.

Check out Schiff's Euro Pacific Capital.

Listen to his radio show online at www.schiffradio.com

Buy his latest book, How an Economy Grows and Why it Crashes.
Produced by Anthony L. Fisher. Camera by Nathan Chaffetz.

For Reason's coverage of the Occupy movement in New York, Washington, D.C., Los Angeles, and elsewhere, go here.

For a playlist of Reason.tv's always-expanding video coverage of the Occupy movement, go here.

Occupy Wall Street, Obamacare, & Bailouts - Peter Schiff on Huckabee

Mon, 31 Oct 2011 00:00:00 EDT

Peter Schiff joins European Parliament Member Daniel Hannan on Huckabee to discuss how increasing government regulation, oversight, and taxes has set back America's economy and created the Occupy Wall Street movenment. Air Date: October 28, 2011.

About 15 minutes.

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Matt Welch Discusses How the Tea Party and OWS Share Common Goals on The Alyona Show

Mon, 24 Oct 2011 00:00:00 EDT

Reason Magazine Editor in Chief Matt Welch argues that Occupy Wall Street and the Tea Party movements have more in common than their supporters think; such as anti-corporatism, disappointment with both political parties, and distrust to the status quo on RT's The Alyona Show. Air Date: October 21, 2011.

About 8 minutes.

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Anthony Randazzo Talks Ron Paul's New Budget Plan and Farm Subsidies on Freedom Watch

Wed, 19 Oct 2011 00:00:00 EDT

Reason's Director of Economic Research Anthony Randazzo appeared on Freedom Watch to discuss the the most recent form of farm welfare and Ron Paul's newest plan to restore America. Air Date: October 18, 2011.

Approximately 8 minutes.

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Damon Root Talks Occupy Wall Street on Stossel

Fri, 14 Oct 2011 00:00:00 EDT

Reason Associate Editor Damon Root discusses on Stossel how "Wall Street is crony-capitalism at its worst" and why he agrees with much of the Occupy Wall Street movement, but not all. Airdate October 13, 2011.

Approximately 8 minutes.

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What We Saw at the Occupy Wall Street Protest

Fri, 07 Oct 2011 09:17:00 EDT

Down with banks, student-loan debt, and expensive elections! Up with barter...capitalism...and...Mitt Romney?!?!

On October 4, 2011, Reason.tv visited the Occupy Wall Street protests at Liberty Square in Lower Manhattan, on Day 18 of the ongoing demonstration.

The crowd was relatively small at about 300, and included educated but unemployed workers, college students and recent graduates, homeless drifters, performance artists, 9/11 truthers, and a not-insignificant number of journalists.

The "leaderless" movement is made up of more than a dozen smaller groups, such as the "Information" group with Macbooks hooked up to generators who maintain the "OccupyWallStreet" Twitter feeds and liveblogs, a "People's Library" consisting mostly of donated leftist literature, and a well-stocked kitchen where organic vegetables are sliced for communal salads.

Student loan debt, campaign finance reform, and general anger with the sluggish economy were the more frequent grievances aired, but the demonstrators are hardly monolithic in their passions or opinions. Among the boilerplate anti-capitalist rhetoric included a lifelong Democrat professing his support for Mitt Romney, an unemployed aviation mechanic declaring his continued support of capitalism and disgust at corporate welfare, and a homeless man expressing skepticism that any of the protestors would remain in the park if just "one bad wind" rolled through the area.

Also in the crowd was Republican New York City Councilman Daniel J. Halloran, who took all questions from the assembled crowd, and even won them over after forcefully denouncing taxpayer bailouts of corporations and eminent-domain abuse.

Though the message of Occupy Wall Street is muddled and the future of the protest remains unclear, similar "Occupy" demonstrations are popping up in cities all over the United States, and the quasi-anarchist community residing in Liberty Square shows no signs of relinquishing its post.

About 6 minutes. Produced by Anthony L. Fisher, camera by Nathan Chaffetz.

Reason's Matt Welch recapped the list of demands of the self-professed "99%," which include free college education for all and a minimum wage of $20/hr.

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Matt Welch Discusses the Failed Debt Debate and the Market's Downturn on Freedom Watch

Fri, 05 Aug 2011 00:00:00 EDT

Reason Editor in Chief Matt Welch appeared on Freedom Watch to discuss how the debt agreement failed to stop market fears and stop government intervention in the economy. Air Date: August 4, 2011.

Approximately 7 minutes.

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Anthony Randazzo Discusses the Consequences of the Debate Crisis on The Alyona Show

Tue, 26 Jul 2011 00:00:00 EDT

Reason Foundation's Director of Economic Research Anthony Randazzo discusses the Federal Reserve's loans to corporations and banks, a falling U.S. dollar, and the possibility of America loosing its credit rating on RT's The Alyona Show. Airdate July 25, 2011.

Approximately 9.10 minutes.

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Rep. Jeff Flake (R-Ariz.)

Thu, 14 Jul 2011 00:00:00 EDT

Rep. Jeff Flake (R-Arizona) has represented the Diamondback State's sixth congressional district since 2001, cutting a pro-immigration, pro-trade, limited-government, anti-spending path that contrasts sharply with the mainstream of the Republican Party.

Flake's campaign against "earmarking," or larding up bills with giveaways for legislators' home districts, brought national attention to this issue and inspired some important rule changes. He has been a lonely voice in the House calling for an end to the U.S.-imposed travel ban on Cuba . And in a state that has shocked much of the country with its intolerance toward both documented and undocumented immigrants, Flake has consistently argued for reducing obstacles to legal immigration and establishing more effective guest worker programs.

Now Flake has his eye on the Senate seat being vacated next year by the retiring Republican Jon Kyl. While there's plenty of competition for his House job, Flake is so far alone in the race for Arizona's junior Senate seat.

A former head of the Goldwater Institute and practicing Mormon, Flake is a leading voice for freer markets and more personal freedom within the Republican Party.

Late in June, Flake sat down with Reason Senior Editor Tim Cavanaugh to discuss these matters and more.

Approximately 28 minutes

Shot by Zach Weissmueuller, Paul Detrick and Alex Manning. Edited by Meredith Bragg.

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Katherine Mangu-Ward Discusses the FED's Secret Lending Program with Judge Napolitano

Fri, 08 Jul 2011 00:00:00 EDT

Reason Senior Editor Katherine Mangu-Ward appeared on Freedom Watch to discuss how the Federal Reserve gave billions of dollars to Goldman Sachs, Lehman Brothers, and others. Airdate: July 7, 2011.

About 8 minutes.

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Shikha Dalmia Discusses The Aftermath of the General Motors Bailout with the Subcommitte on Regulatory Affairs

Mon, 27 Jun 2011 00:00:00 EDT

Reason Foundation's senior policy analyst Shikha Dalmia testifies at the "Lasting Implications of the General Motors Bailout," held by the Subcommittee on Regulatory Affairs, Stimulus Oversight and Government Spending. The hearing examined the aftermath of U.S. taxpayers' bailout of General Motors and sought to learn lessons about the lasting implications and unintended consequences of the federal government's intervention into business operations.

Hear Shikha Dalmia at the 20.45 minute mark.

Air Date: June 22, 2011.

Approximately 38.06 minutes

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Damon Root Discusses Government Intervention in the Housing Market and Libya on Freedom Watch

Fri, 17 Jun 2011 00:00:00 EDT

Reason Associate Editor Damon Root appeared on Freedom Watch With Judge Napolitano to discuss how government intervention in the housing market is making for a difficult recovery and whether the military intervention in Libya is unconstitutional.

Air Date: June 16, 2011.

Approximately 7.24 minutes.

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Porker of the Month for January 2011: Sens. Sherrod Brown (D-Ohio), Patrick Leahy (D-Vt.), and John Kerry (D-Mass.!

Thu, 27 Jan 2011 12:40:00 EST

Reason.tv presents Citizen's Against Government Waste’s Porkers of the Month for January 2011:

Sens. Sherrod Brown (D-Ohio), Patrick Leahy (D-Vt.), and John Kerry (D-Mass.!

After the wasteful development work on the alternate engine for the Joint Strike Fighter was in danger of losing funding, these three urged the Pentagon to release even more taxpayer funds for redundant technology no one wants.

Congratulations Senators, you are Citizen's Against Government Waste's Porkers of the Month for January, 2011!

"Porker of the Month" is written and produced by Austin Bragg. Approximately 1.5 minutes.

For more info on Citizens Against Government Waste and the Porker of The Month, visit cagw.org.

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Nick Gillespie Discusses Obamacare and Corporate Welfare with Judge Napolitano

Thu, 13 Jan 2011 00:00:00 EST

Reason.tv editor-in-chief Nick Gillespie appeared on Jude Napolitano's Freedom Watch to discuss the continual corporate exemptions to the health care reform's mandates and whether Obama's relationship with Wall Street means he's pro-market or pro-big business. Air Date: January 7, 2010.

Approximately 9 minutes.

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Veronique de Rugy Joins Parker Spitzer to Discuss Obama's Tax Cut Deal

Thu, 09 Dec 2010 00:00:00 EST

Reason monthly columnist and Mercatus Center economist Veronique de Rugy appeared on CNN's Parker Spitzer to discuss Obama's deal on tax cuts and how his presidency is continuing Bush-era policies. Airdate: December 8, 2010.

Approximately 8.23 minutes.

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Porkers of The Month for November 2010: Sens. Tom Carper and George Voinovich!

Tue, 23 Nov 2010 15:00:00 EST

Reason.tv presents Citizen's Against Government Waste’s Porkers of the Month for November 2010:

Senators Tom Carper (D-Del) and George Voinovich (R-Ohio)!

After spending gasoline tax revenue meant for infrastructure repair on pork projects, and diverting portions of the $862 billion stimulus meant for infrastructure repair to special interests, these two have proposed raising the federal gasoline tax more than 135% to pay for—you guessed it—infrastructure repair.

Congratulations Tom and George, you are Citizen's Against Government Waste's Porkers of the Month for November, 2010!

"Porker of the Month" is written and produced by Austin Bragg. Approximately 1.2 minutes.

For more info on Citizens Against Government Waste and the Porker of The Month, visit cagw.org.

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Adrian Moore Discusses GM's IPO and the Proposed Federal Sales Tax

Thu, 18 Nov 2010 00:00:00 EST

The Reason Foundation's Adrian Moore appeared on Freedom Watch to discuss the fallout from the General Motors bailout and a propoposed 6.5% value-added tax aimed at deficit reduction. Air date: November 17, 2010.

About 11 minutes.

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Porker of The Month (July 2010): Rep. Marcy Kaptur!

Thu, 22 Jul 2010 14:30:00 EDT

Reason.tv presents Citizens Against Government Waste's Porker of the Month for July 2010: Rep. Marcy Kaptur (D-OH)!

Back in March, the House Appropriations Committee banned members of Congress from awarding earmarks to for-profit companies.

Kaptur publicly praised the new ban, but privately she taught corporations (including one of her biggest campaign contributors) how to get around it, thus ensuring that their steady diet of taxpayer-supplied pork would continue.

Way to go, Rep. Kaptur!

"Porker of the Month" is written and produced by Austin Bragg. Approximately 1.2 minutes.

For more info on Citizens Against Government Waste and the Porker of The Month, go here.

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3 Reasons The New Financial Regs Won't Fix Anything

Fri, 02 Jul 2010 11:20:00 EDT

The financial reform bill currently working its way toward President Barack Obama's desk for signing is being touted as the biggest overhaul of the banking and investment sectors since the Great Depression.

But the new regs won't be any more effective than the ones they replace in fixing anything or preventing the next major panic for at least three reasons.

1. New Watchdog, Old Tricks

They create a new watchdog consumer agency designed to protect consumers from their own supposed stupidity. You'll now be facing fewer choices when it comes to getting credit cards, loans, and doing other basic financial transactions.

2. Never Too Big To Fail

They replace "Too Big to Fail" with... "Too Big to Fail." One of the reasons why major financial institutions played Russian Roulette with the economy was because they were betting they would get bailed out. Which is precisely what happened. The new rules codify the idea that the government will make sure certain institutions can never fail. And if you think the big boys won't game that system, then you don't understand how well Citigroup, Goldman Sachs, et al have come through the current meltdown.

3. Housing Bubble Trouble

The financial crisis was set into motion by government policies that encouraged people to buy homes they couldn't afford at prices that were unsustainable. Between desperate attempts to keep people in houses and to keep interest rates below an effective rate of zero, the government continues to pour more money down the same rathole.

Markets work best when the risk and reward incentives are clear cut. When investors know they really can lose it all, they act responsibly with their money. If regulators think they can create a system that cushions us from bad decisions and doesn't encourage bad behavior, it's a delusion we'll all be paying for for a very long time.

Approximately 2 minutes. Produced by Meredith Bragg and Nick Gillespie, who also hosts.

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Porker of The Month (June 2010): Sen. Richard Shelby, Who Made Pigs Fly in Outer Space!

Tue, 22 Jun 2010 10:00:00 EDT

Reason.tv presents Citizens Against Government Waste's Porker of the Month for June 2010. CAGW makes this award to a politician or special interest who takes pork-barrel spending to new heights.

This month's winner is Sen. Richard Shelby (R-Ala.)!

The Constellation Program was intended to modernize NASA and replace the aging Space Shuttle, but has been plagued by cost overruns and blown deadlines. President Obama and NASA have proposed canceling the unsustainable program—turning instead to the emerging private space industry to oversee launches.

In response, Sen. Richard Shelby (R-Ala.) co-sponsored a measure protecting Constellation, which was attached to an emergency war funding bill. Such a measure ensures millions of taxpayer dollars will continue being funneled to politically connected NASA contractors.

Contractors like Alabama's own Radiance Technologies, which—wouldn't you know it—just happens to be one of Shelby's biggest campaign contributors.

Congratulations Sen. Shelby, you are the Porker of the Month for June 2010!

For more info on Citizens Against Government Waste and the Porker of The Month, go here.

Written, produced, and narrated by Austin Bragg. Co-produced by Ted Balaker and Hawk Jensen. Approximately 1.15 minutes.

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Overdose Director Martin Borgs on the Next Financial Disaster

Tue, 08 Jun 2010 13:30:00 EDT

In his new film Overdose: The Next Financial Crisis, Swedish director Martin Borgs, using Cato scholar Johan Norberg's book Financial Fiasco as a road map, warns of the "greatest economic crisis of our age—the one that awaits us."

Borgs sat down with Reason.tv's Michael C. Moynihan before the film's Washington premiere to discuss how we got into the current mess and what Overdose prescribes to prevent future calamities.

Approx. 9 minutes.

Shot by Dan Hayes and Meredith Bragg; edited by Bragg.

Submission to EPA Video Contest Rulemaking Matters!: Subtitled For Your Protection!

Mon, 17 May 2010 19:30:00 EDT

The Environmental Protection Agency's "Rulemaking Matters!" contest invites filmmakers to submit short videos that explain how federal regulations touch our lives. The best video wins $2,500!

Presenting reason.tv's submission: "Rulemaking Matters!"

Written and produced by Meredith Bragg.

Approximately 90 seconds long.

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How The Hell Did GM Pay Back Its Bailout "in Full And Ahead of Schedule"? Well, It Didn't...

Mon, 03 May 2010 07:00:00 EDT

General Motors CEO Ed Whitacre has bragged in TV commercials and newspaper columns that GM has paid back its bailout "in full and ahead of schedule."

As with the Pontiac Aztek, an ugly exterior masks an ever darker problem: Whitacre is being fanciful to the point of deceit. GM received $50 billion in TARP funds (never mind that TARP was only supposed to cover financial institutions). About $7 billion of that came in the form of a straight-up, low-interest loan. And about $13 billion came in the form of an escrow account.

So how has GM, which lost $38 billion in 2007 even as it sold 9.4 million cars, paid back its debt? It took money from the escrow account to pay back the $6.7 billion loan.

Do you remember when you were a kid and your parents gave you $20 to buy them a Christmas present? You bought them something worth $3 and pocketed the rest? That's what GM has just done.

Oh, and do you remember when you hit your parents up for college? GM has applied for a $10 billion, low-interest loan from the government to modernize its plants so its cars will meet new federal mileage standards.

If you think all this constitutes paying back their debt in full and ahead of schedule, you might want to check out the new line of GM cars. And hope that the company's safety engineers are better at math than their CEO.

Reason.tv Exclusive Track: DJ Carl Levin's Really Sh*tty Deal!

Wed, 28 Apr 2010 00:00:00 EDT

Nobody busts a better beat than Michigan's Senior Senator, a.k.a. DJ Carl Levin, especially when he's grilling Goldman Sachs' big men like a Great Lakes perch. But be warned: This track's got more sh*t going on than Robert Byrd's underpants.

Check it out, why dontcha, and get your faith back in the Fedz. Or not.

Approx. 30 seconds

Matt Welch Discusses Bailouts on Fox Business Network

Fri, 23 Apr 2010 20:00:00 EDT

On April 22, 2010, Reason Editor in Chief Matt Welch, appeared on Fox Business' Bulls and Bears to discuss President Obama's new financial regulations and its effects on bailouts.

Approximately 4.15 minutes.

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Timothy P. Carney Analyzes "Obamanomics"

Thu, 21 Jan 2010 11:23:00 EST

In his new book Obamanomics: How Barack Obama is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses, Timothy P. Carney explains that Barack Obama's "progressive" rhetoric masks good old-fashioned crony capitalism, in which the favored few and politcally well-connected get all sorts of benefits paid for with public dollars. Whether the area is Wall Street, health care reform, union organizing, or K Street lobbying, the same pattern is everywhere: using the government's power to distribute goodies and rig markets.

A columnist at the Washington Examiner and a non-partisan reporter, Carney also lays into the Republican Party for its massive contribution to the problem when it wielded power. Carney provides a game plan to take the country back and restore truly free markets that will benefit everyone.

Reason.tv's Nick Gillespie interviewed Carney in December 2009. Shot by Dan Hayes and Meredith Bragg; edited by Bragg.

Scroll down for embed code and downloadable versions. You can watch this video at Reason.tv's YouTube Channel (subscribe now). Approximately 9 minutes.

Nick Gillespie on Fox's Freedom Watch, November 17, 2009

Fri, 11 Dec 2009 10:01:00 EST

Reason.tv's Nick Gillespie appeared on Fox News' Freedom Watch With Judge Andrew Napolitano to discuss the legality and efficacy of the federal government's bailout of General Motors.

Original airdate: November 17, 2009.

Watch this at Reason.tv's YouTube site by going here.

Bailing Out the Big Three

Tue, 17 Feb 2009 07:00:00 EST

2008 was an apocalyptic year for the American car industry, with sales of Ford, General Motors, and Chrysler cars all falling by 25 percent. Supporters of the Big Three automakers argue that the government needs to provide Detroit with at least $50 billion in taxpayer money in order to save the American car industry, on top of the billions of federally subsidized loans they've already received. President Barack Obama agrees, having attacked John McCain during last year's presidential campaign for opposing a bailout of Detroit.

But while many commenters and union advocates paint Detroit's economic troubles as a consequence of the financial crisis, necessitating its inclusion in the bailout sweepstakes, the financial troubles of the Big Three long predated the current mess. Indeed, in 2007, GM sold more cars and trucks than Toyota. Yet Toyota made almost $2,000 per vehicle while GM lost more than $1,000. So why does the United Auto Workers union and President Obama want taxpayers to reward Detroit—and punish her competitors—for making unprofitable cars?

Agricultural Subsidies

Tue, 27 Jan 2009 07:00:00 EST

"The government is bailing out the banks...but who's going to bail out the government?" asks Texas cotton farmer Ken Gallaway, a vocal critic of agricultural subsidies that cost U.S. taxpayers and consumers billions of dollars a year in direct payments and higher prices for farm goods.

Agricultural subsidies were put in place in the 1930s during the Great Depression, when 25 percent of Americans lived on farms. At the time, Secretary of Agriculture Henry Wallace called them "a temporary solution to deal with an emergency." Those programs are still in place today, even though less than 1 percent of Americans currently live on farms that are larger, more efficient, and more productive than ever before.

Consider these facts. Ninety percent of all subsidies go to just five crops: corn, rice, cotton, wheat, and soybeans. Two thirds of all farm products—including perishable fruits and vegetables—receive almost no subsidies. And just 10 percent of recipients receive 75 percent of all subsidies. A program intended to be a “temporary solution” has become one of our government’s most glaring examples of corporate welfare.

U.S. taxpayers aren’t the only ones who pay the price. Cotton subsidies, for example, encourage overproduction which lowers the world price of cotton. That’s great for people who buy cotton, but it’s disastrous for already impoverished cotton farmers in places such as West Africa.

U.S. farm programs cost taxpayers billions each year, significantly raise the price of commodities such as sugar (which is protected from competition from other producers in other countries), undermine world trade agreements, and contribute to the suffering of poor farmers around the world. It’s bad public policy, especially in these troubled economic times.

"Agricultural Subsidies: Corporate Welfare for Farmers" is hosted by Reason.tv's Nick Gillespie and is approximately 8.30 minutes long. The producer-writer is Paul Feine and the producer-editor is Roger Richards.

For an audio podcast version, go here.

For more videos in Reason.tv's award-winning Drew Carey Project series, go here.

Ethanol

Wed, 13 Aug 2008 00:00:00 EDT

Ethanol advocates claim that the biofuel is a cheap, renewable energy source that reduces pollution and our dependence on foreign oil. It sounds too good to be true—and it is.

Ethanol, especially the corn-based variety, is bad for taxpayers, bad for consumers, bad for the environment, and horrible for the world's poor. In fact, even environmentalists are critical of ethanol subsidies these days. The ethanol craze has distorted markets and increased the price of food worldwide. The only people who still support ethanol subsidies are the ethanol producers—and politicians from both sides of the aisle. Together, they make sure the subsidies keep coming.

In a recent interview about the current food crisis, Sen. Charles Grassley (R-Iowa) said, "If part of our problem is that the Chinese are going to eat meat and you've got to have corn and soybeans to feed the Chinese their meat, then why isn't it just as legitimate for the Chinese to go back and eat rice as it is for us to change our policy on corn to ethanol?"

Let them eat rice? So that American taxpayers can continue to pay people to turn corn into fuel?

Silly senator, corn is for food.

This seven-and-a-half-minute video explores the case against ethanol subsidies. Hosted by reason's Nick Gillespie and featuring Science Correspondent Ronald Bailey, it was produced by Paul Feine and PF Bentley.

For an audio podcast version, go here.

Earmarks

Tue, 29 Jul 2008 04:00:00 EDT

Taxpayers are shelling out over $17 billion for more than 11,000 Congressional earmarks in FY 2008. One such project is a $1.6 million earmark in this year’s defense spending bill. The money is going to the Search for Extra-Terrestrial Intelligence (SETI), a program that searches for evidence of life elsewhere in the universe.

That alien pork project is just one example of how elected officials use earmarks to funnel federal tax dollars back to powerful interests in their districts. While politicians and a few of their most well-connected constituents benefit from earmarks, the costs fall on individual taxpayers. Since 1991, Americans have paid over $271 billion for pork projects.

In this new Reason.tv video, Senator Tom Coburn (R-Okla) - who is known as the Senate's "Dr. No" for his aggressive opposition to earmarks - explains how taxpayers are being fleeced by Washington's insatiable appetite for pork.

What We Saw at the Mortgage Bailout Demonstration...

dan.hayes@reason.org (Dan Hayes) — Tue, 22 Apr 2008 14:35:00 EDT

On April 16 in Washington, D.C., the Ad Hoc National Network to Stop Evictions & Foreclosures organized a demonstration outside a meeting of the Mortgage Bankers Associaton at the Washington Court Hotel.

reason.tv's Dan Hayes and Michael C. Moynihan checked out the demonstration and talked with some of the activists, who quickly changed the subject from home loans to Castro's Cuban paradise, the need to free Mumia Abu Jamal, forgiving student loans, the Rothschilds (!), Haitians eating a mixture of dirt and oil (!?!?), and much, much more. Approximately six minutes.

For the full song used in the intro and outro, go here.

Myths, Lies, and Downright Stupidity - The Party!

Sat, 06 Oct 2007 14:06:00 EDT

From the archives: Check out the LA Press Club/Reason shindig for John Stossel's book, Myths, Lies, and Downright Stupidity.