Your Survival Guy

Preparing your investments and family for when disaster strikes.

Compensation was paid to utilize rankings. Click here to read full disclosure.

Make America Florida

By

Secretary of State Michael R. Pompeo meets with Florida Governor Ron DeSantis, in Miami, Florida on January 23, 2020. [State Department Photo by Ron Przysucha/ Public Domain]

Your Survival Guy can get behind Gov. Ron DeSantis’s pushback against ESG investing in Florida. The Wall Street Journal reports that DeSantis’s reforms mean that “State and local investment decisions must focus on maximizing returns, not factors related to Environmental, Social and Governance (ESG) criteria.” The Journal’s editors explain some of DeSantis’s other legislative achievements in Florida, writing:

Life Comes at You Fast. Slow It Down with My Friday Email. It’s Free.

• Taxes and spending: Florida has no income tax, but it does have a 6% sales tax, and there are new exemptions for such “family-focused” items as “diapers, wipes, children’s clothing, cribs, and strollers.” The state’s latest $117 billion budget is up about 6%, which is far from tight-fisted, and Mr. DeSantis’s office is boasting about $1 billion for Everglades restoration and water protection. But the state fisc is sound because revenue is flush from rapid economic growth.

• Education: School choice will become universal, as the Legislature eliminated income and enrollment caps. Each family is eligible for about $8,700, with priority going to households at or below 185% of the poverty line. Meantime, the state is spending more on pay for public-school teachers, this time a bump of $252 million.

The Legislature also passed a constitutional amendment, which voters could approve in 2024, to change school boards into partisan bodies, so elections would have ballot lines for Republicans and Democrats.

• Crime: The death penalty no longer requires unanimity. Eight jurors out of 12 can recommend it, provided that every juror agrees the crime involved at least one aggravating factor. The Legislature has directed the state Supreme Court to create a uniform statewide bond schedule for bail releases. If new information comes to light after an accused criminal is let go, any party may move to reconsider pretrial detention.

• Public unions: Dues may no longer be automatically deducted from the paychecks of many government workers, but must be paid directly by each member. This gives workers discretion and puts the onus on unions to persuade members. If the share of dues payers falls below 60%, the union could face a new election, and stronger union audits and financial disclosures are required.

• Immigration: The Legislature’s response to President Biden’s border failure was to impose new burdens on Florida employers. Businesses with more than 25 workers must now use E-Verify to check employment eligibility, or else they can be fined $1,000 a day. E-Verify is far from reliable, and the law could have a negative impact on the state’s economy, especially in construction, agriculture, hotels and restaurants. Florida will also refuse to recognize out-of-state driver’s licenses issued to illegal immigrants.

• Abortion: The Heartbeat Protection Act bans abortions at six weeks, with exceptions up to 15 weeks if there is a police report or other documentation to substantiate rape, incest or human trafficking. This is a political gamble that is sure to be attacked by Democrats if Mr. DeSantis gets the GOP nomination.

• Tort reform: If a plaintiff is found to be more than 50% responsible for his own injuries, he no longer is able to recover damages. Other invitations to legal abuse, such as “one-way attorney fees,” are eliminated. Florida is still too friendly to tort suits, but this is an improvement.

• ESG: State and local investment decisions must focus on maximizing returns, not factors related to Environmental, Social and Governance (ESG) criteria.

• Disney: The former Reedy Creek Improvement District around Disney World, which had been largely self-governing, is now the Central Florida Tourism Oversight District, with board members appointed by Mr. DeSantis. The Governor says this is nothing more than denying a company special government privileges. He has a point, but his brawl with Disney has become distractingly personal.

• Guns: Floridians will no longer need a permit to carry concealed weapons.

Action Line: Why isn’t your governor making these reforms? Ask them. If they don’t give you a good answer, maybe it’s time to look for a better America. Start your search with Your Survival Guy’s 2023 Super States. Then click here to subscribe to my free monthly Survive & Thrive letter.

The following two tabs change content below.
My Twitter profileMy Facebook profileMy Instagram profile

E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.

Recent Posts from YourSurvivalGuy.com

Stop America’s Zombie Apocalypse before It Starts

Your Survival Guy has unfortunately experienced the discomfort and uncertainty of a prolonged natural gas outage. When gas service went out in much of Newport, RI, back in 2019, it took days to recover, and many people in town faced significant hardship. Your Survival Guy and Gal did just fine, but it was a real-time […]

Small Government Just Works

You have read a lot on Your Survival Guy about how states that treat residents like customers rather than like piggy banks to withdraw funds from are winning. Your Survival Guy’s 2023 Super States features a group of states that put residents ahead of politicians’ personal agendas by focusing on lower taxes, and smaller government. […]

Locking In a Generational Opportunity in Fixed Income

UPDATE 11.30.23: Have you added fixed income to your portfolio yet? After over a decade of loose monetary policy, some investors have forgotten about the benefits of fixed income in their portfolios. Some younger investors have come into adulthood having never experienced bond yields worth sinking their teeth into. Now they can. Don’t miss a […]

RIP Charlie Munger: Keeping It Simple Never Goes out of Style

You may have read that Charlie Munger, the vice chairman of Berkshire Hathaway, has passed away. Munger was a legend in the world of investing, and was known, as Jason Zweig of The Wall Street Journal explains, “for his straightforward advice to business leaders.” Zweig writes: Business and financial leaders made frequent pilgrimages to Los […]

Explosion in Gun Ownership Creates Difficulties for Progressives

Banning certain forms of gun ownership has become a centerpiece of the progressive political platform. But after radical progressive politicians fomented a crime wave beginning in the summer of 2020, many Americans, even those in left-wing constituencies, began purchasing firearms for protection. The Editorial Board of The Wall Street Journal explains: More than half of […]

It’s California vs. Florida in the Big State Debate

On Thursday, November 30, Fox News and the station’s primetime personality, Sean Hannity, will host a debate between California Governor Gavin Newsom and Florida Governor Ron DeSantis. Isabella Simonetti explains the debate in The Wall Street Journal, writing: They aren’t running against each other. Still, Ron DeSantis and Gavin Newsom will take their fiery feud to Fox News this […]

Shiffrin Brings It Home with World Cup Win at Killington

You have read about the amazing career of competitive skier, Mikaela Shiffrin. Last time she appeared on YourSurvivalGuy.com, she had notched her 87th World Cup win. It was already safe to put Shiffrin in the GOAT category of athletes near Tom Brady, Michael Jordan, and Michael Phelps. No one has ever dominated skiing the way […]

Prepare for Solar Storms in 2024

The sun experiences solar storms in a roughly eleven-year cycle, and according to scientists, that cycle could peak next year. The peak of this cycle, called the “solar maximum,” has the potential to hit the earth with solar storms that can damage satellites and even electronics on the ground. Jonathan Chadwick reports for the Daily […]

Can the Supreme Court Stop Wealth Taxes Before They Start?

You probably haven’t heard of Moore v. United States, a little-known case working its way through the courts that could have major implications for America’s savers and business owners. The case revolves around the government’s power to tax unrealized gains. These are gains on assets that an owner hasn’t locked in yet, and which could […]

Families Can’t Save Enough

American households are the least prepared they’ve been in a decade to cover an unexpected $2,000 expense. That’s a sign that inflation and slow wage growth have hurt the ability of Americans to save. Bloomberg’s Alexandre Tanzi reports: The ability of US households to cover an unexpected $2,000 expense is at the lowest level in […]

Biden’s Inflation Blame Game

First, it was the “Putin price hike,” now Biden is blaming inflation on corporate greed, an old and tired excuse. CNBC reports: President Joe Biden took aim at corporations Monday for charging prices he said were artificially high even though the rate of inflation has slowed and some shipping costs have fallen. “Any corporation that has not brought […]

Are Investors Ready to Pounce?

Investors waiting to pounce? Not buying it. They finally have rates they can sink their teeth into. They’re in no rush to take on more risk. At least, that’s not what they’re telling me. In The Wall Street Journal, Jack Pritcher suggests investors are looking for more risk. He writes: Stocks and bonds have surged […]

Disney Signals Problems with the ESG Agenda

You have read about Disney’s war against Florida Gov. Ron DeSantis and parental rights. Now, it appears that Disney is realizing the error of getting involved in America’s culture wars in order to boost its ESG rankings. Johnathan Turley writes in The Hill: In recent filings, Disney appears to acknowledge that Smith’s invisible hand is […]

Biden Gave Americans 10 Years of Inflation in Only 3

Americans have endured a decade’s worth of inflation during the three years Joe Biden has lived in the White House. Bloomberg’s Reade Pickert and Jennah Haque report on the cost-of-living squeeze Americans are suffering through today, writing: After years of inflation, US consumers are shouldering a burden unlike anything seen in decades — even as […]