Welcome to the first “News from the Network” for 2026. Unfortunately, that’s all that’s new. The rest — as you can see — sounds depressingly the same. What we need is immediate adoption of the Economic Democracy Act, and when that is going to happen is anyone’s guess:
Mike Repole
• Who Wants to Be an Entrepreneur? Capital ownership has become an increasingly inbred and introverted, not to say exclusive club recently (i.e., since the dawn of time). Usually, what keeps people from becoming capital owners is lack of access to the means of becoming a capital owner, which in our modern economy means access to money and credit. Now widespread capital ownership is “under attack” on the grounds that ordinary people just can’t hack being owners. As reported in an article in Fortune magazine, “Mike Repole, the billionaire entrepreneur who co-founded and sold beverage giants Glaceau and BodyArmor to Coca-Cola for a combined $9.7 billion, has an unexpected message for aspiring business owners: Don’t do it. . . . ‘I spend more time talking people out of being an entrepreneur,’ Repole said. ‘The first five years for an entrepreneur, I call the survival years. Every single day, you could go bankrupt.’” Yeah. Don’t do it because you might fail. Let’s look at this, however. According to AI in response to the question, “Why do most new businesses fail?”, the answer is, “The most common reason new businesses fail is poor cash flow management, often stemming from insufficient startup capital, poor budgeting, and misjudging expenses, which leaves them unable to cover daily operations or unexpected costs. Other major factors include a lack of market need, no proper business plan, weak marketing, and failing to adapt to changes, but running out of cash is the primary killer.” Translation: what “kills” most new businesses is lack of access to money and credit. What can solve that problem? Certainly not talking people out of trying because they might fail. Rather, adopt the Economic Democracy Act.
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| Kunal Nayyar |
• A Charitable Big Bang. The Big Bang Theory co-star Kunal Nayyar (who played “Raj Koothrappali”) has a very nice hobby: he likes to carry out “random acts of kindness.” As reported in People magazine, “Nayyar and his wife, Neha Kapur, fund college scholarships for students from disadvantaged backgrounds. ‘We also support animal charities because we love dogs,” Nayyar said. “But what I really love to do is go on GoFundMe at night and just pay random families’ medical bills. That’s my masked vigilante thing!’” This is so laudable that we hesitate even mentioning it as it might be taken as a criticism. By no means! Nayyar is doing a great thing. Our only comment is that we would suggest he do more! Not give more charitable donations, though. Just add some “acts of social justice” such as advocating the Economic Democracy Act to make his acts of individual charity both less necessary and more effective.
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| Kevin Hassett |
• It Ain’t “Wealth Creation”. According to an article in Moneywise magazine, “massive refund checks” are coming to Americans. Not “big,” but MASSIVE refund checks. As Kevin Hassett, a White House economist, says, “a tidal wave of refund money is coming — all because of the timing of Trump’s ‘One Big Beautiful Bill.’ ‘We didn't pass the Big Beautiful Bill until the middle of the summer, and so a lot of the tax changes which affect last year weren't in any tax forms that people filled out at the beginning of the year,’ he told Fox Business. This raises an interesting question. If low-income taxpayers are going to get BIG BEAUTIFUL MASSIVE REFUNDS . . . don’t they actually have had to pay “massive” taxes in the first place? We’re talking refund here, not redistribution. A “massive” refund necessarily implies a “massive” overpayment of taxes. In other words, people were overtaxed, and their money is being returned to them. Why not make the tax system more equitable overall by adopting the Economic Democracy Act?
• The Strong U.S. Economy. It seems counterintuitive (and is), but the so-called experts keep insisting the U.S. economy is strong. And it is . . . depending on who you are. If you are rich or powerful, things are great (or — if you prefer — big and beautiful). If you’re an ordinary person, however, the picture might not be so rosy. That’s why reports such as this tend to raise our hackles. As reported by the Associated Press, “The U.S. economy grew at a surprisingly strong 4.3% annual rate in the third quarter, the most rapid expansion in two years, driven by consumers who continue to spend in the face of ongoing inflation.” This is not a sustainable or even a real expansion, since all that is happening is consumers are being drained of purchasing power through inflation, not increasing production. The only true economic expansion would be to make “consumers” producers as well, and a good way to do that is to adopt the Economic Democracy Act.
• Trump’s Golden Age. President Trump promised a golden age, and he has delivered . . . depending on who you are. As reported in an article in Politico, “President Donald Trump’s economy has exceeded expectations in his first year back in office. Mainly for America’s wealthiest households, that is. The top 10 percent of U.S. earners spent $20.3 trillion through the first half of 2025 — nearly matching the $22.5 trillion shelled out by everyone else, according to the Royal Bank of Canada. That splurge has been primed by a buoyant stock market, elevated real estate prices and solid wage gains for the wealthy. Bank of America says its top account holders saw take-home pay climb 4 percent over the last year, while income growth for poorer households grew just 1.4 percent.” Is there a way to equalize or democratize this situation without redistribution? Yes: adopt the Economic Democracy Act.
• Fun With Money. Yes, having money can be fun. Of course, getting money in the first place might be a little difficult, but what the hey? Anyway, as reported in an article in Moneywise, “More parents are turning to digital tools to teach their children how to earn, spend, and save responsibly. From managing chores to tracking spending in real-time, new apps are reshaping how families handle allowances — and financial lessons. . . . The value of these apps goes beyond convenience for parents and budgeting lessons for kids. Research consistently shows that when children learn how to manage money early, those habits grow over time — and the benefits follow them well into adulthood.” That’s nice, and it might very well be essential, but it still leaves unanswered the mega question: where does the money come in the first place? We suggest that one source might be the immediate adoption of the Economic Democracy Act.
• Get Rich Quick! It’s the standard recipe for all those lazy scuts who just can’t seem to get a handle on their finances. As declared in an article in the Associated Press, “The start of a new year usually brings new motivation to achieve goals like eating healthier or finally cleaning your basement. Many resolutions also focus on financial goals, such as paying off credit card debt, saving for a new house, or simply getting more educated about money. . . . [Erica Grundza, certified financial planner at Betterment, an investing and savings app] recommends that you focus on reestablishing the ‘why’ behind your approach to money and how you want to make it work for your life. This can be as simple as saving $10 each week in a savings account, or a bigger goal like saving to buy a house in the coming years. It’s all about your own journey.” Yes, but where are you supposed to get that $10 in the first place? What if you don’t have income or can’t cut costs? We suggest that the powers-that-be push for the adoption of the Economic Democracy Act as soon as possible.
• The Terrible Tariff Trauma Yet Again. Let’s not mince words with a long introduction about the evils of tariffs as sound tax policy and leap right into the substance of an article in Yahoo! Finance: “When 2025 began, the average US tariff rate stood near 2.5%. That same rate now stands north of 15% after just less than a year of President Trump’s second term in office. And as the calendar flips to 2026, analysts see only limited opportunities for deescalation [sic] in the year ahead.” One of Adam Smith’s principles of just taxation is that it must be fair, and tariffs are not fair. Another is that people who can pay the tax are the ones who should be taxed. Tariffs being regressive, this too is violated. Yet another is that a tax must be understandable by normal people. This is demonstrably not the case, as even Trump can’t seem to understand what a tariff is or what it does. The solution? Bag the whole tariff schtick and adopt the Economic Democracy Act.
• Another Minimum Wage Increase. It sounds like a good thing to many people, but there is a dark side to increasing wages for any reason without a corresponding increase in production. It raises costs, and that means higher prices . . . and that means demands for another round of wage increases to make up for the price increase due to the wage increase and so on. That is why, as reported in Yahoo! Finance, the so-called experts are coming across as somewhat delusional. As one such expert said, “‘The bigger picture is that raising the minimum wage is just one piece of a much larger fight for a good jobs economy rooted in living wages and good benefits for every working person. That’s where we need to get to.’” Simply raising wages does nothing good, but raising capital ownership levels can solve the underlying problem. This can be done by adopting the Economic Democracy Act.
But where do you get the cash in the first place?
• Trump Account Tax Consequences. Quite a few people are quite enthusiastic about the so-called “Trump Accounts.” We have mentioned this before on this blog, but there are a number of problems with the way they are presumably to be funded, beginning with the idea that parents or anyone else has the money to contribute to them. Then there is a little twist in the law which precludes cash gifts being used to fund the accounts coming under the $19,000 allowed non-taxable gift permitted each year. As described in an article in USA Today, “because individual contributions don’t qualify for the gift tax annual exclusion, the donor must file a gift tax return, or Form 709, for each contribution whether it’s the $25 minimum or the $5,000 maximum, experts said. That may sound like a small inconvenience, until Americans discover Form 709 isn’t generally available on do-it-yourself tax platforms like TurboTax or Jackson Hewitt and may require an accountant, said Amber Waldman, estate and gift senior director in RSM’s Washington National Tax practice. This is a ‘significant tax compliance issue,’ she said.” What to do? Well, a short-term fix would be to allow contributions to the Trump Accounts to come under the gift tax annual exclusion, but the better thing to do would be to pass the Economic Democracy Act, but also consider making gifts directly to the parents or the infant for any purpose, and let the infant or parents decide to put it in the account.
• Greater Reset “Book Trailers”. We have produced two ninety-second “Book Trailers” for distribution (by whoever wants to distribute them), essentially minute-and-a-half commercials for The Greater Reset. There are two versions of the videos, one for “general audiences” and the other for “Catholic audiences”. Take your pick.
• The Greater Reset. CESJ’s book by members of CESJ’s core group, The Greater Reset: Reclaiming Personal Sovereignty Under Natural Law is, of course, available from the publisher, TAN Books, an imprint of Saint Benedict Press, and has already gotten a top review on that website. It can also be obtained from Barnes and Noble, as well as Amazon, or by special order from your local “bricks and mortar” bookstore. The Greater Reset is the only book of which we’re aware on “the Great Reset” that presents an alternative instead of simply warning of the dangers inherent in a proposal that is contrary to natural law. It describes reality, rather than a Keynesian fantasy world. Please note that The Greater Reset is NOT a CESJ publication as such, and enquiries about quantity discounts and wholesale orders for resale must be sent to the publisher, Saint Benedict Press, NOT to CESJ.
• Economic Personalism Landing Page. A landing page for CESJ’s latest publication (now with an imprimatur), Economic Personalism: Property, Power and Justice for Every Person, has been created and can be accessed by clicking on this link. Everyone is encouraged to visit the page and send the link out to their networks.
• Economic Personalism. When you purchase a copy of Economic Personalism: Property, Power and Justice for Every Person, be sure you post a review after you’ve read it. It is available on both Amazon and Barnes and Noble at the cover price of $10 per copy. You can also download the free copy in .pdf available from the CESJ website. If you’d like to order in bulk (i.e., 52 or more copies) at the wholesale price, send an email to info@cesj.org for details. CESJ members get a $2 rebate per copy on submission of proof of purchase. Wholesale case lots of 52 copies are available at $350, plus shipping (whole case lots ONLY). Prices are in U.S. dollars.
• Sensus Fidelium Videos, Update. CESJ’s series of videos for Sensus Fidelium are doing very well, with over 155,000 total views. The latest Sensus Fidelium video is “The Five Levers of Change.” The video is part of the series on the book, Economic Personalism. The latest completed series on “the Great Reset” can be found on the “Playlist” for the series. The previous series of sixteen videos on socialism is available by clicking on the link: “Socialism, Modernism, and the New Age,” along with some book reviews and other selected topics. For “interfaith” presentations to a Catholic audience they’ve proved to be popular, edging up to 150,000 views to date. They aren’t really “Just Third Way videos,” but they do incorporate a Just Third Way perspective. You can access the playlist for the entire series. The point of the videos is to explain how socialism and socialist assumptions got such a stranglehold on the understanding of the role of the State and thus the interpretation of Catholic social teaching, and even the way non-Catholics and even non-Christians understand the roles of Church, State, and Family, and the human persons place in society.
Those are the happenings for this week, at least those that we know about. If you have an accomplishment that you think should be listed, send us a note about it at mgreaney [at] cesj [dot] org, and well see that it gets into the next “issue.” Due to imprudent and intemperate language on the part of some commentators, we removed temptation and disabled comments.
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