Biden has proposed a new $200 tax on rifles and magazines, with a $10,000 fine for noncompliance. Registration involves filling out a thirteen-page form, with fingerprints and a photograph of yourself.
The Japanese experience offers valuable lessons for the US and Europe. A loose monetary policy can stabilize a recession for the short term, but a persistent flood of cheap money paralyzes productivity gains and growth.
The highly regulated, protectionist Japanese economy, and an overall collectivist culture, leaves little room for flexibility in executive pay. This makes Japanese businesses less competitive, and work life more miserable.