Posts
Why Some People Are Poorer - Henry Hazlitt - Mises Institute: "Pockets of poverty may be the result of a failure to meet domestic or foreign competition, of a shrinkage or disappearance of demand for some product, of mines or wells that have been exhausted, of land that has become a dust bowl, and of droughts, floods, earthquakes, and other natural disasters. There is no way of preventing most of these contingencies, and no all encompassing cure for them. Each is likely to call for its own special measures of alleviation or adjustment."
"We are most likely to see the problem clearly, however, if we stop blaming 'society' in advance and seek an unemotional analysis."
"Historically, many so-called 'conservatives' have tended to blame poverty entirely on the poor: they are shiftless, or drunks or bums: 'Let them go to work.' Most so-called 'liberals,' on the other hand, have tended to blame poverty on everybody but the poor: they are at best the 'unfortunate,' the 'underprivileged,' if not actually the 'exploited,' the 'victims' of the 'maldistribution of wealth,' or of 'heartless laissez faire.' The truth, of course, is not that simple, either way."
"An 'ideal' assistance program, whether private or governmental, would
1. supply everyone in dire need, through no fault of his own, enough to maintain him in reasonable health;
2. would give nothing to anybody not in such need; and
3. would not diminish or undermine anybody's incentive to work or save or improve his skills and earning power, but would hopefully even increase such incentives.
But these three aims are extremely difficult to reconcile. The nearer we come to achieving any one of them fully, the less likely we are to achieve one of the others. Society has found no perfect solution of this problem in the past, and seems unlikely to find one in the future. The best we can look forward to, I suspect, is some never-quite-satisfactory compromise.
Fortunately, in the United States the problem of relief is now merely a residual problem, likely to be of constantly diminishing importance as, under free enterprise, we constantly increase total production. The real problem of poverty is not a problem of "distribution" but of production. The poor are poor not because something is being withheld from them, but because, for whatever reason, they are not producing enough. The only permanent way to cure their poverty is to increase their earning power."
Tuesday, December 29, 2009
Why a Jobs Summit? | Richard W. Rahn | Cato Institute: Commentary
Why a Jobs Summit? | Richard W. Rahn | Cato Institute: Commentary: "First the basics: Employers will hire more workers of any given experience and skill level when the cost of hiring them is lower rather than higher. More people are willing and able to work when their take-home pay is higher rather than lower."
"A major reason we have unemployment is that the government taxes both employers and employees, thus driving a "tax wedge" between what it costs the employer to hire someone and what the employee actually receives. The employer must pay payroll taxes, unemployment taxes, and other taxes for each worker he or she hires — thus reducing the demand for labor. The employee must pay payroll taxes and income taxes, thus reducing the supply of labor."
"These tax increases have two effects. The first is that business owners will have less money to pay their existing workers, let alone hire new ones; and second, these tax increases reduce their incentives to remain in or expand their businesses."
"Rescind the minimum wage increase that went into effect this past summer. This was equivalent to a 100 percent tax on the least experienced and least skilled workers. Employers predictably laid off many minimum-wage workers after the increase. It is both unfair and cruel not to let low-productivity workers get their first jobs where they can learn how to become high-productivity workers."
"A major reason we have unemployment is that the government taxes both employers and employees, thus driving a "tax wedge" between what it costs the employer to hire someone and what the employee actually receives. The employer must pay payroll taxes, unemployment taxes, and other taxes for each worker he or she hires — thus reducing the demand for labor. The employee must pay payroll taxes and income taxes, thus reducing the supply of labor."
"These tax increases have two effects. The first is that business owners will have less money to pay their existing workers, let alone hire new ones; and second, these tax increases reduce their incentives to remain in or expand their businesses."
"Rescind the minimum wage increase that went into effect this past summer. This was equivalent to a 100 percent tax on the least experienced and least skilled workers. Employers predictably laid off many minimum-wage workers after the increase. It is both unfair and cruel not to let low-productivity workers get their first jobs where they can learn how to become high-productivity workers."
A Costly Mistake | Malou Innocent | Cato Institute: Commentary
A Costly Mistake | Malou Innocent | Cato Institute: Commentary: "The mistake made in Vietnam — as in Afghanistan — is the erroneous assumption proffered by our political and military elite that these countries constitute a vital U.S. national security interest. Policymakers forget that al Qaeda attacked America on 9/11, and unless Pakistan makes a corresponding effort to go after the al Qaeda sanctuary on their side of the border then America's massive and tremendously costly nation-building campaign in Afghanistan is pointless."
Fed Transparency Should Precede Bernanke Confirmation | Dean Barker and Mark A. Calabria | Cato Institute: Commentary
Fed Transparency Should Precede Bernanke Confirmation | Dean Barker and Mark A. Calabria | Cato Institute: Commentary: "The Fed has directly lent more than $2 trillion to financial and non-financial institutions in the last two years. It has guaranteed trillions more. It is also fair to say that few individuals and institutions played as large a role in the economy leading up to the crisis than Ben Bernanke and the Federal Reserve.
However, at the moment Congress lacks the independent and objective analysis needed to fully assess Bernanke's performance and therefore to make an informed judgment as to whether he deserves re-appointment. For this reason, Congress should put off a vote on Bernanke's nomination until there has been a full audit of the Fed's actions preceding and during the crisis."
However, at the moment Congress lacks the independent and objective analysis needed to fully assess Bernanke's performance and therefore to make an informed judgment as to whether he deserves re-appointment. For this reason, Congress should put off a vote on Bernanke's nomination until there has been a full audit of the Fed's actions preceding and during the crisis."
Monday, December 28, 2009
Climate Scientists Subverted Peer Review | Patrick J. Michaels | Cato Institute: Commentary
Climate Scientists Subverted Peer Review | Patrick J. Michaels | Cato Institute: Commentary: "paint a picture of IPCC boffins committing science's capital crime: Trying to game the peer-reviewed literature, which is akin to editing what goes in the Bible."
So that isn't "scientific" and anything based on it must be reviewed to determine if it can stand without that support.
"The last IPCC compendium on climate science, published in 2007, left out plenty of peer-reviewed science that it found inconveniently disagreeable."
So that isn't "scientific" and anything based on it must be reviewed to determine if it can stand without that support.
"The last IPCC compendium on climate science, published in 2007, left out plenty of peer-reviewed science that it found inconveniently disagreeable."
Time to Leave | Christopher Preble | Cato Institute: Commentary
Time to Leave | Christopher Preble | Cato Institute: Commentary: "As Obama's national security adviser, Gen. James Jones, noted in October, 'The al-Qaeda presence (in Afghanistan) is very diminished. The maximum estimate is less than 100 operating in the country, no bases, no ability to launch attacks on either us or our allies.' We don't need 100,000 soldiers in Afghanistan chasing down 100 al-Qaeda fighters."
The Cold Heart of Obamacare | Nat Hentoff | Cato Institute: Commentary
The Cold Heart of Obamacare | Nat Hentoff | Cato Institute: Commentary: "In this country, bureaucrats keeping tabs on patients — without actually seeing them and their condition — will mean, as Tanner notes, that 'every time a doctor decides on a treatment, he or she would have to ask: 'Does the government think I'm doing this too much? Will I be penalized if I order this test?''"
"Clinical studies routinely exclude patients with more than one medical condition and often the elderly or people on multiple medications. Conclusions about what works and what doesn't work change much too quickly for policymakers to dictate clinical practice."
"We do not elect the president and Congress to decide how short our lives will be. That decision is way above their pay grades."
"Clinical studies routinely exclude patients with more than one medical condition and often the elderly or people on multiple medications. Conclusions about what works and what doesn't work change much too quickly for policymakers to dictate clinical practice."
"We do not elect the president and Congress to decide how short our lives will be. That decision is way above their pay grades."
Monday, December 21, 2009
Senate Health Reform Plan Prescribes Heavy Tax Dose | Michael F. Cannon | Cato Institute: Commentary
Senate Health Reform Plan Prescribes Heavy Tax Dose | Michael F. Cannon | Cato Institute: Commentary: "One levy would take $15 billion from sick patients with high out-of-pocket medical expenses, including elderly and low-income patients.
If you have a health savings account or flexible spending arrangement, there are taxes specific to those health plans, plus a third tax that would apply to all "consumer-directed" plans.
Another levy would tax medical devices, and another would tax prescription drugs. Those two taxes would increase health insurance premiums by about 1 percent, according to the nonpartisan Congressional Budget Office. There's another $60 billion tax that would drive health premiums higher still.
If your premiums climb high enough, you'll become subject to a $149 billion tax on those with high health insurance premiums. Yet many face high premiums simply because they have expensive medical needs, making this yet another tax on the sick.
The legislation would increase the Medicare tax on wages above $200,000, yet divert the revenue toward new entitlement spending.
And lest any corner of the health care sector go untaxed, the bill would even impose a 5 percent tax on cosmetic surgeries."
"Senate Democrats promise to fund half of their new entitlement with $491 billion of Medicare cuts. Yet those promised cuts are merely a tax increase waiting to happen."
"Another hidden tax comes in the form of price controls that would increase premiums for young adults in order to subsidize their parents, even though the parents typically have higher incomes. The same price controls would increase premiums for people with healthy lifestyles to subsidize those who (for example) overeat or consume alcohol to excess.
Those price controls could even tax farmers to subsidize office workers. The bill would allow populous urban areas like Omaha to make all of Nebraska one single 'rating area,' which would increase premiums in rural areas to subsidize wealthier urban areas."
"The bill's largest hidden tax, however, is a mandate that would force all Americans to purchase health insurance, whether they want it or not.
Here's why that mandate is a tax. When the government forces you to pay $10,000 to the IRS, and then gives that money to a private insurance company — as this legislation would do — we rightly call that a tax.
If instead the government forced you or your employer to pay $10,000 directly to a private insurance company — as this legislation also would do — the outcome would be the same. That makes the mandate a tax, even though that $10,000 never passes through the federal Treasury."
If you have a health savings account or flexible spending arrangement, there are taxes specific to those health plans, plus a third tax that would apply to all "consumer-directed" plans.
Another levy would tax medical devices, and another would tax prescription drugs. Those two taxes would increase health insurance premiums by about 1 percent, according to the nonpartisan Congressional Budget Office. There's another $60 billion tax that would drive health premiums higher still.
If your premiums climb high enough, you'll become subject to a $149 billion tax on those with high health insurance premiums. Yet many face high premiums simply because they have expensive medical needs, making this yet another tax on the sick.
The legislation would increase the Medicare tax on wages above $200,000, yet divert the revenue toward new entitlement spending.
And lest any corner of the health care sector go untaxed, the bill would even impose a 5 percent tax on cosmetic surgeries."
"Senate Democrats promise to fund half of their new entitlement with $491 billion of Medicare cuts. Yet those promised cuts are merely a tax increase waiting to happen."
"Another hidden tax comes in the form of price controls that would increase premiums for young adults in order to subsidize their parents, even though the parents typically have higher incomes. The same price controls would increase premiums for people with healthy lifestyles to subsidize those who (for example) overeat or consume alcohol to excess.
Those price controls could even tax farmers to subsidize office workers. The bill would allow populous urban areas like Omaha to make all of Nebraska one single 'rating area,' which would increase premiums in rural areas to subsidize wealthier urban areas."
"The bill's largest hidden tax, however, is a mandate that would force all Americans to purchase health insurance, whether they want it or not.
Here's why that mandate is a tax. When the government forces you to pay $10,000 to the IRS, and then gives that money to a private insurance company — as this legislation would do — we rightly call that a tax.
If instead the government forced you or your employer to pay $10,000 directly to a private insurance company — as this legislation also would do — the outcome would be the same. That makes the mandate a tax, even though that $10,000 never passes through the federal Treasury."
Time to Wind Down the War on Drugs | Gene Healy | Cato Institute: Commentary
Time to Wind Down the War on Drugs | Gene Healy | Cato Institute: Commentary: "At the state level, nearly 60 percent of those serving time for drugs have 'no history of violence or significant selling activity,' Webb notes.
The United States has 5 percent of the world's population, and nearly a quarter of the worlds prisoners -- more per capita than authoritarian regimes like Iran, China and Russia. We probably shouldn't take official Chinese prison stats at face value, but is there really good reason for the United States to imprison people at six times the rate Canada does?
As Webb puts it, 'Either we are home to the most evil people on Earth,' or we're doing something wrong."
"Pot is less harmful than alcohol, as shown by government-commissioned studies, including a 1999 report by the Institute for Medicine and the 1972 Shafer Commission"
"In 2001, Portugal became the first -- and so far, only -- Western democracy to decriminalize possession of small amounts of all drugs, including cocaine and heroin. The results of that experiment are now in.
In a recent study for the Cato Institute, Glenn Greenwald reports that decriminalization has 'had no adverse effect on drug usage rates in Portugal,' drug-related pathologies "have decreased dramatically," and there's little public support for recriminalization."
For those who believe in limited government, where is the Constitutional authority for the federal government to do anything. (Maybe the interstate commerce clause but that was supposed to keep states from limiting commerce between themselves.)
The United States has 5 percent of the world's population, and nearly a quarter of the worlds prisoners -- more per capita than authoritarian regimes like Iran, China and Russia. We probably shouldn't take official Chinese prison stats at face value, but is there really good reason for the United States to imprison people at six times the rate Canada does?
As Webb puts it, 'Either we are home to the most evil people on Earth,' or we're doing something wrong."
"Pot is less harmful than alcohol, as shown by government-commissioned studies, including a 1999 report by the Institute for Medicine and the 1972 Shafer Commission"
"In 2001, Portugal became the first -- and so far, only -- Western democracy to decriminalize possession of small amounts of all drugs, including cocaine and heroin. The results of that experiment are now in.
In a recent study for the Cato Institute, Glenn Greenwald reports that decriminalization has 'had no adverse effect on drug usage rates in Portugal,' drug-related pathologies "have decreased dramatically," and there's little public support for recriminalization."
For those who believe in limited government, where is the Constitutional authority for the federal government to do anything. (Maybe the interstate commerce clause but that was supposed to keep states from limiting commerce between themselves.)
Three Myths about Trash - Floy Lilley - Mises Institute
Three Myths about Trash - Floy Lilley - Mises Institute: "The EPA had noticed that the number of landfills was dropping. They failed to notice that the size of landfills was getting much bigger much faster. Total landfill capacity was actually rising. The EPA also underestimated the prospects for creating additional capacity."
"Today, 1,654 landfills in 48 states take care of 54 percent of all the solid waste in the country. One-third of them are privately owned. The largest landfill, in Las Vegas, received 3.8 million tons during 2007 at fees within the national range of $24 to $70 per ton. Landfills are no longer a threat to the environment or public health. State-of-the-art landfills, with redundant clay, plastic liners, and leachate collection systems, have now replaced all of our previously unsafe dumps."
"More and more landfills are producing pipeline-quality natural gas. Waste Management plans to turn 60 of their waste sites into energy facilities by 2012. The new plants will capture methane gas from decomposing landfill waste, generating more than 700 megawatts of electricity, enough to power 700,000 homes."
"Holding all of America's garbage for the next one hundred years would require a space only 255 feet high or deep and 10 miles on a side."
"The amount of new growth that occurs each year in forests exceeds by a factor of 20 the amount of wood and paper that is consumed by the world each year. Wherever private-property rights to forests are well-defined and enforced, forests are either stable or growing."
"Recycling is a manufacturing process, and therefore it too has environmental impact. The US Office of Technology Assessment says that it is 'usually not clear whether secondary manufacturing such as recycling produces less pollution per ton of material processed than primary manufacturing processes.'"
"Manufacturing paper, glass, and plastic from recycled materials uses appreciably more energy and water, and produces as much or more air pollution, as manufacturing from raw materials does."
"Recycling is a long-practiced, productive, indeed essential, element of the market system. Informed, voluntary recycling conserves resources and raises our wealth, enabling us to achieve valued ends that would otherwise be impossible. So yes, people do recycle even when they are not forced to do so."
"Today, 1,654 landfills in 48 states take care of 54 percent of all the solid waste in the country. One-third of them are privately owned. The largest landfill, in Las Vegas, received 3.8 million tons during 2007 at fees within the national range of $24 to $70 per ton. Landfills are no longer a threat to the environment or public health. State-of-the-art landfills, with redundant clay, plastic liners, and leachate collection systems, have now replaced all of our previously unsafe dumps."
"More and more landfills are producing pipeline-quality natural gas. Waste Management plans to turn 60 of their waste sites into energy facilities by 2012. The new plants will capture methane gas from decomposing landfill waste, generating more than 700 megawatts of electricity, enough to power 700,000 homes."
"Holding all of America's garbage for the next one hundred years would require a space only 255 feet high or deep and 10 miles on a side."
"The amount of new growth that occurs each year in forests exceeds by a factor of 20 the amount of wood and paper that is consumed by the world each year. Wherever private-property rights to forests are well-defined and enforced, forests are either stable or growing."
"Recycling is a manufacturing process, and therefore it too has environmental impact. The US Office of Technology Assessment says that it is 'usually not clear whether secondary manufacturing such as recycling produces less pollution per ton of material processed than primary manufacturing processes.'"
"Manufacturing paper, glass, and plastic from recycled materials uses appreciably more energy and water, and produces as much or more air pollution, as manufacturing from raw materials does."
"Recycling is a long-practiced, productive, indeed essential, element of the market system. Informed, voluntary recycling conserves resources and raises our wealth, enabling us to achieve valued ends that would otherwise be impossible. So yes, people do recycle even when they are not forced to do so."
Friday, December 18, 2009
Official Google Blog: Carbon offsets at Google
Official Google Blog: Carbon offsets at Google: "While carbon offsets seem simple in principle, in practice they are surprisingly complicated. In particular, it's often difficult to say whether or not the offset project results in emissions reductions that would have happened anyway."
Credit Card Has Eyebrow-Raising 79.9 Percent Interest Rate - Local News | News Articles | National News | US News - FOXNews.com
Credit Card Has Eyebrow-Raising 79.9 Percent Interest Rate - Local News | News Articles | National News | US News - FOXNews.com: "The bloated APR is how First Premier Bank, a subprime credit card issuer, is skirting new regulations intended to curb abusive practices in the industry. It's a strategy other subprime card issuers could start adopting to get around the new rules."
What? Another law with unintended consequences that doesn't do what it was supposed to do? No way!
What? Another law with unintended consequences that doesn't do what it was supposed to do? No way!
Thursday, December 17, 2009
Whatever Happened to 'First, Do No Harm'? | Michael D. Tanner | Cato Institute: Commentary
Whatever Happened to 'First, Do No Harm'? | Michael D. Tanner | Cato Institute: Commentary: "given the higher taxes, greater debt and, now, higher premiums under this bill, even 'nothing' is looking better all the time."
Predator drones hacked in Iraq operations | Security - CNET News
Predator drones hacked in Iraq operations | Security - CNET News: "Iraqi insurgents have reportedly intercepted live video feeds from the U.S. military's Predator drones using a $25.95 Windows application that allows them to track the pilotless aircraft undetected."
"This apparent security breach, which had been known in military and intelligence circles to be possible, arose because the Predator unmanned aerial vehicles do not use encryption in the final link to their operators on the ground"
Unbelievable!
"This apparent security breach, which had been known in military and intelligence circles to be possible, arose because the Predator unmanned aerial vehicles do not use encryption in the final link to their operators on the ground"
Unbelievable!
Campaign For Liberty — As Good As Gold ��| by John Browne
Campaign For Liberty — As Good As Gold ��| by John Browne: "the dollar has benefited from its reserve status, which creates demand for dollars to complete various transactions. However, the conditions that put the dollar on the world monetary throne have already changed, and it's just a matter of time before it is forced to abdicate. Just as French endured as the international diplomatic language long after France waned as a world power, so too is the dollar coasting upon its former glory. When the dollar loses its reserve status, demand for the greenback will evaporate."
"when measured in terms of gold, or real money, the S&P has lost some 20 percent over the past ten years. Over the same period, the U.S. dollar has lost over 280 percent!"
"when measured in terms of gold, or real money, the S&P has lost some 20 percent over the past ten years. Over the same period, the U.S. dollar has lost over 280 percent!"
CitizenLink: Adult Stem-Cell Foundation Works to Save Lives
CitizenLink: Adult Stem-Cell Foundation Works to Save Lives: "'Most scientists will tell you that the future is going to be adult stem cells,' he said.� 'The scientific community is sort of pushing the embryonic when the reality is they are going to use the adult in the future.� So why are we wasting time?'�
As is often the case, he says, it comes down to money.
'The reason embryonics are being pushed is because you can patent them,' he said.�
Adult stem cells are successfully treating more than 70 diseases and conditions."
As is often the case, he says, it comes down to money.
'The reason embryonics are being pushed is because you can patent them,' he said.�
Adult stem cells are successfully treating more than 70 diseases and conditions."
FOXNews.com - Liberals' Dream of Single-Payer Health System Dies
FOXNews.com - Liberals' Dream of Single-Payer Health System Dies
Is that similar to how the employment rate would get close to 10% if the stimulus package wasn't passed?
Is that similar to how the employment rate would get close to 10% if the stimulus package wasn't passed?
Wednesday, December 16, 2009
Science or Nonscience? - Clifford F. Thies - Mises Institute
Science or Nonscience? - Clifford F. Thies - Mises Institute: "There should be no pretense that the UN's Intergovernmental Panel on Climate Change is an unbiased organization. It was formed by the United Nations specifically to study 'the risk of human-induced climate change.' The guilty party is, thus, pre-identified and all that remains is to collect the evidence."
"Correlating warm and cool periods with what we know about history, warmer times have been times of human flourishing, expanding economic activity, scientific progress, and cultural expression. And cooler times have been times of starvation, disease, and the collapse of civilization. If we could control global temperature, our focus would be more on avoiding global cooling than it would be on avoiding global warming."
"The computer models that incorporate the greenhouse-gas theory are being massively contradicted by current readings. That is, CO2 is continuing to build up in the atmosphere, and yet global temperature is moderating rather than continuing to rise."
"As important as the planet is, we need a community of climatologists that is not precommitted to a theory or — worse yet — to a policy prescription. The UN agenda is obviously driven by the many despotic nations of the world that seek to use climate change to shake down the wealthy nations of the world, in concert with an intellectual elite that favors socialism over capitalism and with special-interest groups seeking massive government subsidies. The Kyoto Treaty, which imposes limits only on certain nations (the wealthier ones), could never work, since it will only shift industrial activity to nations without limits (the poorer ones), with no net reduction in carbon emissions."
"Correlating warm and cool periods with what we know about history, warmer times have been times of human flourishing, expanding economic activity, scientific progress, and cultural expression. And cooler times have been times of starvation, disease, and the collapse of civilization. If we could control global temperature, our focus would be more on avoiding global cooling than it would be on avoiding global warming."
"The computer models that incorporate the greenhouse-gas theory are being massively contradicted by current readings. That is, CO2 is continuing to build up in the atmosphere, and yet global temperature is moderating rather than continuing to rise."
"As important as the planet is, we need a community of climatologists that is not precommitted to a theory or — worse yet — to a policy prescription. The UN agenda is obviously driven by the many despotic nations of the world that seek to use climate change to shake down the wealthy nations of the world, in concert with an intellectual elite that favors socialism over capitalism and with special-interest groups seeking massive government subsidies. The Kyoto Treaty, which imposes limits only on certain nations (the wealthier ones), could never work, since it will only shift industrial activity to nations without limits (the poorer ones), with no net reduction in carbon emissions."
FOXNews.com - Not So Private Property?: Endangered Species Pose Problems for Landowners
FOXNews.com - Not So Private Property?: Endangered Species Pose Problems for Landowners: "As much as 40 percent of all land in the United States is already under some form of government control or ownership -- 800 million to 900 million acres out of America's total 2.2 billion acres."
Tuesday, December 15, 2009
CitizenLink: Marriage Penalty Hidden in Health Care Reform
CitizenLink: Marriage Penalty Hidden in Health Care Reform: "an unmarried couple each making $30,000 a year would pay $1,320 combined each year for private health insurance. If that couple chose to marry, their premium would jump to $12,000 a year, a difference of $10,680."
Unemployment and the Stimulus
December 4: "In a report done by the incoming Obama Administration, it was estimated that passage of a significant federal stimulus plan would keep unemployment numbers around 8%. Without federal relief, the report projected that unemployment would grow to over 9%.
Now, almost a year after the report was released, national unemployment sits at 10% despite the approval of a massive $787 billion stimulus bill."
Now, almost a year after the report was released, national unemployment sits at 10% despite the approval of a massive $787 billion stimulus bill."
State Superintendent Superpowers
December 11: "DPI would not only have the power to completely control a school or school district in need of improvement, it would have the power to set the criteria to determine how a district becomes 'in need of improvement.'"
Fiscal Task Force a Turkey | Chris Edwards | Cato Institute: Commentary
Fiscal Task Force a Turkey | Chris Edwards | Cato Institute: Commentary: "Spending has soared so high that 40 percent of this year's budget will be funded by borrowing."
"spending is expected to skyrocket from 21 percent of the economy in 2008 to at least 40 percent by 2050, or more if a new federal health plan is enacted."
"Under a cap, Congress could not increase total annual outlays by more than the growth in some economic variable such as personal income, perhaps averaged over five years. If it did, the administration would be required at the end of the year to determine the amount of the excess and cut programs across the board to meet the cap.
It's true that Congress could rewrite or suspend such a statutory cap if it didn't want to comply with it down the road. But a cap would be a high-profile symbol of budget restraint for taxpayers to rally around and defend. It would be easy for concerned citizens to understand a law that said that the government's budget shouldn't grow faster than the average family's budget."
"spending is expected to skyrocket from 21 percent of the economy in 2008 to at least 40 percent by 2050, or more if a new federal health plan is enacted."
"Under a cap, Congress could not increase total annual outlays by more than the growth in some economic variable such as personal income, perhaps averaged over five years. If it did, the administration would be required at the end of the year to determine the amount of the excess and cut programs across the board to meet the cap.
It's true that Congress could rewrite or suspend such a statutory cap if it didn't want to comply with it down the road. But a cap would be a high-profile symbol of budget restraint for taxpayers to rally around and defend. It would be easy for concerned citizens to understand a law that said that the government's budget shouldn't grow faster than the average family's budget."
Monday, December 14, 2009
How Minimum Wage Affects the Job Hunt � Liveshots
How Minimum Wage Affects the Job Hunt � Liveshots: "They examined sixty years of data and concluded the minimum wage actually cuts down on job opportunities and even wages, over time, for low-skilled workers."
"“It's a matter of human dignity. I mean, who amongst us wouldn't want to be treated with human dignity? And to be paid dirt wages means we're treated like dirt. And I don't think that people should be treated like dirt,” said Rep. Patrick Kennedy, D, R.I."
The miniumum wage means tells many people that they aren't even worthy of having a job!
"“It's a matter of human dignity. I mean, who amongst us wouldn't want to be treated with human dignity? And to be paid dirt wages means we're treated like dirt. And I don't think that people should be treated like dirt,” said Rep. Patrick Kennedy, D, R.I."
The miniumum wage means tells many people that they aren't even worthy of having a job!
Saturday, December 12, 2009
The Forgotten Depression of 1920 - Thomas E. Woods, Jr. - Mises Institute
The Forgotten Depression of 1920 - Thomas E. Woods, Jr. - Mises Institute: "The economic situation in 1920 was grim. By that year unemployment had jumped from 4 percent to nearly 12 percent, and GNP declined 17 percent. No wonder, then, that Secretary of Commerce Herbert Hoover — falsely characterized as a supporter of laissez-faire economics — urged President Harding to consider an array of interventions to turn the economy around. Hoover was ignored.
Instead of 'fiscal stimulus,' Harding cut the government's budget nearly in half between 1920 and 1922. The rest of Harding's approach was equally laissez-faire. Tax rates were slashed for all income groups. The national debt was reduced by one-third.
The Federal Reserve's activity, moreover, was hardly noticeable. As one economic historian puts it, 'Despite the severity of the contraction, the Fed did not move to use its powers to turn the money supply around and fight the contraction.'[2] By the late summer of 1921, signs of recovery were already visible. The following year, unemployment was back down to 6.7 percent and it was only 2.4 percent by 1923."
"In his 1920 speech accepting the Republican presidential nomination, Harding declared,
Instead of 'fiscal stimulus,' Harding cut the government's budget nearly in half between 1920 and 1922. The rest of Harding's approach was equally laissez-faire. Tax rates were slashed for all income groups. The national debt was reduced by one-third.
The Federal Reserve's activity, moreover, was hardly noticeable. As one economic historian puts it, 'Despite the severity of the contraction, the Fed did not move to use its powers to turn the money supply around and fight the contraction.'[2] By the late summer of 1921, signs of recovery were already visible. The following year, unemployment was back down to 6.7 percent and it was only 2.4 percent by 1923."
"In his 1920 speech accepting the Republican presidential nomination, Harding declared,
We will attempt intelligent and courageous deflation, and strike at government borrowing which enlarges the evil, and we will attack high cost of government with every energy and facility which attend Republican capacity. We promise that relief which will attend the halting of waste and extravagance, and the renewal of the practice of public economy, not alone because it will relieve tax burdens but because it will be an example to stimulate thrift and economy in private life."
Fourth and Long | Benjamin H. Friedman | Cato Institute: Commentary
Fourth and Long | Benjamin H. Friedman | Cato Institute: Commentary: "This process explains why the public overestimates al Qaeda's menace. In its history, it has killed about one-tenth the number of Americans that die annually from the flu. Even in the Taliban's Afghanistan, it never came close to acquiring nuclear or biological weapons. Though friendly militias have harbored al Qaeda in western Pakistan since late 2001, the group has not launched another successful attack against U.S. territory. Opinion polls suggest that the jihadist movement that spawned al Qaeda is waning -- unsurprisingly, for an unappealing ideology that considers even most Muslims legitimate targets for murder."
Wednesday, December 09, 2009
Three Cheers for Divided Government | Gene Healy | Cato Institute: Commentary
Three Cheers for Divided Government | Gene Healy | Cato Institute: Commentary: "In fact, in the past half century, voters have opted for divided government over 60 percent of the time. We Americans rest easier when the purse and sword are in different hands.
Why shouldn't we, given the horrors of one-party government? Whenever one faction controls both elected branches, checks and balances disappear."
"In 2004, two political scientists crunched the numbers, estimating that more than 20 percent of American voters ... tried to 'divide power and balance policy.'"
"Divided government tends to boost the president's approval rating.
It's no accident that the few modern presidents who left office with high popularity — Eisenhower, Reagan, and Clinton — had to battle a Congress controlled by the opposition. We tend to like the guy better when he doesn't have a free hand."
Why shouldn't we, given the horrors of one-party government? Whenever one faction controls both elected branches, checks and balances disappear."
"In 2004, two political scientists crunched the numbers, estimating that more than 20 percent of American voters ... tried to 'divide power and balance policy.'"
"Divided government tends to boost the president's approval rating.
It's no accident that the few modern presidents who left office with high popularity — Eisenhower, Reagan, and Clinton — had to battle a Congress controlled by the opposition. We tend to like the guy better when he doesn't have a free hand."
Choosing Fantasy or Facts | Richard W. Rahn | Cato Institute: Commentary
Choosing Fantasy or Facts | Richard W. Rahn | Cato Institute: Commentary: "Those on the left never stop claiming that problems will be solved if only tax rates are increased. Why then does California, with its 10.6 percent state income tax rate, have a huge budget deficit and a 12.2 percent unemployment rate, while Texas, which does not have a state income tax, enjoys a budget surplus and a below average unemployment rate of 8.2 percent?"
"Any American citizen (which includes all native-born Puerto Ricans) who resides in Puerto Rico pays income taxes to the Puerto Rican, not to the U.S., government. The maximum income tax rate in Puerto Rico is now 33 percent, just a couple of points lower than the U.S. federal rate.
But if Mr. Obama succeeds in raising the maximum federal income tax rate up to the 50 percent range (by letting the Bush tax cuts expire and increasing "surtaxes" to fund his health care and energy schemes), and if the high-tax states continue to raise their rates so the total burden on upper-income people reaches 60 percent or more, Puerto Rican residency is going to become increasingly attractive."
"Any American citizen (which includes all native-born Puerto Ricans) who resides in Puerto Rico pays income taxes to the Puerto Rican, not to the U.S., government. The maximum income tax rate in Puerto Rico is now 33 percent, just a couple of points lower than the U.S. federal rate.
But if Mr. Obama succeeds in raising the maximum federal income tax rate up to the 50 percent range (by letting the Bush tax cuts expire and increasing "surtaxes" to fund his health care and energy schemes), and if the high-tax states continue to raise their rates so the total burden on upper-income people reaches 60 percent or more, Puerto Rican residency is going to become increasingly attractive."
Has Federal Involvement Improved America's Schools? | Andrew J. Coulson | Cato Institute: Commentary
Has Federal Involvement Improved America's Schools? | Andrew J. Coulson | Cato Institute: Commentary: "we have little to show for the nearly $2 trillion dollars spent on federal education programs since 1965. As the chart demonstrates, federal education spending per pupil has nearly tripled since 1970 in real, inflation-adjusted dollars — but achievement has barely budged. In fact, the only subject in which achievement at the end of high school has changed by more than 1 percent is science, and it has gotten worse.
This overall average masks some tiny gains for minority children, such as a 3 to 5 percent rise in the scores of African American 17-year-olds. But even these modest improvements can't be attributed to federal spending. Almost all of the gain occurred between 1980 and 1988, a period during which federal spending per pupil actually fell. And the scores of African American 17-year-olds have declined in the twenty years since, even as federal spending has shot through the roof."
"A key goal of this administration is to homogenize standards and testing nationwide. Is your son or daughter really identical to every other child you've ever met? Does he or she learn math, reading, biology, and history at the same pace as every other 9, 12, or 15 year old? If not, it makes no sense to place all children on a national education conveyor belt that drags them through the curriculum at a fixed pace.
Wouldn't it be better to make schools adapt to the needs of individual kids instead of trying to forcibly fit the kids into a single bureaucratic learning schedule? Wouldn't it be better to give teachers the professional freedom to do their jobs, and then make it easier for families to pick the best schools for their children — public, private, or parochial?"
This overall average masks some tiny gains for minority children, such as a 3 to 5 percent rise in the scores of African American 17-year-olds. But even these modest improvements can't be attributed to federal spending. Almost all of the gain occurred between 1980 and 1988, a period during which federal spending per pupil actually fell. And the scores of African American 17-year-olds have declined in the twenty years since, even as federal spending has shot through the roof."
"A key goal of this administration is to homogenize standards and testing nationwide. Is your son or daughter really identical to every other child you've ever met? Does he or she learn math, reading, biology, and history at the same pace as every other 9, 12, or 15 year old? If not, it makes no sense to place all children on a national education conveyor belt that drags them through the curriculum at a fixed pace.
Wouldn't it be better to make schools adapt to the needs of individual kids instead of trying to forcibly fit the kids into a single bureaucratic learning schedule? Wouldn't it be better to give teachers the professional freedom to do their jobs, and then make it easier for families to pick the best schools for their children — public, private, or parochial?"
The $1.5 Trillion Fraud | Michael F. Cannon | Cato Institute: Commentary
The $1.5 Trillion Fraud | Michael F. Cannon | Cato Institute: Commentary: "Never mind the everyday budget gimmicks House Democrats have used, such as removing $250 billion of deficit spending to be voted on separately. Or claiming their bill would cost just $894 billion — around $400 billion less than the CBO actually projected."
"The current leadership has rigged the legislation so that 60 percent of its total cost will not be made public by the CBO in advance of the House vote."
"The current leadership has rigged the legislation so that 60 percent of its total cost will not be made public by the CBO in advance of the House vote."
The Dead Zone: The Implicit Marginal Tax Rate - Clifford F. Thies - Mises Institute
The Dead Zone: The Implicit Marginal Tax Rate - Clifford F. Thies - Mises Institute: "For many of the working poor, the implicit marginal tax rate is greater than 100 percent."
Basically, incomes under $40,000 all get the same benefit so there is no incentive for someone making $20,000 to try to earn more until they make over $40,000.
Basically, incomes under $40,000 all get the same benefit so there is no incentive for someone making $20,000 to try to earn more until they make over $40,000.
Why Would Congress Compel Young Adults to Buy Health Insurance They Don't Need? | Aaron Yelowitz | Cato Institute: Commentary
Why Would Congress Compel Young Adults to Buy Health Insurance They Don't Need? | Aaron Yelowitz | Cato Institute: Commentary: "Obama won the presidency with 66% of the vote among adults ages 18 to 29 - a larger share than any presidential candidate in decades. So it's ironic that his health plan could impose its greatest hidden taxes on young adults."
"The legislation before Congress would force young adults to purchase health insurance at prices far higher than the market would charge. The legislation would use that hidden tax to reduce premiums for their parents, who typically have higher incomes."
"Forcing young adults to purchase health insurance, and forcing them to pay actuarially unfair premiums, effectively taxes the young to subsidize the old. Never mind that median family income for households headed by someone in his 50s ($60,000) is nearly double that for households headed by someone in their 20s ($33,000).
A desire to redistribute income is the only thing that can explain a policy of forcing young adults to pay above-market premiums for health insurance. Gruber estimates that one bill before Congress would charge young adults at least 62% more than those low-cost California plans, even if they qualify for government subsidies. Young adults could end up paying hundreds or thousands of dollars more, many of them for a product they didn't want in the first place."
"The legislation before Congress would force young adults to purchase health insurance at prices far higher than the market would charge. The legislation would use that hidden tax to reduce premiums for their parents, who typically have higher incomes."
"Forcing young adults to purchase health insurance, and forcing them to pay actuarially unfair premiums, effectively taxes the young to subsidize the old. Never mind that median family income for households headed by someone in his 50s ($60,000) is nearly double that for households headed by someone in their 20s ($33,000).
A desire to redistribute income is the only thing that can explain a policy of forcing young adults to pay above-market premiums for health insurance. Gruber estimates that one bill before Congress would charge young adults at least 62% more than those low-cost California plans, even if they qualify for government subsidies. Young adults could end up paying hundreds or thousands of dollars more, many of them for a product they didn't want in the first place."
When Government Slippery Slope Goes Vertical | David Boaz | Cato Institute: Commentary
When Government Slippery Slope Goes Vertical | David Boaz | Cato Institute: Commentary: "Libertarians often warn about the slippery slope of government intervention:
Let the government run the schools, and it may end up teaching your children values that offend you. Let the government have new powers to fight terrorism, and it may use those extraordinary powers in the pursuit of ordinary crimes. Let the federal government give the states money for highways, and it may eventually use its money to impose its own rules on the states."
"Before he had even secured government control, Obama fired the chief executive officer of General Motors. He decided what the ownership structure of the companies should be. He insisted that the companies build 'clean cars' rather than cars that consumers want to buy. And as soon as a deal was concluded, members of Congress started trying to block the closing of inefficient dealerships and to require the companies to buy their palladium in Montana, use unionized trucking companies, remove mercury from scrapped cars, and so on. Politics reared its ugly head in the first moments of government control."
"On the very day that the government czar announced that he would cut the pay of companies that received taxpayer bailouts, the Federal Reserve announced that it would start regulating compensation at the thousands of banks that it regulates, as well as American subsidiaries of non-U.S. financial companies."
Let the government run the schools, and it may end up teaching your children values that offend you. Let the government have new powers to fight terrorism, and it may use those extraordinary powers in the pursuit of ordinary crimes. Let the federal government give the states money for highways, and it may eventually use its money to impose its own rules on the states."
"Before he had even secured government control, Obama fired the chief executive officer of General Motors. He decided what the ownership structure of the companies should be. He insisted that the companies build 'clean cars' rather than cars that consumers want to buy. And as soon as a deal was concluded, members of Congress started trying to block the closing of inefficient dealerships and to require the companies to buy their palladium in Montana, use unionized trucking companies, remove mercury from scrapped cars, and so on. Politics reared its ugly head in the first moments of government control."
"On the very day that the government czar announced that he would cut the pay of companies that received taxpayer bailouts, the Federal Reserve announced that it would start regulating compensation at the thousands of banks that it regulates, as well as American subsidiaries of non-U.S. financial companies."
DeLong's Stimulus Accounting: A Deconstruction - Robert P. Murphy - Mises Institute
DeLong's Stimulus Accounting: A Deconstruction - Robert P. Murphy - Mises Institute: "Jared Bernstein, chief economist and senior economic advisor to the vice president, ... said the cost per job was actually $92,000 — but acknowledged that estimate is for the whole stimulus package as of the end of 2010."
$92,000 per job!!! No wonder unemployment is so high! And that number is only what they hope -- it is probably much better.
$92,000 per job!!! No wonder unemployment is so high! And that number is only what they hope -- it is probably much better.
Unanswered Questions for Us at War | Nat Hentoff | Cato Institute: Commentary
Unanswered Questions for Us at War | Nat Hentoff | Cato Institute: Commentary: "'If we can't feel the impact of the people that we're killing and we can't see them, and none of our own people (are) at risk, does this somehow make it easier to just be in a perpetual state of war because there's no seeming cost to us?'"
Obama's Extra-Judicial Killers Subvert American Values | Nat Hentoff | Cato Institute: Commentary
Obama's Extra-Judicial Killers Subvert American Values | Nat Hentoff | Cato Institute: Commentary: "'The embrace of the Predator program has occurred with remarkably little public discussion.' That's why I'm writing this series. Mayer continued: '(yet) it represents a radically new and geographically unbounded use of state-sanctioned lethal force. And, because of the C.I.A. program's secrecy, there is no visible system of accountability in place, despite the fact that the agency has killed many civilians inside a politically fragile, nuclear-armed country with which the U.S. is not at war.'"
"As Whitlock emphasizes, there is 'fierce opposition from Afghan officials, who say it could undermine their fragile justice system and trigger a backlash against foreign troops.'
The Afghan family survivors of those inadvertently but terminally killed nonterrorist men, women and children in implementing this hit list are deeply angry at this lethal operation by foreign forces including us.
Afghanistan's deputy foreign minister for counter-narcotics operations, Gen. Mohammad Daud Daud, says that he's grateful for this NATO-U.S. help 'in destroying drug labs and stashes of opium,' but about those killings, he adds the names on the hit list are not told to Afghan officials.
Says Daud: 'They should respect our law, our constitution and our legal codes,' Daud said. 'We have a commitment to arrest these people on our own.' Note: Arrest, not kill instantly."
"As Whitlock emphasizes, there is 'fierce opposition from Afghan officials, who say it could undermine their fragile justice system and trigger a backlash against foreign troops.'
The Afghan family survivors of those inadvertently but terminally killed nonterrorist men, women and children in implementing this hit list are deeply angry at this lethal operation by foreign forces including us.
Afghanistan's deputy foreign minister for counter-narcotics operations, Gen. Mohammad Daud Daud, says that he's grateful for this NATO-U.S. help 'in destroying drug labs and stashes of opium,' but about those killings, he adds the names on the hit list are not told to Afghan officials.
Says Daud: 'They should respect our law, our constitution and our legal codes,' Daud said. 'We have a commitment to arrest these people on our own.' Note: Arrest, not kill instantly."
Tuesday, December 08, 2009
Study: At Its Worst, H1N1 Only Slightly More Serious Than Seasonal Flu - H1N1 - FOXNews.com
Study: At Its Worst, H1N1 Only Slightly More Serious Than Seasonal Flu - H1N1 - FOXNews.com: "They analyzed data from Milwaukee and New York, two U.S. cities that have kept detailed tabs on outbreaks of H1N1, to calculate a likely mortality rate of 0.048 percent.
'That is, about 1 in 2,000 people who had symptoms of pandemic H1N1 infection died,' Dr. Marc Lipsitch of Harvard University and colleagues wrote.
Probably 1.44 percent of patients with H1N1 who were sick enough to have symptoms were hospitalized, and 0.24 percent required intensive care, they added."
'That is, about 1 in 2,000 people who had symptoms of pandemic H1N1 infection died,' Dr. Marc Lipsitch of Harvard University and colleagues wrote.
Probably 1.44 percent of patients with H1N1 who were sick enough to have symptoms were hospitalized, and 0.24 percent required intensive care, they added."
Friday, December 04, 2009
How to baby-proof a disaster zone | Health Tech - CNET News
How to baby-proof a disaster zone | Health Tech - CNET News: "Smart Baby Case comes equipped with a removable door to protect the infant's lungs in the event of disaster conditions such as air pollution or chemical warfare. The safety doors even shut automatically when air pressure is too low.
Then there is the communication unit and LED screen, enabling parents and babies to affectionately exchange gazes and noises without ever having to exchange germs. The LED screen continuously monitors air quality inside the pod via an orange light.
Within the pod is an auto-rocking unit, so you can rock your baby to sleep without ever having to actually rock your baby to sleep. There is even an auto diaper around the bottom of the baby seat that is sensitive to moisture, flushing away waste through tubes to a waste storage unit at the front of the case."
Then there is the communication unit and LED screen, enabling parents and babies to affectionately exchange gazes and noises without ever having to exchange germs. The LED screen continuously monitors air quality inside the pod via an orange light.
Within the pod is an auto-rocking unit, so you can rock your baby to sleep without ever having to actually rock your baby to sleep. There is even an auto diaper around the bottom of the baby seat that is sensitive to moisture, flushing away waste through tubes to a waste storage unit at the front of the case."
Campaign For Liberty — Affirmative Action
Campaign For Liberty — Affirmative Action: "In fact, I reject the whole notion of group rights and group responsibilities - we are not a flock of geese. I believe that each individual person has been endowed by their Creator with a unique set of talents and potentials, rights and responsibilities."
"[Affirmative Action] assumes that Martin Luther King and Rodney King are cut from the same cloth; that Nancy Pelosi and Nancy Reagan are one."
"50 years of Affirmative Action is enough. If it has worked, it should no longer be necessary; if it has failed, it should no longer be desirable. In either case, it should no longer be."
"[Affirmative Action] assumes that Martin Luther King and Rodney King are cut from the same cloth; that Nancy Pelosi and Nancy Reagan are one."
"50 years of Affirmative Action is enough. If it has worked, it should no longer be necessary; if it has failed, it should no longer be desirable. In either case, it should no longer be."
Political Mailing Lists: A Message from Senator Kohl on Black Market Cigarette Smuggling
Political Mailing Lists: A Message from Senator Kohl on Black Market Cigarette Smuggling: "Cigarette smuggling is a multibillion dollar phenomenon and getting worse."
What do you expect when the sales tax is 30%?
What do you expect when the sales tax is 30%?
Political Mailing Lists: Rep. Kitty Rhoades eUpdate. November 20, 2009.
Political Mailing Lists: Rep. Kitty Rhoades eUpdate. November 20, 2009.: "The “public option” would provide very limited coverage, with premiums not to exceed $100 per month. How can it be so cheap?� Easy, the “public option” does not have to meet the laws forced on private insurance. Wisconsin law mandates that private insurance must cover certain procedures, procedures that the Basic plan does not cover. The fact is that there is no way for private insurance to ever compete against the proposed Basic plan because it would be illegal! �
For example, if a young man wanted to purchase health insurance in Wisconsin, state law requires that his policy cover mammograms.� He could not purchase a “bare-bones” plan that only provided catastrophic coverage.� His policy would have all state mandates (including mammogram coverage) that applied to an individual policy.�
However, under the new Basic plan, the state is essentially disregarding the law and offering a bare-bones policy that can not be purchased in the private insurance market. Going back to our example, if the young man purchased this new basic plan, he would not be paying for mandated mammogram coverage that he would pay for in the private insurance market.�"
For example, if a young man wanted to purchase health insurance in Wisconsin, state law requires that his policy cover mammograms.� He could not purchase a “bare-bones” plan that only provided catastrophic coverage.� His policy would have all state mandates (including mammogram coverage) that applied to an individual policy.�
However, under the new Basic plan, the state is essentially disregarding the law and offering a bare-bones policy that can not be purchased in the private insurance market. Going back to our example, if the young man purchased this new basic plan, he would not be paying for mandated mammogram coverage that he would pay for in the private insurance market.�"
This Land Is Your Land - funny extra verse
This Land Is Your Land - Wikipedia, the free encyclopedia: "As I went walking I saw a sign there
And on the sign it said 'No Trespassing.'
But on the other side it didn't say nothing,
That side was made for you and me."
And on the sign it said 'No Trespassing.'
But on the other side it didn't say nothing,
That side was made for you and me."
Thursday, December 03, 2009
Obama's Phony Federalism | Gene Healy | Cato Institute: Commentary
Obama's Phony Federalism | Gene Healy | Cato Institute: Commentary: "Just a few years back, the Republicans — nominally the party of federalism — were busily wielding federal power to enforce red state values — prosecuting medical marijuana patients, punishing doctors participating in Oregon's 'Death with Dignity' initiative, and trying to overturn Florida court decisions that allowed Terry Schiavo to be removed from life support. In that odd political climate, you often heard liberals lamenting the decline of states' rights.
That strange new respect for the 10th Amendment lasted roughly as long as the blue team's exile from power.
Education Secretary Arne Duncan said recently that 'if we accomplish one thing in the coming years, it should be to eliminate the extreme variation in standards across America.' Diversity is bad, uniformity double-plus good; get with the program, comrade.
But one of federalism's core virtues is the enormous diversity it allows. Decentralization makes it easier for Americans to escape unwelcome state experiments with fiscal and social policy.
It enhances the political power of individual citizens by allowing important decisions of governance to be settled closest to where Americans live and work. And it avoids making politics a centralized war of all against all, where each contested issue is settled in a one-size-fits-all fashion at the level furthest from the people."
That strange new respect for the 10th Amendment lasted roughly as long as the blue team's exile from power.
Education Secretary Arne Duncan said recently that 'if we accomplish one thing in the coming years, it should be to eliminate the extreme variation in standards across America.' Diversity is bad, uniformity double-plus good; get with the program, comrade.
But one of federalism's core virtues is the enormous diversity it allows. Decentralization makes it easier for Americans to escape unwelcome state experiments with fiscal and social policy.
It enhances the political power of individual citizens by allowing important decisions of governance to be settled closest to where Americans live and work. And it avoids making politics a centralized war of all against all, where each contested issue is settled in a one-size-fits-all fashion at the level furthest from the people."
The 'Stimulus' for Unemployment | Alan Reynolds | Cato Institute: Commentary
The 'Stimulus' for Unemployment | Alan Reynolds | Cato Institute: Commentary: "As Larry Summers, the president's top assistant for economic policy, noted in July, 'the unemployment rate over the recession has risen about 1 to 1.5 percentage points more than would normally be attributable to the contraction in GDP.' And the rate has moved nearly a percentage point higher since then, even though GDP increased. Countries with much deeper declines in GDP, such as Germany and Sweden, have unemployment rates far below ours.
Summers knows why the US rate is so high. He explained it well in a 1995 paper co-authored with James Poterba of MIT: 'Unemployment insurance lengthens unemployment spells.'
That is: When the government pays people 50 to 60 percent of their previous wage to stay home for a year or more, many of them do just that."
"Incidentally, the 'mercy' of longer benefits does no long-term favors: The literature is quite clear that a prolonged period on unemployment tends to depress income for years after you finally go back to work"
"Last August, Krueger and Andreus Miller of Princeton also found that 'job search increases sharply [from 20 minutes a week to 70] in the weeks prior to benefit exhaustion.'
Similarly, Meyer found 'the probability of leaving unemployment rises dramatically just prior to when benefits lapse.' In other words: If you extend benefits to 79 weeks, many people won't find an acceptable job offer until the 76th or 78th week."
"Katz also found that extended benefits, by making it easier for workers to wait and see whether they get their old jobs back, also makes it easier for employers to delay recalling laid-off workers. Just before unemployment benefits run out, Katz found 'large positive jumps in both the recall rate and new job finding rate.'"
Summers knows why the US rate is so high. He explained it well in a 1995 paper co-authored with James Poterba of MIT: 'Unemployment insurance lengthens unemployment spells.'
That is: When the government pays people 50 to 60 percent of their previous wage to stay home for a year or more, many of them do just that."
"Incidentally, the 'mercy' of longer benefits does no long-term favors: The literature is quite clear that a prolonged period on unemployment tends to depress income for years after you finally go back to work"
"Last August, Krueger and Andreus Miller of Princeton also found that 'job search increases sharply [from 20 minutes a week to 70] in the weeks prior to benefit exhaustion.'
Similarly, Meyer found 'the probability of leaving unemployment rises dramatically just prior to when benefits lapse.' In other words: If you extend benefits to 79 weeks, many people won't find an acceptable job offer until the 76th or 78th week."
"Katz also found that extended benefits, by making it easier for workers to wait and see whether they get their old jobs back, also makes it easier for employers to delay recalling laid-off workers. Just before unemployment benefits run out, Katz found 'large positive jumps in both the recall rate and new job finding rate.'"
Warning Label for Pelosicare | Michael F. Cannon | Cato Institute: Commentary
Warning Label for Pelosicare | Michael F. Cannon | Cato Institute: Commentary: "Millions who are satisfied with their current, low-cost health plans would have to switch to more expensive plans, solely because Congress decided they weren't buying enough coverage.
The legislation would increase premiums even further over time, as drug companies, chiropractors, acupuncturists, fertility specialists and other special interests lobby Congress to force you to purchase coverage for their services too."
"Medicare — by far the largest purchaser of medical services in the world — actually penalizes doctors and hospitals that reduce medical errors. The House bill would cement those deficiencies in place with yet another massive government program, and create new quality problems, like insurers skimping on care and customer service for the sickest patients."
"The bill purports to cut Medicare spending, but those cuts are not likely to happen. Want proof? At the same time House Democrats promise future spending cuts, they are gutting $210 billion of spending cuts promised by past Congresses.
And like most government health care programs, this bill's actual costs will exceed current projections. In 1967, Congress predicted that Medicare would cost $12 billion in 1990. Medicare's actual cost that year was $110 billion. Oops."
The legislation would increase premiums even further over time, as drug companies, chiropractors, acupuncturists, fertility specialists and other special interests lobby Congress to force you to purchase coverage for their services too."
"Medicare — by far the largest purchaser of medical services in the world — actually penalizes doctors and hospitals that reduce medical errors. The House bill would cement those deficiencies in place with yet another massive government program, and create new quality problems, like insurers skimping on care and customer service for the sickest patients."
"The bill purports to cut Medicare spending, but those cuts are not likely to happen. Want proof? At the same time House Democrats promise future spending cuts, they are gutting $210 billion of spending cuts promised by past Congresses.
And like most government health care programs, this bill's actual costs will exceed current projections. In 1967, Congress predicted that Medicare would cost $12 billion in 1990. Medicare's actual cost that year was $110 billion. Oops."
Copenhagen Climate Conference to Create 'Huge' Carbon Footprint - United Nations - FOXNews.com
Copenhagen Climate Conference to Create 'Huge' Carbon Footprint - United Nations - FOXNews.com: "The U.N. estimates the 12-day conference will create 40,584 tons of carbon dioxide equivalents, roughly the same amount as the carbon emissions of Morocco in 2006."
With the internet and teleconferencing, why can't this be done better?
With the internet and teleconferencing, why can't this be done better?
Official Gmail Blog: Spread some holiday cheer, one card at a time
Official Gmail Blog: Spread some holiday cheer, one card at a time: "This holiday season, as a token of our appreciation to our most enthusiastic fans, we'll snail-mail a free holiday postcard on your behalf."
Of the 6 card designs, only one is religious, and it is for Hanukkah. While they certainly have the right to do that, and it is very nice of them to provide this service, it does seem weird to not have at least one Christmas card.
Of the 6 card designs, only one is religious, and it is for Hanukkah. While they certainly have the right to do that, and it is very nice of them to provide this service, it does seem weird to not have at least one Christmas card.
Campaign For Liberty — An Answer to Bernanke | by Ron Paul
Campaign For Liberty — An Answer to Bernanke | by Ron Paul: "Today's dollar is now worth four cents compared to the dollar entrusted to the Federal Reserve in 1913.
Ninety-six years should have been plenty of time for the Fed to come up with a plan for preventing economic crises."
"The Fed has clearly failed on its mandate to maintain full employment and price stability. It's time to find out what's going on. Instead of assuming responsibility for the Fed's role in the crisis, Bernanke brags about 'arresting' the crisis. I would suggest to Mr. Bernanke that it's too early to brag.
Bernanke decries any effort to gain transparency of the Fed's actions to find out just who gets bailed out and who is left to fail. Instead, he proposes giving even more power to the Fed to regulate the entire financial system. What he does not recognize, or does not want to admit, is that he is talking about symptoms and ignoring the source of the crisis -- the Federal Reserve itself. "
Ninety-six years should have been plenty of time for the Fed to come up with a plan for preventing economic crises."
"The Fed has clearly failed on its mandate to maintain full employment and price stability. It's time to find out what's going on. Instead of assuming responsibility for the Fed's role in the crisis, Bernanke brags about 'arresting' the crisis. I would suggest to Mr. Bernanke that it's too early to brag.
Bernanke decries any effort to gain transparency of the Fed's actions to find out just who gets bailed out and who is left to fail. Instead, he proposes giving even more power to the Fed to regulate the entire financial system. What he does not recognize, or does not want to admit, is that he is talking about symptoms and ignoring the source of the crisis -- the Federal Reserve itself. "
Wednesday, December 02, 2009
A Fed Takeover by Any Other Name... | Michael D. Tanner | Cato Institute: Commentary
A Fed Takeover by Any Other Name... | Michael D. Tanner | Cato Institute: Commentary: "resident Obama has gone to great pains to deny that his proposed health-care reform is a government takeover of the health-care system.
'Nothing could be further from the truth,' he has said.
Yet it's hard to see the 1,994-page bill that the House passed last night as anything else. After all, the bill uses the command 'shall' -- as in 'you shall do this,' 'businesses shall do that' and 'government shall do some other thing' -- 3,345 times.
Not a great deal of choice or options there.
To make sure that we obey these 'shalls,' the bill would create 111 government agencies, boards, commissions and other bureaucracies -- all overseen by a new health-care czar bearing the Orwellian title 'commissioner of health choices.'"
"That means every time a doctor decides on a treatment, he or she would have to ask: 'Does the government think I'm doing this too much? Will I be penalized if I order this test?'
The government would also undertake comparative- and cost-effectiveness research and use the results to impose practice guidelines on providers."
"Given that the government has mismanaged everything from "cash for clunkers" to the swine-flu vaccine (not to mention the Iraq war and the response to Hurricane Katrina), how much of our health-care system do we really want it to control?"
'Nothing could be further from the truth,' he has said.
Yet it's hard to see the 1,994-page bill that the House passed last night as anything else. After all, the bill uses the command 'shall' -- as in 'you shall do this,' 'businesses shall do that' and 'government shall do some other thing' -- 3,345 times.
Not a great deal of choice or options there.
To make sure that we obey these 'shalls,' the bill would create 111 government agencies, boards, commissions and other bureaucracies -- all overseen by a new health-care czar bearing the Orwellian title 'commissioner of health choices.'"
"That means every time a doctor decides on a treatment, he or she would have to ask: 'Does the government think I'm doing this too much? Will I be penalized if I order this test?'
The government would also undertake comparative- and cost-effectiveness research and use the results to impose practice guidelines on providers."
"Given that the government has mismanaged everything from "cash for clunkers" to the swine-flu vaccine (not to mention the Iraq war and the response to Hurricane Katrina), how much of our health-care system do we really want it to control?"
Should We Believe the GDP? - Doug French - Mises Institute
Should We Believe the GDP? - Doug French - Mises Institute: "Murray Rothbard always made the point in his class lectures that GDP figures were suspect because government outputs are included. Of course, government doesn't produce anything that consumers will pay for willingly, thus it must take from the productive economy to provide these services. So there is at least double counting of the outputs."
Currency That Kills | Richard W. Rahn | Cato Institute: Commentary
Currency That Kills | Richard W. Rahn | Cato Institute: Commentary: "It has been well-known for decades that paper currency is a major source of disease transmission. During the life of the average dollar bill, it will be handled by hundreds, if not thousands, of people. It is hard to think of any physical object that is handled by more different people than paper currency."
Krugman's Magic Solution to Budgetary Woes - Robert P. Murphy - Mises Institute
Krugman's Magic Solution to Budgetary Woes - Robert P. Murphy - Mises Institute: "The real problem with my household finances wasn't that we were underearning or overspending. No, the real problem was that our superstitious bank decided to peg its unit of account rigidly to the dollar at 1:1."
"I informed [the managers of my local bank] — in case the boobs didn't already know — that Dr. Krugman not only teaches at Princeton, but is a Nobel (Memorial) laureate, for goodness' sake. Taking his advice, I henceforth want to devalue my checking account, so that when I write a check for 500 units, the bank only transfers $250 to the person whose goods I am purchasing."
" Immediately, my household's budget crisis is solved, for I now have double the effective reserves as I previously did. Making my mortgage payment is no longer a struggle!
But this isn't just about me. With my depreciated bank currency, I can spend more freely on local merchants, thus boosting business in my community. Before removing the absurd 1:1 dollar peg, my wife and I would have had to sharply curtail our consumption. This is no longer a concern, thanks to the magic of modern monetary analysis."
"I informed [the managers of my local bank] — in case the boobs didn't already know — that Dr. Krugman not only teaches at Princeton, but is a Nobel (Memorial) laureate, for goodness' sake. Taking his advice, I henceforth want to devalue my checking account, so that when I write a check for 500 units, the bank only transfers $250 to the person whose goods I am purchasing."
" Immediately, my household's budget crisis is solved, for I now have double the effective reserves as I previously did. Making my mortgage payment is no longer a struggle!
But this isn't just about me. With my depreciated bank currency, I can spend more freely on local merchants, thus boosting business in my community. Before removing the absurd 1:1 dollar peg, my wife and I would have had to sharply curtail our consumption. This is no longer a concern, thanks to the magic of modern monetary analysis."
If You Believe in IP, How Do You Teach Others? - Jeffrey A. Tucker - Mises Institute
If You Believe in IP, How Do You Teach Others? - Jeffrey A. Tucker - Mises Institute: "Another approach is the one taken by Harvard and, most explicitly, by the University of Texas, which has suggested that professors make the following contract with students:
My lectures are protected by state common law and federal copyright law. They are my own original expression and I record them at the same time that I deliver them in order to secure protection. Whereas you are authorized to take notes in class thereby creating a derivative work from my lecture, the authorization extends only to making one set of notes for your own personal use and no other use. You are not authorized to record my lectures, to provide your notes to anyone else or to make any commercial use of them without express prior permission from me.
You can make 'no other use' of what you learn? Really? That sort of smashes the whole point of education, doesn't it?
The goal of the university is to spread knowledge, not to grant a one-time use for what you learn in the classroom. The aim of an individual student is to gain knowledge that is used in every possible way for a lifetime — and to pass the ideas on to others.
In fact, what the contract requires is impossible. It is not as if our bodies are equipped with hard drives that can be wiped clean after the semester is over. In any case, even if we were so equipped, that would defeat the whole point of taking classes and paying universities for offering them."
My lectures are protected by state common law and federal copyright law. They are my own original expression and I record them at the same time that I deliver them in order to secure protection. Whereas you are authorized to take notes in class thereby creating a derivative work from my lecture, the authorization extends only to making one set of notes for your own personal use and no other use. You are not authorized to record my lectures, to provide your notes to anyone else or to make any commercial use of them without express prior permission from me.
You can make 'no other use' of what you learn? Really? That sort of smashes the whole point of education, doesn't it?
The goal of the university is to spread knowledge, not to grant a one-time use for what you learn in the classroom. The aim of an individual student is to gain knowledge that is used in every possible way for a lifetime — and to pass the ideas on to others.
In fact, what the contract requires is impossible. It is not as if our bodies are equipped with hard drives that can be wiped clean after the semester is over. In any case, even if we were so equipped, that would defeat the whole point of taking classes and paying universities for offering them."
Delayed Economic Reform Killed 14.5 Million Children | Swaminathan S. Anklesaria Aiyar | Cato Institute: Commentary
Delayed Economic Reform Killed 14.5 Million Children | Swaminathan S. Anklesaria Aiyar | Cato Institute: Commentary: "This shows that the delay in reforms led to an additional 14.5 million infant deaths, an additional 261 million illiterates, and an additional 109 million poor people. Indian socialism delivered a monumental tragedy, lacking both growth and social justice."
Tuesday, December 01, 2009
Congressman Ron Kind : On the Road - Blog : I Support Affordable Health Care: November 16, 2009
Congressman Ron Kind : On the Road - Blog : I Support Affordable Health Care: November 16, 2009: "The Affordable Health Care for America Act not only makes health care more stable and affordable for those who already have health insurance, but it also guarantees access to health insurance coverage for the uninsured and provides security for seniors, while responsibly reducing the federal deficit during the next ten years and beyond."
How are increasing premiums more affordable? Access to health insurance coverages really doesn't help -- we need more access to health care. I haven't seen any proof that this would reduce the deficit.
How are increasing premiums more affordable? Access to health insurance coverages really doesn't help -- we need more access to health care. I haven't seen any proof that this would reduce the deficit.
Rep. Issa Questions Plan to Pay Government Workers for Government Property - FOXNews.com
Rep. Issa Questions Plan to Pay Government Workers for Government Property - FOXNews.com: "The gift cards were offered as a way to induce those who might otherwise be possessive about the printers to give them up and use a network printer.
But Issa questioned the logic in that.
'If collecting printers will save taxpayers money, the government shouldn't have to bribe federal employees to do it,' he said."
But Issa questioned the logic in that.
'If collecting printers will save taxpayers money, the government shouldn't have to bribe federal employees to do it,' he said."
Campaign For Liberty — The Case Against Military Tribunals ��| by Andrew Napolitano
Campaign For Liberty — The Case Against Military Tribunals ��| by Andrew Napolitano: "But the rules of war apply only to those involved in a lawfully declared war, and not to something that the government merely calls a war. Only Congress can declare war -- and thus trigger the panoply of the government's military powers that come with that declaration. Among those powers is the ability to use military tribunals to try those who have caused us harm by violating the rules of war.
The last time the government used a military tribunal in this country to try foreigners who violated the rules of war involved Nazi saboteurs during World War II."
The last time the government used a military tribunal in this country to try foreigners who violated the rules of war involved Nazi saboteurs during World War II."
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