BP Doesn't Deserve a Liability Cap | Richard A. Epstein | Cato Institute: Commentary

BP Doesn't Deserve a Liability Cap | Richard A. Epstein | Cato Institute: Commentary: "Tort remedies are essential to protect people (and their property) who do not have contractual relations with defendants from harms such as air and water pollution."

"The first element in the mix is a no-nonsense liability system that fastens full responsibility on the parties who run dangerous operations, no excuses allowed. Accordingly, we have to be especially wary of statutory caps on tort damages, including the current law, under which, in the case of the oil industry, the 'total of liability ... with respect to each incident shall not exceed for an offshore facility except a deepwater port, the total of all removal costs plus $75,000,000.' That $75 million is chicken feed. Fortunately, the law removes that cap if the incident was caused by 'the gross negligence or willful misconduct' of any party, or its failure to comply with any 'applicable Federal safety, construction, or operating regulation.'"

"A tough liability system does more than provide compensation for serious harms after the fact. It also sorts out the wheat from the chaff — so that in this case companies with weak safety profiles don't get within a mile of an oil derrick. Solid insurance underwriting is likely to do a better job in pricing risk than any program of direct government oversight. Only strong players, highly incentivized and fully bonded, need apply for a permit to operate. This logic also suggests that the Price Anderson Act's $375 million cap on damages for each responsible party to cover incidents at a nuclear power facilities should be rethought."

"Its second misstep was to insist that BP pay for the lost wages of the workers on these wells that its own ill-advised ban would lay off. (BP does face, properly, potentially huge exposure to make good on the income of other workers laid off because of damage caused by the leaking oil.) But don't worry, taxpayers, for the U.S. government has complete statutory immunity from tort liability when acting in its 'discretionary' capacity."

Costs without Benefits | Richard W. Rahn | Cato Institute: Commentary

Costs without Benefits | Richard W. Rahn | Cato Institute: Commentary: "No individual can know the vast number of laws and regulations to which he is subject, and hence, the government (if it chooses) can target anyone and almost certainly be able to find some law or rule that the targeted person has violated. According to Thomas Jefferson, the U.S. Constitution only gave Congress the power to punish criminally 'treason, counterfeiting the securities and coin of the United States, piracies and felonies committed on the high seas, and offenses against the laws of nations, and no other crimes whatsoever.' Yet the federal criminal code contains thousands of pages, making it impossible for individuals to know all of the violations for which they may be sent to jail."

White House Press Challenges Pols with ... Squirt Guns? | Gene Healy | Cato Institute: Commentary

White House Press Challenges Pols with ... Squirt Guns? | Gene Healy | Cato Institute: Commentary: "conservative complaints about the supposedly monolithic 'Media' are outdated and smack of a victim mentality. Fox is the top-rated cable news channel, the Wall Street Journal has the largest circulation of any U.S. paper and Glenn Beck is the new Oprah, shooting Friedrich von Hayek's Road to Serfdom to the top of the Amazon charts last week.

We don't live in the era of three networks anymore, and it's silly to pretend that conservative voices are being shut out."

Free or Compulsory Speech - Murray N. Rothbard - Mises Daily

Free or Compulsory Speech - Murray N. Rothbard - Mises Daily: "The Fifth Amendment, as we all know, prohibits the government from forcing a person to testify against himself: 'nor shall any person … be compelled in any criminal case to be a witness against himself.' Excellent. But why should an accused criminal possess a right not also granted to admittedly innocent persons? In short, by what right does a government compel someone to testify against another?"

The Deterrence Illusion | Stanley Kober | Cato Institute: Commentary

The Deterrence Illusion | Stanley Kober | Cato Institute: Commentary: "Much is made, for example, of the North Atlantic Treaty Organisation (NATO) invoking Article V — the famous 'three musketeers' pledge that an attack on one member is to be considered as an attack on all — following the terrorist attacks of September 11.

But the United States is the most powerful member of NATO by far. Indeed, in 2001, it was widely considered to be a hegemon, a hyperpower. Other countries wanted to be in NATO because they felt an American guarantee would provide security.

And yet it was the US that was attacked.

This failure of deterrence has not received the attention it deserves. It is, after all, not unique. The North Vietnamese were not deterred by the American guarantee to South Vietnam. Similarly, Hezbollah was not deterred in Lebanon in the 1980s, and American forces were assaulted in Somalia. What has been going wrong?"

Russ Feingold: In the News - Press Releases

Russ Feingold: In the News - Press Releases: "the right to bear arms is a fundamental right enjoyed by all Americans that cannot be infringed by the federal or state governments"

More info about his position is at http://en.wikipedia.org/wiki/Russ_Feingold#Gun_issues

The Gulf Spill, the Financial Crisis and Government Failure | Gerald P. O'Driscoll Jr. | Cato Institute: Commentary

The Gulf Spill, the Financial Crisis and Government Failure | Gerald P. O'Driscoll Jr. | Cato Institute: Commentary: "Obviously, regulation failed. By all accounts, [the Minerals Management Service (MMS) of the Department of the Interior] operated as a rubber stamp for BP. It is a striking example of regulatory capture: Agencies tasked with protecting the public interest come to identify with the regulated industry and protect its interests against that of the public. The result: Government fails to protect the public. That conclusion is precisely the same for the financial services industry.

Financial services have long been subject to detailed regulation by multiple agencies. In his book on the financial crisis, Jimmy Stewart is Dead, Boston University Professor Laurence Kotlikoff counts over 115 regulatory agencies for financial services. If more hands in the pot helped, financial services would be in fine shape. Few believe such is the case."

"Government response to crises once they occur is slow and inept. All this is not because either Republicans or Democrats are in power, but because big government doesn't work. It can't deliver on its promises. Big government overpromises and underdelivers. In reaching to do more, big government accomplishes less. That is not an ideological statement, but an empirical observation."

"The complexity of rules is self-defeating, because that complexity requires more knowledge than can be acquired. Brazil has a simple rule for directors of failed banks: They are personally liable. That concentrates the mind of directors on reining in risk-taking by management more effectively than would creating a systemic-risk regulator."

Supremes Say “Yes” To Guns � John Stossel

Supremes Say “Yes” To Guns � John Stossel: "But Chicago's Mayor Daley�said that if his gun ban is struck down:

'Access to guns will destroy America faster than any other war. Take Europe. Take Japan and other countries that don't have access to guns. They don't have the amount of killings.'

They don’t. But they also have different cultures. Just look at Switzerland, where�all men are expected to keep a machine gun at home --�they have a�far lower murder rate than the United States.

Comparisons across countries aren't very helpful, because there are many reasons why crime rates differ. It's more important to look at what happens before and after bans."

Refusing to Be Counted - Vijay Boyapati - Mises Daily

Refusing to Be Counted - Vijay Boyapati - Mises Daily: "In 1943 the Census Bureau divulged data that was used to identify Japanese Americans, who were then confined in concentration camps for the remaining duration of World War II — a fact that was suppressed by the bureau for over 50 years.[8] More recently, the Census Bureau provided specially tabulated statistics to the Department of Homeland Security to help identify Arab Americans."

High Court’s Big Ruling For Gun Rights � Liveshots

High Court’s Big Ruling For Gun Rights � Liveshots: "In its second major ruling on gun rights in three years, the Supreme Court Monday extended the federally protected right to keep and bear arms to all 50 states. The decision will be hailed by gun rights advocates and comes over the opposition of gun control groups, the city of Chicago and four justices.

Justice Samuel Alito wrote for the five justice majority saying 'the right to keep and bear arms must be regarded as a substantive guarantee, not a prohibition that could be ignored so long as the States legislated in an evenhanded manner.'"

Supreme Court Super-majorities

With so many supreme court decisions being decided on a 5-4 basis, maybe such important changes shouldn't be so easy. Maybe the supreme court would have less contraversial decisions if a super-majority was required (i.e. at least 6-3). That would also reduce the impact that one president can have over the supreme court.

Senator Russ Feingold: The Control Spending Now Act

Senator Russ Feingold: The Control Spending Now Act: "For years, oil and gas companies have gotten huge taxpayer-funded giveaways in the form of subsidies to pay for their administrative costs, such as processing permits. There is no reason the taxpayers should be footing the bill for these companie"

Financial Lessons from 1946 | Jason E. Taylor | Cato Institute: Commentary

Financial Lessons from 1946 | Jason E. Taylor | Cato Institute: Commentary: "Keynesian economists of the day ([1946]) argued forcefully that if the government disbanded the army and stopped producing armaments, unemployment would rise back to Depression-era levels. Despite these protests, the government sent most soldiers home, canceled war contracts and removed wartime economic controls. Forecasts of economic Armageddon followed. In September 1945 forecasters predicted that the U.S. unemployment rate would rise to anywhere between 12% and 35%.

Despite these warnings government spending fell from $84 billion in 1945 to under $30 billion by 1946, and by 1947 the U.S. was running a budget surplus of close to 6% of GDP to pay off the debt it had accrued during the war. It was the 'Great De-stimulus' — the largest and fastest turnaround from deficit to surplus in history. And here's the kicker: Despite widespread predictions to the contrary, unemployment remained under 4.5% between 1945 and 1948.

How did this happen? Labor markets adjusted quickly and efficiently once they were finally unfettered. Most economists today acknowledge that constant intervention during the 1930s, particularly on wages, extended the length and depth of the Great Depression."

"the data show that despite the huge withdrawal of government stimulus from the economy, civilian employment grew by over 4 million between 1945 and 1947 at a time when Keynesian models forecast that it would drop like a stone.

The irony is that just three short years ago, Keynesian fiscal policy was considered an intellectual dead end. History (via a substantial body of empirical research) has shown that fiscal stimuli are a largely ineffective tonic for an ailing economy."

FOXBusiness.com - Shouting the Best Kept Secrets in D.C.

FOXBusiness.com - Shouting the Best Kept Secrets in D.C.: "$100 billion is wasted on improper payments each year. That's $100 billion of your money in 2009."

Russ Feingold: In the News - Press Releases

Russ Feingold: In the News - Press Releases: "The Reduce Unnecessary Spending Act would enable any president to single out earmarks or other non-entitlement spending in legislation that arrives on his desk for signature.� The president could then send these specific items back to Congress for expedited votes on whether to cancel or reduce funding for the provision."

"Respect and preserve Congress’ constitutional responsibilities by requiring that both the House and Senate pass a rescission request before it can become law. If either the House or Senate votes against a rescission by a simple majority, it is not enacted."

Sound like it might work well.

Authority, Responsibility and Accountability | Richard W. Rahn | Cato Institute: Commentary

Authority, Responsibility and Accountability | Richard W. Rahn | Cato Institute: Commentary: "BP stockholders are being severely punished because of the failure of BP's management to prevent this crisis — and you can bet many heads will roll at BP. Yet how many heads will roll in the U.S. government, which had the responsibility to make sure BP operated safely and that the beaches and marshes were protected? Louisiana Gov. Bobby Jindal had been asking the federal government for permission to build barrier sandbars to protect the marshes, but the Obama administration dithered for weeks in making a decision, and now the oil is in the marshes.

Those who want more government ignore the fact that the U.S. government, on a daily basis, seems unable to do the simplest tasks. For instance, how often have you had to wait in line 40 minutes to buy something at Wal-Mart or McDonald's? The answer is probably never, because you can choose to go somewhere else, and companies like Wal-Mart are acutely aware of this, so they work hard to minimize waiting times by developing elaborate statistical programs to determine how many employees they are likely to need to service the customers in a reasonably short time. They manage to do this even though they never know exactly how many customers they will have at a given time.

Now, contrast this with the Transportation Security Administration (TSA) and U.S. Customs and Border Protection (CBP). These two agencies know precisely the number of passengers who will be showing up, and when. Their task is simple compared to that of almost all retailers, but they cannot seem to manage it — because no one is held accountable for the failure to treat airline passengers in a civil manner and respect the fact that their time is valuable."

Defending the Speculator - Walter Block - Mises Daily

Defending the Speculator - Walter Block - Mises Daily: "the speculator lessens the effects of famine by storing food in times of plenty, through a motive of personal profit. He buys and stores food against the day when it might be scarce, enabling him to sell at a higher price. The consequences of his activity are far-reaching. They act as a signal to other people in the society, who are encouraged by the speculator's activity to do likewise. Consumers are encouraged to eat less and save more, importers to import more, farmers to improve their crop yields, builders to erect more storage facilities, and merchants to store more food. Thus, fulfilling the doctrine of the 'invisible hand,' the speculator, by his profit-seeking activity, causes more food to be stored during years of plenty than otherwise would have been the case, thereby lessening the effects of the lean years to come."

"Contrast this with the activity of governmental agencies when they assume the speculator's task of stabilizing the food market. They too try to steer a fine line between storing up too little food and storing up too much. But if they are in error, there is no weeding-out process. The salary of a government employee does not rise and fall with the success of his speculative ventures. Since it is not his own money that will be gained or lost, the care with which bureaucrats can be expected to attend to their speculations leaves much to be desired. There is no automatic, ongoing daily improvement in the accuracy of bureaucrats, as there is for private speculators."

"Of course, food will be costly during a famine, and the speculator will sell it for more than his original purchase price. But food will not be as costly as it would have been without his activity."

Government Codes vs. Innovation - Aaron Everitt - Mises Daily

Government Codes vs. Innovation - Aaron Everitt - Mises Daily: "Think of the recent mining accident in West Virginia, the oil rig explosion in the Gulf of Mexico, or the so-called fruit-of-kaboom bomber. The commonality in all cases is that the safety of employees and consumers was in the hands of a preestablished government agency that was supposedly ensuring safety.

When a government agency fails, does it face the threat of bankruptcy or sacrifice as a result of its failure — as would any private agency in charge of such weighty matters? Of course they don't. Instead, they are generally awarded more money and a larger scope of powers to make sure it doesn't happen again."

"Another unintended consequence of state codification of safety are the resulting disincentives to innovate. Instead of putting efforts toward the risky endeavor of product innovation, a business is forced to put its effort towards finding a way to meet or overcome the code."

"Corporations, understanding the power of a universal housing code and its governing bodies, have made an effort to get their products and brand included in the code. (Tyvek house wrap, Simpson Strong Ties, and DOW blue board are just a few of the major companies who have their product mentioned by name in the code.) Major changes occur in this code every two-to-three years that require homebuilders to revise their plans, layouts, and product selections in order to meet the code."

Italian Union Too Strong For Its Own Good? � Liveshots

Italian Union Too Strong For Its Own Good? � Liveshots: "But the strike came at a time when car maker Fiat must decide whether to make its profitable Panda city car in Poland or in Pomigliano, outside of Naples. And unions will play a key role in that decision.

Fiat has talked about investing some 700 million euros in the Pomigliano plant to re-fit it for the Panda, but wants assurances from workers to boost productivity and reliability there."

Stop the Federal Spending Spree | Tad DeHaven | Cato Institute: Commentary

Stop the Federal Spending Spree | Tad DeHaven | Cato Institute: Commentary: "Republican lack of credibility on cutting spending can be seen in the House Republican leadership's new YouCut Web site. Each week the Web site lists five possible spending cuts for citizens to vote on. The 'winning' cut proposal then goes to the House floor for a vote.

Engaging citizens in the government's spending crisis is a good idea. The problem: the cuts the Republican leadership has selected thus far are minuscule.

For instance, one item recently proposed for cutting was $1 million in mohair subsidies. In the world of federal agriculture subsidies, this cut represents chump change.

Republicans can't be considered serious about restraining the budget unless they put subsidies for wheat, corn, soybeans, rice and cotton on the chopping block."

The Tea Party and the Drug War | Jeffrey A. Miron | Cato Institute: Commentary

The Tea Party and the Drug War | Jeffrey A. Miron | Cato Institute: Commentary: "Drug prohibition, at least when imposed at the federal level, is also hard to reconcile with constitutionally limited government. The Constitution gives the federal government a few expressly enumerated powers, with all others reserved to the states (or to the people) under the Tenth Amendment. None of the enumerated powers authorizes Congress to outlaw specific products, only to regulate interstate commerce. Thus laws regulating interstate trade in drugs might pass constitutional muster, but outright bans cannot. Indeed, when the United States wanted to outlaw alcohol, it amended the Constitution itself to do so. The country has never adopted such a constitutional authorization for drug prohibition."

The Taboo Against Truth - Ralph Raico - Mises Daily

The Taboo Against Truth - Ralph Raico - Mises Daily: "There was, first of all, the policy of terror bombing of the cities of Germany, begun by the British in 1942. The Principal Assistant Secretary of the Air Ministry later boasted of the British initiative in the wholesale massacring of civilians from the air.[18] Altogether, the RAF and US Army Air Corps killed around 600,000 German civilians,[19] whose deaths were aptly characterized by the British military historian and Major-General J.F.C. Fuller as 'appalling slaughterings, which would have disgraced Attila.'[20] A recent British military historian has concluded: 'The cost of the bomber offensive in life, treasure, and moral superiority over the enemy tragically outstripped the results that it achieved.'[21]"

"Today it is fairly well-known that, when the war was over, British and American political and military leaders directed the forced repatriation of hundreds of thousands of Soviet subjects (and the surrender of some, like the Cossacks, who had never been subjects of the Soviet state). Many were executed, most were channeled into the gulag. Solzhenitsyn had bitter words for the Western leaders who handed over to Stalin the remnants of Vlasov's Russian Army of Liberation"

"The great crime that is today virtually forgotten was the expulsion starting in 1945 of the Germans from their centuries-old homelands in East Prussia, Pomerania, Silesia, Sudetenland, and elsewhere. About 16 million persons were displaced, with about 2 million of them dying in the process.[25] This is a fact, which, as the American legal scholar Alfred de Zayas dryly notes, 'has somehow escaped the attention it deserves.'[26] While those directly guilty were principally the Soviets, Poles, and Czechs (the last led by the celebrated democrat and humanist, Eduard Benes), British and American leaders early on authorized the principle of expulsion of the Germans and thus set the stage for what occurred at the war's end."

Indicting the First Amendment | Nat Hentoff | Cato Institute: Commentary

Indicting the First Amendment | Nat Hentoff | Cato Institute: Commentary: "Here is part of [Shore's] Feb. 26 messages to Bunning staffers: 'Are you'all insane. No checks equal no food for me. DO YOU GET IT?'"

"U.S. Marshals appeared at Shore's door and handed him a grand jury indictment."

"Shore 'did utilize a telecommunications device, that is a computer, whether or not communication ensued, without disclosing his identity and with the intent to annoy, abuse, threaten, and harass any person who received the communication.'"

"If found guilty, Shore — or anyone indicted for sending such so-called harassing messages — could be imprisoned for up to two years in prison and a maximum fine of $250,000."

FBI used 'dragnet' warrantless cell tracking | Privacy Inc. - CNET News

FBI used 'dragnet' warrantless cell tracking | Privacy Inc. - CNET News: "The FBI obtained a secret order -- it has not been made public -- commanding nine different telephone companies to provide federal police 'with all cell site tracking data and cell site locator information for all incoming and outgoing calls to and from the target numbers.'
But because the U.S. Justice Department did not obtain a warrant by proving to a judge that there was probable cause to suspect criminal activity, there's now a risk that the evidence from the location surveillance may be tossed out of court as illegally obtained."

Obama's Security Strategy Is Clueless | Ted Galen Carpenter | Cato Institute: Commentary

Obama's Security Strategy Is Clueless | Ted Galen Carpenter | Cato Institute: Commentary: "The principal theme in this NSS is burden sharing. The United States, the document stresses, cannot afford to be the world's sole policeman. Washington needs partners who are willing and able to meet security challenges and help preserve global peace and prosperity.

But administrations since the founding of NATO in 1949 have emphasized the need for such burden sharing — with a spectacular lack of success. And successive generations of U.S. officials have vented their impotent frustration. President Dwight Eisenhower's secretary of state, John Foster Dulles, warned the European allies in 1954 that if they didn't do more for the common defense effort against the Soviet Union, the United States would have to conduct an 'agonizing reappraisal' of its commitment to Europe. The NATO allies treated his warning as the empty threat that it was. Their security free riding on the United States barely diminished throughout the remainder of the Cold War."

FOXNews.com - Obama Appeals to Congress for $50 Billion in Emergency Aid

FOXNews.com - Obama Appeals to Congress for $50 Billion in Emergency Aid: "Congressional leaders received a letter from the president asking for almost $50 billion for distribution to state and local governments, saying that increased spending is “urgent and unavoidable,” the Post reported. The money would protect the jobs of teachers, police and firefighters.

“Because the urgency is high—many school districts, cities and states are already being forced to make these layoffs,” Obama wrote, “these provisions must be passed as quickly as possible.”

Obama’s plea comes despite last year’s $787 billion economic stimulus package, which worked to stabilize the failing economy, but did little to help the country’s high unemployment rate. At 9.7 percent, unemployment is nearly the same as it was a year ago."

He was very wrong about the effect of the stimulus and what is left of his credibility on economics?

Jobs

Campaign For Liberty: "Excluding temporary census workers, only 25,000 private sector jobs were added in May, less than 20% of the number needed just to keep pace with the growth in the workforce. The President's crack team of Keynesian number crunchers had forecasted around 500,000.

Mr. Obama somehow managed to blame businesses for the blown call, chiding them for unwarranted hiring reticence in the face of an expanding GDP. In doing so, he displayed an unnerving lack of understanding of how jobs are created and how GDP is aggregated.

Businesses do not hire workers to grow the economy, to make a President's economic recovery plan work, or to keep some magic ratio to GDP; we only hire workers to meet increased demand for our products and services. And demand is not growing, it is shrinking."

Campaign For Liberty

Campaign For Liberty: "Do you remember those dreadful scenes of oil-drenched Norwegian fiords, or the helpless birds stuck in the ooze in Kuwait, or the miles and miles of black gunk layered over the beaches of Saudi, Dubai, and UAE? That's right, you don't - because when those underwater wells blew, these foreign fleets scooped up all the oil before it ever hit shore.

As soon as the Deepwater Horizon rig exploded, the Dutch and Belgians and eleven other countries immediately offered to send their oil-sucking fleets to the Gulf, but President Obama refused to allow it. The use of these vessels is prohibited by the Jones Act, and unlike past Presidents in times of crisis, he has refused to waive it.

The Jones Act is a 1920 law that prohibits the use of foreign vessels and crews to transport cargo between U.S. ports. It can be waived by Presidential order at his discretion. It was enacted to protect union shipbuilding jobs, although like all protectionist measures, it has had just the opposite effect and we now produce less than 1% of the world's ships."

FOXNews.com - Israel's new list of goods banned from Gaza limited to weapons, materials with military use

FOXNews.com - Israel's new list of goods banned from Gaza limited to weapons, materials with military use: "The list of banned goods replaces an old list of allowed items that permitted only basic humanitarian supplies for the 1.5 million Gazans. Under the new system, the government said practically all non-military items can enter Gaza freely."

Why was the old list so restrictive?!?

FOXNews.com - Greene's South Carolina Primary Win Defies Odds, Leaves Democrats Perplexed

FOXNews.com - Greene's South Carolina Primary Win Defies Odds, Leaves Democrats Perplexed: "Greene admits he had no campaign headquarters, no party support, no contributions, no job, no computer and no cell phone.

Yet, somehow, he managed to pull off the most unlikely of victories, and -- unless state Democratic Party officials have their way -- will face incumbent Republican Sen. Jim DeMint in November."

Euthanasia Nurses Give Life-Ending Drugs, 'Assume' Patients Want to Die - Longevity | Prevention | Aging - FOXNews.com

Euthanasia Nurses Give Life-Ending Drugs, 'Assume' Patients Want to Die - Longevity | Prevention | Aging - FOXNews.com: "In interviews with 248 nurses, a fifth admitted they had taken part in a euthanasia procedure based on the “assumption” that the patient wanted to die. Almost half of the nurses confessed to “terminations without request or consent.”

When euthanasia was made legal in Belgium in 2002, the law stated two conditions — that the patient give consent and the life-ending drugs be administered by a doctor. But the study published in the Canadian Medical Association Journal found the euthanasia is commonly carried out by nurses, “operating beyond the legal margins of their profession.”"

How Civilization Deals with Torture States - David Gordon - Mises Daily

How Civilization Deals with Torture States - David Gordon - Mises Daily: "[I]t is crucial for the country to recognize that there is one crime with a legal profile so singular that it can — even standing alone — convey the wholesale contempt for the rule of law displayed by the Bush administration. That crime is the act of torture. The absolute prohibition of torture in national and international law, as [legal philosopher] Jeremy Waldron argued… 'epitomizes' the 'spirit and genius of our law,' the 'prohibition draw[s] a line between law and savagery,' it requires a 'respect for human dignity' even when 'law is at its most forceful and its subjects at their most vulnerable.' The absolute rule against torture is foundational and minimal; it is the bedrock on which the whole structure of law is erected."

"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." -- Benjamin Franklin

FOXNews.com - Marine Says He Faces Termination for Refusing to Pay Teacher's Union Fee

FOXNews.com - Marine Says He Faces Termination for Refusing to Pay Teacher's Union Fee: "An official with the Massachusetts Teachers Association said state law requires public employees -- including teachers at public schools -- to join unions as a condition of employment or to pay an agency fee."

FOXNews.com - Israeli eases Gaza blockade on some banned food items, critics say move insignificant

FOXNews.com - Israeli eases Gaza blockade on some banned food items, critics say move insignificant: "Israel only narrowly expanded the list of items that can enter by adding little more than snack foods and spices"

Why were food items banned in the first place?!?

State health insurance plan starts for low-income childless adults | Hudson Star-Observer | Hudson, Wisconsin

State health insurance plan starts for low-income childless adults | Hudson Star-Observer | Hudson, Wisconsin: "Low-income childless adults in Wisconsin have started applying for a bare-bones state government health plan they can use while waiting to get onto BadgerCare Plus."

Why is the state offering a plan that would be illegal for private insurance companies to offer?

Sidetracking the Gravy Train | Richard W. Rahn | Cato Institute: Commentary

Sidetracking the Gravy Train | Richard W. Rahn | Cato Institute: Commentary: "A recent study, using data from the Bureau of Labor Statistics, showed that average U.S. federal salaries exceed average private-sector pay in 83 percent of comparable occupations"

"over the last 70 years in the United States, maximum federal income tax rates have ranged from a low of 28 percent (1988-1990) to a high of 92 percent during and just after World War II, yet tax revenues have never exceeded 20 percent of GDP. In 1989, when the maximum individual tax rate was 28 percent, individual income tax revenue was 8.3 percent, and total revenue was 18.4 percent of GDP, both slightly above average for the period from 1970 through 2008, even though the maximum rate was 70 percent during the years 1970-1982."

The Realities Behind the Immigration Debate | Jeffrey A. Miron | Cato Institute: Commentary

The Realities Behind the Immigration Debate | Jeffrey A. Miron | Cato Institute: Commentary: "The United States has an illegal immigration problem because it restricts legal immigration. So long as large wage differences persist between the U.S. and other countries, especially Latin America, the desire to immigrate will persist and occur illegally if it is not permitted legally.

Legal migration, moreover, is good for America and rest of the world. Immigration allows people in poor countries to seek a better life here, bringing ideas and energy with them, and it shows the world that many people still regard America as the land of opportunity. Many immigrants are far poorer than the poorest Americans, so helping them makes far more sense than operating a generous welfare state."

My Week in Haiti - Robert P. Murphy - Mises Daily

My Week in Haiti - Robert P. Murphy - Mises Daily: "Apparently the tax code was based on completed houses, and so the residents of Leogane would make sure their buildings were in a perpetual state of construction, legally speaking."

"Imposing US building codes in Haiti wouldn't have saved hundreds of thousands of people; it would simply have made them homeless all these years."

"During my short visit, one of the major themes relayed to us from the Haitians who interacted with our base was that the locals viewed us with suspicion. In particular, when they would see a team of HODR volunteers engaging in literal hard labor, using sledgehammers and wheelbarrows to remove rubble from a collapsed residence, many of the Haitians apparently resented the fact that we were 'stealing their jobs.' In other words, the Haitians — where unemployment is apparently 90 percent — thought they should be getting paid to remove the rubble from their collapsed homes.

When those who were affiliated with HODR would explain to the people that we were all volunteers, some of them were still suspicious. They speculated that even if we weren't being paid right then, we would probably be paid when we returned back home.

Now here's what struck me about all this: isn't it incredible that after their neighborhoods got wiped out, and hundreds of thousands of Haitians died, that many Haitians were apparently devoting a lot of mental effort to speculating on how much we were getting paid to cart away their rubble? "

Russ Feingold: In the News - Press Releases

Russ Feingold: In the News - Press Releases: "“Ginseng is vitally important to the economic health of this region of the state. We’re pleased that USDA has been so responsive,” Obey said."

I don't think Ginseng is vitally important (One definition is: Necessary to continued existence).

Campaign For Liberty — Compassion

Campaign For Liberty — Compassion: "Compassion is giving poor parents the same school choice that rich parents have; tyranny is forcing Milwaukee kids to attend public schools where only 6% will be taught to read proficiently and painters make over $100,000."

FOXNews.com - Second Aid Ship Reportedly Headed Toward Gaza

FOXNews.com - Second Aid Ship Reportedly Headed Toward Gaza: "Israel has offered to escort the vessel and deliver the civilian aid items aboard, and it says Egypt is prepared to do the same. But Graham said he was concerned that not all of the cargo -- including medical equipment, school supplies and cement -- would be delivered. Israel maintains that cement can be used in rocket launchers, and not just for building construction.

Israeli Foreign Minister Avidgor Lieberman said Israel would not allow its Gaza blockade to be breached, meaning the ship would have to be boarded and inspected before it was allowed to pass."

It seems reasonable for Israel to just want to inspect it first and block dangerous items.

What's Wrong About Insider Trading? | Doug Bandow | Cato Institute: Commentary

What's Wrong About Insider Trading? | Doug Bandow | Cato Institute: Commentary: "The law bizarrely affects only one-half of the trading equation. People make money by not trading as well as trading. But it is virtually impossible to prove that someone chose not to buy or sell stock because of a legally improper tip. So hundreds, maybe thousands, of people get away with insider 'not trading' every year. Yet it isn't obvious that the operation of the financial markets is impaired in any way.

If there is a problem in the market about insider trading, it's that the market is biased by imposing criminal sanctions on only one side of the transaction. Inside information should lead roughly equal numbers of people to buy, sell and do nothing. The criminal law encourages people to do nothing. Whatever the impact, it isn't likely to be more efficient markets."

"The distinction between public and non-public information is legally decisive but economically unimportant. Perversely, the insider-trading laws seek to prevent people from trading on the most accurate and up-to-date information. The law seeks to force everyone to make today's decisions based on yesterday's data. It's a genuinely stupid thing to do."

"The market is suffused with this sort of unfairness. Professional investors make money because of asymmetries of information. Someone working on Wall Street is almost always going to be better versed on financial issues than a casual investor. People make careers picking up hints and suggestions to use in trading."

"Acting on new information moves the market toward the right or 'honest' price, as economist Donald J. Boudreaux puts it. Prosecuting people for insider trading slows the price-adjustment process. That means the price shock when the relevant news hits the market will be more abrupt and the losses will be greater for some people."

Gulf Oil Spill: Same Old Arguments | Peter Van Doren and Jerry Taylor | Cato Institute: Commentary

Gulf Oil Spill: Same Old Arguments | Peter Van Doren and Jerry Taylor | Cato Institute: Commentary: "First, we don't know for sure exactly how this happened or exactly who was at fault and why. Until we do, it's impossible to say exactly what public regulators could do to reduce risk.

Second, how much to spend to reduce risk is unclear. There are obviously diminishing returns on expenditures, and those expenditures will increase production costs and, thus, consumer prices. Nevertheless, producers have every incentive to spend whatever makes economic sense. BP has lost 19% of its market value in the stock market — a bit more than $36 billion — from the April 20 explosion until May 11, so BP shareholders are taking a big hit financially. Oil companies do themselves no economic favors by underinvesting in safety.

Third, the implicit political demand for zero environmental risk is unrealistic. As long as human beings are involved in drilling (or coal mining or petrochemical refining or nuclear power operations or oil transport or natural gas delivery), accidents will happen."

Hello Supply Side | Alan Reynolds | Cato Institute: Commentary

Hello Supply Side | Alan Reynolds | Cato Institute: Commentary: "Looked at from the proper perspective, we haven't really had any tax cuts to speak of — we've had tax deferrals."

Taking Judicial Matters Seriously | Roger Pilon | Cato Institute: Commentary

Taking Judicial Matters Seriously | Roger Pilon | Cato Institute: Commentary: "Justices are supposed to apply the law to cases before them — to call balls and strikes impartially, as then-Judge Roberts put it — not decide cases according to liberal, conservative or any other political values. Yet ever since liberals viciously attacked Robert Bork in 1987, that's the way we've judged nominees.

The reason is simple: In large measure, we no longer live under the Constitution. Instead, after turn-of-the-century Progressives came to power during the New Deal, the Court began reading the document not as a limit on government but as a font of endless government powers and programs.

But those programs would eventually have to be adjudicated in the courts, which meant judges would ultimately rule over vast areas of life that the Constitution had left either to the political branches or to private ordering under the common law. And since much of that adjudication would require judges to make not legal but value judgments, it would be important to know just what values they would bring to the court. Thus has politics trumped law, and a Constitution of limited government been turned on its head."

Russ Feingold: In the News - Press Releases

Russ Feingold: In the News - Press Releases: "The American people deserve to know how trillions of their tax dollars have been used.� While millions of Americans continue to look for jobs, the Fed has been doling out huge sums of money to corporations and financial institutions, some of which may have contributed to the financial crisis. Senator Sanders’ amendment will mean more transparency for the Federal Reserve, so the public will have a better idea of how it is spending taxpayer dollars. Unfortunately, the defeat of the Vitter amendment means American taxpayers will still not have a complete picture of how one of the most powerful government agencies makes policy and spends their tax dollars."

Health Bill Floods Business in Paper | Michael D. Tanner | Cato Institute: Commentary

Health Bill Floods Business in Paper | Michael D. Tanner | Cato Institute: Commentary: "Section 9006(b)(1) — come on, I know you've read it — which requires that businesses provide a 1099 form to every vendor with whom they do more than $600 worth of business over the course of a year. A 1099 is similar to a W-2 form, but for income other than wages. Businesses will also have to file a copy of the form with the IRS."

"To pay your rent, you have to issue a 1099. Buy a new set of tools, issue another one. Software, office supplies, airline tickets, gas for your truck, they all could require filing a 1099 — and entail a huge new administrative burden.

The burden falls on the other partner in the transaction too. The business providing the goods and services would have to collect 1099s from all its customers and integrate them with the rest of its tax records."

Do Capitalists Produce Nothing? - D.W. MacKenzie - Mises Daily

Do Capitalists Produce Nothing? - D.W. MacKenzie - Mises Daily: "Investors do not produce any actual physical product; they make the planning of production more rational. The efforts of 'workers who produce real goods' are wasted if production plans are defective. Matthews does not see how successful capitalists can shift production toward goods that consumers want most urgently. Profits derive from the sale of goods that garner the highest revenues from consumers over costs. Few people can predict market trends. Investors can earn or lose billions because their decisions determine whether the work of millions of ordinary people is productive or a waste of time"

The Cairo Garbage Calamity - Anders Mikkelsen - Mises Daily

The Cairo Garbage Calamity - Anders Mikkelsen - Mises Daily: "The documentary shows there was a functioning system of garbage collection that had co-evolved with the norms of Egyptian society. The government then stepped in to 'solve the problem.' It forced everyone to pay money to companies using western techniques that hadn't been adapted to the realities of Egyptian society. The companies couldn't cope with the quantity of garbage or managing Egyptian employees. The western-style companies apparently didn't recycle as intensively and couldn't provide low-cost daily garbage pickup like the garbage village system.

The garbage companies and government would also try to persuade people to change their habits to use the bin system that was convenient for companies, but less convenient than the old system. The companies were also unable to figure out how to efficiently collect the garbage that was lying around in easy-to-access piles on the side of the streets.

At the end of the film we learn that the government then killed all the pigs in garbage villages. The pigs were the key component for processing the vast quantities of organic garbage Cairo produces year round. As one would expect, this has vastly increased the amount of rotting garbage on the streets. The situation was so bad that even New York Times articles on the subject are clear that this is an example of government failure."