Thursday, January 07, 2010

Ticket Scalpers Are Hidden Heroes - Briggs Armstrong - Mises Institute

Ticket Scalpers Are Hidden Heroes - Briggs Armstrong - Mises Institute: "Scalpers absorb the time risk associated with events. They absorb the risk associated with scheduling issues (i.e., whether or not fans can attend). They also absorb the risk that unfavorable events could occur. Anyone who has ever bought or sold a ticket knows that ticket resale values drop dramatically after a team has a few losses on its record. If the team does well, the scalper can make a nice profit; if the team does poorly, he can suffer a huge loss."

The Curse of Good Government - William L. Anderson - Mises Institute

The Curse of Good Government - William L. Anderson - Mises Institute: "maybe, just maybe, the mechanism of action we know as government cannot be operated in a 'proper' way at all, because no intellectual device exists that permits us to properly determine just what is 'good' or 'bad' government."

New Underground Economy | Richard W. Rahn | Cato Institute: Commentary

New Underground Economy | Richard W. Rahn | Cato Institute: Commentary: "Banks, because of the 'know your customer' and other anti-money laundering regulations, make it difficult for nonestablished people, such as the young and transient, as well as legal and illegal immigrants, to open bank accounts.

Also, many of these same regulations are responsible for the rise in bank fees, which are a particular burden for low-income people. You can be sure that every time Congress passes some new law or the IRS implements some new regulation to 'get tax cheats,' much of the real burden of these compliance costs will fall on those least able to afford it, while those intent on finding their way around it will do so.

People also avoid having bank accounts because they are vulnerable to asset seizure, judgments, levies, etc. Increasingly, bankers and others who provide financial services are forced by governments to spy and snitch on their own customers, and this is a real turnoff for many people, which causes them to find other ways of maintaining financial privacy."

"Many studies have shown that when people believe the taxes they are required to pay are reasonable and the political leaders tend to spend their tax dollars wisely, tax compliance rises, and vice versa. In the United States, there is increased evidence that many tax dollars are not being spent wisely and are often used to pay off political cronies."

"When you have a secretary of the Treasury and the chairman of the House Ways and Means Committee (the tax writing committee) accused of cheating on their taxes, it greatly undermines the moral authority of the tax collectors, making the common citizens feel like chumps and, hence, much more willing to try to legally avoid or illegally evade taxes themselves."