Posts
Feds snoop on social network accounts without warrants | Politics and Law - CNET News: "Federal police are increasingly gaining real-time access to Americans' social network accounts -- such as Facebook, Google , and Twitter -- without obtaining search warrants, newly released documents show."
"It's not clear how many of those 1,661 real-time intercepts last year -- which do require a judge's approval -- targeted social networks, and how many were aimed at e-mail providers."
"Police must merely claim their request is "relevant" to an ongoing investigation. (A search warrant, by contrast, requires probable cause, and a live wiretap order is even more privacy-protective.)"
Thursday, September 27, 2012
Wild plane passenger tackled on flight to California | Fox News
Wild plane passenger tackled on flight to California | Fox News: "Passengers say they had to tackle a passenger who was allegedly behaving aggressively and grabbing women during a flight"
How often do passengers handle bad people vs. crew or marshals? Marshals aren't on all flights and crew can't be everywhere and both are minimal.
How often do passengers handle bad people vs. crew or marshals? Marshals aren't on all flights and crew can't be everywhere and both are minimal.
Wednesday, September 26, 2012
Putting Al Qaeda in Perspective | John Mueller and Mark G. Stewart | Cato Institute: Commentary
Putting Al Qaeda in Perspective | John Mueller and Mark G. Stewart | Cato Institute: Commentary: "A standard cost-benefit analysis suggests that enhanced US domestic expenditures on homeland security since 9/11 would have to prevent one large attack per day to be cost effective."
"The chance that an American will perish at the hands of a terrorist at present rates is 1 in 3.5 million per year. And extremist Islamist terrorism worldwide has claimed 200-400 lives per year outside war zones, which although tragic and regrettable, amounts to the yearly number of bathtub drownings in the United States."
"the FBI receives more than 5,000 "threats" a day. Only a tiny number of these have led to terrorism arrests, but the FBI continues to follow up all of them, expending huge amounts of money in what some in the Bureau call "ghost chasing." "
"The chance that an American will perish at the hands of a terrorist at present rates is 1 in 3.5 million per year. And extremist Islamist terrorism worldwide has claimed 200-400 lives per year outside war zones, which although tragic and regrettable, amounts to the yearly number of bathtub drownings in the United States."
"the FBI receives more than 5,000 "threats" a day. Only a tiny number of these have led to terrorism arrests, but the FBI continues to follow up all of them, expending huge amounts of money in what some in the Bureau call "ghost chasing." "
Global Human Rights Cop | Simon Lester | Cato Institute: Commentary
Global Human Rights Cop | Simon Lester | Cato Institute: Commentary: "People in some parts of the world feel very strongly that the death penalty is abhorrent, and should be abolished. Feeling as they do, should foreign governments who take this view impose Magnitsky-type sanctions against Americans who are involved in executions?
Many people have condemned the U.S. treatment of prisoners at Guantanamo Bay. Should foreign governments who take this view impose Magnitsky-type sanctions against Americans who are involved in Guantanamo Bay?"
Many people have condemned the U.S. treatment of prisoners at Guantanamo Bay. Should foreign governments who take this view impose Magnitsky-type sanctions against Americans who are involved in Guantanamo Bay?"
Monday, September 24, 2012
Immodest Government | Michael D. Tanner | Cato Institute: Commentary
Immodest Government | Michael D. Tanner | Cato Institute: Commentary: "legislators decide that they owe it to their constituents to hold on to their seats forever — until, that is, they decide to run for a higher office"
"If you convince yourself that you are indispensable, it becomes very easy to justify casting votes that you know are wrong, to start salting your district with pork, and to vilify your opponents. After all, you tell yourself, these are small prices to pay in order to keep yourself in office."
"The president and Congress have to decide for us what charities we should support with our money. They need to determine what health-insurance benefits we should buy. From what kinds of light bulbs we buy to how our toilets flush, our political leaders are needed to design and micromanage our lives. They know what we should eat and what we should earn. They understand how much an airline should charge for baggage fees and know, down to the last decimal point, what the proper fee for processing a credit-card transaction is. And they can do all this while fine-tuning the economy and nation-building overseas.
The next great technological breakthrough might be a mystery to most of us, but it won’t be a mystery to the politicians in Washington. They can pick the winners and losers of the future. They know exactly how many miles to the gallon a car should get, and whether oil or wind power is a better investment. When President Obama argues that businessmen didn’t really build their businesses, he is reflecting the Washington mindset. How could business owners do anything on their own? They need Washington.
Of course, Congress also sees itself as uniquely qualified to make our moral choices, because clearly preachers, churches, and our own consciences can’t do the job. Congress isn’t just uniquely brilliant, it’s uniquely moral."
"If you convince yourself that you are indispensable, it becomes very easy to justify casting votes that you know are wrong, to start salting your district with pork, and to vilify your opponents. After all, you tell yourself, these are small prices to pay in order to keep yourself in office."
"The president and Congress have to decide for us what charities we should support with our money. They need to determine what health-insurance benefits we should buy. From what kinds of light bulbs we buy to how our toilets flush, our political leaders are needed to design and micromanage our lives. They know what we should eat and what we should earn. They understand how much an airline should charge for baggage fees and know, down to the last decimal point, what the proper fee for processing a credit-card transaction is. And they can do all this while fine-tuning the economy and nation-building overseas.
The next great technological breakthrough might be a mystery to most of us, but it won’t be a mystery to the politicians in Washington. They can pick the winners and losers of the future. They know exactly how many miles to the gallon a car should get, and whether oil or wind power is a better investment. When President Obama argues that businessmen didn’t really build their businesses, he is reflecting the Washington mindset. How could business owners do anything on their own? They need Washington.
Of course, Congress also sees itself as uniquely qualified to make our moral choices, because clearly preachers, churches, and our own consciences can’t do the job. Congress isn’t just uniquely brilliant, it’s uniquely moral."
Democrats' Hypocrisy with the Rich | Richard W. Rahn | Cato Institute: Commentary
Democrats' Hypocrisy with the Rich | Richard W. Rahn | Cato Institute: Commentary: "Sen. John F. Kerry and his wife are three to four times as rich as Mitt and Ann Romney, according to the New York Times, yet paid a lower tax rate than the Romneys in 2003, the year before Mr. Kerry ran for president?"
"[Sen. Carl Levin] demands transparency for everyone else's financial accounts, but he is one of the senators who has refused to release his own tax returns"
"[Sen. Carl Levin] demands transparency for everyone else's financial accounts, but he is one of the senators who has refused to release his own tax returns"
Flight attendant cited over gun at Philadelphia airport | Fox News
Flight attendant cited over gun at Philadelphia airport | Fox News: "the gun fired at Philadelphia International Airport as a police officer was trying to remove the bullets"
"the officer who accidentally discharged the gun will go back to training on handling weapons"
"the officer who accidentally discharged the gun will go back to training on handling weapons"
Saturday, September 22, 2012
Romney and Obama: Both Wrong on Medicare | Michael D. Tanner | Cato Institute: Commentary
Romney and Obama: Both Wrong on Medicare | Michael D. Tanner | Cato Institute: Commentary: "Last year, Americans paid $274 billion in Medicare taxes and premiums. At the same time, the program paid out $564 billion in benefits. That amounts to a shortfall of roughly $290 billion. Looking into the future, even the most optimistic estimate by the program's trustees puts Medicare's future unfunded liabilities at more than $38.6 trillion. More realistic projections suggest the shortfall could easily top $90 trillion."
"It is important to point out that the president's "cuts" are cuts only in the Washington sense of a reduction in the rate of increase. Republicans have long protested when their similar proposed slowdowns in growth were demagogued as cuts by Democrats. That would seem to make Romney and Ryan's complaint a little hypocritical."
"The Congressional Budget Office recently pointed out that virtually none of the president's proposed Medicare reforms have saved money in practice. And, when it comes to reducing provider payments, Congress hasn't exactly been a profile in courage: Witness the annual spectacle of the "doc fix," postponing already scheduled cuts."
"It is important to point out that the president's "cuts" are cuts only in the Washington sense of a reduction in the rate of increase. Republicans have long protested when their similar proposed slowdowns in growth were demagogued as cuts by Democrats. That would seem to make Romney and Ryan's complaint a little hypocritical."
"The Congressional Budget Office recently pointed out that virtually none of the president's proposed Medicare reforms have saved money in practice. And, when it comes to reducing provider payments, Congress hasn't exactly been a profile in courage: Witness the annual spectacle of the "doc fix," postponing already scheduled cuts."
Friday, September 21, 2012
The Effect of Wage-Rate Interventions - Percy L. Greaves, Jr. - Mises Daily
The Effect of Wage-Rate Interventions - Percy L. Greaves, Jr. - Mises Daily: "every law that raises wages for some lowers them for others. It seems to be very difficult for people to realize that all wages and employment cannot be increased by the mere passing of laws."
"In the long run it is the consumers who pay the wages. The businessman is merely a middleman. He tries to make a profit as a middleman, buying raw materials, hiring workers, and selling the products to consumers. He makes his profit, if any, by holding what he pays for the factors of production below what consumers will pay for the final product. However, once a profit appears, competitors continually bid up what must be paid for each factor of production, including labor. There is always a tendency in a free market for profits to be squeezed and disappear. This includes any profits obtained by paying workers wages lower than the market value of their contributions."
"The real secret of higher wages is increased savings per capita. Increased savings are a result of producing more than is consumed. If more goods and services are produced than are consumed, then these unconsumed goods and services are available for making tools, factories, and other things needed to help increase production. In my great country, living standards have gone up in the past because generation after generation of North Americans provided their children with more than they themselves had had. The history of our country has largely been that the first generation of immigrants provided their children with an elementary school education, the next generation saved enough to give their children a high school education, and the third generation sent their children through college. Now many are going on to graduate work. In this way each generation provided the next generation with a higher standard of living. In each case the higher education was the result of increased savings. The earlier generations just could not afford to provide their children with as much as later generations could."
"One of the great advantages of a capitalistic society is that low-income people can also invest their savings and earn a return on them."
"The essence of labor union policies is (1) to restrict production and (2) to prevent the unemployed, or those employed at lower wages, from improving their economic situation by underbidding union-imposed wage rates. We cannot improve the general welfare by following union policies that restrict production by making high wages higher for some workers, with the result that low wages are forced lower or become nonexistent for those made unemployable."
"the idea that only an equal exchange is a fair exchange, and that if the employer gains, he must have done so at the expense of the worker. This is responsible for much of the antagonism against the capitalist, against the investor, against the saver — the belief that his gain is unearned, and that the capitalist or saver is getting something at the expense of the worker."
"Actually, higher living standards require more production, not more money. Workers can only buy what is produced."
"If the consumer says a man's contribution is only worth $1.30, the employer is not going to pay him $1.40. The employer is only an agent of the consumer. So the man becomes legally unemployable. It is now illegal for anyone to hire him."
"If unions were organized on the basis of accepting only the best workers as members, and if union members performed a full day's work of high caliber, I, as a prospective employer, would be happy to hire union men and only union men rather than untried non-union workers of questionable ability."
"In the long run it is the consumers who pay the wages. The businessman is merely a middleman. He tries to make a profit as a middleman, buying raw materials, hiring workers, and selling the products to consumers. He makes his profit, if any, by holding what he pays for the factors of production below what consumers will pay for the final product. However, once a profit appears, competitors continually bid up what must be paid for each factor of production, including labor. There is always a tendency in a free market for profits to be squeezed and disappear. This includes any profits obtained by paying workers wages lower than the market value of their contributions."
"The real secret of higher wages is increased savings per capita. Increased savings are a result of producing more than is consumed. If more goods and services are produced than are consumed, then these unconsumed goods and services are available for making tools, factories, and other things needed to help increase production. In my great country, living standards have gone up in the past because generation after generation of North Americans provided their children with more than they themselves had had. The history of our country has largely been that the first generation of immigrants provided their children with an elementary school education, the next generation saved enough to give their children a high school education, and the third generation sent their children through college. Now many are going on to graduate work. In this way each generation provided the next generation with a higher standard of living. In each case the higher education was the result of increased savings. The earlier generations just could not afford to provide their children with as much as later generations could."
"One of the great advantages of a capitalistic society is that low-income people can also invest their savings and earn a return on them."
"The essence of labor union policies is (1) to restrict production and (2) to prevent the unemployed, or those employed at lower wages, from improving their economic situation by underbidding union-imposed wage rates. We cannot improve the general welfare by following union policies that restrict production by making high wages higher for some workers, with the result that low wages are forced lower or become nonexistent for those made unemployable."
"the idea that only an equal exchange is a fair exchange, and that if the employer gains, he must have done so at the expense of the worker. This is responsible for much of the antagonism against the capitalist, against the investor, against the saver — the belief that his gain is unearned, and that the capitalist or saver is getting something at the expense of the worker."
"Actually, higher living standards require more production, not more money. Workers can only buy what is produced."
"If the consumer says a man's contribution is only worth $1.30, the employer is not going to pay him $1.40. The employer is only an agent of the consumer. So the man becomes legally unemployable. It is now illegal for anyone to hire him."
"If unions were organized on the basis of accepting only the best workers as members, and if union members performed a full day's work of high caliber, I, as a prospective employer, would be happy to hire union men and only union men rather than untried non-union workers of questionable ability."
Thursday, September 20, 2012
Where to Cut the Federal Budget? Start by Killing Corporate Welfare | Doug Bandow | Cato Institute: Commentary
Where to Cut the Federal Budget? Start by Killing Corporate Welfare | Doug Bandow | Cato Institute: Commentary: "Imagine how Americans would suffer if, for instance, ethanol producers didn't receive multiple subsidies. Imagine the national hardship if homeowners had to pay the full cost of buying their houses. Imagine the mass weeping and gnashing of teeth if companies had to pay for their own research!"
"Although liberal Democrats often are perceived as anti-business, they usually are more pro-government. Which means that many support corporate welfare as enthusiastically as do Republicans, who usually are pro-business even if perceived to be anti- (or at least not quite as pro-) government."
"hile participants in the marketplace are imperfect and make mistakes, the marketplace involves people and institutions from across the nation and even world. Their collective judgment will almost always be better than that of ambitious and self-interested politicians and apparatchiks who control government."
"while the Left tends to rail against special interests and their role in election campaigns, its support for ever larger government inevitably enhances the role of special interests and their role in election campaigns. If government is actively enriching and destroying companies and entire industries, they have a right to influence government. The more booty that is available for political winners, the more business will spend and the harder it will fight to achieve victory."
"Although liberal Democrats often are perceived as anti-business, they usually are more pro-government. Which means that many support corporate welfare as enthusiastically as do Republicans, who usually are pro-business even if perceived to be anti- (or at least not quite as pro-) government."
"hile participants in the marketplace are imperfect and make mistakes, the marketplace involves people and institutions from across the nation and even world. Their collective judgment will almost always be better than that of ambitious and self-interested politicians and apparatchiks who control government."
"while the Left tends to rail against special interests and their role in election campaigns, its support for ever larger government inevitably enhances the role of special interests and their role in election campaigns. If government is actively enriching and destroying companies and entire industries, they have a right to influence government. The more booty that is available for political winners, the more business will spend and the harder it will fight to achieve victory."
The Bipartisan Imperial Presidency | Gene Healy | Cato Institute: Commentary
The Bipartisan Imperial Presidency | Gene Healy | Cato Institute: Commentary: "[Paul Ryan is ] one of "only six Republicans who voted yes on the auto bailout and both bank bailout votes," "
"in areas where the president has much more discretion than he does over the budget — there isn't a dime's worth of difference between the two tickets. Among those questions: Can the president launch wars at will, subject American citizens to military detention and assassinate them via drone strike?"
"You can't expect the American presidency to operate as the Supreme Warlord of the Earth while abroad and remain a constitutionally constrained chief magistrate at home."
"A government big enough to whack its citizens with drones is big enough to make them buy health insurance."
"in areas where the president has much more discretion than he does over the budget — there isn't a dime's worth of difference between the two tickets. Among those questions: Can the president launch wars at will, subject American citizens to military detention and assassinate them via drone strike?"
"You can't expect the American presidency to operate as the Supreme Warlord of the Earth while abroad and remain a constitutionally constrained chief magistrate at home."
"A government big enough to whack its citizens with drones is big enough to make them buy health insurance."
Stop Global Economic Malpractice | Richard W. Rahn | Cato Institute: Commentary
Stop Global Economic Malpractice | Richard W. Rahn | Cato Institute: Commentary: "Politicians tend to like bigger government because it gives them more power — so they have a natural inclination to try to increase taxes rather than cut spending. The problem is the type of tax that does the least damage to economic growth and job creation is a tax on consumption that hits everyone. Politicians know the greatest chance of public approval for a tax increase is aiming at relatively few people and, particularly, people who can be characterized as evil — such as "the rich." "
Monday, September 17, 2012
Hyperinflation Is Not Inevitable (Default Is) - Gary North - Mises Daily
Hyperinflation Is Not Inevitable (Default Is) - Gary North - Mises Daily: "[Government] has made specific promises to the entire working population. These promises have the force of law. They also cannot be escaped by means of short-term monetary expansion. It is possible for the government for a brief period of time to get its hands on money that is depreciating, but there are cost-of-living escalators built into Social Security payments."
"The total obligation of the federal government to voters that is not funded at the present time is now $222 trillion."
"This is a problem created by every group of politicians in the world who have overpromised what each national government is going to be able to deliver in the future."
"What possible incentive is there for the Federal Reserve System to hyperinflate the money to zero value, when the political obligations of the old-age retirement system will survive the time of hyperinflation?"
"The government is going to have to renege on promises made to the vast majority of people who are now dependent on the federal government for their retirement income, and it will also default on the workers who are still in the workforce, who are paying each payday into Social Security and Medicare."
"The total obligation of the federal government to voters that is not funded at the present time is now $222 trillion."
"This is a problem created by every group of politicians in the world who have overpromised what each national government is going to be able to deliver in the future."
"What possible incentive is there for the Federal Reserve System to hyperinflate the money to zero value, when the political obligations of the old-age retirement system will survive the time of hyperinflation?"
"The government is going to have to renege on promises made to the vast majority of people who are now dependent on the federal government for their retirement income, and it will also default on the workers who are still in the workforce, who are paying each payday into Social Security and Medicare."
Friday, September 14, 2012
Eliminate Impediment to Growth | Jeffrey A. Miron | Cato Institute: Commentary
Eliminate Impediment to Growth | Jeffrey A. Miron | Cato Institute: Commentary: "The usual objection to eliminating taxes on capital income is that it would largely benefit high-income households, who get much of their income from interest, dividends and capital gains.
The fairness objection is not convincing, however, because American taxation of capital income leads capital to countries with lower rates of taxation. The big losers are then the people who might have earned wages and salaries in the businesses using that capital. "
The fairness objection is not convincing, however, because American taxation of capital income leads capital to countries with lower rates of taxation. The big losers are then the people who might have earned wages and salaries in the businesses using that capital. "
Teachers strike carries risks for young athletes | Fox News
Teachers strike carries risks for young athletes | Fox News: "he and his football teammates have been holding daily practices on their own, without coaches, who are almost all union members."
Thursday, September 13, 2012
MediScare Returns | Michael D. Tanner | Cato Institute: Commentary
MediScare Returns | Michael D. Tanner | Cato Institute: Commentary: "the most optimistic estimate puts Medicare's future unfunded liabilities at more than $38.6 trillion. More realistic projections suggest the shortfall could actually top $90 trillion.
To put this in perspective, the total wealth of every American earning more than $1 million totals roughly $11 trillion. So we could confiscate every penny belonging to every millionaire and billionaire in America and still cover less than a third of Medicare's red ink, even using the lowest estimate for its unfunded liabilities. There is no way to fix Medicare's finances just by raising taxes on the rich."
"The Congressional Budget Office recently pointed out that virtually none of the president's proposed Medicare reforms actually saved money in practice."
To put this in perspective, the total wealth of every American earning more than $1 million totals roughly $11 trillion. So we could confiscate every penny belonging to every millionaire and billionaire in America and still cover less than a third of Medicare's red ink, even using the lowest estimate for its unfunded liabilities. There is no way to fix Medicare's finances just by raising taxes on the rich."
"The Congressional Budget Office recently pointed out that virtually none of the president's proposed Medicare reforms actually saved money in practice."
Obama's Overreaches | Michael D. Tanner | Cato Institute: Commentary
Obama's Overreaches | Michael D. Tanner | Cato Institute: Commentary: "an even bigger concern is the president's assertion that he has the power to waive those requirements in the first place, especially since the law clearly appears to prohibit such waivers."
"On issue after issue, the president insists that "we can't wait." He won't wait for a Congress that may not agree with his ideas for remaking America; he will simply act all by himself."
"On issue after issue, from immigration to housing to presidential appointments, the president has claimed the power to make law unilaterally without congressional action or approval. This is not a question of policy — I actually agree with the president on some of these issues — but of the usurpation of legislative authority. President Obama is dangerously weakening the separation of powers that is at the core of our system of government.
We are, after all, a government of laws and not of men. That should be true even when the president can't wait."
"On issue after issue, the president insists that "we can't wait." He won't wait for a Congress that may not agree with his ideas for remaking America; he will simply act all by himself."
"On issue after issue, from immigration to housing to presidential appointments, the president has claimed the power to make law unilaterally without congressional action or approval. This is not a question of policy — I actually agree with the president on some of these issues — but of the usurpation of legislative authority. President Obama is dangerously weakening the separation of powers that is at the core of our system of government.
We are, after all, a government of laws and not of men. That should be true even when the president can't wait."
California's Prop 37: A Feast for Lawyers | Walter Olson | Cato Institute: Commentary
California's Prop 37: A Feast for Lawyers | Walter Olson | Cato Institute: Commentary: "California's fabled Proposition 65, enacted in 1986, requires the labeling of products that expose consumers to substances linked to cancer. That's a pleasant-sounding idea too, but 26 years later the law has benefited almost no one but litigators. Even as cancer remains just as much of a problem in California as elsewhere, a cadre of lawyers in the state have made many, many tens of millions of dollars filing inadequate-labeling suits against purveyors of such products as candles, fireplace logs, Christmas lights, hammers, billiard cue chalk, matches, grilled chicken, life-saving drugs, brass doorknobs, car exhaust in parking garages, and on and on. (Most of the money in the resulting settlements goes to the lawyers, which is one reason defendants often describe Prop 65 litigation as legalized extortion.)"
Paul Ryan: Don't Believe the Hype | Gene Healy | Cato Institute: Commentary
Paul Ryan: Don't Believe the Hype | Gene Healy | Cato Institute: Commentary: "Ryan was a loyal soldier throughout the free-spending George W. Bush years, voting for No Child Left Behind and the creation of the Department of Homeland Security, among other debacles. At the dawn of the Tea Party, Ryan lent his support to the auto and bank bailouts. He voted for TARP and gave "one of the most hysterical speeches" demanding others do the same"
Tuesday, September 11, 2012
Taxpayers to get charged as Pentagon buys up Chevy Volts | Fox News
Taxpayers to get charged as Pentagon buys up Chevy Volts | Fox News: "Earlier this week, Reuters reported that GM is losing up to $49,000 on every Volt driven out of the showroom. The report took GM’s huge investment in the pioneering car and divided it by the meager sales to date and concluded that each car costs the company nearly $90,000 – more than double the sticker price."
Or get a Tesla for $50k that has 6 times the range!
Or get a Tesla for $50k that has 6 times the range!
September 9: Mitt Romney, Ann Romney, Julian Castro, Peggy Noonan, E.J. Dionne, Bill Bennett, Chuck Todd - Meet the Press - Transcripts | NBC News
September 9: Mitt Romney, Ann Romney, Julian Castro, Peggy Noonan, E.J. Dionne, Bill Bennett, Chuck Todd - Meet the Press - Transcripts | NBC News: "Well, I'm not getting rid of all of healthcare reform. Of course, there are a number of things that I like in healthcare reform that I'm going to put in place. One is to make sure that those with pre-existing conditions can get coverage. Two is to assure that the marketplace allows for individuals to have policies that cover their-- their family up to whatever age they might like. I also want individuals to be able to buy insurance, health insurance, on their own as opposed to only being able to get it on a tax advantage basis through their company."
Monday, September 10, 2012
Teachers, students in one Alabama city told to fight back if facing violent intruder | Fox News
Teachers, students in one Alabama city told to fight back if facing violent intruder | Fox News: "School systems typically tell workers and students to lock every possible door and hide if an intruder enters a classroom building. But Tuscaloosa schools have started a program with city police in which employees and students are being trained to fight back if necessary."
"Police Lt. A.B. Green, who is overseeing the training, said hiding from intruders is sometimes not enough."
"Police Lt. A.B. Green, who is overseeing the training, said hiding from intruders is sometimes not enough."
Economic Lessons from the Olympics | Richard W. Rahn | Cato Institute: Commentary
Economic Lessons from the Olympics | Richard W. Rahn | Cato Institute: Commentary: "Civilization can only advance when individuals are both encouraged and rewarded for excellence. "
"We pay our successful athletes and musicians a great deal of money because their performances "give" us great pleasure. Sam Walton made tens of billions of dollars because he developed and "gave" us a superior marketing and distribution system that enabled all of us to buy tens of thousands of products at lower prices. Those "evil" real estate developers are the ones who take great risks to build hugely expensive buildings and hire great architects who "give" the rest of us the profile and structures of the cities where we live and work."
"We pay our successful athletes and musicians a great deal of money because their performances "give" us great pleasure. Sam Walton made tens of billions of dollars because he developed and "gave" us a superior marketing and distribution system that enabled all of us to buy tens of thousands of products at lower prices. Those "evil" real estate developers are the ones who take great risks to build hugely expensive buildings and hire great architects who "give" the rest of us the profile and structures of the cities where we live and work."
Friday, September 07, 2012
The Illegal IRS Rule to Expand Tax Credits under the PPACA: A Response to Timothy Jost | Michael F. Cannon and Jonathan H. Adler | Cato Institute: Commentary
The Illegal IRS Rule to Expand Tax Credits under the PPACA: A Response to Timothy Jost | Michael F. Cannon and Jonathan H. Adler | Cato Institute: Commentary: "even though some members of Congress and the President might have preferred a law that authorized tax credits in federal Exchanges, they nevertheless enacted a law that did not. "
Maybe they should have read the bill before they passed it. :-p
Maybe they should have read the bill before they passed it. :-p
Thursday, September 06, 2012
Cut Big Business's Corporate Welfare | Tad DeHaven | Cato Institute: Commentary
Cut Big Business's Corporate Welfare | Tad DeHaven | Cato Institute: Commentary: "A new study from the Cato Institute estimates that the federal government will spend almost $100 billion on corporate welfare this year."
"Hundreds of millions of taxpayer dollars have been lost year after year on businesses that were simply not financially viable"
"as the ongoing debacle with clean energy subsidies shows, policymakers do not possess special knowledge that enables them to allocate capital more efficiently than markets."
"The reality is that lawmakers often have base parochial interests in mind when they support subsidy programs. During a Senate committee hearing on the Department of Energy in February, Sen. Al Franken, Minnesota Democrat, spent his allotted time badgering Secretary Steven Chu about a federal loan his department conditionally approved for a company in his state in 2010 but had yet to be finalized. On the other side of the aisle, dozens of congressional Republicans — many critical of the administration's energy subsidy policies — were found to have quietly sent letters to Mr. Chu requesting handouts to businesses in their backyards."
"Hundreds of millions of taxpayer dollars have been lost year after year on businesses that were simply not financially viable"
"as the ongoing debacle with clean energy subsidies shows, policymakers do not possess special knowledge that enables them to allocate capital more efficiently than markets."
"The reality is that lawmakers often have base parochial interests in mind when they support subsidy programs. During a Senate committee hearing on the Department of Energy in February, Sen. Al Franken, Minnesota Democrat, spent his allotted time badgering Secretary Steven Chu about a federal loan his department conditionally approved for a company in his state in 2010 but had yet to be finalized. On the other side of the aisle, dozens of congressional Republicans — many critical of the administration's energy subsidy policies — were found to have quietly sent letters to Mr. Chu requesting handouts to businesses in their backyards."
Wednesday, September 05, 2012
Federal Spending: Killing the Economy with Government Stimulus | Doug Bandow | Cato Institute: Commentary
Federal Spending: Killing the Economy with Government Stimulus | Doug Bandow | Cato Institute: Commentary: "If government could spend America to prosperity, good times would have arrived long ago."
"Economic growth requires good spending, not more spending. After all, Washington could pay every American $10,000 to dig a hole in his or her neighbor's yard and then another $10,000 to fill it in. It would be a ludicrous policy, yet Keynes argued that the unemployed would be better off if paid by the government to "dig holes in the ground."
Most jobs bills are little different than paying people to dig holes."
"Robert Barro reviewed the experience of World War I, World War II, the Korean War, and the Vietnam War, and came up with a multiplier of 0.8, which means that government outlays actually "lowered components of GDP aside from military purchases." "
"roughly $900 billion in federal "stimulus" spending from ARRA probably resulted in only $600 billion in increased growth"
"it appears that a rise in government spending does not stimulate private spending; most estimates suggest that it significantly lowers private spending."
"it was the end of this wartime "stimulus spending"—which Herman figured at $3 trillion in today's dollars—which led to economic growth. At the time people feared that Washington slashing arms production and demobilizing military personnel would lead to another depression. However, he observed, "private investment came roaring back, triggering steady economic growth that pushed the U.S. into a new ear, as the most prosperous society in history." "
"The CBO figured that the president's program would increase GDP through 2012, but there would be no effect in 2013 and 2014 and then the impact would be negative. Last November the agency concluded that ARRA's impact peaked in 2010, while the accumulated debt would "reduce output slightly in the long run—by between 0 and 0.2 percent after 2016." "
"Economic growth requires good spending, not more spending. After all, Washington could pay every American $10,000 to dig a hole in his or her neighbor's yard and then another $10,000 to fill it in. It would be a ludicrous policy, yet Keynes argued that the unemployed would be better off if paid by the government to "dig holes in the ground."
Most jobs bills are little different than paying people to dig holes."
"Robert Barro reviewed the experience of World War I, World War II, the Korean War, and the Vietnam War, and came up with a multiplier of 0.8, which means that government outlays actually "lowered components of GDP aside from military purchases." "
"roughly $900 billion in federal "stimulus" spending from ARRA probably resulted in only $600 billion in increased growth"
"it appears that a rise in government spending does not stimulate private spending; most estimates suggest that it significantly lowers private spending."
"it was the end of this wartime "stimulus spending"—which Herman figured at $3 trillion in today's dollars—which led to economic growth. At the time people feared that Washington slashing arms production and demobilizing military personnel would lead to another depression. However, he observed, "private investment came roaring back, triggering steady economic growth that pushed the U.S. into a new ear, as the most prosperous society in history." "
"The CBO figured that the president's program would increase GDP through 2012, but there would be no effect in 2013 and 2014 and then the impact would be negative. Last November the agency concluded that ARRA's impact peaked in 2010, while the accumulated debt would "reduce output slightly in the long run—by between 0 and 0.2 percent after 2016." "
Online Sales Tax Is a Money Grab by Politicians | Daniel J. Mitchell | Cato Institute: Commentary
Online Sales Tax Is a Money Grab by Politicians | Daniel J. Mitchell | Cato Institute: Commentary: "It can only work by creating a massive database that matches online purchases with the state and local sales tax rates for every consumer.
I don't know about you, but I'm not confident that this type of untested system will be secure."
"And just as you don't cure alcoholics by giving them keys to a liquor store, you don't solve the problem of excessive spending by giving politicians a new tax."
I don't know about you, but I'm not confident that this type of untested system will be secure."
"And just as you don't cure alcoholics by giving them keys to a liquor store, you don't solve the problem of excessive spending by giving politicians a new tax."
Obama Is No Clinton | Michael D. Tanner | Cato Institute: Commentary
Obama Is No Clinton | Michael D. Tanner | Cato Institute: Commentary: "Under President Clinton, federal spending averaged 19.8 percent of GDP and actually hit a low of just 18.3 percent. In contrast, spending under President Obama over the past four years has averaged 24.4 percent of GDP. And going forward, the president's proposed budgets would never spend less than 22 percent of GDP."
Does the U.S. Military Face 'Goofy Meat Axe' Cuts? | Benjamin H. Friedman | Cato Institute: Commentary
Does the U.S. Military Face 'Goofy Meat Axe' Cuts? | Benjamin H. Friedman | Cato Institute: Commentary: ".S. Senator John McCain, for example, claims that sequestration will result in an "inability to defend the nation," without bothering to say which of our minor enemies will suddenly outgun us."
"sequestration would leave the 2021 Pentagon with purchasing power about equal to what it had in 2006, leaving out the wars. That would leave more in real terms than what we spent on the military at the height of the Cold War."
"the Pentagon has authority to transfer or reprogram funds, some with the permission of the chairmen and ranking members of four defense committees. The Pentagon has used those powers to shift $12 billion to $15 billion annually of late. That's potentially half of the outlays that sequestration would take in 2013."
"sequestration would leave the 2021 Pentagon with purchasing power about equal to what it had in 2006, leaving out the wars. That would leave more in real terms than what we spent on the military at the height of the Cold War."
"the Pentagon has authority to transfer or reprogram funds, some with the permission of the chairmen and ranking members of four defense committees. The Pentagon has used those powers to shift $12 billion to $15 billion annually of late. That's potentially half of the outlays that sequestration would take in 2013."
Anarchy in the Aachen - Peter C. Earle - Mises Daily
Anarchy in the Aachen - Peter C. Earle - Mises Daily: "Taxes hadn't changed since the designation of the neutral zone in 1816, and visitors noted that Moresnet was "without the beggars who are [a] sadly familiar sight" across the rest of Europe."
Resist the U.N.'s Disability Convention | Richard W. Rahn | Cato Institute: Commentary
Resist the U.N.'s Disability Convention | Richard W. Rahn | Cato Institute: Commentary: "Article 4(1)(e) demands that "every person, organization, or private enterprise" must eliminate discrimination on the basis of disability. Taken literally, which some lawyers are sure to do, every homeowner might be required to install wheelchair ramps or even elevators in their homes, regardless of the cost."
"Should the United States accede to this treaty, we will be obligated to write a status report every four years regarding our disability laws and receive criticism and recommendations from a committee of representatives from countries that have lower standards for the disabled than our own. We do not know the scope of this report or its financial and labor costs to the American taxpayer."
"Should the United States accede to this treaty, we will be obligated to write a status report every four years regarding our disability laws and receive criticism and recommendations from a committee of representatives from countries that have lower standards for the disabled than our own. We do not know the scope of this report or its financial and labor costs to the American taxpayer."
Tuesday, September 04, 2012
The Statist Propositions of Protectionism - Gary North - Mises Daily
The Statist Propositions of Protectionism - Gary North - Mises Daily: "The further a nation goes on the road toward public regulation and regimentation, the more it is pushed toward economic isolation. International division of labor becomes suspect because it hinders the full use of national sovereignty."
"Free trade is a crucial economic policy in the program to restrict the growth of socialism." "He recognized the threat of all arguments for protectionism: they help to expand the power of the state. They move in the direction of central economic planning."
"the God of the Bible is overwhelmingly the defender of private property rights. This is encapsulated in the commandment: "Thou shalt not steal." I keep contrasting this concept with the assertion of all modern welfare-state economists: "Thou shalt not steal, except by majority vote." "
"Free trade is a crucial economic policy in the program to restrict the growth of socialism." "He recognized the threat of all arguments for protectionism: they help to expand the power of the state. They move in the direction of central economic planning."
"the God of the Bible is overwhelmingly the defender of private property rights. This is encapsulated in the commandment: "Thou shalt not steal." I keep contrasting this concept with the assertion of all modern welfare-state economists: "Thou shalt not steal, except by majority vote." "
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