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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?
Tuesday, June 08, 2010
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."
"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."
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? "
"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).
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.
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.
Wednesday, June 02, 2010
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."
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."
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."
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