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From the Nanny State to the Bully State | Patrick Basham | Cato Institute: Commentary: "Providing health information has not failed. What has failed is the state's expensive attempt to instill fear in the minds of its citizens about many of their dietary and recreational choices. Serious health warnings are diluted when consumers are deluged by 'warnings' about every imaginable item, ingredient, and eventuality. There is already evidence that consumers are confused by warning labels, for example. Clearly, most of these labels should come with their own warning: 'Caution: Bureaucrats at Work'.
Prevention has failed to ward off lifestyle illnesses for the fundamental reason that such illnesses are multifactoral and, therefore, it is clinically impossible to identify the sole cause of a disease. Consider, for instance, the multiplicity of risk factors for both lung cancer and heart disease-thirty for the former and over three hundred for the latter."
"The standards of scientific evidence required to justify public health interventions are far, far higher than those employed by policymakers. Evidence-light, photo-op policymaking often makes for good media coverage and, at times, good politicking, but it rarely makes for good public health."
Tuesday, March 30, 2010
The Rich Can't Pay for ObamaCare | Alan Reynolds | Cato Institute: Commentary
The Rich Can't Pay for ObamaCare | Alan Reynolds | Cato Institute: Commentary: "From past experience, these are just a few of the ways that taxpayers will react to the Obama administration's tax plans:
* Professionals and companies who currently file under the individual income tax as partnerships, LLCs or Subchapter S corporations would form C-corporations to shelter income, because the corporate tax rate would then be lower with fewer arbitrary limits on deductions for costs of earning income.
* Investors who jumped into dividend-paying stocks after 2003 when the tax rate fell to 15% would dump many of those shares in favor of tax-free municipal bonds if the dividend tax went up to 23.8% as planned.
* Faced with a 23.8% capital gains tax, high-income investors would avoid realizing gains in taxable accounts unless they had offsetting losses.
* Faced with a rapid phase-out of deductions and exemptions for reported income above $250,000, any two-earner family in a high-tax state could keep their income below that pain threshold by increasing 401(k) contributions, switching investments into tax-free bond funds, and avoiding the realization of capital gains.
* Faced with numerous tax penalties on added income in general, many two-earner couples would become one-earner couples, early retirement would become far more popular, executives would substitute perks for taxable paychecks, physicians would play more golf, etc.
In short, the evidence is clear that when marginal tax rates go up, the amount of reported incomes goes down."
"If an accurate ETI estimate for the highest incomes is closer to 1.0 than 0.5, as such studies suggest, the administration's intended tax hikes on high-income families will raise virtually no revenue at all. Yet the higher tax rates will harm economic growth through reduced labor effort, thwarted entrepreneurship, and diminished investments in physical and human capital. And that, in turn, means a smaller tax base and less revenue in the future."
* Professionals and companies who currently file under the individual income tax as partnerships, LLCs or Subchapter S corporations would form C-corporations to shelter income, because the corporate tax rate would then be lower with fewer arbitrary limits on deductions for costs of earning income.
* Investors who jumped into dividend-paying stocks after 2003 when the tax rate fell to 15% would dump many of those shares in favor of tax-free municipal bonds if the dividend tax went up to 23.8% as planned.
* Faced with a 23.8% capital gains tax, high-income investors would avoid realizing gains in taxable accounts unless they had offsetting losses.
* Faced with a rapid phase-out of deductions and exemptions for reported income above $250,000, any two-earner family in a high-tax state could keep their income below that pain threshold by increasing 401(k) contributions, switching investments into tax-free bond funds, and avoiding the realization of capital gains.
* Faced with numerous tax penalties on added income in general, many two-earner couples would become one-earner couples, early retirement would become far more popular, executives would substitute perks for taxable paychecks, physicians would play more golf, etc.
In short, the evidence is clear that when marginal tax rates go up, the amount of reported incomes goes down."
"If an accurate ETI estimate for the highest incomes is closer to 1.0 than 0.5, as such studies suggest, the administration's intended tax hikes on high-income families will raise virtually no revenue at all. Yet the higher tax rates will harm economic growth through reduced labor effort, thwarted entrepreneurship, and diminished investments in physical and human capital. And that, in turn, means a smaller tax base and less revenue in the future."
South Korea Needs Better Defense | Doug Bandow | Cato Institute: Commentary
South Korea Needs Better Defense | Doug Bandow | Cato Institute: Commentary: "As long as 27,000 American personnel remain on station in the ROK, the South is not doing enough militarily."
"Yet the South is capable of defending itself. Over the last 60 years it has been transformed from an authoritarian wreck into a prosperous democratic leader internationally. The ROK's economy ranks 13th in the world. South Korea's GDP is roughly 40 times that of the North. Should it desire to do so, Seoul could spend more than the entire North Korean GDP on defense alone."
"Yet the South is capable of defending itself. Over the last 60 years it has been transformed from an authoritarian wreck into a prosperous democratic leader internationally. The ROK's economy ranks 13th in the world. South Korea's GDP is roughly 40 times that of the North. Should it desire to do so, Seoul could spend more than the entire North Korean GDP on defense alone."
Monday, March 29, 2010
The Entitlement Mentality in Academia - Daniel Coleman - Mises Institute
The Entitlement Mentality in Academia - Daniel Coleman - Mises Institute: "Only in academia — or in government — could the reduction of just over two hundred jobs from among thousands (and in this economic climate!) be considered 'draconian' and 'savage' in an unqualified sense."
"Brian Leiter comments on the situation:
KCL Philosophy is a remarkably consistent unit in terms of strength, so it is an insult that any member of staff should have to re-apply for his or her job. Indeed, we can go much further: it is an insult and an outrage that any professional hired with an expectation of permanent employment absent gross dereliction of duties should have to re-apply for his or her job.
Terms like 'insult' and 'outrage' imply that the morality of a matter is clear and needs little or no explanation. "
"Brian Leiter comments on the situation:
KCL Philosophy is a remarkably consistent unit in terms of strength, so it is an insult that any member of staff should have to re-apply for his or her job. Indeed, we can go much further: it is an insult and an outrage that any professional hired with an expectation of permanent employment absent gross dereliction of duties should have to re-apply for his or her job.
Terms like 'insult' and 'outrage' imply that the morality of a matter is clear and needs little or no explanation. "
Friday, March 26, 2010
If You Blinked, You May Have Missed What Congress Just Passed | Michael D. Tanner | Cato Institute: Commentary
If You Blinked, You May Have Missed What Congress Just Passed | Michael D. Tanner | Cato Institute: Commentary: "In fact, the congressional Budget Office predicts that, despite passage of this bill, insurance premiums will double in the next few years. Worse, for the millions of Americans who get their insurance through the individual market, rather than from an employer, this bill will raise premiums by 10-13 percent more because of this bill.
Nor will we have achieved universal insurance coverage. It is predicted that the bill will eventually result in some 32 million more Americans becoming insured (still leaving some 21 million uninsured). But that wouldn't be achieved until at least 2019."
"Democrats did manage to frontload the bill with some changes that will take effect within the next few months, and are likely to prove popular. For example, the federal government will mail a $250 check to every senior in America. Now that may not have much to do with health care reform, but after all, there is an election coming up.
Beyond that, parents will be able to keep their children on their family insurance plan until those children reach age 26. Of course, that will not be free. Parents who do so can expect to pay higher premiums."
Nor will we have achieved universal insurance coverage. It is predicted that the bill will eventually result in some 32 million more Americans becoming insured (still leaving some 21 million uninsured). But that wouldn't be achieved until at least 2019."
"Democrats did manage to frontload the bill with some changes that will take effect within the next few months, and are likely to prove popular. For example, the federal government will mail a $250 check to every senior in America. Now that may not have much to do with health care reform, but after all, there is an election coming up.
Beyond that, parents will be able to keep their children on their family insurance plan until those children reach age 26. Of course, that will not be free. Parents who do so can expect to pay higher premiums."
Kitty Rhodes - March 26
March 26: "Supporters of the provision claim that Congress has the authority to mandate insurance because of the Commerce Clause in the Constitution. This is a very interesting argument due to the nature of the people who are being regulated. People who do not purchase health insurance are by definition not engaging in commerce. If someone is not engaging in commerce, the question becomes 'how can the federal government regulate it as commerce?'"
"if an adult child is added to a parents health insurance policy and is not a dependent, the health care benefits that child receives are considered taxable at the fair market value."
"if an adult child is added to a parents health insurance policy and is not a dependent, the health care benefits that child receives are considered taxable at the fair market value."
Thursday, March 25, 2010
FOXNews.com - NASA Caught Paying Sky-High Prices for Snacks
FOXNews.com - NASA Caught Paying Sky-High Prices for Snacks: "The nation's space agency paid the out-of-this-world price of $66 a person a day for bagels, cookies and juice at a conference, a new report found.
The subject of the NASA conference? It was a training session for its procurement officials, the people who do the buying with taxpayer money.
During the three-day conference, the 317 attendees snacked on 'light refreshments' of soda, coffee, fruit, bagels and cookies at a cost of $62,611"
The subject of the NASA conference? It was a training session for its procurement officials, the people who do the buying with taxpayer money.
During the three-day conference, the 317 attendees snacked on 'light refreshments' of soda, coffee, fruit, bagels and cookies at a cost of $62,611"
They Fly First Class - John Stossel
They Fly First Class - John Stossel: "The Securities and Exchange Commission, for example, frequently sent employees overseas on first- or business-class airplane tickets that cost taxpayers up to $10,000 each..."
"Certainly the scolds at the Environmental Protection Agency wouldn't allow any kind of wasteful travel.
(EPA) Employees faced with supervisors who rejected travel requests could manipulate the electronic system to, in effect, approve their own travel. Because the agency's leadership did not bother to review travel spending, the requests were processed automatically.
Sweet. And why should the EPA's leadership review their staffers' travel spending? It's not their money; the money came from the suckers, er, taxpayers, many of whom ride buses and subways to work and skip vacations to save a few bucks."
"Certainly the scolds at the Environmental Protection Agency wouldn't allow any kind of wasteful travel.
(EPA) Employees faced with supervisors who rejected travel requests could manipulate the electronic system to, in effect, approve their own travel. Because the agency's leadership did not bother to review travel spending, the requests were processed automatically.
Sweet. And why should the EPA's leadership review their staffers' travel spending? It's not their money; the money came from the suckers, er, taxpayers, many of whom ride buses and subways to work and skip vacations to save a few bucks."
Wednesday, March 24, 2010
Changing the Health Care Game | William Shipman | Cato Institute: Commentary
Changing the Health Care Game | William Shipman | Cato Institute: Commentary: "If America wishes to change this trajectory, it needs new and bold thinking. Here is one candidate: Repeal the 16th Amendment to the Constitution (ratified Feb. 3, 1913) which gives Congress the power to lay and collect taxes, and replace it with an amendment that requires each state to remit to the federal government a certain percent of its tax revenue. This would change the game."
FOXNews.com - Private Guards Kill Somali Pirate for First Time
FOXNews.com - Private Guards Kill Somali Pirate for First Time: "Pirate attacks have not declined despite patrols by dozens of warships off the Somali coast. The amount of ocean to patrol is too vast to protect every ship and pirates have responded to the increased naval presence by moving attacks farther out to sea."
Why don't military ships escort the merchant ships in groups?
Why don't military ships escort the merchant ships in groups?
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