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Another Failed Gun Control Experiment | Cato Institute: "…why didn’t the gun-control lobby warn legislators in 1998 that adopting the toughest gun law in America would do Massachusetts no good unless every surrounding state did the same thing? Far from explaining why the new law would do nothing to curb violent crime, they were positive it would make Massachusetts even safer. …But crime in Massachusetts didn’t just continue, it began climbing. As in the rest of the country, violent crime had been declining in Massachusetts since the early 1990s. Beginning in 1998, that decline reversed — unlike in the rest of the country. …Guns-across-borders might have explained homicide levels in Massachusetts continuing unchanged. But how can other states’ policies be responsible for an increase in Massachusetts homicides? Relative to the rest of the country, or to just the states on its borders, Massachusetts since 1998 has become a more dangerous state. "
Monday, September 09, 2013
Marijuana, Sex and Amsterdam | Cato Institute
Marijuana, Sex and Amsterdam | Cato Institute: "In 2009, the past year marijuana use rate was 11.3 percent in the United States but only 7.0 percent in the Netherlands. This does not prove that legalization lowers drug use; many other factors are at play. But these data hardly support the claim that prohibition has a material impact in reducing use."
Thursday, September 05, 2013
Voting Rights Ruling not a Step Back | Cato Institute
Voting Rights Ruling not a Step Back | Cato Institute: "The only difference from the Section 5 regime is that the government will now actually have to prove the existence of systemic discrimination. If Holder can meet that standard, it will undermine the administration’s claim that the Supreme Court made it impossible to enforce voting rights. If he can’t, isn’t that a good thing?"
Fannie & Freddie vs. Wall Street? That's Wishful Spin | Cato Institute
Fannie & Freddie vs. Wall Street? That's Wishful Spin | Cato Institute: "If you combined the required capital for both Fannie Mae and Bank A, the financial system is still holding less than half as much capital than if mortgages were held whole on bank balance sheets.
Had all single-family mortgages been held whole on bank balance sheets in 2006, our financial system would have held over $210 billion in additional capital, not far off from the $205 billion obligated under TARP’s bank capital purchase program.
The primary function of Fannie Mae and Freddie Mac has long been to allow banks an avenue for transferring the credit risk of their mortgages to the taxpayer."
Had all single-family mortgages been held whole on bank balance sheets in 2006, our financial system would have held over $210 billion in additional capital, not far off from the $205 billion obligated under TARP’s bank capital purchase program.
The primary function of Fannie Mae and Freddie Mac has long been to allow banks an avenue for transferring the credit risk of their mortgages to the taxpayer."
Welfare for the Non-Poor | Cato Institute
Welfare for the Non-Poor | Cato Institute: "In 1965, transfer payments from the federal government were equivalent to less than 10 percent of all wages and salaries paid in the United States. As recently as 2000, that figure was just 21 percent. Today, transfer payments are equivalent to almost 35 percent of all salaries and wages. And these payments are not going just to the poor. In 1979, for example, more than 54 percent of federal transfer payments went to the poorest 20 percent of Americans. Today, less than 40 percent does.
And, if one includes payments to government contractors and salaries of federal employees, roughly 97 million Americans — 31 percent of the population — receive more than half their income from the government."
"the federal government spent almost $100 billion on corporate welfare last year"
"many of the loudest critics of welfare for the poor are the quickest to object when future Medicare cuts are discussed"
And, if one includes payments to government contractors and salaries of federal employees, roughly 97 million Americans — 31 percent of the population — receive more than half their income from the government."
"the federal government spent almost $100 billion on corporate welfare last year"
"many of the loudest critics of welfare for the poor are the quickest to object when future Medicare cuts are discussed"
Coase and Immigration | Cato Institute
Coase and Immigration | Cato Institute: "The government is unable to determine an efficient tax rate to internalize the costs of production. Government agents have their own motivations and incentives that do not coincide with creating efficient Pigouvian Tax rates. Politicians want to get elected, which means they could support tax rates based on their constituent’s desires. Those constituents will have complex incentives that have little to do with finding a tax level that minimizes the costs of pollutions to an efficient level. Some bureaucrats will want higher taxes to extend their revenue while others will think it weakens their control if taxes replace command and control regulations. If a tax is imposed on carbon dioxide and it turns out to be based on a faulty understanding of the science of climate change, the government will not surrender a large source of revenue."
"Immigration from 1990 to 2006, at worst, decreased wages for a quarter of Americans by around 3 percent but raised them by over 1 percent for 75 percent of Americans."
"language assimilation proceeds very rapidly in the U.S., driven by the roughly 20 percent increase in wages that immigrants can expect from learning English"
"Immigration from 1990 to 2006, at worst, decreased wages for a quarter of Americans by around 3 percent but raised them by over 1 percent for 75 percent of Americans."
"language assimilation proceeds very rapidly in the U.S., driven by the roughly 20 percent increase in wages that immigrants can expect from learning English"
What Should You Do if You're Threatened by a Mass Murderer? | Cato Institute
What Should You Do if You're Threatened by a Mass Murderer? | Cato Institute: “Of the pre-Columbine rapid mass murders,” he explained, “the average killing time was 11 minutes, (ranging from 2 examples of 4 minutes, to one example of 20 minutes). Among the known times of post-Columbine rapid mass murders, the average time was down to 8 minutes. Now the average killing time is only about 6 minutes.”
"The odds are that an officer won’t be able to stop much if any killing."
"Ron Borsch, with three decades of police experience, has reported many important findings about rapid mass murders. For instance:
Although the overall murder rate declined by about 50 percent since 1980, the annual number of rapid mass murders has nearly quadrupled since Columbine.
A rapid mass murderer’s apparent aim is to kill as many people as possible in a short period of time. Such killers are rarely interested in negotiation.
These killers tend to be cowards, because they generally favor gun-free zones where few, if any people, are likely to resist their attacks with force.
Most common targets: 41 percent of rapid mass murder attempts occur at educational facilities — 31 percent at K-12 schools, 10 percent at colleges and universities, so killers prefer facing little children rather than big guys.
By comparison, 7 percent of rapid mass murder attempts occur at offices, 6 percent at churches, 5 percent at eating places, 5 percent at malls, 4 percent at factories, 4 percent at government offices, 3 percent at hospitals, 2 percent at grocery stores, 2 percent at post offices and 1 percent at bars and night clubs.
62 percent of rapid mass murder attempts are stopped by civilians on-site– not police based off-site.
76 percent of successful civilian attempts to stop rapid mass murder are initiated by one individual.
About two-thirds of civilians who stop a rapid mass murder attempt are unarmed.
38 percent of rapid mass murder attempts are stopped by police.
73 percent of successful police attempts to stop rapid mass murder are initiated by one individual."
"Governments can’t even keep illegal guns out of jails and prisons where government has more direct control over people than anywhere else."
"Survivors are most likely to be those who take initiative, try to protect themselves and fight if necessary."
"The odds are that an officer won’t be able to stop much if any killing."
"Ron Borsch, with three decades of police experience, has reported many important findings about rapid mass murders. For instance:
Although the overall murder rate declined by about 50 percent since 1980, the annual number of rapid mass murders has nearly quadrupled since Columbine.
A rapid mass murderer’s apparent aim is to kill as many people as possible in a short period of time. Such killers are rarely interested in negotiation.
These killers tend to be cowards, because they generally favor gun-free zones where few, if any people, are likely to resist their attacks with force.
Most common targets: 41 percent of rapid mass murder attempts occur at educational facilities — 31 percent at K-12 schools, 10 percent at colleges and universities, so killers prefer facing little children rather than big guys.
By comparison, 7 percent of rapid mass murder attempts occur at offices, 6 percent at churches, 5 percent at eating places, 5 percent at malls, 4 percent at factories, 4 percent at government offices, 3 percent at hospitals, 2 percent at grocery stores, 2 percent at post offices and 1 percent at bars and night clubs.
62 percent of rapid mass murder attempts are stopped by civilians on-site– not police based off-site.
76 percent of successful civilian attempts to stop rapid mass murder are initiated by one individual.
About two-thirds of civilians who stop a rapid mass murder attempt are unarmed.
38 percent of rapid mass murder attempts are stopped by police.
73 percent of successful police attempts to stop rapid mass murder are initiated by one individual."
"Governments can’t even keep illegal guns out of jails and prisons where government has more direct control over people than anywhere else."
"Survivors are most likely to be those who take initiative, try to protect themselves and fight if necessary."
Big Business, War, and Rothbard’s Class Analysis - Justin Raimondo - Mises Daily
Big Business, War, and Rothbard’s Class Analysis - Justin Raimondo - Mises Daily: "the biggest capitalists have been the deadliest enemies of true capitalism. For virtually all of the alleged social “reforms” of the past fifty years were pushed not only by “idealistic” Leftists, but by the very corporate combines caricatured as the top-hatted, pot-bellied “economic royalists” of Wall Street."
Wednesday, September 04, 2013
What Ruined Obama's Credibility? Obamacare | Cato Institute
What Ruined Obama's Credibility? Obamacare | Cato Institute: " 15,000 husbands and wives of UPS workers who are being kicked off their spouse’s policy"
"The University of Virginia also announced that it was dropping spousal coverage for those with access to other insurance. (And even after that measure, Obamacare will be adding $7.3 million to its health-care costs next year.)"
"According to the benefits consulting firm Towers Watson, 12 percent of employer plans will not include spousal coverage next year, three times as many as in 2013."
"Universal Studios recently announced that it was dropping coverage for some part-time workers. Similarly, Wegman’s Supermarkets has eliminated its health-insurance plan for part-time employees.
Meanwhile, in New Jersey at least 106,000 people currently insured under what are known as “basic and essential” health-care plans will likely lose their coverage because those inexpensive plans don’t meet Obamacare’s mandates."
"This has caused Joseph Hansen, president of the 1.2-million-member United Food and Commercial Workers, to warn that Obamacare will “destroy the foundation of the 40-hour work week that is the backbone of the middle class.” "
"The University of Virginia also announced that it was dropping spousal coverage for those with access to other insurance. (And even after that measure, Obamacare will be adding $7.3 million to its health-care costs next year.)"
"According to the benefits consulting firm Towers Watson, 12 percent of employer plans will not include spousal coverage next year, three times as many as in 2013."
"Universal Studios recently announced that it was dropping coverage for some part-time workers. Similarly, Wegman’s Supermarkets has eliminated its health-insurance plan for part-time employees.
Meanwhile, in New Jersey at least 106,000 people currently insured under what are known as “basic and essential” health-care plans will likely lose their coverage because those inexpensive plans don’t meet Obamacare’s mandates."
"This has caused Joseph Hansen, president of the 1.2-million-member United Food and Commercial Workers, to warn that Obamacare will “destroy the foundation of the 40-hour work week that is the backbone of the middle class.” "
The Three Types of Austerity - Frank Hollenbeck - Mises Daily
The Three Types of Austerity - Frank Hollenbeck - Mises Daily: "Of course, “planned” cuts are not actual cuts. Four years after the crash of 2008, the UK government had only implemented 6 percent of planned cuts in spending and only 12 percent of planned cuts in benefits. In almost all European countries, government spending is higher today than it was in 2008. A new study by Constantin Gurdgiev of Trinity College in Dublin examined government spending as a percentage of GDP in 2012 compared with the average level of pre-recession spending (2003–2007). Only Germany, Malta, and Sweden had actually cut spending."
"A more recent example of similar tactics is Latvia which followed a similar strategy in 2009-2010. It cut government spending from 44 percent of GDP to 36 percent. It fired 30 percent of the civil servants, closed half the state agencies, and reduced the average public salary by 26 percent in one year. Government ministers took personal wage cuts of 35 percent, although pensions and social benefits were barely reduced and the flat tax on personal income was left untouched at 25 percent.
The Latvian economy dropped 24 percent in two years, but rebounded sharply in 2011 and 2012 with yearly real growth of over 5 percent. Unemployment hit 20.7 percent in 2010, but has steadily declined to a little over 12 percent today. Because the cuts prompted deregulation, Latvia enjoyed a boom in the creation of new enterprises in 2011. It was able to transition from a bloated construction sector to a vibrant economy of many small- and medium-sized enterprises.
Latvia borrowed heavily from the IMF, and was criticized in 2009 for its overly aggressive economic strategy. Latvia recently repaid its loan to the IMF three years early, indirectly silencing its critics."
"A more recent example of similar tactics is Latvia which followed a similar strategy in 2009-2010. It cut government spending from 44 percent of GDP to 36 percent. It fired 30 percent of the civil servants, closed half the state agencies, and reduced the average public salary by 26 percent in one year. Government ministers took personal wage cuts of 35 percent, although pensions and social benefits were barely reduced and the flat tax on personal income was left untouched at 25 percent.
The Latvian economy dropped 24 percent in two years, but rebounded sharply in 2011 and 2012 with yearly real growth of over 5 percent. Unemployment hit 20.7 percent in 2010, but has steadily declined to a little over 12 percent today. Because the cuts prompted deregulation, Latvia enjoyed a boom in the creation of new enterprises in 2011. It was able to transition from a bloated construction sector to a vibrant economy of many small- and medium-sized enterprises.
Latvia borrowed heavily from the IMF, and was criticized in 2009 for its overly aggressive economic strategy. Latvia recently repaid its loan to the IMF three years early, indirectly silencing its critics."
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