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ACC is a failed welfare state experiment, and like all failed welfare state experiments, it can’t be repaired – it needs to be taken out and shot.  Richard McGrath says it better than I could :     “In the wake of catastrophic multi-billion dollar losses, ACC should be put into liquidation, and the accident insurance market privatised,” said Libertarianz leader Richard McGrath.     “Proposed rises in the ACC levy of 50% or more are outrageous. The National Party said before the last
The former CBO director, Douglas Holtz-Eakin, warns today on the effect ObamaCare will have on our economy and health care. These facts should be painfully obvious to those with even one iota of common sense. This bill will lead to a huge middle class tax increase: Remember when health-care reform was supposed to make life better for the middle class? That dream began to unravel this past summer when Congress proposed a bill that failed to include any competition-based reforms that would
In recent years, advocates of paternalistic policies, such as economist Richard Thaler , argue that government-appointed experts should limit the choices available to consumers in order to prevent them from making poor decisions because of ignorance or cognitive bias. After all, they claim, experts are likely to know better than ordinary consumers which products are too risky for us to use. This kind of “new paternalism” (also known as “libertarian paternalism”) has had a lot of influence in th
You lie! Added taxes tacked onto medical services, medical equipment, different levels of insurance coverage, etc. IS passed onto the consumer in higher costs. Commentary Magazine : Taxing Our Patients by Jennifer Rubin As the New York Times reports , there is a jumbo fight brewing among Democrats over just how much they’re going to tax the middle class in the name of health-care reform. Senate Democrats want to tax so-called Cadillac health-care plans to pay for the gargantuan he
There was an article in the New York Post yesterday, The Monster that Ate the Recovery , that ranted how the rise of Internet shopping could destroy jobs and the economy. As consumer spending begins to bounce back, Internet transactions are increasing, albeit modestly, as a percent of overall sales. This hits disproportionately in certain products — books, electronics, music — but every retailers sees at least some migration. While this can be good for the bottom line, it isn’t necessarily g
As the c ity elections get closer, I love the more prepared quotes candidates give to the media. Here is a few from yesterday’s Gargoyle and my analysi s; “On a short-term basis, I think we’re going to see some real financial challenges as we continue to work our way through the economic troubles our country has had,” Peterson said. In the long-term, he said, the city’s next mayor will have to find ways of providing opportunities for current and future residents. Jobs, quality of life, and
From Grandpa My granddaughter, Ashley is a recent college grad. She drives a flashy hybrid car, wears all the latest fashions, and loves to go out to nightclubs and restaurants. Ashley campaigned hard for Barack Obama. After the election she made sure I (and all other Republican family members) received a big I told-you-so earful on how the world is going to be a much better place now that her party is taking over. Having lost both roommates, Ashley recently ran short of cash and cannot pay
Lost in the shuffle of the CBO scoring of Max Baucus’ non-existent bill on the health care overhaul system this week is another analysis by the CBO on tort reform.  According to CBO director Douglas Elmendorf on his blog, the CBO studied the impact of both the reduced cost of litigation and the elimination of defensive medicine that would result with tort reform.  Elmendorf says that tort reform would reduce the federal deficit $54 billion over the next ten years, more than the fee Baucus plans
This articles dwells on investment tools and problems associated with retirement investment. Real Estate Investors Because of the tax advantages associated with depreciation tax shields (which increase cash flow even while the underlying investment may be appreciating in value), real estate investments are very popular among individuals. For instance, Institutional Real Estate, Inc. reported in 1998 that private investors held 46.6% of the $687 billion that had been directly invested into la
by J. Michael Bragg “In general the art of government consists in taking as much money as possible from one class of citizens to give to the other.” - Voltaire When my good friend and colleague Lee Wrights and I began the project that would eventually become Liberty For All , the number one gripe I had about government was the issue of taxation. Simply put - I DESPISE paying them. Now I know I am not alone in this hatred, as I am sure many of you likewise abhor this voracious system o
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