Posted 8/12/10 to 8/21/10 (Ignore the page date above)
Protected From UglyRipe Tomatoes
08/21/10 - 02/24/05 Mises.org by Gary Galles
[edited] UglyRipe tomatoes come from 10 years of work by Joe Procacci. Customers say they have the luscious taste they remember from the good old days. Few UglyRipe meet the FTC’s standard of beauty for selling out of state, because they fail the roundness standards.
This is the latest in a long line of rip-offs in the name of consumer protection, enforced by government empowered marketing boards. Marketing boards trace from New Deal legislation to “save” agriculture.
Florida growers of pretty but bland tomatoes dominate America’s winter supply, and they protect their profits at consumer expense. Marketing boards block the sale of “lower quality” tomatoes to restrict competition from newer varieties that consumers might prefer.
AMG: So that's why tomatoes are pretty but tasteless. The government is protecting me from having to think too much about them. This also applies to other fruits and vegetables. tomatoes, marketing orders, marketing boards
08/20/10 - Pajamas Media by Ed Driscol
[edited] In the history of modern-day politics, past presidents have viewed the American public from the perspective of a fellow citizen. But, as one of his Ruling Class boosters notes above, Obama views the American public from the perspective of a research anthropologist. anthropologist, Obama, Chuck Todd
Maximize Tax Revenue - Harm the Economy
08/18/10 - Cato@Liberty by Daniel J. Mitchell
[edited] The goal of tax policy should not be to maximize revenue. At maximum revenue, the damage to the economy is so great that any higher tax rate raises no additional revenue, or even loses revenue.
Martin Feldstein of Harvard: As the tax rate rises, the “deadweight loss” rises, which is the real loss to the economy. As the rate gets close to maximizing revenue, the loss in production exceeds the gain in revenue.
I dislike budget deficits as much as anyone else. But, I would never give up say $1 billion of GDP in order to reduce the deficit by $100 million. National income is a goal in itself; that is our standard of living. Deadweight Loss, Laffer Curve (M)In Nov 1999, Martin S. Feldstein was the George F. Baker Professor of Economics at Harvard University and former President of the US National Bureau of Economic Research. He says more about the deadweight loss from taxes.
[edited] Traditional analyses of the income tax greatly underestimate deadweight losses by ignoring its effect on income and consumption. The full deadweight loss is easily calculated to be as much as 30% of total revenue.
The deadweight loss caused by increasing tax rates above current levels may exceed $2 per $1 of revenue increase.
AMG: Government activities and transfer payments had better be useful to the society, because economic output has already been lowered by 30% of the taxes currently collected. Further, $2 worth of production (jobs) will be destroyed for every additional $1 collected through increased tax rates.
Barney Frank Never Supported Housing Failure
08/18/10 - HotAir by Ed Morrissey
[edited] Barney Frank now can’t understand why government should push home ownership or be involved in mortgages at all. Neil Cavuto on Fox Business interviewed Frank. Frank said that Fannie Mae and Freddie Mac should be abolished rather than reformed.
Frank claims that he has said this all along, but that is not true. Frank chaired the House Financial Services Committee. He played a huge part in creating and maintaining the government interventions that severely distorted the home lending markets. Frank’s actions helped to create and maintain those policies, and he defended them repeatedly over the last twelve years.
Frank also said [edited] "The only question now is what do you put in the place of Fannie and Freddie."
AMG: So, don't think that Frank now supports limited government and free markets. He can't deny the failure of the government's past housing policies. But, he will work hard to craft other government policies to put in their place.
When you fail miserably and expensively, just try, try again. We will all be supporting his new efforts with our taxes, just as we now support the giant losses created by Fannie and Freddie in the past. Barney Frank, Fannie Mae, Housing
Oligopoly is Often Good
08/18/10 - American Enterprise By Nick Schulz
[edited] "Oligopoly" refers to a few large companies dominating the production of some product type. Is that usually bad?
Will Baumol: Many oligopolistic firms use innovation as their way to compete. This is like an arms race in which two countries feel it is necessary to match the other's military spending.
Each company realizes that its existence depends on matching its rival’s efforts and spending on new products. Although they are large and few, these companies will produce a stream of efficiency and innovation. Oligopoly, Competition
Federal vs Private Pay
08/17/10 - Cato Liberty by John Berry
[edited] Defenders of federal pay ignore benefits and other perks of federal employment, including extreme job security. A 2009 private sector employee was more than three times more likely to be laid off or fired. Federal workers receive generous holiday and vacation schedules, flexible work hours, training options, incentive awards, generous disability benefits, and union protections.
Federal workers are 8 times less likely to quit than private sector employees. We argue, they stay put because the combination of wages, benefits and job security is hard to match in the private sector.
Defenders say that comparable private sector pay is better. If so, why don’t more federal employees leave? If they are as highly-skilled and educated as defenders claim, why settle for less than they are worth? Federal Pay
Those Voices Don't Speak For Us
08/16/10 - PowerLine Blog by John Hinderaker
[edited] A video (2:17) by The Republican Study Committee contrasting clips by Ronald Reagan with today's leaders of the Democratic Party.
VP Joseph Biden (1:06): We have to spend more money to keep from going bankrupt.
Rep. Alcee Hastings (0:17): All of this talk about rules. We make 'em up as we go along. Video, Ronald Reagan, Democratic policies
Presidential Abuse of Office
08/16/10 - Pajamas Media by Bob Owens
Darrell Issa (R-CA) in a 37-page report accuses the White House of “an unprecedented number of public relations and propaganda efforts", some illegal.
The Obama Administration frequently used federal agencies to promote the President’s favorite programs, and used the entertainment community to embed propaganda in television programming and artwork.
Obama has used government resources to activate a sophisticated propaganda and lobbying campaign. This is an abuse of office and a betrayal of the pledge to create “an unprecedented level of openness in Government.” Obama, Malfeasance (v)Via Instapundit
Specialists join the EMTALA war
08/12/10 - M.D.O.D
The battle for American medicine is finally joined. The ER is now a place that compels doctors to lose sleep and money. Specialists expose themselves to full malpractice liability for every patient, whether or not they get paid.
The specialists are fed up, and they have figured out how to fight city hall: follow the rules exactly. Emergency Department, ER