My Money vs. Other People’s Money: Consumers Say’No’ to Raises for Wal Mart Staff, Once They Find Out They Have to Pay for it!

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Other people’s money is very powerful thing; it can be stolen by government, wasted, and a small fraction spent on making a problem worse.  Unions can extort if from companies until there are layoffs, or entire industries are relocated or regions suffer (rust belt, anyone?).  Most Americans have no problem spending other people’s money.  But, there is a strange phenomena to report.  When other people’s money turns into MY money, the tune changes, and fast!

Peter Schiff, a big time investor, staged a mock protest; asking people if they are willing to have their money become other people’s money, and pay more for their products in order to increase he pay of Wal Mart workers…

While it’s apparently OK to spend other people’s money, MY money is not on the table, so to speak.

Which, of course, is why force is needed to MAKE other people give up their money.

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Under ObamaCare, You Might Not be Able to Keep Your Medications Either, Because of ObamaCare!

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Remember when Obama said that instead of getting the expensive surgery, granny might have to take the “pain pill” instead?

Well, it’s like she might not even able to get the pain pill.  It seems that ObamaCare might either make a lot of medications that Americans rely upon unavailable, or unaffordable.  Here is a brief excerpt from Forbes…

The President famously promised that you could keep your health plan and doctor. For many people, both of those pledges are turning out to be false. And now, you might not be able to keep your medicine, either.

There are two reasons why. The first has to do with the higher out of pocket costs patients will face. The second issue may be even more significant.

Simply put, many drugs may not be covered at all, and the costs patients incur by buying them with cash won’t count against out of pocket caps. This has repercussions for drug makers with big portfolios of specialty and primary care drugs (more on that later). But most of all, it has implications for patients.

Drugs on your health plan’s formulary will typically have fixed co-pays. These costs usually count toward your deductible and the out of pocket and lifetime limits on the total amount of money that your health plan can ask you to spend.

As the Wall Street Journal recently reported, these co-pays can already be substantial, pushing people quickly to their annual out-of-pocket limits — $6,350 for individuals and $12,700 for families (after which insurers pay the full tab).

People whose annual income is at or below 250% of the Federal Poverty Level will qualify for cost-sharing reductions. (That comes out to families of four earning less than about $60,000, or individuals earning less than $30,000). But people qualify for these cost-sharing subsidies only if they enroll in a higher cost, “silver” Obamacare plan.

Definitely get over there and read the rest.  This is not a topic that can be explained in a short excerpt, it is a two page article.  So get over there.

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Regulatory Overload = Cost Overload = Tyranny By Design

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A big Hat Tip to Doug Ross@Journal for leading me to this article by the Competitive Enterprise Institute. The article,  titled Ten Thousand Commandments 2013, is their annual review of the Federal Regulatory State. Because of its brevity, I’m going reproduce it here with emphasis added by me:

Full Document Available in PDF

The scope of federal government spending and deficits is sobering. Yet the government’s reach extends well beyond the taxes Washington collects and its deficit spending and borrowing. Federal environmental, safety and health, and economic regulations cost hundreds of billions—perhaps trillions—of dollars every year over and above the costs of the official federal outlays that dominate the policy debate.

Highlights of the report:

• Total costs for Americans to comply with federal regulations reached $1.806 trillion in 2012. For the first time, this amounts to more than half of total federal spending. It is more than the GDPs of Canada or Mexico.

• This is the 20th anniversary of Ten Thousand Commandments. In the 20 years of publication, 81,883 final rules have been issued. That’s more than 3,500 per year or about nine per day.

• The Anti-Democracy Index – the ratio of regulations issued to laws passed by Congress and signed by the president – stood at 29 for 2012. That’s 127 new laws and 3,708 new rules – or a new rule every 2 ½ hours.

• Regulatory costs amount to $14,678 per family – 23 percent of the average household income of $63,685 and 30 percent of the expenditure budget of $49,705 and more than receipts from corporate and personal income taxes combined.

• Combined with $3.53 trillion in federal spending, Washington’s share of the economy now reaches 34.4 percent.

Please take a moment and think about the figures that I put in bold. Every time a new law or regulation is written, the federal government has a little bit more control over our lives. As the power of the federal government grows, the opportunities to abuse that power also increase. And, think about the costs. Think of all these laws and regulations as a huge anchor that the private sector economy has to drag along while it tries to grow.

There is a small favor for which we should be grateful. There are so many laws and regulations that the government can not possibly enforce them all uniformly. Imagine if the government agencies like the IRS, the EPA and, OSHA had enough enforcement agents to make every citizen and business to comply with the letter of every regulation. The economy would come to a screeching halt. And so, the laws and regulations are selectively enforced. And, that in itself is a form of tyranny.

So how did we get in this mess? The short answer is that it is the nature of governments to accumulate more and more power. Even in this very special place we call America with our government Of The People, By The People, and For The People where our founders created a constitutional republic that included specific limitations on the power of the federal government, by its very nature it was destined to grow in power. Think about our two house legislature. We call the people we elect Senators and Congressmen. But, there is another name for them: Lawmakers. And so, for about two hundred and forty years our “Lawmakers” have been making laws and every law gives a little more power to the government. The Executive branch of our government is charged with the responsibility of enforcing the laws passed by the Legislative branch. But, before the Executive branch can enforce the laws of Congress, it, through its bureaucracy, must first write enabling laws and/or regulations before it can carry out the wishes of Congress. And, We The People have been complicit in this growth of government. Every time something bad happens somewhere I cringe when someone invariably reacts by saying THERE OUGHT TO BE A LAW! That’s true, isn’t it?

The insanity in the asylum will just keep getting more insane.

Well. that’s what I’m thinking. What are your thoughts?

Original Post:  Asylum Watch

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Obama’s Second Term EPA to Destroy Coal Industry

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Apparently, the Obama Administration is holding back on announcing new regulations, especially from the EPA.  It would seem that the Administration does not want prospective voters knowing what the EPA will be up to.  However, Freedom Works has some relevant information…

First, an October report from Republican Sen. James Inhofe indicated that the EPA specifically “punted” on numerous regulations in an attempt to “earn votes” for a second term.  

Then, the administration illegally failed to meet a deadline for releasing regulatory plans for the coming year, a move which prompted Inhofe to release the following statement:

“President Obama is refusing to comply with the law that requires him to publish forthcoming regulations because he doesn’t want the American public to know the terrible cost of the regulatory barrage he plans to unleash in a second term.”

The actual cutback in October regulations and subsequent plans in November bear this out.  We’ve seen an unprecedented number of ‘economically significant’ regulations being approved by the Obama administration last month.  Reports indicate that there were only 4 regulations approved during October, while Obama has averaged over 40 such regulations on average over his term.

Inhofe warns that 2013 will be much different – wide-sweeping regulations will be coming from the White House … after the election.  And it won’t be a pretty scene for the jobs scene in coal country:

The Oklahoma senator and ranking Republican on the chamber’s Committee on Environment and Public Works has released a report stating that when the agency approves the roughly one dozen regulations next year in 2013, they will “spell doom” for jobs and economic growth… ‘These rules taken together will inevitably result in the elimination of millions of American jobs, drive up the price of gas at the pump even more, impose construction bans on local communities and essentially shut down American oil, natural gas and coal production.’”

New EPA regulations will facilitate the closing of up to 69,000 megawatts of coal-fueled electric generation, and will sever up to 887,000 jobs per year. Worse according to the report, peak years could see job losses anywhere between 700,000 and a staggering 2.2 million.

That’s what Obama promised.  He promised to bankrupt coal, and the new regulations, that won’t be released unless/until Obama wins will do exactly that.  But, how many people working in the emergy/coal sector will go out and vote for the man who will put them out of work?

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