Quotulatiousness

July 17, 2012

FATCA “may end up killing more U.S. jobs than all the call centers in India combined”

Filed under: Economics, Government, Law, USA — Tags: , , , , — Nicholas @ 09:52

Matt Welch on the worst bit of legislation for US workers so far:

That’s a line from this commendable Wall Street Journal column by William McGurn about the oft-lamented-around-these-parts Foreign Account Tax Compliant Act of 2010, or FATCA (rimshot). While President Barack Obama keeps hitting presumptive Republican presidential nominee Mitt Romney over offshoring and jobs, one of Obama’s most economically deleterious laws continues inflicting damage largely off the journalistic radar screen.

“Within the United States,” McGurn writes, “almost no American has heard of it. Save for the occasional article, it’s gone largely uncovered. And just like ObamaCare, the nastiest, job-killing aspects will not hit until after this November’s election.”

McGurn points out that FATCA was the revenue-generating side of the Hiring Incentives to Restore Employment Act of 2010 (HIRE! God, I hate these people….) — “a jobs bill dominated by tax breaks designed to get businesses to hire unemployed Americans.” So once again, government is “paying” for the economically dubious and morally spurious act of granting targeted tax breaks to favored corporations by screwing over the middle class.

JourneyQuest S2E2: City of the Dead

Filed under: Gaming, Humour — Tags: — Nicholas @ 09:25

Ending supply management

Filed under: Business, Cancon, Economics, Food, Government — Tags: , , , — Nicholas @ 09:00

In the Globe and Mail Economy Lab, David Bond explores equitable ways to compensate farmers who will lose out if-and-when the federal government abandons the supply management system:

The quota was originally given out for free, therefore farmers or their direct successors still in the business would receive nothing for their original allocation and then 90 per cent of whatever they paid at the time they acquired additional amounts of quota.

Why only 90 per cent? Well having quota allowed the holders to earn returns on their investment well in excess of the returns that could have been earned in alternative forms of farming. Having enjoyed for more than 40 years these superior returns thanks to their ability to persuade government to protect them from competition it’s time they “enjoyed” some of the costs they foisted upon Canadian consumers.

While the potential beneficiaries of this compensation may complain of shoddy treatment they evidenced little sympathy on the costs they passed on to the consumers much less the harmful impact they had on potential exports of other agricultural and non-agricultural exports because government refused to modify supply management during trade negotiations.

The declaration of dependence

Filed under: Liberty, Politics, Quotations, USA — Tags: , — Nicholas @ 08:51

President Obama goes the extra mile to portray every successful person as being just a pawn in the hands of vast, impersonal forces of destiny:

Look, if you’ve been successful, you didn’t get there on your own. You didn’t get there on your own. I’m always struck by people who think, well, it must be because I was just so smart. There are a lot of smart people out there. It must be because I worked harder than everybody else. Let me tell you something — there are a whole bunch of hardworking people out there. (Applause.)

If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business — you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.

The point is, is that when we succeed, we succeed because of our individual initiative, but also because we do things together. There are some things, just like fighting fires, we don’t do on our own. I mean, imagine if everybody had their own fire service. That would be a hard way to organize fighting fires.

The “Leader of the Free World”, folks! Let’s give him a hand! (Applause.)

Elizabeth Warren may have said it first in this election campaign, but nobody will top Barack Obama’s reworking of her theme.

(more…)

How the Nanny State undermines family life for parents and children

Filed under: Britain, Government — Tags: , , , — Nicholas @ 08:13

Jennie Bristow at sp!ked:

… Bailey’s diagnosis of the dangers inherent in eroding parental authority was absolutely spot on. By attempting to ‘nationalise’ childrearing, whether by providing classes to instruct parents in officially approved childrearing methods or by using schools to inculcate children in a heightened awareness of the failings of their mothers and fathers, in recent decades, government parenting policy has stripped parents of their directly authoritative role.

Instead of being the boss of their own homes, parents are situated as mediators in the relationship between the child and the state, and told that their primary responsibility is not to do right by their child but to show that they are doing the right thing according to the current parenting orthodoxy. The effect of this, as Bailey suggested last year, is to disorient both parents and children, as both question the basis for parental authority.

Was this what caused the riots last summer? Not on its own. The behaviour of those young people engaged in the mayhem was profoundly shocking – but so, too, was the response of the adult population, from the middle classes cowering in their living rooms and boasting about that in the press, to the failure of the police to intervene decisively. What underpinned the chaos was the open collapse of adult authority, and this should have provided a wake-up call to our society about the need to grow up and take responsibility for the younger generations.

But the problem of parental authority forms an important part of the generalised crisis of adulthood, and it is worth reflecting on the relationship between the two.

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