Category: moral hazard

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Accountability folly free trade & free markets general freedom moral hazard national politics & policies responsibility tax policy too much government

Billionaire Theater

Bill Gates, taxes, tax, government, entrepreneurs, responsibility

“I need to pay higher taxes,” Bill Gates told CNN’s Fareed Zakaria on Sunday.

He was making a case against Republican tax cuts, but his actual argument? Insignificant. It’s just another unlearned, narrow-​perspective “growing inequality” farrago. But his conclusion intrigues … as a man-​bites-​dog story, because people have this goofy idea that rich people are somehow against government and for reduced taxes. 

They aren’t. Not even most of the richest.

“I’ve paid more taxes, over $10 billion, than anyone else,” says the man worth $90 billion, “but the government should require the people in my position to pay significantly higher taxes.”

Why? To spend his money better than he could? 

Were all the wealth of America’s billionaires confiscated whole and that sum would actually pay off the federal debt (which I doubt), what do you think Washington politicians would do? Go on the straight and narrow and never over-​spend again?

No. Politicians would take the new influx of funds as a signal to go on an even bigger spending binge.

But what about his mere income tax increase notion? What then? As sure as the Blue Screen of Death it would be applied down to millionaires, too. And then rates for less-​than-​millionaires would likely go up. We have a history with this. And what would that do?

It would hit up-​and-​coming entrepreneurs the hardest. It would nip Bill Gates’s company’s competition in the bud. 

But surely Gates wouldn’t be mercenary in his theatrical play for media adoration, would he? 

Not Saint Bill!

This is Common Sense. I’m Paul Jacob.

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Accountability crime and punishment general freedom government transparency moral hazard national politics & policies privacy property rights too much government U.S. Constitution

Thwarting Cops Who Are Robbers

asset forfeiture, corruption, police, traffic, theft, robbery, traffic stop

“Carrying cash is not a crime,” Institute for Justice attorney Dan Alban informs us, “yet too often the government treats it like one.”

Musician Phil Parhamovich learned that the hard way. He was porting his life savings, almost $92,000 — earmarked for a down payment on a recording studio — when cop-​robbers of the Wyoming Highway Patrol stopped him for not wearing a seat belt.

It turned out to be an extremely expensive infraction. The officers intimated that it was illegal to travel with so much cash and pressured him to hand it over. Scared and believing that his alternative was jail, Phil signed a preprinted waiver letting them grab his life savings.

Preprinted waiver? This means it’s routine for these guys to try to legitimate their actions as they premeditatedly intimidate and rob people.

The state of Wyoming tried to keep the money. Fortunately, the Institute for Justice took Phil’s case, and a judge accepted the facts presented by Phil and his IJ lawyer. After months of tribulation and suspense, the robbery victim got his money back.

Another win for the good guys.

Thankfully, the Institute for Justice’s freedom-​defenders have won a great number of such cases. Yet, IJ lawyers certainly cannot litigate all the forfeiture injustices being committed by government  authorities all across the country.

That’s why the group is pushing to reform civil asset forfeiture laws, requiring a criminal conviction before property can be forfeited. 

And you can help. How? Launch efforts in your town or state, or work to push infant efforts to a higher level. Take the initiative. 

This is Common Sense. I’m Paul Jacob.

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Accountability crime and punishment general freedom ideological culture media and media people moral hazard nannyism national politics & policies responsibility Second Amendment rights too much government U.S. Constitution

Killer Inlaudabilis

Florida, school, shooter, shooting, mass killing, name, guns, gun control

On the day that Alexander the Great was born, or so the ancients tell us, a man named Herostratus burned down one of the Seven Wonders of the World, the Temple of Artemis at Ephesus.

Why? Just for the infamy. 

Which is why the Ephesians proscribed mention of the man’s name. That is called a damnatio.* Obviously, that damnatio didn’t stick, for we know his name now. How? Historian Theopompus recorded it for our … edification? Vilification?

I say we should follow Ephesian example and not mention by name the recent Florida school shooter/​murderer of students. There should be a widespread damnatio in the press and blogosphere against the young man. Let’s not to give him his infamy, and not encourage copycats — nor in any way normalize his horrible act.

Is this a “solution” to the problem of school shootings? Probably not. But there may be none — at least nothing sure-fire. 

Yes, a non-​blundering FBI might’ve helped.** But virtue-​signaling/​grandstanding calls for unnamed gun control measures won’t. And treating “mental health” issues more “professionally,” particularly by easing up involuntary commitment law, is probably a recipe for putting away innocent and unpopular people. 

“Pre-​crime” is itself criminal.

So, what to do? Maybe it is this: “Notice those around you who seem isolated, and engage them,” as Robert Myers advises. It is loneliness, he argues, that “causes these shooters to lash out. People with solid connections to other people don’t indiscriminately fire guns at strangers.”

But that’s not an after-​the-​fact solution.

This is Common Sense. I’m Paul Jacob.

 

* FYI, the arsonist’s status as an unspeakable person was called inlaudabilis.

** As if to fit an established pattern, the FBI failed to take seriously enough an early citizen-​initiated alert regarding the young man who went on to commit the mass shooting. Prophecy is a tough biz; it is no doubt easier to connect the dots looking back after the fact.

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Accountability folly general freedom government transparency ideological culture media and media people moral hazard nannyism national politics & policies too much government

Threat Assessment

Tide Pod, foolish, foolhardy, Atlantic, Jonathan Rauch, Benjamin Wittes, vote, voting, Republican, Democrat, threat, GOP

Don’t drink transmission fluid. Or perform a swan dive off the Empire State Building. Or munch on a Tide Pod.

Be cautious, in other words, of the advice offered in “Boycott the Republican Party,” the Atlantic opinion piece authored by Jonathan Rauch and Benjamin Wittes, both scholars at the Brookings Institution. Their erudite suggestion? Conservatives should “vote mindlessly and mechanically against Republicans at every opportunity, until the party either rights itself or implodes (very preferably the former).”

My Sunday column at Townhall​.com, “Friendly Suicide Advice for the GOP,” reviewed their proposal and analysis. “[H]orrified” by President Trump, they see congressional Republicans as enablers of his “existential” threat “to American democracy.”

Big government has long frightened me, so I’m certainly not suggesting anyone relax just now. I do wonder, however, why these writers and others in the media have been so blasé to past presidential usurpations (noted in the column) with life-​and-​death implications.

Rauch and Wittes go so far as to reassuringly explain that “the Democratic Party is not a threat to our democratic order.”

Really?

In 2016, every single Democratic Party U.S. Senator voted to partially repeal the First Amendment of the Constitution. The Democrats’ proposal would have largely ended the prohibition that “Congress shall make no law … abridging the freedom of speech,” replacing it with “Congress and the States may regulate and set reasonable limits on the raising and spending of money by candidates and others to influence elections.”

In our present “democratic order,” the Constitution recognizes the primary importance of walling off political speech from regulation by these very politicians. The Democrats seek to repeal that order … that freedom … that criticism.

This is Common Sense. I’m Paul Jacob.

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crime and punishment folly general freedom local leaders moral hazard nannyism privacy responsibility too much government

The Winds of Regulation

occupational, licensing, permission, unions, protectionism, regulation, license, law

Among the many goofy occupational licensing laws in these United States, Arizona’s licensing for professional blow-​drying services is up there with the silliest. 

“Under current law, using a blow-​dryer on someone else’s hair, for money, requires more than 1,000 hours of training and an expensive state-​issued license,” we learn at Reason. “Blow-​drying hair without a license could — incredibly — land you in jail for up to six months.”

This came into the news because of a campaign to deregulate the cosmetology industry — just a bit, anyway. Gov. Doug Ducey, in his recent State of the State address, “mocked the state agency that licenses stylists, barbers, nail technicians and affiliated professionals in Arizona, and endorsed legislation to remove training requirements for those who simply wash, brush and blow-​dry customers’ hair.”

Licensed cosmetologists — well, at least some organized ones — have gone into a tizzy.

Hardly surprising, since occupational licensing, though usually argued for on consumer safety grounds, rarely finds consumers clamoring for it. 

It’s groups of established businesses, professionals.*

Brandy Wells, the sole non-​cosmetologist on the state board overseeing the regulation of the industry, supports the liberalizing bill. So of course she has been called every name in the book. But even she was amused by one stylish denigration: “your logic on deregulation of cosmetology is much like your hair, dull and flat.”

The issue may seem trivial, with not all that much on the line — though jobs are … and freedom is. 

But it doesn’t lack for hot air.

This is Common Sense. I’m Paul Jacob.

 

* As Adam Smith argued, whenever businessmen (“dealers”) in the same industry group together, their proposals should be listened to “with great precaution.”

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Accountability government transparency insider corruption moral hazard national politics & policies term limits too much government

Captured Congress

House Oversight Committee, lobby, lobbyist, bribes, control, congress, corruption, puppet

“Do you think party leaders exert too much control over members of Congress and over the agenda,” Full Measure host Sharyl Attkisson asked retiring Rep. Darrell Issa, “in a way that might be motivated by donations and corporate influence and special interests?”

Winner of five Emmys, as well as the 2012 Edward R. Murrow Award for Excellence in Video Investigative Reporting, Attkisson’s “exit interview” with Congressman Issa (R‑Calif.) is illuminating.

“It happens every day,” he replied, “that a lobbyist calls the majority leader, the minority leader, the speaker, and some chairmen or ranking member gets a call saying, ‘hey go light on that.’”

Issa pointed out that the committee chairs “really don’t control the committees. More and more it’s controlled out of the speaker’s office and out of the minority leader’s office. You know, they pick who gets the committees and then they pick really what you get to do.”

And it’s getting worse, he said. 

As chairman of the House Oversight Committee, Issa has led a number of very high-​profile investigations. His investigation of Countrywide, Attkisson noted, “revealed that federal public officials and their staffers, both Democrats and Republicans, had quietly received lucrative VIP loans from Countrywide as the company sought to influence their decisions.”

“It was much more effective than political giving,” Issa offered.

He also accused Republican leaders of removing the Benghazi investigation from his committee to a select committee to “keep it from going too far.”

“I have seen the defense-​related committees that take money from defense contractors go easy on defense oversight,” Attkisson explained, prompting the congressman to agree “that happens every day here.”

Between the party bosses and the special interests, our Congress has been captured.

This is Common Sense. I’m Paul Jacob.

N. B. Full Measure is broadcast every Sunday on 162 Sinclair Broadcast Group stations reaching 43 million households in 79 media markets. 

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