Government

Visa and Mastercard Fostering Credit Card Fraud

Have you ever used your credit card and been asked for ID? Did you know this is against the merchant guidelines that govern Visa and MasterCard? MasterCard even has a simple-to-use form where you can alert them if a merchant required ID.

The policy does not make sense to me, especially since I sign the back of all my cards "photo ID required".


Investment Advisors Forced To Give You The Same Old Tired Advice

The big brokerage houses steer you to the "most common" investment direction. That is, do what everyone else is doing - a kind of collectivism. What you need to know is that they are forced to do this by law. It's called the Prudent Man Rule. Just another regulation to keep folks in wage slavery!

Jim_Cramer_CNBC_Mad_Money


Government Forces Consumer Purchases (Beyond Health Care Legislation)

  • The FCC made us switch to digital cellular networks;  forcing analog users to upgrade.
  • In 2015, you won't be able to buy an incandescent light bulbs; forcing you into more expensive CFL anf LED technology.
  • And we all had to switch to digital tv back in 2009; forcing antenna folks to buy additional equipment!

So the next time any politician says "you can't make consumers buy something" give them my examples and ask them to stand up to tyranny!


Regulations and Paperwork Stifle Small Business Hiring

Big-government According to The Heritage Foundation, Obama imposed 75 major regulations that cost the private sector more than $40 billion in his first two years in office.

The Federal Register is the primary source of regulations for U.S. government agencies.  In 1936, the number of pages in the Federal Register was about 2,600.  Today, the Federal Register is over 80,000 pages long.

The U.S. Food and Drug Administration is projecting that the food service industry will have to spend an additional 14 million hours every single year just to comply with a new federal regulation that mandates that all vending machine operators and chain restaurants must label all products that they sell with a calorie count in a location visible to the consumer.

The state of Louisiana says that monks must be fully licensed as funeral directors and actually convert their monasteries into licensed funeral homes before they will be allowed to sell their handmade wooden caskets.

The city of Philadelphia now requires all bloggers to purchase a $300 business privilege license.  The city even went after one poor woman who had earned only $11 from her blog over the past two years.

In the state of Massachusetts, all children in daycare centers are mandated by state law to brush their teeth after lunch.  In fact, the state even provides the fluoride toothpaste for the children.

If you attempt to give a tour of our nation's capital without a license, you could be put in prison for 90 days.

In Lake Elmo, Minnesota farmers can be fined $1,000 and put in jail for 90 days for selling pumpkins or Christmas trees that are grown outside city limits.

In the state of Texas, it doesn't matter how much formal interior design education you have - only individuals with government licenses may refer to themselves as "interior designers" or use the term "interior design" to describe their work.

The city of Milwaukee, Wisconsin makes it incredibly difficult to go out of business.  In order to close down a business, Milwaukee requires you to purchase an expensive license, you must submit a huge pile of paperwork to the city regarding the inventory you wish to sell off, and you must pay a fee based on the length of your "going out of business sale" plus a two dollar charge for every $1,000 worth of inventory that you are attempting to sell off.


Easy Solution to Health Care Costs

Get insurance out of health care altogether, except for catastrophic, unanticipated injuries. After all, insurance is about managing risk. As Eric Peters pointed out a few weeks back, you wouldn’t have your car insurance pay for routine oil changes, or your homeowners insurance pay for a new coat of exterior paint on your house. The very idea is absurd from an economics perspective, cost-prohibitive, and goes against the very definition and purpose of insurance. So why the HELL is this insanity common practice in the medical and dental field? Having one’s insurance pay for a routine tooth cleaning or simple physical checkup makes no more sense than having insurance pay for a routine oil change or home termite inspection.

The Best Bailout Plan Would Have Been To Rescue Homeowners

How? By simply paying off their mortgages. Since 2/3 of GDP is consumer spending, the savings would have gone to buy products/services. That would have kept the unemployment rate from rising.

Here is what my research shows:

The quarterly survey published by the Federal Reserve, called the Flow of Funds Report, shows the total value of all home mortgages in the U.S. was $11.2 trillion through the third quarter of 2008.

According to a team at Bloomberg News, at one point last year the U.S. had lent, spent or guaranteed as much as $12.8 trillion to rescue the economy.

Here is what they did:

$9 trillion given to 8000 banks.


Welfare Better Than Working in 33 States

Welfare recipients receive food stamps and cash assistance under the federal Temporary Assistance for Needy Families program. Both benefits are accessed through an EBT (elecronic benefit transfer) card, but only cash assistance can be accessed at ATMs.A single-person household could receive a maximum $200 in monthly food stamps plus $158 in cash assistance. A family of four could get as much as $668 in food stamps and $433 in cash.

A Cato study looked at the state-by-state value of welfare for a mother with two children. In the Empire State, a family receiving Temporary Assistance for Needy Families, Medicaid, food stamps, WIC, public housing, utility assistance and free commodities (like milk and cheese) would have a package of benefits worth $38,004, the seventh-highest in the nation.

Is it any wonder, then, that, despite the work requirements included in the 1996 welfare reform, only 27.6 percent of adult welfare recipients in New York are working in unsubsidized jobs?

Welfare is slightly more generous in Connecticut, where benefits are worth $38,761; a person leaving welfare for work would have to earn $21.33 per hour to be better off. And in New Jersey, a worker would have to make $20.89 to beat welfare.

Nationwide, Cato found that the wage-equivalent value of benefits for a mother and two children ranged from a high of $60,590 in Hawaii to a low of $11,150 in Idaho. In 33 states and the District of Columbia, welfare pays more than an $8-an-hour job. In 12 states and DC, the welfare package is more generous than a $15-an-hour job.