MONEY: Expect more intrusions and less roi

Sunday, June 21, 2009

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5526129/Lloyds-Bank-hit-by-Obama-tax-purge.html

Lloyds Bank hit by Obama tax purge
Banking group drops American customers in UK ahead of costly proposals to stamp out tax evasion
By Louise Armitstead
Published: 9:39PM BST 13 Jun 2009

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This week American private client account-holders at Lloyds’s received letters informing them of an “important change in policy regarding clients who are resident, domiciled or linked to the United States by property or asset holdings”. They were told the bank had “no choice” but to “cease acting as your investment manager.”

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Funny, here comes the unintended consequences!

It will be just the first.

More forms, more intrusive checking, more audits.

Argh!

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GOVEROTRAGEOUS: Fixing health care

Sunday, June 21, 2009

http://mises.org/freemarket_detail.aspx?control=279

April 1993
Volume 11, Number 4
A Four-Step Health-Care Solution
by Hans-Hermann Hoppe

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It’s true that the U.S. health care system is a mess, but this demonstrates not market but government failure. To cure the problem requires not different or more government regulations and bureaucracies, as self-serving politicians want us to believe, but the elimination of all existing government controls.

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Summary:

1. Eliminate all licensing requirements

2. Eliminate all government restrictions on pharmaceutical products and medical devices

3. Deregulate the health insurance industry

4. Eliminate all subsidies to the sick or unhealthy

Permit me to add a fifth!

5. Make the tax code neutral with respect to benefits. Emerging form the WW2 wage and price controls, the gooferment has distorted the “playing field”. “Benefits” are deductible to the corporation and not to the individual. That has set up the situation where an individual’s health insurance is tied to their job. No job; no insurance.

How much better would things be if it was like life insurance or automobile insurance. I can buy 20 year term life cheap and no one cares who my employer is. I am required by the gooferment to have auto insurance (an absurd concept), but it’s not tied to my employment.

This seems to be an easy one.

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Posted by reinkefj