Category Archives: markets

A Thought on Net Neutrality

Posted on by
Reply

…as conceived in secret by FCC Chairman Tom Wheeler.

The image below, from the AP via USA Today, is…illustrative. The outage about which the article was written was clearly the result of vandalism. Read carefully, those signs taped to the window in the image.NetNeutrality

Think about them. Think about what happens when Government controls the Internet. The concerns presently center of free speech, and those concerns are of extreme importance. But the same control gives Government control over what businesses will be allowed to operate on the Internet, and at what cost—unique, perhaps, to a company of which Government disapproves.

One More Nail

Posted on by
Reply

…in what should be Obamacare’s coffin. Even if repeal will take some years and a Republican President.

More than half of tax filers who received subsidies for health insurance premiums may owe hundreds of dollars because they got tax credits that were too large, complicating an already messy tax season that has seen about 800,000 incorrect tax statements sent to consumers who obtained coverage via the federal HealthCare.gov exchange.

Almost six weeks into tax filing season, 52% of people who enrolled in insurance through state or federal exchanges are finding they must pay back a portion of their tax credits, according to a report Tuesday by tax preparation firm H&R Block Inc. and based on their clients. The average amount paid back is $530….

This isn’t even a sort-of funny parody, anymore.

The Judicial Branch and the Law

Posted on by
Reply

In a couple of weeks, the Supreme Court will hear a case involving Federal subsidies to health coverage purchasers who bought their plans on ObamaMart instead of State exchanges. The Obamacare law limits those subsidies to purchasers via State exchanges argue the plaintiffs; the government demurs.

Some ACA critics fear the Supreme Court may hesitate to block the current subsidies because of a lack of confidence in the legislative branch in general.

Against that backdrop, Supreme Court Justice Ruth Bader Ginsburg has said

The current Congress is not equipped really to do anything[.]

That claim is the pseudo-logic President Barack Obama uses to justify his Executive Orders and “executive actions” that deliberately bypass Congress, and unconstitutionally so.

Justice Ginsburg, and others of like mind on the Supreme Court, may be entirely right on Congress’ ability—or willingness—to act. However, she, and they, would do well to remember that the Constitution they’re sworn to uphold does not authorize the Court to legislate in place of, or in addition to, Congress.

Justice Ginsburg and her fellows would do well to remember that the judiciary’s task is first to determine whether a law comports with the Constitution as the Constitution is written, and if it’s legitimate, to apply that law as that law is written.

Full stop.

Corporate Dishonesty

Posted on by
Reply

I received in today’s snailmail a document postmarked Sacramento, CA, Permit No 1827. In bold, black print, the envelope carrying this document had the following notice:

WARNING: $2000 FINE, 5 YEARS IMPRISONMENT, OR BOTH FOR ANY PERSON INTERFERING OR OBSTRUCTING DELIVERY OF THIS LETTER.

Who sent me this very important document? Who knows? The originator was so ashamed of himself and/or what he had to say to me that he declined to put his address, much less his name, on the envelope.

I opened it.

It turns out it’s from some crowd calling themselves 1st Nationwide Mortgage, and the document was signature-stamped by someone claiming to represent Chris Arco, Senior Vice President, First Nationwide Mortgage.

If this crowd is so dishonest it puts misleading threats of dire consequences on the outside of its envelope, and/or if it’s so cowardly it won’t put its name and return address on the outside, then on what basis can any of us take it seriously?

I put its trash into the recycling bin for pick up next week. Yeah, we recycle in Texas, just like they do in California. Only we recycle our trash to our own facilities, we don’t mail it out of state.

Who’d-a Thunk?

Posted on by
1

According to President Barack Obama’s Department of Education, his student loan forgiveness program already is experiencing cost overruns to the tune of nearly $22 billion. Obama’s 2010 PAYE expansion at the time was projected to add $9 billion to the taxpayers’ bill for students not repaying their debt. As the DoE put it,

The 2015 amount includes a net upward reestimate of $21.8 billion, primarily related to revised interest rates and increased participation in income-driven repayment plans.

Or, in the words of James Schneider, who wrote the article at the second link,

[S]welling enrollment due to looser loan rules is driving up costs….

Or, Romina Boccia, of the Heritage Foundation:

They didn’t account for the market risk in making these loans[.]

Or, Steve Ellis, of Taxpayers for Common Sense:

…hard to see how this is going to come out as a net positive as the administration predicts[.]

Or, Lindsey Burke, also with the Heritage Foundation:

Somebody pays for that loan forgiveness. And that is the three-quarters of Americans who don’t have bachelor’s degrees themselves.

Now, how does that work, exactly? Who could have expected such an outcome? Apparently everyone in the Universe except Democrats.