Economics

Another Warning Sign – NY Times Columnist Favors Capital Controls

"Krugman doesn't see irresponsible government spending and the resulting debt as the core cause of recent crises in Europe and around the world. Instead, he blames inflows of money by undefined foreigners. He even says that the US, too, is victimized by inflows of foreign money when he claims, 'It's not just Europe. In the last decade America, too, experienced a huge housing bubble fed by foreign money.' According to Krugman, it's not the fault of the Federal Reserve's artificially low interest rates for blowing up the housing bubble, nor the proliferate spending habits of European welfare states for causing the debt crisis." Continue reading →

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The Laffer Curve Bites Ireland in the Butt

"All over the world, governments impose draconian taxes on tobacco, and then they wind up surprised that projected revenues don’t materialize. We’ve seen this in Bulgaria and Romania, and in Washington, DC, and Michigan. Even the Government Accountability Office has found big Laffer Curve effects from tobacco taxation. And now we’re seeing the same result in Ireland. I have to laugh at the part of the article that says, 'receipts are falling dramatically short of targets, even though taxes have increased.' This is what’s called the Fox Butterfield effect, when a leftist expresses puzzlement about something that’s actually common sense." Continue reading →

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Obamacare will hurt young people most

"Younger, healthier people, many of whom voted for Mr. Obama in droves, will see their insurance premiums climb sharply as Obamacare demands that insurers provide them with more medical coverage than they want or need. Older Americans and retirees already are seeing a steep rise in their insurance bills, too. Businesses great and small are either curtailing their employee health care plans or dropping them entirely in anticipation of rising costs. Many seniors who have supplemental policy plans — which cover 20 percent of the medical bills that Medicare does not — have seen their premiums rise this year." Continue reading →

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How to run a cash-only practice and thrive [2010]

"Forrest's practice, which he named Access Healthcare, is cash-only. He does not accept insurance or Medicare and won't file reimbursement paperwork for patients. He sees, at most, 16 patients a day and goes home by 5 p.m. His minimum annual income nearly doubles that of a typical family physician in his region, according to Medical Economics 2009 compensation survey. His estimated net pre-tax income is between $270,000 and $495,000 a year and he doesn't require patients to pay a 'concierge' or membership fee to establish at his practice." Continue reading →

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50 Signs That The U.S. Health Care System Is A Gigantic Money Making Scam That Is About To Collapse

"In the United States today, the health care industry is completely dominated by government bureaucrats, health insurance companies and pharmaceutical corporations. The pharmaceutical corporations spend billions of dollars to convince all of us to become dependent on their legal drugs, the health insurance companies make billions of dollars by providing as little health care as possible, and they both spend millions of dollars to make sure that our politicians in Washington D.C. keep the gravy train rolling. Meanwhile, large numbers of doctors are going broke and patients are not getting the care that they need." Continue reading →

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Another Warning About Switching Your Healthcare Plan

"Those that have money will be paying not only for their own coverage, but will be paying for those with lower-than-average incomes, as well as for the new new automatically included coverages (e.g. maternity) that must be covered in the new mandated plans, all relating to younger folks (which is why income, rather than age, will now be the deciding factor in the cost of health plans) . Worse, those without health plans will be charged a percentage of income (going up each year) for NOT having a qualified plan! Speak with professionals before considering making any changes if you have been on a continuous plan since 3/2010." Continue reading →

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What’s the Difference Between Romneycare and Obamacare?

"That’s a trick question, of course, as illustrated by this biting Henry Payne cartoon. But let’s look at one of the commonalities of Romneycare and Obamacare – higher premiums, thanks to mandates and third-party payer. Here’s a quick look at what’s been happening to premiums in Massachusetts. The same thing is already happening with Obamacare." Continue reading →

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Mounting Evidence: Obamacare Insurance Plans Will Be Bare Bones — and Expensive

"Health plans [...] health plans want to reduce uncertainty around how all the risk-sharing provisions in Obamacare will eventually play out. The legislation puts in place mechanisms that forces Washington to share with health plans some of the cost of the covering the sickest beneficiaries. But the regulations outlining these parameters were only released last Friday. Nobody yet trusts how they'll work.To mitigate uncertainty, plans will price their products high. Insurers know that any excess profits they earn will have to be paid back to the government, anyway. Health plans are better off aiming high, and owing money back, then getting underwater." Continue reading →

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Obamacare Hammers Upper Middle Class in California: 30% Premium Hikes

"If you are a lower income person in California, your ship has come in. If you make over $70,000, your ship has pulled out. You are about to be run over by a freight train. How many people are in each camp? The losers number 1.3 million. The winners are 3.6 million. This is democracy. 'Thou shalt not steal, except by majority vote.' If you are not married, and make over $46,000 a year, you’re toast. If your family income is above $94,000, you’re toast. If you have insurance from your employer, you survive. Your employers may decide to fire you. You just got way more expensive. Do the words 'independent contractor' sound familiar?" Continue reading →

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Why Obamacare Will Result in a Decline in Cash Wages

"The least-skilled workers are seeing their wages fall over time, largely because they are out of work and failing to acquire the skills that come with working. Moreover, the new health care regulations going into effect in January are expected to reduce cash wages, as many employers of low-skill workers are hit with per-employee fines of about $3,000 per employee per year, as the law mandates new fringe benefits for other employers and low-skill workers have to compete with others for the part-time jobs that are a popular loophole in the new legislation." Continue reading →

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