One of the myths that always needs bursting is that Big Business hates big government’ regulations, and supposedly prefers small-government Republicans to keep Uncle Sam off its back.
In reality, Big Business loves Big Government because mega-corporations can use their lobbying clout to get subsidies for themselves and regulatory burdens on their rivals.
But it is a basic reality that heavy regulations hurt smaller companies more, even when they are, in theory, applied evenly. Big companies can absorb expenses and compliance costs more easily, they tend to be more adaptable, and they can afford the analytical firepower to find profit opportunities hidden in complex regulatory mazes.
The latest demonstration of the principle is ObamaCare, which is absolutely devastating small insurance companies, and driving those fabled insurance co-ops out of business like lemmings marching off the edge of a cliff… but the biggest of the big players are doing fine.
In fact, as The Economist notes, even though the biggest of the big five companies, UnitedHealthcare, is having serious second thoughts about losing money on the Affordable Care Act exchanges, the share prices of those top five companies – also including Aetna, Humana, Cigna, and Anthem – “have all roughly tripled over the past five years,” as these companies have remained “consistently and highly profitable.” All of them are expected to report record profits over the next few years.
Middle class Americans are now outnumbered by those above and below them and are “falling behind financially”, according to new analysis of government data by the Pew Research Center.
The beginning of 2015 saw 120.8 million adults living in middle-income homes, compared with 121.3 million Americans living in lower and upper income households, a significant shift that “could signal a tipping point.”
According to Pew’s report, the 21st century has seen “middle-income Americans” fall behind financially. The median income of middle income households fell by 4 percent between the year 2000 and 2014, while median wealth – assets minus debts – fell by 28 percent between 2001 and 2013.
In 2015, 9 percent of Americans were seen as being in the highest income tier, “more than double the 4 percent share in 1971.” The percentage of American adults in the lowest income tier has also risen, from 16 percent in 1971 to 20 percent in 2015.
In 2015 12 percent of adults were living in the upper middle tier, up from 10 percent in 1971. Nine percent were seen as being in the lower middle tier, unchanged from 1971.
News Corp CEO Rupert Murdoch, in a discursive speech Monday evening, blasted Secretary of State John Kerry and attacked the left for creating an “identity crisis” that he charged has undermined American strength and fostered terrorism around the world.
And he drew a connection between U.S. foreign policy and domestic culture, arguing that “in recent years, there has been far too much institutionalization of grievance and victimhood.”
The Australian-born media mogul, a naturalized U.S. citizen, also touched on the Republican presidential primary, which he said “has articulated a deep distaste for the slow descent of our country.”
“Before delivering my modest message,” Murdoch joked at the outset of his address accepting the Hudson Institute’s Global Leadership Award, “I feel obliged to alert college students, progressive academics and all other deeply sensitive souls that these words may contain phrases and ideas that challenge your prejudices — in other words, I formally declare this room an ‘unsafe space.’”
After a few words of praise for former Secretary of State Henry Kissinger, who had just introduced him to the hawkish think-tank crowd, Murdoch quickly pivoted to a sweeping indictment of U.S. foreign policy under Barack Obama, though he did not mention the president by name.
“For a U.S. secretary of state to suggest that Islamic terrorists had a ‘rationale’ in slaughtering journalists is one of the low points of recent Western diplomacy and it is indicative of a serious malaise,” Murdoch said, referring to Kerry’s recent mangled attempt to draw a distinction between the assault on the French satirical magazine Charlie Hebdo and the more recent Paris attacks. “For America to be embarrassed by its exceptionalism is itself exceptional and absolutely unacceptable.” (Kerry quickly walked back those comments, remarking the next day that “such atrocities can never be rationalized, and we can never allow them to be rationalized.”)
WASHINGTON (AP) — No IRS official would face criminal charges arising from the political controversy over the processing of applications for tax-exempt status, the Justice Department announced Friday.
In a letter to members of Congress, the department said that while investigators had found “mismanagement, poor judgment and institutional inertia,” there was no evidence of a crime.
“We found no evidence that any IRS official acted based on political, discriminatory, corrupt or other inappropriate motives that would support a criminal prosecution,” the letter stated.
The department also announced that Lois Lerner, who headed the division that processes applications for tax-exempt status at the time, would not face any charges.
“This administration views the Internet as a threat.” Senator Ted Cruz
Oct. 19, 2015 9:57pm Oliver Darcy
Ted Cruz said Sunday evening that the “threats to Internet freedom” have “never been greater” and could have the potential of affecting independent online news outlets like the Drudge Report.
Speaking to TheBlaze Sunday evening in Dallas, Texas, the Republican presidential candidate respondedto reports that Congressional review of digital copyright law could threaten aggregator news websites.
“I think threats to Internet freedom continue growing,” Cruz said. “This administration views the Internet as a threat.”
Average pay and benefits $52,688 higher than non-gov’t employees
BY: Elizabeth Harrington
October 8, 2015 2:45 pm
Employees for the federal government earn far more than their counterparts in the private sector, according to a new study by the Cato Institute.
Federal workers’ pay and benefits were 78 percent higher than private employees, who earned an average of $52,688 less than public sector workers last year.
The study found that federal government workers earned an average of $84,153 in 2014, compared to the private sector’s average of $56,350. Cato based its findings on figures from the U.S. Bureau of Economic Analysis (BEA).
But when adding in benefits pay for federal workers, the difference becomes more dramatic. Federal employees made $119,934 in total compensation last year, while private sector workers earned $67,246, a difference of over $52,000, or 78 percent.
FPANJ Women’s Group: Health Care Crisis is a Matter of Bureaucracy
Dr. Alieta Eck, founder of Zarephath Health Care Free Clinic and 2014 Congressional Candidate, tells FPANJ Women that taking government out of health care is key to lower costs
Upper Montclair, NJ – October 2015 – Financial Planning Association of New Jersey(FPANJ) has launched a Women’s Group and their inaugural event touched on a hot-button topic: health care costs and the Affordable Care Act.
The group invited Dr. Alieta Eck, M.D., to speak on “How Women Can Solve the Health Care Crisis” last week and her message was well-received among the financial professionals.
“Dr. Eck’s message of reducing costs resonated with our group, especially because we are always working with clients to manage their money, and recent changes in the health care system have proved challenging for many,” Trish Scott, Chairman of the Women’s Group said. “She shared a vision of positive change for the health care in the near future that was enthusiastically received.”
Dr. Alieta Eck pictured front row, second from left, with FPANJ Women’s Group Members and Nick Scheibner, FPANJ PR Chair.
Startling to most in attendance were the statistics comparing the rise in health administrators (more that 3500 percent) to doctors (approximately 100 percent) since 1970. It’s this addition to the health care bureaucracy that Dr. Eck points to for making affordable health care inaffordable for many patients.
“If you have a single mother who has to pay $268 per month for a premium, that’s a lot of money,” Dr. Eck explained. “But if you add a medical problem to that mix, most bronze plans require a $6000 deductible, which skyrockets those costs.”
She also explained that the measures of a good doctor between patients and bureaucracies are vastly different, much to the detriment of the patient-doctor relationship, saying, “Patients measure a doctor on their experience, how well they listen, how much they care. Bureaucracies focus on things like ‘clinical quality metrics,’ and maintenance of certification. In the end they view a good doctor as one who earns and spends less so the bureaucracy can earn more.”
Dr. Eck and husband Dr. John Eck founded the Zarephath Health Center, a free clinic for the poor and uninsured that currently cares for 300-400 patients per month utilizing the services of volunteer physicians and nurses. She explained they spend $13 per patient because of the volunteer staff, and is working with New Jersey lawmakers to pass theVolunteer Medical Professional Health Care Act in the Senate. The bill provides malpractice protection for doctors in their private practice if they volunteer four hours every week at a non-governmental free clinic such as Zarephath.
She contrasted these costs with the $13 billion Medicaid costs for New Jersey, which is approximately one-third of the state’s budget.
Dr. Eck explained the new law could also provide a way to “Help the poor without fleecing the public” with the cost of bureaucracy. The bill is co-sponsored by
Sen. Robert Singer, District 30; and Sen. Brian P. Stack, District 33.
More about Dr. Alieta Eck:
Dr. Eck’s topic “How Women Can Solve the Health Care Crisis,” stems from her interest in health care for the poor and her advocacy against the Affordable Health Care Act, testifying in opposition in 2011 at a U.S. Senate subcommittee hearing. She has campaigned twice for public office: first as a Republican nominee for U.S. Senate in 2013, and again in 2014 to fill the temporary seat in New Jersey’s 12th District. These bids were unsuccessful, but she continues to be active in advocacy.
The Office of Personnel Management announced Wednesday that 5.6 million people are now estimated to have had their fingerprint information stolen.
That number was originally thought to be about 1.1 million, OPM said in a statement. About 21.5 million individuals had their Social Security Numbers and other sensitive information affected by the hack.
According to OPM, “federal experts believe that, as of now, the ability to misuse fingerprint data is limited.” The office acknowledged, however, that future technologies could take advantage of this information.
Any child under the age of 8 years old and a height of 57 inches shall be secured as follows in the rear seat of a motor vehicle:
a. A child under the age of 2 years and 30 pounds shall be secured in a rear-facing seat equipped with a 5-point harness.
b. A child under the age of 4 years and 40 pounds shall be secured as described in (a) until they reach the upper limits of the rear-facing seat, then in a forward-facing child restraint equipped with a 5-point harness.
c. A child under the age of 8 and a height of 57 inches shall be secured as described in (a) or (b) until they reach the upper limits of the rear-facing or forwardfacing seat, then in a belt positioning booster seat.
d. A child over 8 years of age or 57 inches in height must be properly secured by a seat belt.
If there are no rear seats, the child shall be secured as described above in the front seat except that no child shall be secured in a rear-facing seat in the front seat of any vehicle that is equipped with an active passenger-side airbag. The aforementioned is acceptable if the airbag is de-activated.
AUGUST 31, 2015 LAST UPDATED: MONDAY, AUGUST 31, 2015, 8:52 AM
BY KARA YORIO
STAFF WRITER | THE RECORD
North Jersey parents have always looked forward to a child’s first birthday. Not only is it a great milestone and cause for celebration, it was the point where the law allowed car seats to be flipped from rear-facing to forward-facing. As of Tuesday, that changes.
New Jersey law is falling in line with the American Academy of Pediatrics (AAP) recommendations, which have said that children should remain rear-facing until at least 2 years old or weighing more than 30 pounds.
“The science and studies are quite clear,” said Howard Mazin, an Englewood Hospital and Medical Center attending pediatrician, who has always urged his patients to keep their children rear-facing until age 2. “I know all parents want what’s safest for their kids.”
The other big change in the law is that kids should be in a booster seat until age 8 or 57 inches. Previously it was until 8 or 80 pounds. Children younger than 4 years old or under 40 pounds must be in a seat with a five-point harness (ideally rear-facing until hitting the limits set by the seat manufacturer) not a booster seat using the regular seat belt. The fines have also been raised from a minimum of $10 and maximum of $25 to a minimum of $50 and maximum of $75.
Posted by Alexander Hendrie on Thursday, July 30th, 2015, 7:15 AM
New documentation released by the House Oversight Committee this week again raises questions on how Lois Lerner’s hard drive was physically damaged and whether there was some kind of deliberate act to destroy data on it.
The House Oversight Committee report cites an officially transcribed interview with John Minsek, senior investigative analyst with the IRS Criminal Investigations (CI) unit. Minsek examined the Lerner hard drive in 2011. In the transcribed interview, he notes Lerner’s hard drive contained “well-defined scoring creating a concentric circle in the proximity of the center of the disk.” The Oversight Committee report states:
“Using the CI unit’s digital forensic facilities, Minsek opened the hard drive and conducted additional tests. Once he opened the hard drive, Minsek noticed “well-defined scoring creating a concentric circle in the proximity of the center of the disk.”
So how did the scoring get there?
Last month, testimony from the Treasury Inspector General for Tax Administration (TIGTA) revealed that Lois Lerner’s hard drive had “scoring on the top platter of the drive.” The testimony also noted that the IRS technician that inspected the hard drive believed that additional steps could have been taken to recover data, although this did not occur and the hard drive was later destroyed by an industrial strength AMERI-SHRED AMS-750 HD shredder.
Given these facts, it is logical to question how the “scoring” occurred and whether there was foul play involved. Here it what is known thus far:
According to TIGTA testimony submitted to the Oversight Committee on June 25, 2014, Lerner’s laptop stopped communicating with the IRS server on Saturday June 11, 2011, between 5:00 p.m. and 7:00 p.m.
According to the same testimony,the laptop was likely physically located in Lerner’s office the moment it stopped communicating with the server:
“Based on consistent network reporting for more than a week, the laptop computer was likely located in Ms. Lerner’s office.”
On Monday June 13, 2011, Lerner reported the laptop inoperable.
Lerner’s laptop was initially serviced by an IRS IT staff technician and a Hewlett-Packard contractor. Of note, the HP contractor thought the hard drive crashed due to a physical impact. According to the TIGTA testimony:
“When asked about the possible cause of the hard drive failure, the HP technician opined that heat-related failures are not seen often, and based on the information provided to him, the hard drive more than likely crashed due to an impact of some sort. However, because the HP technician did not examine the hard drive as part of his work on the laptop, it could not be determined why it crashed.”
While engaging in the mundane task of gathering financial statements for a “secure retirement” meeting with my husband’s and my adviser, this Baby Boomer stumbled upon documented proof that our nation does not have the guts to confront one of its most serious economic problems. The realization came when I pulled from my files a document statement innocently titled, “Your Social Security Statement.” At first glance, the statement did not appear menacing.
I was told I could expect to receive a benefit of “about $2,136 a month” upon reaching age 70 — which certainly seems like good news. But immediately I thought of a parallel of President Obama’s infamous Obamacare promise: “If you like your Social Security, you can keep your Social Security.” Then, as if on cue, I saw an asterisk with the following message: The law governing benefit amounts may change because, by 2033, the payroll taxes collected will be enough to pay only about 77 percent of scheduled benefits. My full form:
New Jersey is more than $10 billion short on what it would cost to fully fund schools, pensions, transportation projects, Medicaid and other programs, according to an estimate prepared by the state’s nonpartisan Office of Legislative Services and obtained by NJ Advance Media. (Samantha Marcus, NJ.com)
7:00 PM Wayne NJ Public Library 475 Valley Rd, Wayne, NJ 07470
You hear the news, but you know that making a deal with Iran is like making a deal with the Devil. You know you’re not going to make out well in the deal. You’ve been hearing so much about what is happening and you wonder what it really means to you and your family……………this is the event to attend this summer, without a doubt.
From Christchurch New Zealand, Trevor Loudon has been researching the radical left for more than 30 years.
This research has given Loudon unique insight into how extensively often miniscule communist parties have been able to manipulate, and even control policy formation in many Western countries -this is not just a historical problem, but is a very real issue, threatening America’s national security, and indeed very survival, right up to the present day.
In March 2007, Loudon discovered the long hidden relationship between notorious Hawaiian Communist Party member Frank Marshall Davis and the young Barack Obama. Soon his work was being quoted by Accuracy in Media, countless bloggers and Glenn Beck. In 2009 Loudon exposed the communist roots of Obama “Green Jobs Czar” Van Jones. After an extensive campaign by Glenn Beck and others, Jones was forced to resign from his White House position.
Since 2011 Loudon has toured the United States promoting his two books “Barack Obama and the Enemies Within” and “The Enemies Within: Communists, Socialists and Progressives in the U.S. Congress” – an extensively footnoted expose of the rapidly unfolding Marxist takeover of the United States government.
He believes that if America should fall, so will every Western nation, including his beloved New Zealand.
Six years after the Great Recession ended, more children now live in poverty than during the recession says the Annie E. Casey Foundation, a group that strives to develop “a brighter future for millions of children at risk of poor educational, economic, social and health outcomes.”
In 2013, approximately 22% of all children living in the United States are in a household below the poverty line, an increase from 2009’s figure of 18% of all children living below the poverty line.
The Casey Foundation’s associate director for policy reform and advocacy, Laura Speer called the report “disturbing on lots of levels.”
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