Monday, August 17, 2015

On Armstrong & Getty Today Regarding the Conceit of Regulation, Part Time Work Under PPACA and the U.S Regulatory Explosion

"The conceit of regulation is that bureaucrats of below average talent have the knowledge, insight and skill to oversee the talented and to catch their errors before they do, themselves.... The best medical, financial and business minds migrate toward JP Morgan, Merck & Coke a Cola... where the work is stimulating and the compensation, high. It is unlikely that the best and brightest will settle for a federal regulatory agency and its relatively low pay."  John Tamny, Popular Economics.

My time in studio takes place in the first half of the today's third hour

Obamacare is pushing the lower end of full-time employees to part-time work: 
  • In June of this year, there were 191,000 fewer workers with usual work schedules of 31 to 34 hours in their main jobs than at the end of 2012, a drop of 8%. 
  • Meanwhile, an additional 406,000 people usually worked 25 to 29 hours, up 12%. 
  • The divergent shifts on either side of the 30-hour divide coincide almost perfectly with the initial measurement period for ObamaCare employer penalties that began in 2013. 
Source: Investor's Business Daily.

Government-Sponsored Programs Make Up 52% Of What We Spend On Healthcare - Government-sponsored programs provide either health care or health insurance to the elderly, poor, veterans, military families, federal employees, uninsured children, American Indians and Alaskan Natives, refugees who resettle in the U.S., individuals with substance abuse and mental health issues and inmates in federal and state prisons.
Today’s typical Medicare beneficiary will have paid into the system just 13% to 41% of his or her expected Medicare consumption. The rest is funded by payroll taxes paid by today’s working Americans.

Federal Gov't Pumped Out 324 Pages of New "Law" Per Work Day in 2014 Devouring 29% of an Annual Family Budget

Federal Government Runs More Than 2,300 Subsidy and Benefit Programs - Double the Number in the 1980s