The interpretation of the Commerce Clause of the U.S. Constitution has been a wild ride with serious implications. The clause grants Congress the power to “regulate commerce . . . among the several States”. For decades it has been used to justify the federal government’s regulation of certain aspects of the economy. Recently, ObamaCare legislated the individual mandate, which will fine people for not obtaining health insurance beginning in 2014. The administration points to the Commerce Clause as their Constitutional right to impose the individual mandate and referred to the fine as a “tax” in court to defend the action as government’s “power to lay and collect taxes”.
The Power of the Commerce Clause
It’s Time For a Fair Tax
Yet there is an even easier and more efficient way for government to collect tax revenues: a Fair Tax; a single broad national consumption tax on retail sales to replace all federal income taxes. A Fair Tax would be collected by merchants and then distributed to the government. Imagine it: a world with no tax returns for individuals, only for retail businesses. It sounds so simple. Surely it wouldn’t work, or wouldn’t produce enough revenue, or somehow make the United States fall to her knees, right? Well, no actually, simple works just fine in this case.
More Signs of Cultural Decay
Andrew recently pointed out that society’s taste in Google keyword choices may point to a cultural decay. Justin Bieber is great and all, but those 124,000,000 folks Googling his name probably aren’t tuned in to the vital matters of the day. And it got me to thinking: what other signs point to a breakdown in our skin-deep civilization?
The Senate Race Loss of Peter Schiff
Peter Schiff just lost the Republican nod for US Senator in Connecticut. If someone ever embodied the antithesis to the nation’s current approach, it is Schiff.
under: Deficits, Dollar, Dubiously Free Trade, Energy, Federal Reserve, Game Theory, Individual v. Collective, Taxes, Treasury
Tags: Audit the Fed, bailouts, Connecticut, Constitution, corporatism, democracy, economic freedom, entitlements, Fannie Mae, Federal Reserve, financial crisis, Freddie Mac, IRS, Linda McMahon, Peter Schiff, Treasury, welfare, WWE
Should the New Health Care Plan Cover Birth Control?
Currently, public initiatives offer free, or heavily subsidized, birth control in some states through organizations like Planned Parenthood. With most state budgets in the tank, these options may not be there forever. Some religious groups scoff at the idea of publicly-funded birth control as it flies in the face of their spiritual beliefs; and more seriously, public financing for abortion. We can save abortion for another day, however, it’s safe to say you won’t find too many public health experts on the platform that distributing birth control is a bad idea.
SwiftEconomics Twitter Feed Ranks 29th Best in Following Economy
Things We Should Be Allowed To Do – Part 1: Sell Our Own Organs
We live in a country where we can lawfully slander a celebrity, but may not sell a kidney to save someone’s life.
By precedents set in the court system, we may defame and defile a celebrity because they have achieved “public figure” status, but may not sell a kidney for some hybrid incentive of monetary gain and altruism; one that, oh by the way, will save a person’s life.
State Death Match: Texas vs. California
Throughout much of our nation’s history, US federalism has moved toward centralizing power within the federal government. Since the post-bailout hysteria and most recent public sector expansion, the issue of states’ rights has had a renaissance. Some Americans long for a system where states have more control to govern. You know, the system our Founders seemed to envision, where each state is an experiment adopting best practices from one another.
Identifying Health Care Problems and Solutions
While I’m happy that both the PCIP bridge and the eventual change in law will allow many to obtain health coverage, I don’t feel the Affordable Care Act meaningfully addresses any of the issues in our health care system. Namely, the multitude of reasons health care is unaffordable.
under: Deficits, Dollar, Game Theory, Individual v. Collective, Live and Learn, Taxes
Tags: adverse selection, Affordable Care Act, arbitrary price setting, asymmetric information, death spiral, doctors, health insurance, hospital finance, insurance scheme, malpractice, Medicaid, Medicare, PCIP, pre-existing condition, regulation
LeBrononomics
LeBron James announced yesterday that he will leave the only franchise he has known in his first 7 NBA seasons, the Cleveland Cavaliers, for the greener pastures (or whiter sands) of South Beach and the Heat. There, he will form a triumvirate with Dwayne Wade and Chris Bosh, creating an alliance of 3 of the top 10 players in the NBA. Who else will be joining the squad is yet to be determined. Upon trading forward Michael Beasley to the Minnesota Timberwolves yesterday for a 2011 second round draft pick, the Heat currently have 4 players on their roster (once the Holy Trinity is inked), plus 3 unsigned second round picks from last month’s draft. Depending on the contract figures for James, Wade, and Bosh, the Heat will see how much cap space is available, determine how far they’re willing to go over the cap, and look to sign affordable veterans, minimum salary guys, and possibly their own 2010 draft picks. The 3 Team USA alums have expressed they would take less than the max contracts, in state income tax free Florida, to help bring in the players necessary to win titles.
Glossary
Twitter Updates

Motion Pictures
Sponsors
Tags
Categories
- Uncategorized (33)
- Federal Reserve (104)
- Obama Says (60)
- Deficits (124)
- Dollar (121)
- Site News (6)
- Live and Learn (170)
- Energy (23)
- Treasury (98)
- Game Theory (87)
- Individual v. Collective (130)
- Trust (164)
- Taxes (91)
- Dubiously Free Trade (33)
- Complete Whimsy (58)
Search
Sponsor
Archives
- September 2010 (2)
- August 2010 (25)
- July 2010 (18)
- June 2010 (12)
- May 2010 (10)
- April 2010 (14)
- March 2010 (15)
- February 2010 (8)
- January 2010 (8)
- December 2009 (12)
- November 2009 (12)
- October 2009 (9)
