New York MTA Costs Out Control

The purpose of public transit, like private transit, is to move persons from point A to point B.  The MTA’s payroll tax on employers spreads the cost to many persons instead of transit passengers paying the full cost.  This tax scheme prevents politicians from making the necessary changes and expense reductions to make the MTA operate within its budget.

If any of the lawsuits aimed at the MTA’s unpopular payroll tax are successful, Long Island Rail Road riders and other commuters could be hit with fare hikes of more than 30 percent and service cuts far deeper than those already adopted, transit officials said Friday.

Here.

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EU Bureaucrats Have Too Much Time on Their Hands

BRUSSELS—The European Union is moving to open an investigation into whether U.S. biodiesel producers are routing their product to the EU through third countries to avoid tariffs the EU imposed on U.S. shipments last year, according to documents reviewed on Friday.

Here.

How about eliminating the tariffs altogether and kill two birds with one stone? No tariffs, poof, no investigations. Why is the government interfering anyway? Obviously, there is a demand in the EU for biodiesel products, or else producers would not be trying to sell into the market and the government would not have imposed tariffs.

I’ll tell you what’s going on here. American biodiesel producers are winning in the market against EU producers, and they, including the employees, want protection against competition. This is not a patriot’s rant; I think goods should move around the globe with little government interference. That way the final customer, that almost always mean you and I, not corporations, get the lowest price.  Business-to-business transactions are usually an intermediate step on the way to final consumption by people.

Making a Living in the Porn and Gaming Fields

Two vices, porn and gaming, can offer individuals with skills in those areas opportunities to make a living. This is what they might be good at or wish to learn how to do better. They are another career path for Americans to pursue.

In Washington, desperate politicians want to lift the ban on Internet gambling to raise tax revenues. Says Rep. Barney Frank (D-MA), “Some adults will spend their money foolishly, but it is not the purpose of the federal government to prevent them legally from doing it.” It would be helpful if he had that attitude towards other activities of consenting adults, such as buying a house.

In Long Island, New York, Amy Fisher, the “Long Island Lolita” says, “‘Our society loves sex,’ said Fisher in a statement. ‘Sex is beautiful, powerful, and simply put, no one has the right to tell me what I can or can not do with my own private parts.'”

FinReg (Financial Regulation) Workarounds

Banks will beat FinReg four ways: Outsmarting the government; going overseas; making customers pay more, and getting bigger.

The takeaway from this report is this. Don’t get mad at the people who work in the Financial Services industry. Politicians are the ones to blame for the results of the new rules.

The people who work in Financial Services lowered the cost of capital and credit as a result of competition and innovation. That process applies to virtually all industries in competitive markets.

Now, politicians step in and raise the cost of doing business by imposing rules and restrictions. What would any normal person do? Minimize the exposure to such impositions.