Posts Tagged ‘Liberty Unyielding’

Tax less, spend less, grow more jobs

Saturday, December 15th, 2012

Economic growth and job creation do not come from government spending:

States that Spend Less, Tax Less—and Grow More
States with an income tax spent 42% more per resident in 2011 than the nine states without an income tax.

Does curtailing spending lead to better private sector growth?

States that allow taxpayers and employers to keep more of their earnings are reaping the benefits. States without an income tax have significantly better growth in private sector GDP (59% versus 42%) over the last 10 years. They increased the number of jobs by 4.9% while jobs in the rest of the states declined by 2.6%. States without an income tax gained population (+5.5%) from domestic migration (U.S. residents moving in and out of states) while all other states as a whole lost 1.3% of population between 2000 and 2009.

The 10 states with the highest rank in the State Business Tax Climate Index also dramatically outperform the rest of the country. They win handily on private-sector GDP growth (61% versus 42%), gained 6.1% private jobs while other states declined by 2.8%, and gained 5.5% from domestic migration at the expense of other states, which lost 1.2% between 2000 and 2009.

As a result, the states with the better business tax environment will continue to outperform the rest of the country.

Cross-posted at Liberty Unyielding.

UPDATE,
Linked by Pirate’s Cove. Thank you!

Obamacare: theory vs reality

Thursday, December 13th, 2012

Theory:

Obama: “Your employer is estimated to see his premiums fall by as much as 3,000%, which means they could give you a raise.”

Reality:
Your raise will have to wait:
Blue Shield of California seeks rate hikes up to 20%

Health insurer Blue Shield of California wants to raise rates as much as 20% for some individual policyholders, prompting calls for the nonprofit to use some of its record-high reserve of $3.9 billion to hold down premiums.

In filings with state regulators, Blue Shield is seeking an average rate increase of 12% for more than 300,000 customers, effective in March, with a maximum increase of 20%.

Some consumer advocates and healthcare economists say Blue Shield shouldn’t be raising rates that high when it has stockpiled so much cash. The company’s surplus is nearly three times as much as the Blue Cross and Blue Shield Assn. requires its member insurers to hold to cover future claims.

The increase in reserves is due to an increase in uncertainty,

The company also expects higher costs from an influx of new customers under the federal healthcare law in 2014.

“It’s a once-in-a-lifetime change in the healthcare market that will bring a lot of volatility, and we need higher reserves for that,” Wagner said.

Even with these proposed rate increases, Blue Shield said, it expects to lose money in the individual insurance market in 2013.

The insurer said its medical costs for this segment of the business grew 10.6% and what it actually pays is rising 12.5% after adjusting for its portion after customer deductibles.

And Blue Shield is not alone,

The state’s largest for-profit health insurer, Anthem Blue Cross, cited a similar jump in medical costs in seeking rate hikes as high as 25% for some individual policyholders, effective in February.

Also in California, Kaiser Permanente is seeking to raise rates an average of 9% for 220,000 individual policyholders next month.

Nowhere near that 3,000% “premium fall” Obama had us expect.

Cross-posted at Liberty Unyielding.


Introducing Liberty Unyielding

Monday, December 3rd, 2012

Friends Howard Portnoy, J.E. Dyer, Dustin Siggins and Libby Sternberg, all former Green Room contributors, kindly invited me to join them at the new blog, Liberty Unyielding.

Today’s our official launch!

My LU post today is Assange: Freedom of expression for me, but not for Ecuadorians…while he hides at the Ecuadorian embassy.

As you can see from the heading, the blog’s name was inspired by Thomas Jefferson’s quote,

The natural progress of things is for liberty to yield and government to gain ground.

Please visit LU daily, tweet, and tell your friends.