Lone Candle
Champion of Truth
“most Chinese E.V. companies are still reliant on subsidies. As corporate earnings reports show, only BYD Auto has managed to make a profit.”
https://reason.com/2024/09/24/most-chinese-e-v-firms-are-unprofitable-local-governments-keep-propping-them-up-anyway/
“Unreliable drug tests are sparking unnecessary child welfare investigations.”
https://reason.com/2024/09/13/the-government-is-taking-babies-away-because-their-moms-ate-poppy-seeds/
“Kroger is the fourth-largest grocery store chain in America—behind Walmart, Amazon, and Costco—and Albertsons is the fifth-largest. Once merged, the combined company would rise to third on the list. On the surface, this may seem to provide some support for the FTC’s position, but American shoppers would be wise to read the fine print.
In truth, if the deal were to proceed, a merged version of Kroger and Albertsons would still only make up 9 percent of overall grocery sales. To put this in further perspective, consider that Walmart—the nation’s largest grocery provider—would continue to operate more stores (including its Sam’s Club outlets) than a Kroger-Albertson combo and maintain grocery revenue that is more than twice that of the merged company.”
https://reason.com/2024/08/17/harris-joins-the-ftcs-food-fight-against-kroger-albertsons-merger/
“trade policy. Trump’s protectionist stance is well-known, with his administration imposing tariffs on a wide range of goods, particularly from China. He has since announced that he would like to impose an across-the-board 10 percent and then 20 percent tariff on imports to the U.S., on top of the those already in place.
But Harris’ stance is hardly better. She has embraced a “worker-centered” trade policy that looks suspiciously similar to Trump’s “America First” approach. Both emphasize protecting existing American jobs and industries, even at the cost of higher prices for beleaguered consumers, fewer resources to start new firms that will lead to more opportunity for the next generation of workers, and reduced economic efficiency. And let’s not forget that during the last four years, the Biden-Harris administration has imposed its fair share of tariffs while keeping many of Trump’s.”
…
“Both sides want to subsidize homeownership. The Republican platform advocates for the government to “promote homeownership through Tax Incentives.” The Harris campaign has announced a $25,000 subsidy for first-time homebuyers. Both plans would subsidize housing demand, thus putting upward pressure on housing prices. Great for people who already own homes; not so great for the new homebuyers themselves.”
…
“Both Harris and Trump represent variations on a theme of big, fiscally irresponsible, hyper-interventionist government.”
https://reason.com/2024/08/22/trump-and-harris-economic-plans-are-depressingly-similar/
Successful government intervention!
https://www.youtube.com/watch?v=Olj8arvfYj4
“Not only does keeping your body temperature down prevent you from developing heat stroke and other heat-related illnesses, but it can fend off cognitive and mood impacts of heat, like aggressiveness and mental sluggishness when processing information.
In general, aquatic activities — like swimming, water aerobics, or even floating in water — have myriad benefits. They’ve been linked to better mental health and positive mood. Swimming has also been shown to improve memory and cognitive function. Aside from the boost to mental health, a few laps in a pool improves heart health and lung capacity, lowers blood pressure, reduces joint pain, and increases bone strength, according to research.
Public pools can also be places where non-swimmers learn crucial water safety skills. Over 4,500 people died from drowning each year from 2020 to 2022, according to CDC data.”
…
“Like many third places, public pools bring together members of the community of all ages and backgrounds. “We so often push older ages to the periphery,” Finlay says, “and pools are spaces where there are designated programs for older adults, in addition to children.” Pools are where sunbathing teenagers rub shoulders with lap-swimming retirees. This melting pot effect can contribute to your sense of community belonging, which, in turn, can lead to improved mental and physical health. One study found that when people went to pools for social contact, they reported less isolation and stress and improved mental health. An Australian report found that public pools encouraged social cohesion and connection.”
https://www.vox.com/even-better/362193/public-pools-benefits-community-swimming
“Last September, California Governor Gavin Newsom (D) signed a bill mandating a $20 minimum wage for fast food workers. The new wage is among the highest in the county, surpassing even Washington, D.C.’s $17.50 minimum wage. While supporters touted the wage increase as a way to help struggling Californians, detractors warned that restaurant owners would respond by laying off workers, cutting their hours, or speeding up the already starting shift to automation.
The law went into effect in April, meaning that it’s likely too early to tell what the ultimate effects of the law will be. However, a recent report from the Associated Press detailed concerns from several California fast food restaurant owners who say they’ve been forced to reduce hours and hike food prices.
“We kind of just cut where we can,” Lawrence Cheng, whose family owns several Wendy’s franchises told the A.P. “I schedule one less person, and then I come in for that time that I didn’t schedule and I work that hour.”
Juancarlos Chacon, who owns nine Jersey Mikes locations in Los Angeles told the A.P. that he’s resorted to reducing staff, cutting his part-time workers by about 20 employees. He’s also had to raise prices. A turkey sub, for example, that used to be under $10 now costs $11.15. As a result, the amount customers spend, he says, has been falling.
“I’ve been in the business for 25 years and two different brands and I never had to increase the amount of pricing that I did this past time in April,” he told the A.P.”
https://reason.com/2024/07/10/californias-minimum-wage-law-has-led-some-employers-to-cut-hours-and-hike-prices/
“You can add the Internal Revenue Service to the ranks of federal agencies conceding that raining taxpayer money on all and sundry to offset the negative effects of pandemic-era closures didn’t go as well as intended. Not only was a program meant to offset the cost of paying workers during lockdowns and voluntary social-distancing prone to being gamed, but the “vast majority” of claims submitted to the program show evidence of being fraudulent.”
…
“In the course of a detailed review of the Employee Retention Credit, “the IRS identified between 10% and 20% of claims fall into what the agency has determined to be the highest-risk group, which show clear signs of being erroneous claims for the pandemic-era credit,” the IRS announced June 20. “In addition to this highest risk group, the IRS analysis also estimates between 60% and 70% of the claims show an unacceptable level of risk.”
The Employee Retention Credit was offered to businesses that were shut down by government COVID-19 orders in 2020 or the first three quarters of 2021, experienced a required decline in gross receipts during that period, or qualified as a recovery startup business at the end of 2021. But it was clear early on that scammers were taking advantage of giveaways of taxpayer money, either to claim it for themselves or to pose as middlemen helping unwitting business owners file claims.
In March of 2023, the tax agency warned of “blatant attempts by promoters to con ineligible people to claim the credit.” In September of that year, it stopped processing claims amidst growing evidence that vast numbers of applications were “improper,” as the IRS delicately puts it. In March 2024, the agency announced that its Voluntary Disclosure Program had recovered $1 billion (since raised to over $2 billion) in improper payouts from participants who got to keep 20 percent of the take.
Ultimately, only “between 10% and 20% of the ERC claims show a low risk” for fraud, even by generous federal standards for throwing other people’s money at problems largely of government creation.”
…
“”The total amount of fraud across all UI [unemployment insurance] programs (including the new emergency programs) during the COVID-19 pandemic was likely between $100 billion and $135 billion—or 11% to 15% of the total UI benefits paid out during the pandemic,” the Government Accountability Office warned last September.
Earlier, the Small Business Administration’s Inspector General found more than $200 billion stolen from the Economic Injury Disaster Loan (EIDL) program and Paycheck Protection Program (PPP). “This means at least 17 percent of all COVID-19 EIDL and PPP funds were disbursed to potentially fraudulent actors,” noted the report.
With between 70 percent and 90 percent of claims for the Employee Retention Credit identified as likely scams, either the IRS is a stand-out magnet for grifters or other agencies need to return to their own investigations with a somewhat more skeptical eye.”
https://reason.com/2024/06/24/vast-majority-of-pandemic-employee-retention-credit-claims-are-likely-scams-says-irs/
“”Right now, hairstylists in Connecticut need almost a year of education before they can work at their trade,” Darwyyn Deyo, a professor of economics at San Jose State University, tells Reason. “Although efforts at improving inclusivity and equity can improve outdated state-mandated curriculum, SB 178 could also make it harder for aspiring hairstylists to afford their training by increasing the cost of education.”
Research from the Institute for Justice, published in November 2022, found that “too many licensing burdens are excessively onerous or entirely unnecessary” because “red tape forces aspiring workers to waste time and money or, worse yet, shuts them out of work.”
One of the authors of that study, Kyle Sweetland, a research analyst at the Pacific Legal Foundation, tells Reason that the new Connecticut law is no exception. “While everyone loves to get a good haircut,” Sweetland says, “requiring beauticians in Connecticut to spend more hours in training—as Public Act No. 24-53 will do—is unfair to debt-burdened beauticians in the state and could lead to higher prices for customers.”
“If there is an unmet demand and high prices for cutting a certain type of hair,” he adds, “salons have a strong financial incentive to train their beauticians on cutting this type of hair—or to hire beauticians who know how to do so already.””
https://reason.com/2024/06/27/connecticut-implements-mandatory-inclusivity-training-for-cosmetologists/
California fast-food franchise owners, consumers feel brunt of minimum wage hike
https://finance.yahoo.com/news/california-fast-food-franchise-owners-consumers-feel-brunt-of-minimum-wage-hike-174515934.html