Posts Tagged ‘legislation’

Are college students too “foolish” to vote?

Monday, March 7th, 2011

If you ask some politicians, they are. And they’re mucking up the whole political system, dag-nabbit. According to a Washington Post article, some lawmakers have had it up to here with whipper-snappers voting with their feelings.

Average taxpayers in college towns, [Sorg] said, are having their votes “diluted or entirely canceled by those of a huge, largely monolithic demographic group . . . composed of people with a dearth of experience and a plethora of the easy self-confidence that only ignorance and inexperience can produce.”

Their “youthful idealism,” he added, “is focused on remaking the world, with themselves in charge, of course, rather than with the mundane humdrum of local government.”

– New Hampshire State Rep. Gregory Sorg

The solution? Proposals differ from state to state, but basically every voter would be required to show ID or proof of residence in order to vote. That would mean anyone without an appropriate ID would have to get one.

But identification costs money! That’s unconstitutional! It’s akin to the poll tax used to disenfranchise African-American voters in the 19th century!

What does this have to do with me and my money, you say? Well, since state governments can’t legally force people to buy the right (or the ID) to vote, taxpayers would have to absorb the costs.

And according to one estimate, the state of Wisconsin alone would have to pony up $2.7 million just to provide valid identification cards to voters who do not currently have them.

What do you think? Do you want to pay for that? Or are you too foolish to know?

Foreign-Currency Debt Hits Hard In Central Europe

Thursday, August 5th, 2010

In Europe’s tight quarters, borrowing from your neighbor across the border could lead you down a bumpy road.

  • Central European households and small businesses are struggling under the weight of foreign-currency debts.
  • The fluctuation in interest rates and currency values associated with foreign-currency lending has put many into debt, resulting in stalled economies as people try to pay off loans.
  • Governments are scrambling to implement preventative regulations, including legislation to ban foreign-currency mortgage loans and a government buyout fund that would allow borrowers to convert their foreign loans to their native currency.

Facts & Figures

  • In Hungary, nearly 70% of the country’s total household debt was borrowed in foreign currency.
  • In the Baltic states 70-90% of household borrowing is in foreign currency.

Best Quote

“Hungary is close to its non-performing loan peak.” – Sandor Csanyi, Chief Executive, OTP

A Bump For Small Businesses

Tuesday, July 13th, 2010

A new bill promises higher loans and bigger benefits for those pursuing business on a smaller scale…

  • On June 29th the Senate introduced a small-business jobs bill that guarantees higher and more inclusive government loans for small businesses and provides tax incentives to encourage small business investment.
  • The bill also includes a lending fund that loans money to community banks so that they can then lend to small businesses. It also finances state and local programs that would aid businesses in getting bank credit.
  • The bill is designed to appeal to a bi-partisan crowd. It allows people to pay more taxes strictly by choice, with the hope that this will appeal to both a Republican and Democratic audience and eventually be implemented.

Best Quote

“It is attractive politically because people pay more taxes today only if they choose to do so; ergo no one can complain about the tax increase.” – Roberton Williams, Senior Fellow, Tax Policy Center