Tag Archives: denmark

Regulation Roundup

Some of the zanier happenings in the world of regulation:

The Texas legislature was poised to pass a bill classifying the TSA’s pat-downs as misdemeanor sexual harassment – until the TSA threatened to ground all flights out of the state. The agency claimed it would be unable to guarantee passenger safety without the pat-downs. The legislature promptly backed down.

Denmark has banned Marmite, a paste-like substance made from brewer’s yeast that is popular in Britain. The reason for the ban is that the paste has added vitamins and minerals. In Denmark, that’s a no-no.

Don’t sell rabbits without a license. The Dollarhite family of Nixa, Missouri, found that out the hard way. The federal government has fined them over $90,000 for breeding rabbits and selling them to pet stores.

Members of Congress have unusual investment acumen. A new paper finds that “A portfolio that mimics the purchases of House Members beats the market by 55 basis points per month (approximately 6% annually).” The study covers the period from 1985 to 2001. The subsidies, tax breaks, and other forms of corporate welfare that Congress indulges in couldn’t possibly have anything to do with their personal investment decisions, could it?

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Value Added Tax? Bad Idea

Today’s Daily Caller has an article by Wayne Crews and I making the case against the VAT, which is becoming a popular idea in this age of trillion-dollar deficits. Our main points:

-It would require roughly doubling the size of the IRS. Enough said

-VATs are untransparent. Sales taxes show up on receipts. VATs don’t. Knowing how much we are taxed is a fundamental right that preserves our ability to challenge excess government in a constitutional republic. A VAT would take that away.

-VATs increase over time. At least they have in 20 of 29 OECD countries that have VATs.

-VATs are prone to special-interest abuse. Politically incorrect goods are easily hit with punitive rates. In Denmark, people pay roughly triple sticker price for cars, for example.