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How Much Is A Penny Worth?

By Al Campbell
Tuesday, Sep 23 2008, 01:22 PM

Lincoln's 200th birthday will see new 2009 pennies issued.  That raises the question as to why we still have pennies.  Is it to weigh down a lady's purse or cause a man's pocket to bulge and jingle?  Is it to fill all those glass jars in which people collect their unused pennies?

A Cox News Service article by Chris Megerian discussed some of the facts regarding pennies.

In answer to the question posed in the headline, a penny minted in 2007 cost 1.7 cents but the U.S. Mint has gotten that cost down to about 1.4 cents today.

A penny in 1857 had the buying power that a quarter has today.  I've not seen anything in recent memory that could be purchased for a penny, and I probably wouldn't want it if it were only a penny.  On the other hand, I used to covet pennies because, as a kid, I could buy all kinds of candy at the corner grocery store with a few pennies!

It seems to me that we have outlived the usefulness of the penny.  It should be eliminated and we should simply re-price things and round up or down to the nearer nickel.  There used to be a half-penny but that was eliminated in 1857.  We really ought to 'get with it' and make this happen.

There have been attempts in Congress in both 2002 and in 2006 to eliminate the penny, but both attempts failed.  The U.S. Mint produced 7.4 billion pennies last year.  At a cost of 1.4 cents each, that comes to over $103 Million if my long-hand math hasn't been lost completely.

I know that doesn't sound like much to our members of Congress, but it sounds like a whole lot to me!  Especially for a coin that we simply don't have to have.


 

Burrs Under My Saddle...

By Al Campbell
Friday, Aug 22 2008, 10:01 AM

Cigarette Taxes...

The state raised cigarette taxes to $1.77 per pack and promptly budgeted/spent all the new money that would bring in.  The only problem is that this 230% increase in the tax rate only generated a 48% increase in the tax money received!  Now, we're stuck with a lot of people circumventing the tax entirely by buying cigarettes out-of-state or over the Internet.  And, we have added to an already staggering budget shortfall.

Makes a lot sense, huh?

~~~~~

Clean Air Act Gone Wild...

One of my favorite agencies, the EPA, has decided that it now has free rein over so-called greenhouse gases.  This came to pass as the result of a 'namby-pamby' U.S. Supreme Court decision last year that didn't go quite far enough to ward off this rampant agency.  EPA has now released its Advanced Notice of Proposed Rule-making, an ANPR in the jargon, and this is astonishing.  EPA would regulate airplanes, trains, ships, boats, tractors, farm and mining equipment, lawn mowers, garden equipment, portable power generators, fork lift trucks, construction equipment and logging equipment.

EPA estimates that more than 500,000 new permits will be required.  Among the supposed new requirements are these:

  • Lawn mower standards:  "...each application could require a different unit of measure tied to the machine's mission or output-such as grams per kilogram of cuttings from a 'standard' lawn for lawn mowers."
  • Truck speed standards:  "Speed limiters are generally available on new trucks or as a low cost retro-fit..."
  • Single family homes become polluters:  "...we believe that small commercial establishments...and indeed, a large single-family residence could exceed this [CO2 pollution] threshold."

All of this means that our taxes go up exponentially since the EPA will be forced to grow staff and facilities to handle this new found mission.  And, it means that we'll all pay more for products and services.

And, none of this was ever the intent of Congress nor has it had the opportunity to inject itself to this point.

~~~~~

Compact Fluorescent Bulbs...

Regular, nice old incandescent light bulbs (starting with 100 watt bulbs) become illegal to manufacture in 2012.  The National Center for Policy Analysis (NCPA) points out that this means we can forget about spending 20 cents or so for the old bulb while buying the new CFLs for something on the order of $3.00+ (remember that these are usually subsidized today).

While CFLs save energy, they have costs associated with them that make all this really questionable:

  • The average lifetime is not 10,000 hours, but "up to 10,000 hours"
  • The energy savings and lifetime of CFLs has been exaggerated in some applications
  • The CFL only achieves the claimed efficiency if burned continuously for long periods
  • If left on for only 5 minute periods, the CFL will burn out just as fast as an incandescent bulb
  • CFLs dim over their lifetime and do not deliver what is promised

And, we're adding mercury to the environment which supposedly will be handled by proper disposal.  Yeah, sure!  How many of us has disposed of a burned out CFL improperly already?  How is that ever going to be policed?

~~~~~

Clean Water Restoration Act...

The EPA is back again.  The original Clean Water Act of 1972 had gotten to be very broadly interpreted under various EPA rulings.  "Navigable waters" had morphed into isolated wetlands, dry lake beds and drainage ditches, for example.  Now, two Democrat members of Congress have introduced the bill named in the title.  It would replace the phrase "navigable waters" with the phrase "waters of the United States"  This means "all waters subject to ebb and flow of the tide, the territorial seas, and all interstate and intrastate waters and their tributaries, including lakes, rivers, streams (including intermittent streams), mudflats, sloughs, prairie potholes, wet meadows, playa lakes, natural ponds and all impoundments of the foregoing".  Reason magazine, August/September 2008

If this bill were to pass in its current state, it would very likely result in massive new regulations for boaters, fishermen, hunters, and even conservationists.  This act would leave it to the courts to decide what constitutes "waters of the United States".

Thanks to Ronald Bailey for writing the article "Feds in a Fishbowl" in Reason.

~~~~~

Anti-Meat Campaign...

Finally, from the Heartland Institute, this on global warming activists' latest efforts.  They are launching new efforts to restrict meat production and consumption, building on prior efforts to restrict various agriculture activities that supposedly would reduce 'greenhouse gases'.

More on this can be found on the worldchanging.org website.

If we continue to have a ban on drilling more oil, we won't be able to buy meat anyway, so maybe this isn't as bad as I first thought.

Maybe we really do have too many crackpots in Congress...or too many people are being paid through campaign contributions and don't have the commonsense necessary to sort out the good from the crazy.


 

Wisconsin Losing Population...

By Al Campbell
Tuesday, Feb 12 2008, 09:10 AM

United Van Lines recently released its 2007 survey of migration patterns from state-to-state across the country.  It shows that, while Wisconsin is not yet listed as a 'high outbound' state, it is nearing that designation with 54.6% of moves being out of the state rather than into the state.  55% is the trigger point to move into the high outbound category.  This trend has been evident since United started this survey in 1977.

Given our winter so far this year, we might blame some of these outbound moves on that.  North Carolina was the highest rated inbound state, followed by Alabama, South Carolina, West Virginia and Tennessee.

Great Lakes states were in the high outbound category with Michigan on top, and North Dakota, New Jersey, Indiana, Illinois, Pennsylvania and Ohio included.

The Wall Street Journal carried this a step further in a morning Editorial by establishing a significant link to the outbound states.  Each outbound state is a high tax state.  And, the eight states without an income tax are all inbound states.

The Dakotas are an excellent example of this movement.  North Dakota ranked second worst in outbound migration in 2007.  South Dakota ranked in the top 10 inbound states.  North Dakota has an income tax, and South Dakota does not.

Winter isn't the culprit there, and it isn't the culprit in the rest of the Great Lakes states.

Our politicians need to wake up and recognize that rising tax rates drive people away.  Just as the increase in tobacco taxes will ultimately result in far lower tobacco tax collections, the same holds true for taxes in general.  When tax rates are decreased, actual tax collection increases over time.  Similarly, when tax rates are increased, actual tax collection goes down over time.

One sure way to reduce tax collection is to drive people away from our state.  And it seems we're in that mode based on United's study over the years.


 

Plethora Of Points...

By Al Campbell
Monday, Jan 28 2008, 09:41 AM

Earmarks...

The Republicans are fighting amongst themselves over whether or not to try to control their budget 'earmarks', and if so, how to proceed.  The party's elected members met over the week-end and failed to take any real steps to end earmarks.  The President is expected to address earmarks in his State of the Union address this evening.  It is reported that he will tell Congress that he'll veto any appropriation bills for 2009 that have greater than 50% as much in the way of earmarks as the same bill in 2008 carried.

That is a start, but until we have convinced our elected officials that they are spending our money and not their money, we will make little if any real progress.

And, this may well be the only true bipartisan area we have.  It is an affliction of both major parties as well as the small group calling themselves independents.

Limits On The WCCA...

WCCA stands for Wisconsin Consolidated Court Automation and it has a website that you can access here.

This site permits any citizen to locate information about court decisions, charges filed, cases scheduled and so on by county.  If you have an interest in where the case involving John and Jane Doe stands, you would access the site, pick the county (if you know it) and key in one of the names.  You'll then see the actions that have been taken, dismissals if that is the case, etc.

For some strange reason there have been two recent attempts to limit public access.  Last summer, two Democrats (Schneider of Wisconsin Rapids and Kessler of Milwaukee) mounted such an effort.  They would've permitted access only for court officials, law enforcement personnel, attorneys and journalists.  Now Rep. Vos (R-Racine) and Sen. Lassa (D-Stevens Point) want to limit access by removing certain cases from this site.  Those cases or charges would include a civil forfeiture or misdemeanor within 90 days after dismissal, a finding of not guilty or if the case has been overturned on appeal and then dismissed.  Felonies would carry the same requirement except the time frame would be extended to 120 days.

Both of these efforts are misguided at best and an assault on our rights at worst.  Wouldn't the accused rather have the information there for all to see if he or she had been absolved or if the case had been dismissed.  Why would we be concerned about those convicted? 

An example of the significance can be found in articles now running in the Journal Sentinel concerning physicians who have been involved in numerous complaints alledging malpractice over the course of time.  Many of those records would become unavailable under these efforts to wipe the slate clean.  This is not only an assault on our rights but it is also potentially going to endanger lives.

Anti-Gun Proposals...

Many in the group that would outlaw ownership of guns, or the group that wants to ban the carrying of guns (that is legal in 47 other states) would have us believe that their solution is the answer.

Here are some snippets that seem to point in the other direction:

  • New Jersey adopted a very strict gun law in 1966 and by 1968 the murder rate was up 46% and the robbery rate was up nearly 100%.
  • Hawaii adopted a series of anti-gun laws and its murder rate tripled over the next ten years.
  • Washington, D.C. imposed strict gun control laws in 1976; its murder rate has grown by 134% since.
  • England banned handgun ownership in 1997, and the number of citizens injured by firearms has more than doubled since.
  • Prior to these actions, the statistics cited had been falling.

When guns are banned, only the bad guys have guns.  In states where concealed carry laws are in place, the bad guys really have to think hard about trying anything.

Miller Executive Dies In Walkers Point Shooting...

The Director of Compensation and Benefits for Miller Brewing was killed at about 1:10AM on Sunday morning after leaving a bar in Walkers Point.  He was accosted by a robber, gave the person his wallet and was then shot to death as he sat in his auto.

The concern immediately arose over whether Milwaukee would suffer as the result of this in the process that is now ongoing as to where the headquarters of the new combined Miller Coors will be located.  It is reported that crime and homicide rates rank first in the equation that most corporations use to determine quality of life rankings.  The Journal Sentinel reported this morning, and I paraphrase, that Milwaukee is 2.3% larger in population than Denver, has 228% more violent crime including 263% more homicides.  This is extrapolated from the FBI's statistics for the first half of 2007 that were recently released.

Would you think about that if you were making the decision?  Would you add in the fact that MPS is graduating 50% or fewer of all students that start as freshmen?


 

Health Care Cost 'Crisis'...

By Al Campbell
Monday, Jan 14 2008, 09:45 AM

Seemingly everytime we pick up a newspaper or periodical we see that health care costs have risen again.  The only real question anymore is 'How Much?'.  Of course, if we still have health insurance, the premium rates continue to go up and up.  What in the world can we do about this?  Would statewide mandatory insurance coverage do the trick?  Can we somehow legislate lower insurance premiums?  Are the drug companies really the culprits?  Maybe we simply need to move to Canada or Europe.

Recent studies show that our national health care spending increased in 2006 by 6.7% to $2.1 trillion.  That means that one out of every six dollars spent in our national economy goes for health care.  The 'good news' in this staggering number is that this is actually slower growth than we saw for 2005.  Apparently we're going in the right direction, even if too slowly.

Another amazing fact, to me at least, is the amount of 'out-of-pocket' spending each of us averages after insurance premiums, etc.  In 2006, we spent, on average, 12% out-of-pocket for our health care expenses.  Know what we spent out-of-pocket in 1960?  We spent 47% out-of-pocket for health care expenses. 

That means that we are shielded to a much greater degree today from our real health care costs than we were in 1960.  Our out-of-pocket costs have decreased steadily since 1960.  We are often at the point today where we think of the cost of health care as being the $10 or $20 co-pay we have to come up with when we go to see the doctor.  Or, the $20 or $30 dollars we have to cough up for medicines.  Those amounts are very small percentages of the total costs.

Why is this important?  It is important because we need to think about what we're spending if we're ever going to be able to bring this cost spiral under control.  If we come to understand that the real cost of the doctor visit is in the range of $125 to $150 or more, we can begin to understand that maybe we shouldn't be running to the doctor everytime we have a runny nose or a cough.

Another very interesting fact is this:  more than 50% of all health care claims costs in America today are to cover lifestyle-related illnesses.  Those are the things that you and I can control to one degree or another.  But, we can't control them if we don't know about it or if we choose not to do anything about it.  What are 'lifestyle' issues?  Smoking, alcohol use, obesity and simply laying around doing no exercise.

Does this apply to us?  Here are the most current facts:  One in every four Americans eat fast food every daySix of ten Americans do not exercise or seldom exercise!  Two of every three Americans are classified as either overweight or obese!

This is the real source of our health care cost crisis.  We have met the enemy and it is us!

No mandatory state programs, or profit controls on drug companies or anything else is going to solve this problem.  The simple truth is that this is up to us.  All the rest of these proposals are simply pablum calculated to make us feel good.

That is why this 'stuff' is flowing from the mouths of politicans.  And it does nothing to solve the problem!

Let your politicians know that you understand this.  If they really want to help us, they'll begin an educational program using some of the 'smoker money' to get the true message out.  And, be sure to tell them we do not want laws banning fast food or drinking or smoking.  We need to take responsibility for ourselves.  No one else can do that for us.  The marketplace will make its own corrections just as you've begun to see with the menu changes going on in the world of fast foods, for example.

Maybe if insurance companies were permitted to charge people what we deserve to be charged based on our lifestyle habits, we'd begin to see these changes occur.  If I smoke, I pay more.  If I'm overweight, I pay a surcharge.  Make me feel my wallet lightening up if I don't take personal responsibility (just don't think this is your new way to raise taxes). 

Don't just continue to blame big health, or big drugs or big insurance!  You are doing nothing but pandering when you resort to this, and we're on to you!


 
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