The threat of economic chaos can benefit politicians and policymakers by sharply focusing the mind on what really works. If rumors circulating in Frankfort are to be believed, Gov. Steve Beshear's administration could be gaining an unexpected dose of focus.
Supposedly, the administration is seriously considering working to lower healthcare costs by repealing Kentucky's Certificate of Need regulations in opposition to some powerful political opposition. This move finds data-driven support on the federal and state levels.
And the really big news would come if Beshear turned on his Big Labor constituency and, as has been speculated, works to get rid of Kentucky's prevailing wage mandate.
Monday, October 27, 2008
Might Frankfort lose big-government religion?
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Government needs to focus on ensuring that government is practicing good government. That's to provide for the care and happiness of the people and not their destruction according to Thomas Jefferson.
That would necessitate changing the tax system to a proportional system as envisioned by Alexander Hamilton in Federalist Paper 12. He wrote:
"The ability of a country to pay taxes must always be proportioned, in a great degree, to the quantity of money in circulation, and to the celerity with which it circulates. Commerce, contributing to both these objects, must of necessity render the payment of taxes easier, and facilitate the requisite supplies to the treasury."
According to Adam Smith in Wealth of Nations, wages should be sufficiently high to provide a family with "necessaries and conveniences." Today, that would be called a "living family wage."
That would be anathema to avaricious, greedy corporate capitalist who want to be free to exploit those least able to defend themselves. They advocate a type of social Darwinism.
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