Economic News 1987

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updated: 2018-06-20
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Shirley Hobbs Scheibla _Barron's_ pg16
Fizzling FSLIC

Clint Bolick _Cato Institute_
The Age Discrimination In Employment Act: Equal Opportunity or Reverse Discrimination?

1987 December
John Tschetter _Monthly Labor Review_
Producer services (i.e. bodyshopping) industries: Why are they growing so rapidly?
"Does the hefty post-war growth of some service industries mean that manufacturers are cutting over-head by farming out activities once performed in house?   Analysis of data shows this to be an unlikely explanation for the growth of producer services industries."

Ron Paul _Freedom Under Siege_/_Daily Paul_
A Definition of Individual Rights

Ron Paul _Ludwig von Mises Institute_
Freedom Under Siege (pdf)


Jim Ludwick _The Missoulian_
Job-hunt rules strip liberty from us all
"It started last week.   Throughout the country, illegal aliens stepped forward as the US Immigration and Naturalization Service launched an amnesty program under a federal law signed in November.   Legal status is being offered to those who have lived here illicitly since before 1982 January.   The amnesty program will [supposedly] help clean the slate for an upcoming crack-down on more recent arrivals.   And it is that crack-down -- not the amnesty -- which will have the more significant effect.   For the first time, job-seeking US citizens will be asked to show documents proving they are not illegal.   And therein we find the truly dark side of the program that will affect the civil liberties of every American in order to make things easier for Mexican-watching federal employees, who complain they can't control the tired, poor and huddled masses yearning to move north.   World history is a catalog of troubled societies that repeatedly come up with the same wrong answer: Give more power to the cops.   And that is the essence of America's new plan.   In this case, since the cops are having trouble collaring the guilty, society is shifting the burden of proof, requiring the not-guilty to prove they are innocent.   No doubt, that will make things easier for the gun-toting bureaucrats who watch our borders.   And starting in June, every business manager who wants to hire someone will be enlisted to help; employers will have to view the documents delivered by job-seekers, then will have to keep records to occasionally display to authorities searching for the not-proven-innocent.   It isn't right.   Proponents see the system as a way of dealing with an extremely difficult problem.   But regardless of the problems facing a society, there are a couple of good, standard rules for reining in excessive police power.   One rule is that people shall be given the benefit of the doubt; they shall never have to prove their innocence, but shall be assumed to be innocent until there is evidence of guilt.   Another rule is that people shall not be brow-beaten with questions that dare self-incrimination.   Those rules must not be forgotten, no matter how loudly bureaucrats whine about needing more power to do their jobs.   That's what they said about money, and look where it got us [a reference to the soaring inflation which has now made a dollar worth about 4.5% of what it was worth when the Federal Reserve was created in 1913].   And here's a revolutionary thought that apparently hasn't occurred to our leaders: The tail doesn't wag the dog.   The government shouldn't command the job market.   If a company is operating honestly and decides to deal in good faith with an honest job candidate, that situation is good, not bad.   There is no need for the government to step in with nosey requests for proof of the innocence of people who are accused of nothing.   There is no need to add to the red tape already facing employers or to expand their legal jeopardy for dubious reasons.   Chances are, the next time you look for a job, no one will think you are an illegal alien.   Chances are, your future boss won't be thrilled about the paper-work and won't have any intrinsic interest in the documents you will be asked to produce.   Chances are, it will never occur to anyone that you might have slipped across the Mexican border, originally hoping to cheat an American out of a scuzzy job requiring little education and no command of the language.   But it won't matter what anybody thinks.   What will matter is that employers will have been pressed into the service of the federal bureaucrats.   It will matter whether you have the right pieces of paper to prove you did not commit a crime that no one ever accused you of in the first place.   It will matter that you have lost a measure of your liberty, and it will matter that the federal government thinks it should intercede every time a US citizen seeks a job.   This should be stopped."

Karla Jennings _NYTimes_
New tax threatens high-tech free-lance consultants
"The law is aimed at skilled workers, many in the high-tech industry, who [are free-lancers or] sell their skills through service agencies, which then match them with clients such as banks and stock-brokerage firms.   A number of these professionals -- engineers, designers, drafters, computer programmers, systems analysts -- are called 'self-employed consultants', and they are losing that tax status under the new legislation.   The impact of the law, Section 1706 of the Tax Reform Act of 1986, was not fully appreciated by its targets until December, when the Internal Revenue Service published a circular on it...   Because of the new law, service agencies formerly listing consultants as independents may now have to list them as employees or face a penalty and possible investigation by the Internal Revenue Service."
Taxation of technical services personnel: section 1706 of the Tax Reform Act of 1986 : a report to the Congress

Paul Craig Roberts _Business Week_
how "experts" caused the third world debt crisis

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