Comment Text:
Quit trying to ban stuff. Whenever you don't like something, tax it instead. Not only is banning anything very unpopular, but it shows you've never passed a college level economics course before. If you haven't passed a macroeconomics or microeconomics course, your hands don't belong on the steering wheel and it's better if someone qualified has your job instead. I passed AP Economics in High School and Macroeconomics in College. That makes me more qualified to talk about this than a janitor. No offense to janitors. If you have passed one, you probably agree with me anyways.
Anytime you feel like banning something, don't. Tax it instead with an excise tax. This message was directed at the topic of banning of election futures markets but has a broad application. Seriously, is this communist Russia, communist Cuba, or communist Venezuela? Obviously not! Quit trying to be like them! They all failed for a reason. Quit trying to ban stuff (even if you don't like it!) and let a little more freedom, liberty, and the pursuit of happiness into your life instead. Remind yourself why your website's colors are fully Red, White, and Blue.
Economics 101:
-Don't ban things you don't like; excise tax them instead. Taxes reduce economic activity in that sector and generate revenue for the government. Banning things is unpopular and costs the government money to enforce. One costs money; the other makes money. Banned activities sometimes makes people want to do it more; especially young people. Because everyone wants what they don't have. When they think bans; think taxes instead.
-Companies strive to eliminate competition. It's a government's job to stimulate competition and remove barriers of entry (BOEs) placed by other companies (such as regulatory barriers). Competition lowers cost, increases quality, and increases innovation while Monopolies become lazy and anti-consumer.
-Avoid Tragedy of the Commons situations -- where one company or person benefits to the detriment of many others. This is when you introduce regulations.
-Don't pricefix anything. Just look at Venezuela and how price fixing their oil & gas did for them. Ex: pricefixing housing leads to substantially less new housing. Whenever something is too expensive, increase competition instead by removing Barriers of Entry (BOEs).
Perform a cost-benefit analysis when making decisions:
- Programs that generate more than $1 in value for every $1 invested should be funded more.
- Programs that generate less than $1, no value, or negative value for citizens should have all funding eliminated.
Best wishes,
Nicholas Segal
American Citizen, Registered Independent.
Florida State University
Believes in Liberty and Freedom and Advocates for more Cost-Benefit Analyses
