Neither the Democrats or the Republicans pass the smell test on this one and the sooner they admit to Washington's culpability in the whole mess the better. Turning it into a tax the rich campaign is just foolhardy. David Brooks of the New York Times is reported to have said that even if the US government taxes away 50% of the income of those that earn $1 to $50 million, the national debt will only be reduced by 1%.
Yet, the Democrats are pushing even more crony capitalism to fix the problem that it created in the first place. Go figure?
To suggest that capitalism is unchecked by government laws and regulations is just bunkum.
For more: Social evils wrought by capitalism, unchecked by government - WeblogBahamas.com
Showing posts with label Government regulations. Show all posts
Showing posts with label Government regulations. Show all posts
4/20/11
Aircraft Industry: Government Regulations Force U.S. Airlines to Be Nicer - by Jenny Wilson
The U.S. Department of Transportation issued new rules Wednesday that aim to make airlines more user-friendly. The consumer protection rules arose in response to a variety of passenger frustrations and addresses lost baggage procedures, fee disclosures, bumping compensation and tarmac delays. In a press release issued on Wednesday, the government detailed changes that will come into effect in August.
The rules require airlines to refund baggage fees in case of lost luggage and fully disclose fees related to baggage, meals, changes in reservations and upgraded seating both when advertising and after passengers have booked tickets. Fare quotes also must include government taxes and fees so passengers don't feel "tricked" into paying more for a ticket than they originally anticipated.
The airline industry notoriously overbooks flights and consequently bumps passengers, but new provisions will soften the blow of this reality by requiring airlines to increase compensation. Current standards allow passengers their ticket value in compensation, up to $400. The new rule will entitle passengers to double the value of their ticket for shorter delays and increase the value up to four times the price for longer delays, which could result in up to $1300 worth of compensation, significantly more than the current upper limit of $800.
The rules require airlines to refund baggage fees in case of lost luggage and fully disclose fees related to baggage, meals, changes in reservations and upgraded seating both when advertising and after passengers have booked tickets. Fare quotes also must include government taxes and fees so passengers don't feel "tricked" into paying more for a ticket than they originally anticipated.
The airline industry notoriously overbooks flights and consequently bumps passengers, but new provisions will soften the blow of this reality by requiring airlines to increase compensation. Current standards allow passengers their ticket value in compensation, up to $400. The new rule will entitle passengers to double the value of their ticket for shorter delays and increase the value up to four times the price for longer delays, which could result in up to $1300 worth of compensation, significantly more than the current upper limit of $800.
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