Tuesday, August 15, 2006

 

Me no likey this guy

State Treasurer Richard Moore is pressuring/attacking H&R Block for their tax loans.

Here we go again... Read the article.

What about his fiduciary responsibility? Why does he even have authority to act in this way? Whose best interest is he acting in anyways?

And he will probably be a strong candidate in 2008 for his stupid paternalism.

Comments:
At first I thought you were over-reacting, but no...no your reaction was justified.

Two things:
1. Why does Richard Moore think he knows how to run H&R Block better than they do?

"When you treat your customers unfairly, It will eventually damage your company and your bottom line," Moore said.

2. Does anyone else think there's something very wrong with this?

"The state retirement system Moore oversees holds more than $7 million in H&R shares on behalf of North Carolina teachers and other workers."

Is that where his leverage is coming from, or is it his ability to push for legislation that would directly affect H&R Block?

This whole thing is a mess. Call the JLF!!!!
 
How is charging interest or fees on loans based upon expected tax returns any different from withholding interest that could have been gained by taxpayers if the funds had never been withheld in the first place?
To be fair, maybe the state should pay the fee to H&R for the taxpayer.

Nathan
 
For now, at least, we'll be spared Moore as governor. I'm pretty sure that he's announced that he will not run in 2008.
 
"To be fair, maybe the state should pay the fee to H&R for the taxpayer."

That would be unfair, since "the state" means you and I. Since when has it been fair for the state to pay for anything? It just means more taxes eventually.
 
I was just pointing out the irony in the fact that the state has already collected interest on the taxpayer by coercion and is hypocritical in trying to prevent private firms from collecting similar interests through voluntary contracts.

Of course the state shouldn't pay the fee.
Nathan
 
Woods takes on this issue in today's Mises Daily article.
 
Wonderful and informative web site. I used information from that site its great. » » »
 
Wonderful and informative web site. I used information from that site its great. »
 
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