This week we’re focusing on ridiculous stories around the world that will make the inflation problem worse.
New Zealand is proposing an absurd climate tax on farm animals (which will be inflationary on food prices). California is creating all sorts of insane new rules on businesses, which will make it more expensive to do business (also inflationary).
And courts in the Sue-nited States of America have established a precedent that is bound to drive insurance premiums much higher.
The geniuses in charge have really outdone themselves this week.
New Zealand Proposes Climate Tax targeting farm animals’ burps and farts
New Zealand is proposing to tax farmers based on their greenhouse gas emissions.
The plan is to tax farmers on carbon emissions from farm equipment, but also levy a tax on methane emissions from livestock, produced in their stomachs as they digest food.
In other words, New Zealand will tax cow and sheep burps and farts.
Sheep and cattle vastly outnumber the human population of New Zealand, so the proposal says this will be a more effective way of reducing the island nation’s greenhouse gas emissions.
The proposal does not recommend specific prices for the tax at this time.
But farmers will have to report data on their farm to the government, which will calculate the tax owed on a farm-by-farm basis.
Of course, this also means the price of food will increase, since it will cost farmers more to keep livestock, plant, and harvest vegetables.
Click here to read the full report.
California Requires New Certification for Anyone Who Serves Alcohol
A new California law, the Responsible Beverage Service Training Act, requires more training for anyone in the state who serves alcohol.
Bartenders, waitstaff, and managers at any establishment licensed to serve alcohol must complete a four-hour class on the “impact of alcohol on the body… State laws and regulations relating to” alcohol, and “intervention techniques” to cut-off intoxicated patrons.
After taking the class, workers must pass a two-hour exam.
Now, certainly some people may think it’s a good idea to provide waitstaff with more alcohol training. But it’s worth asking— is this really the priority right now?
The industry (along with just about every other) is finding it nearly impossible to hire enough people. Now this state requirement will make it even more difficult to find ‘qualified’ labor to work in restaurants, and more importantly, restaurants will have to raise prices to offset the extra cost of training and recruiting qualified staff.
So bottom line, this new requirement only adds to the inflation problem.
Click here to read the full law.
California to Micro-Manage Every Fast Food Restaurant in the State
The National Restaurant Association is sounding the alarm on a proposed California bill called the FAST Recovery Act.
The organization warns that the bill would create an unelected council with “complete authority over counter service restaurants, with the ability to set regulations, without consulting the California Legislature,” on fast food employee wages, scheduling, training, and other areas.
The bill would also hold a company responsible for violations of labor law which occur at specific independently-owned franchises.
So businesses will face more liability and stifling regulation in an industry that is already experiencing labor shortages and supply chain problems.
It’s just so hard to understand why businesses are fleeing California…
Click here to read the full bill.
GEICO to Pay $5.2 million to Woman Who Caught STD in Her Lover’s Car
A woman caught a sexually transmitted disease, HPV, from her romantic partner while engaging in unprotected sex in his car.
But luckily, her lover’s vehicle was insured by GEICO car insurance. Naturally, this lady contacted GEICO seeking a settlement “for her injuries and losses,” sustained while inside the vehicle.
GEICO rejected the claim, because “damages claimed did not arise out of the normal use of the vehicle.”
But when the case went to arbitration, the arbitrator ruled that the insured “negligently infected” his lover with HPV, and awarded the woman $5.2 million.
And as ridiculous as it sounds, when GEICO appealed the ruling, the Missouri Court of Appeals affirmed that GEICO must pay $5.2 million to the woman.
What do you think— will an entire cottage industry of back-seat-related claims rain down on insurers across the US?
Gee I wonder if our insurance premiums are going to rise as a result of such frivolous lawsuits…
Click here to read the court decision.