I highly recommend watching this special.
Though it is certainly viewed from the side of the consumer and not the business, it's fairly straightforward.
A) Frivolous lawsuits are not crippling our justice system. Most lawsuits are brought forth with good reason (people were wronged by a business or company or someone and they need to be held accountable)
B) The Hot Coffee indecent was not frivolous *at all* - I was shocked to see the photos of the 3rd and full thickness burns.
C) The Chamber of Commerce is buying off *your rights as citizens* They are installing state supreme court justices who will not just defend Business interests in cases that are frivolous, but in cases in which business should be held accountable.
D) Tort reform hasn't reduced costs. It hasn't dropped insurance premiums for doctors. In fact, here in Texas, premiums *went up* after they passed tort reform. Healthcare costs continued to go up.
I've explained this many, many, many times.
Just because one reduces the operating costs of someone else (especially by legislation, how anti-free market is that) does not mean those cost reductions are going to flow to consumers.
How much more wrong does it need to get to see that?
---- Businesses face increase costs. They raise prices. Those costs come down. They keep the elevated prices.
Things like this show you exactly how and why that happens. The simple answer is any and all money should be passed onto shareholders. The stock market (via reward of capital gains rather than income distribution via dividend) has created the requirement for all listed companies that the *level* of profit can *never* drop.
Nevermind if a company is still making money. It has to be making *more* money. Has to. And that simply is not *economically* true. It's only true in terms of stock valuations.
Making less money does not mean a company is doing less *business*
Why can't some of those price increases come back now that cotton has come down?
The *same* exact thing is true when we talk about taxes.
Why do people think if taxes are less businesses will hire more, create jobs, give raises, reduce the cost of goods and services, invest more in R&D, make new capital purchases.
*It's not true*
Most of that money is going to reward the people with vested interests. And then I ask, how does that money get put back into the system if the people rewarded are not using it for any of these things?
They aren't taking their money and building a new business, doing R&D, consuming all that much. It's all in financial credit land (not being used as loans mind you).
Big business is in an all out assault on every front. It's pretty shameful. And if you work at a small business, you should be concerned too. After denying citizens, the next area business looks at is getting over on the people trying to take their business.
Which means they are going to pursue the avenues (like Hot Coffee) to deny Small Business competitive opportunities.