Announcement

Collapse
No announcement yet.

2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vacante

Collapse
This topic is closed.
X
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

    Thanks for that. So the money quote is:

    "And the thinking is that world number one where people with valuable skills take a large share of their labor income and transform it into capital goods is ultimately a richer world than the world in which such people just go out to a lot of fancy dinners."

    To me, it's half an analysis. There is only evaluation of whether to invest or spend once I have money. It ignores my incentives to go out and actually work.

    I see nowhere in the equation a question of two scenarios:

    1. With higher LTCG Tax, lower labor tax. I have a million in the bank earning me 50k a year. I need to get a job and want to get a job due to incentives in tax.
    2. With lower LTCG Tax, higher labor tax. I have a million in the bank earning me 50k a year. I don't need or want to get a job as tax disincentives me.

    So the authors scenario paints a 'I spend or I invest' scenario. Both good as either the money's in capital or its funding a restaurant. Maybe there is some economics that says its slightly better to have this money invested. My scenario paints a 'I work or I sit on my butt' scenario. One absolutely better than the other.

    So IMO macro economic factors still favor low labor taxation. Likewise, who do we want to tax? Someone who sits on their butt all day or the guy who is putting long hours and doing 'the right thing' by working.

    Maybe I'm wrong here. But I think its much more likely that there are very powerful special interests that are selling a bill of goods that have no merits because there is alot of money at stake for people sitting on cash. And I see it highly likely that someone who is buried in macro economics and reads this stuff (liberal or not) can be sold on it.
    Go Gophers!

    Comment


    • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

      Originally posted by 5mn_Major View Post
      My scenario paints a 'I work or I sit on my butt' scenario. One absolutely better than the other.

      So IMO macro economic factors still favor low labor taxation. Likewise, who do we want to tax? Someone who sits on their butt all day or the guy who is putting long hours and doing 'the right thing' by working.
      I haven't thought a lot about this - but at first glance it appears you're mixing up "macro economic factors" with what are actually social values (just as, if not more, valid - but they're not economic considerations and may in fact be economically harmful while supporting other forms of "good").
      Huskies are very intelligent and trainable. Huskies make an excellent jogging companion, as long as it is not too hot. Grooming is minimal; bathing is normally unnecessary.
      USCHO Fantasy Baseball Champion 2011 2013 2015

      Comment


      • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

        Originally posted by geezer View Post
        I haven't thought a lot about this - but at first glance it appears you're mixing up "macro economic factors" with what are actually social values (just as, if not more, valid - but they're not economic considerations and may in fact be economically harmful while supporting other forms of "good").
        IMO incenting folks to work vs. not work is as much of a macro economic factor as is whether to incent them to spend vs. invest. And frankly, I think the implications on the economy of the decision of whether to work or not are much more severe.
        Go Gophers!

        Comment


        • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

          The roots of conservative class war
          CCT '77 & '78
          4 kids
          5 grandsons (BCA 7/09, CJA 5/14, JDL 8/14, JFL 6/16, PJL 7/18)
          1 granddaughter (EML 4/18)

          ”Any society that would give up a little liberty to gain a little security will deserve neither and lose both.”
          - Benjamin Franklin

          Banned from the St. Lawrence University Facebook page - March 2016 (But I got better).

          I want to live forever. So far, so good.

          Comment


          • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

            Originally posted by unofan View Post
            If you can't understand why people have a problem with that...
            Why not whine about Obama then, "he isn't paying his fair share either"
            I swear there ain't no heaven but I pray there ain't no hell.

            Maine Hockey Love it or Leave it

            Comment


            • Originally posted by joecct View Post
              Math aside, if you are receiving social security, you aren't getting a government handout...you paid it into the system and are getting it paid to you later, after the government has wasted their half of it.

              Whether the government has calculated and provided sufficiently is another question.
              I believe in life, and I believe in love, but the world in which I live in keeps trying to prove me wrong.

              Comment


              • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

                Originally posted by pirate View Post
                after the government has wasted their half of it.
                You realize the administrative costs for social security is something like 1%, right?

                Comment


                • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

                  Originally posted by walrus View Post
                  Whats pure nonsense about Mitt following the letter of the law...
                  There's nothing wrong with him following the letter of the law. The problem is someone in his financial position crying about "taxing the rich" while the current letter of the law allows someone earning that much money to pay in at that rate while the middle class is getting raped. That's the problem and for once perhaps voters such as yourself would stop obfuscating where the objections come from.
                  Last edited by Slap Shot; 09-22-2012, 04:10 PM.

                  Comment


                  • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

                    Meanwhile, Howard Stern fleshes out the definition of "low information voter." As it happens, this bunch of morons are all Obama supporters. And it's certainly true there are low information Romney voters are there, too. So just enjoy this. And remember, these are the people who may decide this election.

                    http://www.youtube.com/watch?feature...v=SeJbOU4nmHQ#!
                    2011 Poser of the Year & Pulitzer Prize winning machine gunner.

                    Comment


                    • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

                      Originally posted by unofan View Post
                      You realize the administrative costs for social security is something like 1%, right?
                      With a massive IOU from the general fund. If the gov't has to repay that anytime soon, its not going to be easy (or easing).
                      CCT '77 & '78
                      4 kids
                      5 grandsons (BCA 7/09, CJA 5/14, JDL 8/14, JFL 6/16, PJL 7/18)
                      1 granddaughter (EML 4/18)

                      ”Any society that would give up a little liberty to gain a little security will deserve neither and lose both.”
                      - Benjamin Franklin

                      Banned from the St. Lawrence University Facebook page - March 2016 (But I got better).

                      I want to live forever. So far, so good.

                      Comment


                      • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

                        Originally posted by Slap Shot View Post
                        There's nothing wrong with him following the letter of the law. The problem is someone in his financial position crying about "taxing the rich" while the current letter of the law allows someone earning that much money to pay in at that rate while the middle class is getting raped. That's the problem and for once perhaps voters such as yourself would stop obfuscating where the objections come from.
                        Its pretty simple, fix the tax code. The people whining about Mitt should be whining about Congress and not Mitt. He has no control of tax code. Nor will he
                        I swear there ain't no heaven but I pray there ain't no hell.

                        Maine Hockey Love it or Leave it

                        Comment


                        • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

                          Originally posted by walrus View Post
                          Its pretty simple, fix the tax code. The people whining about Mitt should be whining about Congress and not Mitt. He has no control of tax code. Nor will he
                          More avoidance. Mitt doesn't want to fix it as in make it right, he wants to fix it as in, "I want to continue to file at 14% and I want to do it on the backs of the middle class". Once again that is the problem people have with this topic.

                          Comment


                          • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

                            Just an FYI, my tax rate was 13.2% of AGI. Guess I am more of a freeloader than Mitt.
                            CCT '77 & '78
                            4 kids
                            5 grandsons (BCA 7/09, CJA 5/14, JDL 8/14, JFL 6/16, PJL 7/18)
                            1 granddaughter (EML 4/18)

                            ”Any society that would give up a little liberty to gain a little security will deserve neither and lose both.”
                            - Benjamin Franklin

                            Banned from the St. Lawrence University Facebook page - March 2016 (But I got better).

                            I want to live forever. So far, so good.

                            Comment


                            • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

                              Some perspective on "tax cuts for the rich":

                              http://www.tsowell.com/images/Hoover%20Proof.pdf

                              Comment


                              • Re: 2012 Presidential Election Part II -- Charlotte, a National Treasure or sede vaca

                                Originally posted by unofan View Post
                                You realize the administrative costs for social security is something like 1%, right?
                                You realise he isn't referring to that, yes?

                                Comment

                                Working...
                                X