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Completely Unwoven: Business, Economics, and Tax Policy 4.0

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  • #241
    Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

    I added up all the taxes I paid in 2015:
    -- Social Security
    -- Medicare
    -- Fed Income Tax
    -- State income tax (to 2 different states)
    -- property tax
    -- vehicle tax
    -- sales tax
    -- all those taxes on phone bill, cable TV, utilities
    -- gasoline tax


    The entire tax burden from all of these combined: 42%

    That is not the top bracket from graduated rates, that is the entire tax bill from dollar $0 of income. (say the income was $100,000; that is $42,000 in taxes overall).

    and I am nowhere near rich.


    and this exercise always leaves me curious: for those who think some people are not "paying their fair share": what is a "fair share" anyway?

    I hear lots of people spouting off about "fair share" and I have politely asked the question of them many times (what is the "fair" share?), yet never once have I received a coherent answer. the best I get is "more than now" but with no specificity beyond that.

    For some people, a 100% marginal rate (above a certain dollar limit) actually, truly is considered by them to be "fair."
    Last edited by FreshFish; 04-09-2016, 09:28 AM.
    "Hope is a good thing; maybe the best of things."

    "Beer is a sign that God loves us and wants us to be happy." -- Benjamin Franklin

    "Being Irish, he had an abiding sense of tragedy, which sustained him through temporary periods of joy." -- W. B. Yeats

    "People generally are most impatient with those flaws in others about which they are most ashamed of in themselves." - folk wisdom

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    • #242
      Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

      Originally posted by FreshFish View Post
      I hear lots of people spouting off about "fair share" and I have politely asked the question of them many times (what is the "fair" share?), yet never once have I received a coherent answer. the best I get is "more than now" but with no specificity beyond that.

      For some people, a 100% marginal rate (above a certain dollar limit) actually, truly is considered by them to be "fair."
      As opposed to every single GOP member who breaks out the Laffer Curve, ignores the left side of the graph, and wants to continue to cut taxes because reasons...

      Comment

      • #243
        Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

        http://www.nytimes.com/interactive/2...76.mobile.html

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        • #244
          Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

          Larry Summers explains why the proles are wrong to oppose a system that has made him and his friends so rich.
          Cornell University
          National Champion 1967, 1970
          ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
          Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

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          • #245
            Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

            This guy is a national hero.
            Cornell University
            National Champion 1967, 1970
            ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
            Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

            Comment

            • #246
              Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

              Originally posted by Kepler View Post
              Larry Summers explains why the proles are wrong to oppose a system that has made him and his friends so rich.
              Hmm. Kos thinks there might actually be a pony somewhere around here.
              Cornell University
              National Champion 1967, 1970
              ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
              Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

              Comment

              • #247
                Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                Interesting.

                Regulators: 5 big banks get failing grades for crisis plans

                The two agencies found the five banks' plans are "not credible" or insufficient for an orderly restructuring in the event of bankruptcy. The regulators gave the banks an Oct. 1 deadline to fix the problems or face possible "more stringent" requirements. That could include ordering the banks to beef up their capital cushions against unforeseen losses. If the regulators still weren't satisfied, banks eventually could be forced to sell off assets.

                Wall Street appeared unruffled by the news, and stocks of major banks rose in early U.S. trading. Investors view the banks' shortcomings in their "living wills" mainly as a housekeeping problem rather than an indication of fundamental financial weakness.

                The financial component of the Standard & Poor's 500 index was up 1.6 percent, more than double the broader market.

                The regulators' announcement came in a week when several major banks are expected to report weak earnings for the first quarter.

                The big banks are in strong financial shape and are facing no threat of collapse. They sit on sturdy bases of capital that the regulators ordered them to shore up in recent years. The banking industry as a whole has recovered steadily since the financial crisis, racking up climbing quarterly profits.
                "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

                "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

                "Good news! We have a delivery." Professor Farnsworth

                Comment

                • #248
                  Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                  Originally posted by St. Clown View Post
                  Interesting.

                  Regulators: 5 big banks get failing grades for crisis plans
                  Working link---> http://bigstory.ap.org/article/897dd...s-crisis-plans
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                  As of 9/21/10:         As of 9/13/10:
College Hockey 6       College Football 0
BTHC 4                 WCHA FC:  1
                  Originally posted by SanTropez
                  May your paint thinner run dry and the fleas of a thousand camels infest your dead deer.
                  Originally posted by bigblue_dl
                  I don't even know how to classify magic vagina smoke babies..
                  Originally posted by Kepler
                  When the giraffes start building radio telescopes they can join too.
                  He's probably going to be a superstar but that man has more baggage than North West

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                  • #249
                    So I work for the local Sam's Club, and everyone's pay just broke double digits, as in more than $10/hour. I know Wally didn't have a change of heart, but is this a publicity thing?
                    Facebook: bcowles920 Instagram: missthundercat01
                    "One word frees us from the weight and pain of this life. That word is love."- Socrates
                    Patreon for exclusive writing content
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                    • #250
                      Originally posted by ShirtlessBob View Post
                      So I work for the local Sam's Club, and everyone's pay just broke double digits, as in more than $10/hour. I know Wally didn't have a change of heart, but is this a publicity thing?
                      Check your deductions. Something HAD to go up.
                      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.

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                      • #251
                        Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                        Originally posted by ShirtlessBob View Post
                        So I work for the local Sam's Club, and everyone's pay just broke double digits, as in more than $10/hour. I know Wally didn't have a change of heart, but is this a publicity thing?
                        Yes, search the web and you'll find plenty of news articles on it. They're following the leader, for a change, on their pay scales. Costco made this change some two or three years prior, then other retailers started doing the same. They saw that their employees were more productive than before, but nobody ever quantified - at least publicly - the productivity change to determine if it was worth it for anything other than getting good pub to drive more customers through the doors. Add to that, they're sort of just getting in front of the minimum wage changes that are going into effect over the next few years.
                        "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

                        "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

                        "Good news! We have a delivery." Professor Farnsworth

                        Comment

                        • #252
                          Originally posted by St. Clown View Post
                          Yes, search the web and you'll find plenty of news articles on it. They're following the leader, for a change, on their pay scales. Costco made this change some two or three years prior, then other retailers started doing the same. They saw that their employees were more productive than before, but nobody ever quantified - at least publicly - the productivity change to determine if it was worth it for anything other than getting good pub to drive more customers through the doors. Add to that, they're sort of just getting in front of the minimum wage changes that are going into effect over the next few years.
                          Thank you. This also explains why my hours have held steady instead of being slashed.
                          Facebook: bcowles920 Instagram: missthundercat01
                          "One word frees us from the weight and pain of this life. That word is love."- Socrates
                          Patreon for exclusive writing content
                          Adventures With Amber Marie

                          Comment

                          • #253
                            Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                            "When you want to do something evil put it inside something boring."

                            A study to be released Thursday says that for each dollar America’s 50 biggest companies paid in federal taxes between 2008 and 2014, they received $27 back in federal loans, loan guarantees and bailouts.
                            Cornell University
                            National Champion 1967, 1970
                            ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
                            Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

                            Comment

                            • #254
                              Originally posted by Kepler View Post
                              "When you want to do something evil put it inside something boring."
                              Return on Investment. Is there any data on campaign contributions (legal bribes) and tax breaks?
                              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

                              • #255
                                Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                                http://gawker.com/report-harriet-tub...-20-1772055944

                                Huh
                                Code:
                                As of 9/21/10:         As of 9/13/10:
College Hockey 6       College Football 0
BTHC 4                 WCHA FC:  1
                                Originally posted by SanTropez
                                May your paint thinner run dry and the fleas of a thousand camels infest your dead deer.
                                Originally posted by bigblue_dl
                                I don't even know how to classify magic vagina smoke babies..
                                Originally posted by Kepler
                                When the giraffes start building radio telescopes they can join too.
                                He's probably going to be a superstar but that man has more baggage than North West

                                Comment

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