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Completely Unwoven: Business, Economics, and Tax Policy 4.0

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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% :eek:

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."
 
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Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

FreshFish said:
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."
Click to expand...

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... :rolleyes:
 
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.
Click to expand...
 
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?
 
Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

ShirtlessBob said:
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?
Click to expand...

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.
 
St. Clown said:
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.
Click to expand...
Thank you. This also explains why my hours have held steady instead of being slashed.
 
Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

dxmnkd316 said:
Why's that?
Click to expand...

Jackson signed the Indian Removal Act into law, which directly led to the Trail of Tears. Add to that, he was the first president to really get into the patronage system when it came to hiring people for government jobs.

I also like the idea of having our first ever treasury secretary who was one of - if not the - great champions of establishing a federal currency actually be represented on at least one denomination of US currency.
 
Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

St. Clown said:
Jackson signed the Indian Removal Act into law, which directly led to the Trail of Tears. Add to that, he was the first president to really get into the patronage system when it came to hiring people for government jobs.

I also like the idea of having our first ever treasury secretary who was one of - if not the - great champions of establishing a federal currency actually be represented on at least one denomination of US currency.
Click to expand...

Jackson did two admirable things that I know of.

1. He probably saved the Union.

2. More importantly, he stood by his girl.

On the flip side, well, yeah, genocide.

But it's actually a favor to him, since he loathed the idea of a central bank. Everybody involved can rest in peace, here. Good for Harriet.

Edit: it appears Jackson will still be on the $20, but on the back, so I guess when Barney Frank gets on a bill Santorum will be on the back.
 
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