Pages

3 comments

Jump to bottom
1 lostlakehiker  Tue, Nov 27, 2012 1:34:34pm

The risk level matters here. In the 1950's, with the US just about the only industrial base left standing, investment in plant and equipment had a big tailwind.

But suppose the investment is a risk that either doubles your money or halves it, and suppose your marginal tax rate is 50%. The expected value before is strongly positive. But what about after taxes? Any losses are not deductible except to the tune of a meaningless $3000 a year. Winnings, on the other hand, will be taxed at 50 percent. Now, the expected after tax return is near zero.

Tax law should be constructed to bring in revenue from the public in general, with emphasis on those who can best afford it. But an eye should also be kept on the likely consequences of tax law changes. Kennedy famously cut rates and reaped a big harvest of extra revenue. Did that make him a conservative?

2 ReamWorks SKG  Tue, Nov 27, 2012 1:39:19pm

I vehemently disagree with him. He is out of touch.

Read Nate Silver for the other side:

[Link: fivethirtyeight.blogs.nytimes.com...]

(I think we ALL should pay a fair percentage our our income. I favor raising all the tax brackets.)

3 EPR-radar  Tue, Nov 27, 2012 7:51:36pm

re: #2 ReamWorks SKG

Nate Silver seems to be arguing against creating a tax bubble, where the tax rates are not applied marginally. This appears to be an idiotic idea being floated by some in Congress to get more revenue without touching the rates. Hopefully, this goes nowhere.

Buffet's proposal as in the OP appear to be different (basically an AMT for the wealthy).

For what it is worth, I think the AMT (and any relatives) of it are basically a bad idea. If the ordinary definition of taxable income has become so broken that ultra-wealthy people with massive income actually have no taxable income (the issue that led to the creation of the AMT), then the better solution is to repair the definition of taxable income.


This page has been archived.
Comments are closed.

^ back to top ^

TwitterFacebook

Turn off all ads for a full year by subscribing!
For about 33 cents a day (per month) or 22 cents a day (per year), our subscription option turns off all advertisements at LGF!
Read more...

► LGF Headlines

  • Loading...

► Tweeted Articles

  • Loading...

► Tweeted Pages

  • Loading...

► Top 10 Comments

  • Loading...

► Bottom Comments

  • Loading...

► Recent Comments

  • Loading...

► Tools/Info

► Tag Cloud

► Contact

You must have Javascript enabled to use the contact form.
Your email:

Subject:

Message:


Messages may be published unless you request otherwise.
Tech Note:
Using the Contact Form
LGF Pages

This button leads to the main index of LGF Pages, our user-submitted articles. You can post your own LGF Pages simply by registering a free account with us.

Create a Page

This is the LGF Pages posting bookmarklet. To use it, drag this button to your browser's bookmark bar, and title it 'LGF Pages' (or whatever you like). Then browse to a site you want to post, select some text on the page to use for a quote, click the bookmarklet, and the Pages posting window will appear with the title, text, and any embedded video or audio files already filled in, ready to go.

Or... you can just click this button to open the Pages posting window right away.

Last updated: 2014-03-07 2:19 pm PST

LGF User's Guide
Recent Pages
Randall Gross
San Diego Comic Con 2014 (SDCC) Cosplay Music Video
To celebrate us recently hitting 100,000 Subscribers & 100 videos make sure you watch to the end for a little give away competition. To enter you must tweet us who you would like to see Nathan Fillion & Adam ...

3 hours, 12 minutes ago
Views: 71 • Comments: 0
Tweets: 0 • Rating: 1
Rightwingconspirator
The Stark Beauty Of The Flaw In the Gem. Literally.
It's late, I'm beat and just signed off from a good discussion in Obdi's Page tonight. But I ran across this after signing out and had to share it. I found a kindred style of photography from a part of ...

23 hours, 43 minutes ago
Views: 189 • Comments: 2
Tweets: 1 • Rating: 9
CriticalDragon1177
Skepchick - Food is for White Liberals What Sex Is For The Religious Right
An interesting commentary by Julia Burke, on the obsession some people on the far left have with food, and how it is similar to how some people on right feel about sex. Do you agree? Do you think the analogy ...

1 day, 7 hours ago
Views: 304 • Comments: 7
Tweets: 1 • Rating: 1
EiMitch
Cracked: 5 Reasons The Classic American Summer is Totally Dead
They could've called this article "Look at how 'supply-side' economics, anti-environmentalism, and all-around pro-oligarch legislation and ideology has destroyed some of the most iconic, classic Americana." cracked.com Oh, and gentrification-based laws are also robbing us of the classic ice-cream truck ...

1 day, 7 hours ago
Views: 205 • Comments: 0
Tweets: 0 • Rating: 0
_RememberTonyC
Qatar, Bergdahl, and Hamas
One thing we have learned in the current conflict is that Hamas has three main sponsors: Turkey, Iran, and Qatar. So when Bergdahl was released and the five taliban bigs were released into the "custody" of Qatar, we basically handed ...

2 days, 2 hours ago
Views: 187 • Comments: 0
Tweets: 0 • Rating: 0
Skip Intro
Outside Money Drives a Deluge of Political Ads
WASHINGTON -- An explosion of spending on political advertising on television -- set to break $2 billion in congressional races, with overall spots up nearly 70 percent since the 2010 midterm election -- is accelerating the rise of moneyed ...

3 days, 12 hours ago
Views: 233 • Comments: 1
Tweets: 4 • Rating: 3
Romantic Heretic
Preventing Poverty Not Allowed As A Goal for Charity
The Canada Revenue Agency (Canada's equivalent of the IRS) has told OXFAM Canada that it cannot list 'preventing poverty' as a goal, only 'alleviating' it. The reason is "Relieving poverty is charitable, but preventing it is not." This is just ...

6 days, 9 hours ago
Views: 531 • Comments: 12
Tweets: 0 • Rating: 5
FemNaziBitch
Safer Era Tests Wisdom of ‘Broken Windows’ Focus on Minor Crime
While the apparent chokehold fueled much of the initial public outcry, community leaders have begun asking whether focusing police officers so intently on such petty offenses makes sense in a city that is far different and far safer than ...

6 days, 16 hours ago
Views: 420 • Comments: 2
Tweets: 0 • Rating: 1
Mentis Fugit
Frisson
Over at the quirky Riddled blog, I encountered this music video link. I have the album, but I had last listened long ago, and I had forgotten the lyrics. The lengthy, moody intro slowly drew me back thirty five years, ...

1 week, 2 days ago
Views: 295 • Comments: 0
Tweets: 0 • Rating: 0
BadExampleMan
The painful futility of war
This makes me furious. These men pledged their loyalty to their country and their country betrayed them. It treated them as disposable, throwing their lives away in a war that was premised on lies, that was chosen gleefully, and that ...

1 week, 3 days ago
Views: 474 • Comments: 0
Tweets: 1 • Rating: 1
 Frank says:

They're serving burgers in the back!