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Author Topic: I Can Afford Higher Taxes. But They’ll Make Me Work Less.  (Read 1459 times)

vaskidmark

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I Can Afford Higher Taxes. But They’ll Make Me Work Less.
« on: October 12, 2010, 09:03:15 AM »
http://www.nytimes.com/2010/10/10/business/economy/10view.html?_r=4

Harvard professor of economics explains why.

In the New York Effing Times, no less.

To take a writing assignment (for the NYT??) or not:

Quote
HERE’S the bottom line: Without any taxes, accepting that editor’s assignment would have yielded my children an extra $10,000. With taxes, it yields only $1,000. In effect, once the entire tax system is taken into account, my family’s marginal tax rate is about 90 percent. Is it any wonder that I turn down most of the money-making opportunities I am offered?

By contrast, without the tax increases advocated by the Obama administration, the numbers would look quite different. I would face a lower income tax rate, a lower Medicare tax rate, and no deduction phaseout or estate tax. Taking that writing assignment would yield my kids about $2,000. I would have twice the incentive to keep working.


That such would come out of the pen of a Harvard Professor of Economics?  Amazing!

stay safe.

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If cowardly and dishonorable men sometimes shoot unarmed men with army pistols or guns, the evil must be prevented by the penitentiary and gallows, and not by a general deprivation of a constitutional privilege.

Hey you kids!! Get off my lawn!!!

They keep making this eternal vigilance thing harder and harder.  Protecting the 2nd amendment is like playing PACMAN - there's no pause button so you can go to the bathroom.

TommyGunn

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Re: I Can Afford Higher Taxes. But They’ll Make Me Work Less.
« Reply #1 on: October 12, 2010, 01:25:26 PM »
Quote from: vaskidmark on October 12, 2010, 09:03:15 AM

 

That such would come out of the pen of a Harvard Professor of Economics?  Amazing!stay safe.



Yeah, amazing isn't it??  Neal Boortz was discussing this yesterday.  I appreciate the link; I printed a copy to save for my archives .... these things are scarcer than "hen's teeth."   :laugh:
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MOLON LABE   "Through ignorance of what is good and what is bad, the life of men is greatly perplexed." ~~ Cicero

AZRedhawk44

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Re: I Can Afford Higher Taxes. But They’ll Make Me Work Less.
« Reply #2 on: October 12, 2010, 02:09:42 PM »
Wow, Bush is so kind in comparison to Obama.

Taking only 80% of the guy's value in labor, rather than 90%. ;/  Wow.  My hero.

Government sucks.

[/looks around for reset button]
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"But whether the Constitution really be one thing, or another, this much is certain - that it has either authorized such a government as we have had, or has been powerless to prevent it. In either case, it is unfit to exist."
--Lysander Spooner

I reject your authoritah!

vaskidmark

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Re: I Can Afford Higher Taxes. But They’ll Make Me Work Less.
« Reply #3 on: October 12, 2010, 09:02:52 PM »
Quote from: AZRedhawk44 on October 12, 2010, 02:09:42 PM
Wow, Bush is so kind in comparison to Obama.

Taking only 80% of the guy's value in labor, rather than 90%. ;/  Wow.  My hero.

Government sucks.

[/looks around for reset button]

Admittedly it aint much of a differnce, but it is a difference.

Straw
Camel's back
??
Profit or Not

stay safe.
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If cowardly and dishonorable men sometimes shoot unarmed men with army pistols or guns, the evil must be prevented by the penitentiary and gallows, and not by a general deprivation of a constitutional privilege.

Hey you kids!! Get off my lawn!!!

They keep making this eternal vigilance thing harder and harder.  Protecting the 2nd amendment is like playing PACMAN - there's no pause button so you can go to the bathroom.

MechAg94

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Re: I Can Afford Higher Taxes. But They’ll Make Me Work Less.
« Reply #4 on: October 13, 2010, 10:02:08 AM »
Is there are link that doesn't require login?
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“It is much more important to kill bad bills than to pass good ones.”  ― Calvin Coolidge

Headless Thompson Gunner

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Re: I Can Afford Higher Taxes. But They’ll Make Me Work Less.
« Reply #5 on: October 13, 2010, 10:03:27 AM »
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Headless Thompson Gunner

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Re: I Can Afford Higher Taxes. But They’ll Make Me Work Less.
« Reply #6 on: October 13, 2010, 10:10:10 AM »
Quote from: AZRedhawk44 on October 12, 2010, 02:09:42 PM
Wow, Bush is so kind in comparison to Obama.

Taking only 80% of the guy's value in labor, rather than 90%. ;/  Wow.  My hero.

Government sucks.

[/looks around for reset button]
I'll take your share of the Bush tax cuts if you don't want it.

 ;/

This goes to show just how important seemingly minor adjustments in the tax code can be.  If you intend to build some real wealth for yourself, then it's critical to support incremental improvements in the tax codes, however small, whenever possible.  
« Last Edit: October 14, 2010, 12:58:07 PM by Headless Thompson Gunner »
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Ned Hamford

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Re: I Can Afford Higher Taxes. But They’ll Make Me Work Less.
« Reply #7 on: October 13, 2010, 01:17:34 PM »
The comments in response to that article are just plain scary.

I hate to break things down as simple as ants and grasshoppers, but there are ALOT of grasshoppers apparently active with the NYT's commenting.

You would think that Rand's caricatures were just that, but I seem to see them more and more... and they VOTE!

 [tinfoil]
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Improbus a nullo flectitur obsequio.
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