Armed Polite Society
Main Forums => Politics => Topic started by: vaskidmark on October 12, 2010, 09:03:15 AM
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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:
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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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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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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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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Is there are link that doesn't require login?
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Is there are link that doesn't require login?
http://finance.yahoo.com/news/I-Can-Afford-Higher-Taxes-But-nytimes-1335412413.html?x=0
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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.
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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]