It’s a very busy day here in the CatBox. WWW id due in 20 minutes and we have a big load of chores to do. This is my only article today.
Jig Zone Puzzle:
Today’s took me 3:41 (average 5:35). To do it, click here. How did you do?
Short Takes:
From YouTube: Barry McGuire – Eve of Destruction
Though released in 1965, this song is still appropriate today. RESIST!!
From The New Yorker: In a bold gambit to end the government shutdown, the House Speaker, Nancy Pelosi, said on Saturday that she would bypass Donald J. Trump and negotiate directly with the Russian President, Vladimir Putin.
“I owe it to the American people to bring this shutdown to the swiftest possible conclusion, and so I’m avoiding the middleman,” she said.
Dang, Andy! I had no idea that Nancy was so smart! RESIST!!
From Common Dreams: As many historians, economists, and informed citizens were forced to point out in the wake of the freak-out over a proposal by Rep. Alexandria Ocasio-Cortez to raise the current tax rate on the very wealthiest Americans to 70 percent, such a rate is not at all unprecedented and higher rates were the norm for a large portion of last century.
And one of the reasons that much higher rates were once very popular was because they were able to generate lots of revenue that was then put to good use. And, since most people are not extremely rich, there was popular support for such progressive taxation.
What Ocasio-Cortez is actually suggesting, said economist and New York Times columnist Paul Krugman, is "what top public finance economists have been saying for some time" and "not at all outlandish."
I love the idea, but 70%? Why so low? RESIST!!
Cartoon:
Thank God we beat them!
13 Responses to “Open Thread – 1/6/2018”
Sorry, the comment form is closed at this time.
5:33 I kept thinking I would not like to be the person who drew the short straw and had to count those spikes (I would have counted more than 18, certainly.)
YouTube – True … except that I would say “again” rather than still, and not be too picky about what number of “again” it is this time.
TNY – I’m not surprised at the idea of her being that smart (and also smart enough to CHA). But you know Outin will balk. He doesn’t like dealing with people (at least not on his side of the table) who know what they’re doing.
CD – One difficulty when discussing tax rates above 50% is the almost everyone gets a knee-jerk reaction that someone in a 70% bracket will only be able to keep 30% of their income (even when the income in question is $10 million, so that the person would keep $3 million, which seems fair to me.) But that is not how it works. Everyone who pays taxes in the higher brackets pays out of every bracket from the highest which applies to them on down. For example, let’s just say the lowest two brackets are 0% on 0-$99,999 and 50% on $100,000-$199,000, and that you make $150,000. You would pay zero on the first $100,000, and 50% on the $50,000 whichis over the first $100,000, for a total of $25,000 and a net of 17% on the whole thing (and rounded up at that.) No one, NO ONE, ever pays the percentage of income that the top bracket includes. Anyone can do this math (on any arbitrary figure) if you know all the brackets. Of course that is why the GOP never talks about all the brackets. They want you to have that knee-jerk reaction. A 70% bracket is roughly what was in effect during the fifties, which is sometimes considered to be the “Great” Amerca that Trumpettes want to have “Again,” and which did have a lot in common with them
Cartoon – It certainly is!
Happy Epiphany! RESIST!
LOVE your Epiphany picture & words!!
Exactly right & an excellent point.
I hope this graphic example might help explain it with 37% being the highest tax bracket. Say someone makes one million dollars – using these hypothetical tax brackets, here’s how it’d be calculated:
= $150,689.50 + ($500,000.00 x 37%)
= $150,689.50 + ($185,000.00)
= $335,689.50
NOT $370,000.00
You bet. And right on the money (pun intended.) I deliberately used a simple example exactly because it was simple.
YT: I remember when this song came out, and our military used this song (and a few others) as their mantle, into battle. This song applies today, with the current state of affairs in Washington. How very, very sad, and depressing. Truth hurts!!
NYer: Word.
CD: Personally, I think it’s an excellent proposal. We’ll be hearing more from Ms. Ocasio-Cortez too!!
Cartoon: Thank Gawd, and Amen to that, for sure!!!
The game yesterday was horrible. Colts 21 to our 7. Someone needs to fix the troubles, as we were outplayed by the Colts, for sure. Hi, WWWendy! Hope that you get all your chores done, and then you both can rest, and enjoy the rest of the day. Springlike weather here. Take care, and Thanks, Tom.
This just in: “The shutdown will end when Fox News tells Trump to end it.” ~ Andrew J. ~
It really does feel as though we are on the eve of destruction. Just 12 years to stop global warming, according to some scientists. The Doomsday Clock is at two minutes to midnight. Dang, I need a beer.
NYT: That seems a little too close to the truth.
CD: We need more bold ideas like this! Also, we need a mechanism to keep the 1% from abandoning this country and finding places where the tax rates on their obscene wealth are lower. We also need to tighten rules on tax havens – remember the Paradise Papers? Way to go, Ocasio-Cortez – that’s a good start!
BRAVO AOC!!! AND she can dance!!! ??
https://edition.cnn.com/2019/01/04/politics/ocasio-cortez-dancing-video-trnd/index.html
Wingnuts are so scared of her!!
Maybe Communal Taxation will become popular again. It was the means for building the greatest country in the world. During the time of those high tax rates we also saw the greatest growth period in this country’s history proving that high tax rates do not kill growth as Republicans have claimed for decades. Constant tax cuts and the “No New Tax” mantra from Republicans for decades has given us our high debt and little money to improve the systems of our society. Trump’s “greatest tax cut in history” will really put us in the hole. This failed tax policy has to be reversed.
U/T: “Eve of Destruction” does feel appropriate, and reminds me of another ’60’s song, by “The Who” whose lyrics include hoping “…we don’t get fooled again!” It seems that humans are sooo easily led by the nose, and fooled, manipulated, into believing all kinds of “hogwash,” to use my grandfather’s favorite pejorative term.
New Yorker: Putin probably is the guy to go to, but, I’ll bet,he is too busy laughing to bother to call off his lackey.
CD: As much as the conservatives will fight, tooth and nail, against this concept, it makes huge sense. The GOPIGGIES problem with it is that it would obviate their ability to tell veterans, and anyone else seeking funding for a social good program “Oh, sure, except there is no money in the budget for that!”
‘Toon: Indeed! The GOP is a terrorist organization.
YT: Pat told the words that I was going to say about the song…that it pertains to the current state of affairs that our country is currently suffering with all because of our crazy leader.
TNY: Don’t blame her at wanting to skip the middleman, tRump, but pUtin??
CD: Power to Ms. Ocaseo-Cortez.
Cartoon: That’s for sure.
4:04 My muscle relaxant nearly made me fall asleep on top of it!
Barry McGuire: True in 1965, true in 2019. How much longer can we keep on living on the Eve of Destruction? Night must ultimately follow, we can only hope dawn will come for us too.
TNY: “Avoid the middleman” Why did nobody think of that before! Even the dogs at the shelter would have gotten themselves a better deal than “best deal maker of all” Drumpf.
Taxes: Excellent proposal, Ms. Ocasio-Cortez. I’ve always live in countries with applied progressive taxations.The Dutch had 4 or 5 progressive scales until the end of 2018, but did a great overhaul per 1-1-2019 , combined with a VAT increase on the lower taxes on food and some clothing. Altogether this is going to work out badly for the lowest incomes, I think, There are now two systems, one is specially designed for retired people.
Australia:
Taxes is one thing, rates another, general hight of income and cost of living are another. Before you jump to conclusions: we didn’t move to Oz because it is a tax paradise. We may pay a less, but salaries are much higher here too, something we do not profit from with out Dutch pensions, and the cost of living is therefore also very high. Even with lower taxes we find living here more expensive than in The Netherlands. Still, we’re happy with the choice we made.
It all goes to show how complex tax rates are, even at individual levels. Most of the rich can hire people to find them loopholes to pay less and then deduct the costs of these services too. Companies not paying taxes is a whole other story.
CArtoon: Thank all your Democratic voters you’ve beaten them, TomCat
Puzzle — 4:11 Well I felt the point of this puzzle! Obviously I was not sharp enough.
YouTube — Although the song was released in 1965, the images are historic and up to date. I remember so many of these images and they make me weep at the inhumanity towards humanity and the planet. And that inhumanity continues still to this day. Sigh . . .
The New Yorker — Definitely, Nancy has the correct idea — go straight to the top. Can you imagine Trump’s indignation when, or even if, he realises he has been bypassed!
Common Dreams — Excellent idea! Put the American Dream back within the reach of We the People.
Cartoon — But there still is a terrorist in the WH and some in the Senate!
We have had wind and rain warnings for the past week or more and I understand that the storm that hit us is now lashing Seattle and Portland. The last big storm in December just before Christmas really screwed Christmas for a lot of people. Over 750,000 homes and businesses without power. Some 60,000 were without power through Christmas. All lights were back on by New Year’s Eve . . . finally!
Thanks and tired hugs to all.