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Open thread October 16, 2012

Dan Crawford | October 16, 2012 6:00 pm

Tags: open thread Comments (6) | Digg Facebook Twitter |
6 Comments
  • Nancy Ortiz says:
    October 16, 2012 at 9:05 pm

    http://www.balloon-juice.com/
    Take a look. Says it all. NancyO

  • Anonymous says:
    October 16, 2012 at 9:12 pm

    THE BUSH TAX CUT AND NATIONAL SAVING – NBER Paper
    In 2001, joint filers on the AMT with incomes between $150,000 and $346,000 lost 25

    cents of exemptions for each added dollar of income (including capital gains). This had the

    effect of raising the marginal tax rate on income within this broad range by one-fourth of the

    statutory AMT marginal tax rate, which was 28 percent for most affected taxpayers. Hence, a

    dollar of capital gain income was subject to a marginal tax rate of 27 percent (20 + .25 x 28), not

    20 percent. With more taxpayers pushed onto the AMT, capital gains are potentially subject to

    much higher marginal tax rates. It is doubtful that President Bush intended to increase capital

    gains taxes, but this is one result of his plan.

    Mcwop

    http://www.nber.org/papers/w9012.pdf?new_window=1

    PS still going through the paper to see if they get national savings correctly.

    Federal Deficits – Net Imports = Net Private Saving

    This is not a hypothesis. It’s not a theory. It’s not my opinion or anyone else’s opinion. It is an accounting fact. In a closed economy (where money exports equal money imports), your annual savings, plus my annual savings, plus everyone else’s annual savings equals annual federal deficit spending, to the penny. In such an economy, Federal Deficits = Net Private Savings.

    This means, if the federal deficit is reduced $1, our combined savings will be reduced by exactly $1 — not $.99; not $1.01 — exactly $1.00.

    Today, the politicians in Washington are talking about a $4 trillion (!) deficit reduction. That means our savings will be reduced by $4 trillion. There are about 310 million people in America. A deficit reduction of $4 trillion will reduce the savings of each man, woman and child in America by an average of $12,900.

    http://rodgermmitchell.wordpress.com/2011/07/19/the-single-most-misunderstood-fact-in-all-of-economics-it-will-blow-your-mind/

    Mind blowing indeed, and against the grain of conventional wisdom.

  • sammy says:
    October 16, 2012 at 9:22 pm

    Romney kicking Obama’s ass again.

  • sammy says:
    October 16, 2012 at 10:04 pm

    Again the optics are horrendous. You have a guy who has never accomphlished anything in his life debating someone who has done a lot.

  • sammy says:
    October 16, 2012 at 10:09 pm

    you poured a lot into this empty vessel. A lot that you have to be sorry for.

  • Nancy Ortiz says:
    October 17, 2012 at 9:20 am

    I watched the debate until about 10P, when I was pretty sure O had R whipped. My impression was the opposite of sammy’s, and I suspect most Republicans’. I’m a Democrat and there you have it. NancyO

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