tag:blogger.com,1999:blog-5592542.post6578444029594502242..comments2024-03-18T17:28:44.693-07:00Comments on Rondam Ramblings: The why-I-want-the-government-to-raise-my-taxes FAQRonhttp://www.blogger.com/profile/11752242624438232184noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-5592542.post-72270098890871231302010-12-21T13:16:26.237-08:002010-12-21T13:16:26.237-08:00> Where did you ever get that idea? The top bra...> Where did you ever get that idea? The top bracket has never been anywhere near that low.<br /><br />I just discovered that the link doesn't work, so let's try this again. The chart I found for marginal tax rates is here:<br /><br />http://www.truthandpolitics.org/top-rates.php<br /><br />According to this chart, the top marginal rate goes as low as 30,950 in 1989. I do not know howEpsilon Givenhttps://www.blogger.com/profile/16772806403046781521noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-10400308852432647962010-12-20T17:45:14.539-08:002010-12-20T17:45:14.539-08:00> it was my understanding that our highest marg...> it was my understanding that our highest margin was about $80,000<br /><br />Where did you ever get that idea? The top bracket has never been anywhere near that low.<br /><br />> raising taxes to 90% on income above $80,000 would be devastating<br /><br />Probably. But that's a straw man. No one is advocating that.<br /><br />> 30 years would also give the market plenty of time to Ronhttps://www.blogger.com/profile/11752242624438232184noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-25086613845344607192010-12-20T12:55:42.157-08:002010-12-20T12:55:42.157-08:00> > If we were to raise our taxes to 90% wit...> > If we were to raise our taxes to 90% without changing the margins, the economy certainly would be devastated!<br /><br />> That is far from certain. One possible result of raising top marginal tax rates to their 1950's-60's levels is to restore the faith of our creditors that we will not default on our debt, which at the moment is a real possibility. The result could be an Epsilon Givenhttps://www.blogger.com/profile/16772806403046781521noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-70873885647533119302010-12-20T09:39:43.149-08:002010-12-20T09:39:43.149-08:00> we had just bombed the heck out of Japan and ...> we had just bombed the heck out of Japan and Europe<br /><br />In 1969 unemployment was 3.5%. We had not "just" bombed anyone, that was 25 years ago. And top marginal tax rates had been high for 30 years. If high marginal taxes could cause unemployment, surely 30 years would be long enough for the effect to manifest itself.<br /><br />> If we were to raise our taxes to 90% Ronhttps://www.blogger.com/profile/11752242624438232184noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-68972543638308245812010-12-20T07:53:18.552-08:002010-12-20T07:53:18.552-08:00This morning I realized one significant factor in ...This morning I realized one significant factor in the 1950's and 1960's prosperity that Ron overlooked: we had just bombed the heck out of Japan and Europe, and the Soviet Union and China were busy purging their citizens. In the meantime, our factories, and our populations, were largely intact, relatively free, and had no real competition.<br /><br />So, perhaps instead of messing with Epsilon Givenhttps://www.blogger.com/profile/16772806403046781521noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-31634267508006472712010-12-20T05:32:59.397-08:002010-12-20T05:32:59.397-08:00The entire problem with the 'system' and g...The entire problem with the 'system' and government spending is that most people don't realize the fraud that the Federal Reserve has perpetrated on the people.<br /><br />When the Federal Government (here after FG) needs money, it goes to the Federal Reserve (hereafter FR) with an IOU. The FR takes that IOU and gives the FG Federal Reserve Notes (here after FRN).<br /><br />These S.Broadbenthttps://www.blogger.com/profile/04363231411291860936noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-24553967821775217222010-12-16T14:41:11.815-08:002010-12-16T14:41:11.815-08:00Arrg! That's just employment data! It's ...Arrg! That's just employment data! It's not even a fraction of what I want to look at!<br /><br />It doesn't even begin to address the other factors I'd like to look at, as well. (It took a little bit of work, but I was able to find marginal tax rates, and unemployment, but I wasn't able to find interest rates.)<br /><br />Oh, well, I guess there's only so much you Epsilon Givenhttps://www.blogger.com/profile/16772806403046781521noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-28282859071200221712010-12-16T09:35:38.314-08:002010-12-16T09:35:38.314-08:00> You state this as though the tax rate is the ...> You state this as though the tax rate is the only thing that affects the economy.<br /><br />No. It is simply a fact. Obviously there are other things besides taxes that affect the economy.<br /><br />> I'd like to see the correlation, ... I only have income tax rates going back to 1913, and unemployment rates back to 1948<br /><br />Unemployment data only goes back to 1940:<br /><br Ronhttps://www.blogger.com/profile/11752242624438232184noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-29984569136903092902010-12-16T07:22:49.164-08:002010-12-16T07:22:49.164-08:00> > The idea that taxing and spending would ...> > The idea that taxing and spending would create jobs is also a nice theory, but it is also not supported by the facts.<br /><br />> Actually, that's not true either. In the '50s and '60s the top marginal tax rates were 90% but unemployment was less than 5%.<br /><br />> It's really a very strong correlation: high marginal tax rates in the top bracket result in low Epsilon Givenhttps://www.blogger.com/profile/16772806403046781521noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-44605445687303418052010-12-15T08:47:50.604-08:002010-12-15T08:47:50.604-08:00> The idea that taxing and spending would creat...> The idea that taxing and spending would create jobs is also a nice theory, but it is also not supported by the facts.<br /><br />Actually, that's not true either. In the '50s and '60s the top marginal tax rates were 90% but unemployment was less than 5%.<br /><br />It's really a very strong correlation: high marginal tax rates in the top bracket result in low unemployment, Ronhttps://www.blogger.com/profile/11752242624438232184noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-9472058092016459682010-12-15T07:35:45.614-08:002010-12-15T07:35:45.614-08:00> That depends on what you think our problem is...> That depends on what you think our problem is. If you think our problem is purely monetary then you're right, raising my taxes won't make a dent. But if you think, as I do, that our problem is one of fundamental attitudes, then setting a visible example might actually help.<br /><br />I had similar thoughts as I heard about the bill that would extend the current tax rate. ApparentlyEpsilon Givenhttps://www.blogger.com/profile/16772806403046781521noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-58142104259816785152010-12-14T13:47:46.512-08:002010-12-14T13:47:46.512-08:00> I asked my question, more because your answer...> I asked my question, more because your answers imply that raising taxes will solve our problems. It won't, and it will hurt our economy to boot.<br /><br />That depends on what you think our problem is. If you think our problem is purely monetary then you're right, raising my taxes won't make a dent. But if you think, as I do, that our problem is one of fundamental attitudes, Ronhttps://www.blogger.com/profile/11752242624438232184noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-69665877751689697272010-12-14T10:55:23.380-08:002010-12-14T10:55:23.380-08:00> Epsilon, did you not read the post? The very ...> Epsilon, did you not read the post? The very first question is:<br /><br />> Q: Why do you want the government to raise your taxes?<br /><br />> A: I don't.<br /><br />> I don't think the government "deserves" the money, I don't want to "enable" out-of-control spending. But we live in a democracy, and as long as our elected representatives continue Epsilon Givenhttps://www.blogger.com/profile/16772806403046781521noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-81199367057755482192010-12-14T10:03:12.595-08:002010-12-14T10:03:12.595-08:00@Epsilon, did you not read the post? The very fir...@Epsilon, did you not read the post? The very first question is:<br /><br />Q: Why do you want the government to raise your taxes?<br /><br />A: I don't.<br /><br />So I don't think the government "deserves" the money, I don't want to "enable" out-of-control spending. But we live in a democracy, and as long as our elected representatives continue to authorize Ronhttps://www.blogger.com/profile/11752242624438232184noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-80734148279315015112010-12-14T07:57:05.132-08:002010-12-14T07:57:05.132-08:00Ron, I can't help but have some of questions: ...Ron, I can't help but have some of questions: Why the heck do you think our Government *deserves* a single penny more than it's getting right now?!? Why the heck do you *want to enable* out-of-control government spending?!? And what makes you think that the Government will do a better job at spending this money, than the people who originally held it?!? This is assuming, of course, Epsilon Givenhttps://www.blogger.com/profile/16772806403046781521noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-75943345497537653552010-12-08T23:24:08.087-08:002010-12-08T23:24:08.087-08:00> Q: Doesn't it make more sense to let rich...> Q: Doesn't it make more sense to let rich people keep their money so they can invest it and create jobs so we can grow the economy and get ourselves out of debt that way?<br /><br />No. And stop spamming my blog.Ronhttps://www.blogger.com/profile/11752242624438232184noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-24752151315819944442010-12-04T10:29:34.859-08:002010-12-04T10:29:34.859-08:00> But the more serious debt problem is -- the m...> But the more serious debt problem is -- the more voters are concerned about it.<br /><br />I hope you're right. Time will tell.Ronhttps://www.blogger.com/profile/11752242624438232184noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-91560418724310817152010-12-04T10:13:26.507-08:002010-12-04T10:13:26.507-08:001) Budget cutting worked just fine in 1994 - 2000....1) Budget cutting worked just fine in 1994 - 2000.<br />If there was no power gridlock -- the government would outspend economy growth.<br />But it did not happen, which was good.<br /><br />2) Devaluing currency works just up to certain point. After that point alternative currency takes over and refinancing debt is getting extremely hard.<br />Which would really push toward cutting spending.<br Dennis Gorelikhttps://www.blogger.com/profile/17700219093521377626noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-86845136917903358692010-12-04T09:55:16.974-08:002010-12-04T09:55:16.974-08:00> The best result in trimming spendings is acco...> The best result in trimming spendings is accomplished when neither of parties controls the power (government gridlock).<br /><br />We tried that in 1994. It didn't work then. I'm not optimistic it will work now. (Yes, we balanced the budget, but it wasn't because Congress cut spending, it was because revenues grew as a result of the Internet bubble.)<br /><br />> Another Ronhttps://www.blogger.com/profile/11752242624438232184noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-4151768219272055622010-12-04T00:53:10.812-08:002010-12-04T00:53:10.812-08:00The best result in trimming spendings is accomplis...The best result in trimming spendings is accomplished when neither of parties controls the power (government gridlock).<br />For example, if President is Democrat and the Congress is controlled by Republicans -- it's a good start.<br />Fortunately it would start pretty soon.<br /><br />Another way to trim spending is to push government to the brink of bankruptcy.<br />California is getting Dennis Gorelikhttps://www.blogger.com/profile/17700219093521377626noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-27620989202157943382010-12-02T19:15:18.060-08:002010-12-02T19:15:18.060-08:00Heh, I just got to see myself and it was not as ba...Heh, I just got to see myself and it was not as bad as I thought. One of the weird things about doing a remote interview is that you can't see yourself or the person you're talking to, and there's no indication when you're visible to the audience. There's an interesting candid moment right at the end when I thought the camera was already off :-)Ronhttps://www.blogger.com/profile/11752242624438232184noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-4929820143256066822010-12-02T16:04:29.821-08:002010-12-02T16:04:29.821-08:00Thanks. It felt like a disaster to me. After it ...Thanks. It felt like a disaster to me. After it was over I found myself wishing I'd said, "I can give you a lecture if you want to see what one sounds like."Ronhttps://www.blogger.com/profile/11752242624438232184noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-13834869969674202012010-12-02T15:56:54.509-08:002010-12-02T15:56:54.509-08:00Right on! Just saw you on Cavuto on Fox Business....Right on! Just saw you on Cavuto on Fox Business. Loved your reactions to his bizarre questions.<br /><br />That guy thinks you don't have a right to "lecture" rich people, but he lectures against the poor every night. <br /><br />Keep up the fight and I hope to see you on other shows soon!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5592542.post-2624444605816353482010-11-30T17:53:46.399-08:002010-11-30T17:53:46.399-08:00> The idea that rich people should get a tax-cu...> The idea that rich people should get a tax-cut at the same time that millions of Americans have lost their jobs and/or their homes and are struggling to put food on the table can only be described as grotesque.<br /><br />You obviously don't understand the conservative mindset. On the conservative view, what is grotesque is punishing hard-working rich people, who have a God-given right Ronhttps://www.blogger.com/profile/11752242624438232184noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-15493638161440970842010-11-30T14:16:20.287-08:002010-11-30T14:16:20.287-08:00Ron, I am also a signer and I think everything you...Ron, I am also a signer and I think everything you've said is well-said indeed. I think I would go a bit further on the fairness issue, however. The idea that rich people should get a tax-cut at the same time that millions of Americans have lost their jobs and/or their homes and are struggling to put food on the table can only be described as grotesque. <br /><br />And on the often-heard imaskeptichttps://www.blogger.com/profile/16623291755739187367noreply@blogger.com