Thread in which the world laughs at America

[Zevico]

If you Nuke New York it adds economic activity.

The Krugman plan for economic prosperity.

[Ogie Oglethorpe]

The Krugman plan for economic prosperity.

To be fair, his plan doesnt call for nukes but hyper plasmic antimatter rays from the planet Zarlaks.

[KrazyHorse]

I fail to see how making sure everyone pays the exact same pay roll tax rate is "distortionary". I call it equitable.

Stop being an idiot, Oerdin.

[KrazyHorse]

Pay your taxes, *****!

Hell, I'll have to pay higher taxes (though since I make more then $106,000 but less then you) I won't have to pay as much of an increase as you but it does seem completely fair. Republicans can't whine for a flat tax then whine more when they're given a flat tax. Stuff them up their corn holes, says I.

Are you actually this much of a moron, or are you just being disingenuous?

[Tupac Shakur]

He actually is a moron.

[giblets]

Wow, you've really communicated your point well

[KrazyHorse]

Anybody who needs to have the point made to them is also a moron.

[DaShi]

Pay you taxes KH!!!

[giblets]

Pay you taxes KH!!!

Moron!!!!!

[DaShi]

You pay your taxes too!!!

[Dinner]

I'm sure KH will claim that any payroll tax distorts the market, fine, I still want to remove the cap so that everyone pays the exact same percentage of income.

[notyoueither]

Isn't there a maximum benefit?

[KrazyHorse]

I'm sure KH will claim that any payroll tax distorts the market, fine, I still want to remove the cap so that everyone pays the exact same percentage of income.

To spell it out for you, the regressivity of the payroll tax offsets some of the inefficiency created by an increasing marginal income tax rate. Making this tax flat while keeping the rest of the structure of the income tax system is equivalent to increasing marginal rates at the top end, which is the most distortionary way possible to raise taxes. Moreover, I suspect that any analysis of the effects of this tax change are static in nature (they assume people will not respond to the new incentives), despite the fact that the change would be rather large (it would increase top marginal rates by effectively 10 percentage points). Finally, because of the structure of the benefits formula, SS behaves more like a tax at the top end and less like a tax at the bottom end (the marginal return to dollars paid in decreases up the income distribution).

[Dinner]

Naw, Sanders isn't talking about increasing the employer's contributions just the employee's if he makes more then $106,000. Currently, if you make $106,000 or less then you pay 4.2% in SSI but if you make double that then you only pay 2.1% and the rate keeps going down the more you make. Just make it so EVERYONE has to pay the same 4.2% and you'll have SSI fully funded for at least 75 years and there is no need to cut benefits the way Republicans want.

[Flubber]

This whole financial crisis is pretty awesome for me.

I just got a 12-month rate hold on a 3.09% 5 year fixed mortgage. With very flexible prepayment options. I don't even need the mortgage til January at the earliest.

And Alberta is expected to lead the way with salary growth this year. Again. Unemployment is dropping like a rock.

NICE rate. I might have jumped into fixed if that rate had been offered when my renewal came up. BUt I guess I should be glad that it was not available as I have been chugging along with a 2.2% variable rate (prime minus.8) which has been unchanged for over 7 months. There were predictions of a quarter point bump in September but recent events in the US and Europe are apparently making that increasingly unlikely

OH and a 12 month rate hold is pretty awesome