tag:blogger.com,1999:blog-6616959642391988608.post6577061608220948501..comments2024-03-18T13:22:06.536-07:00Comments on Calafia Beach Pundit: Obama's radical agenda explainedScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-6616959642391988608.post-19534636516972694342009-03-08T06:29:00.000-07:002009-03-08T06:29:00.000-07:00Bob, well said. De Tocqueville warned about this,...Bob, well said. De Tocqueville warned about this, how majorities can maintain their rule in a democracy by buying off large segments of voters. And this is exactly what the Obamamaniacs are attempting here. In their view, the more the private sector is seen as failing, the more the public sector can expand, thereby cementing their majorities.<BR/><BR/>But this, of course, is a short-term Jon S.https://www.blogger.com/profile/14840074248344452572noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-34273624346469139672009-03-07T10:19:00.000-08:002009-03-07T10:19:00.000-08:00Mark Sadowski, like most liberals I read or talk t...Mark Sadowski, like most liberals I read or talk to, find in necessary to salt their comments with judgmental innuendo. Instead of just make their claim they have to first tell us how we should be feeling, there by making any counter argument moot. "Even the most diehard" and "A 6.7% decrease in after tax capital gains tax income is a big deal to you? Seems a little odd to me". I can tell you Bobhttps://www.blogger.com/profile/18190525712352815677noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-52068803686422031782009-03-07T06:51:00.000-08:002009-03-07T06:51:00.000-08:00Mark, for all his studies, is a classic example of...Mark, for all his studies, is a classic example of someone who doesn't possess a simple grasp of human nature, let alone how markets work. All the econ degrees in the world don't amount to much if you can't figure out basic laws of supply and demand, marginal rates of taxation, and the like.<BR/><BR/>The big question for me about Obama's radical agenda is whether he's deliberately trying to Jon S.https://www.blogger.com/profile/14840074248344452572noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-55793119619488634262009-03-06T19:01:00.000-08:002009-03-06T19:01:00.000-08:00Scott,A 6.7% decrease in after tax capital gains t...Scott,<BR/>A 6.7% decrease in after tax capital gains tax income is a big deal to you? Seems a little odd to me.<BR/><BR/>Well, if I were you, then I wouldn't work (that's your choice). I suspect that a lot of people will still choose to. This is especially true since so many of them are overleveraged. (Personally, I don't have to work, but I do choose to because I enjoy the excercise.)Mark A. Sadowskihttps://www.blogger.com/profile/13147923641894915172noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-34964622612430788742009-03-06T18:34:00.000-08:002009-03-06T18:34:00.000-08:00Mark, you have a way with back-handed compliments....Mark, you have a way with back-handed compliments. <BR/><BR/>I think a one-third rise in the capital gains tax is a BIG DEAL. I think it is already causing people to sell. It reduces the present after tax value of future stock returns by a signficant fraction. It reduces, on the margin, people's willingess to take risk. It increases on the margin the hurdle rate for just about all investments. <Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-47399372589796604732009-03-06T17:38:00.000-08:002009-03-06T17:38:00.000-08:00Even the moost diehard supply siders (Bruce Bartle...Even the moost diehard supply siders (Bruce Bartlett for example) would call this needless alarmism. In static terms, an increase in the top marginal income tax rate from 35% to 39.6% would increase revenues by 13.1% and reduce after tax income by 7.3%. Similarly, the increase in capital gains tax rates from 15% to 20% will increase revenues by 33.3% but reduce after tax income by 6.7%. Anyone Mark A. Sadowskihttps://www.blogger.com/profile/13147923641894915172noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-88864876406065467122009-03-06T11:37:00.000-08:002009-03-06T11:37:00.000-08:00Cabodog: Not sure exactly what Brian is referring ...Cabodog: Not sure exactly what Brian is referring to, but it could be the household survey of those working adjusted to bring it into line with the establishment survey (the two surveys are supposed to measure the same thing, but they traditionally report different levels of employment. I note that the unadjusted household survey showed a decline of 373,000 jobs, versus the -651,000 in the Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-90905571545530027852009-03-06T11:34:00.000-08:002009-03-06T11:34:00.000-08:00Bernard: the part time worker statistic doesn't lo...Bernard: the part time worker statistic doesn't look too scary. Adjusted for population growth, it is not yet as bad as in the '81-82 recession. And at least they are working. Real incomes have risen in the past year, so that is encouraging as well.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-68112805181215186182009-03-06T09:29:00.000-08:002009-03-06T09:29:00.000-08:00Scott,Off-topic -- Brian Wesbury discusses today's...Scott,<BR/><BR/>Off-topic -- Brian Wesbury discusses today's Non-Farm payroll drop of 659,000 jobs at http://www.ftportfolios.com/Commentary/EconomicResearch/2009/3/6/non-farm_payrolls_declined_651,000_in_february<BR/><BR/>In his discussion, he mentions "the civilian employment measure of jobs (adjusted for the payroll concept) declined only 175,000 in<BR/>February and is down much less over the Cabodoghttps://www.blogger.com/profile/08299113185481067179noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-12418832074196313992009-03-06T09:26:00.000-08:002009-03-06T09:26:00.000-08:00That sums it up nicely. It does not make economic ...That sums it up nicely. It does not make economic sense to engage in radical economic reformation during a crisis unless the reformation assists the current situation. Only after stability and growth return, can you tackle the greater issues of income disparity, healthcare and energy.<BR/><BR/>Scott. Did you see this piece about part time workers from the calculated risk blog? The number of Public Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.com