Rebirth of Reason

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Post 0

Saturday, February 13, 2016 - 5:05amSanction this postReply

Never mind that the top 1% of earners whom he demonizes shoulder nearly 40% of the federal income tax burden and the top 10% cover 70% of the bill. Never mind that even expropriating all the taxable income of the 1% would not cover his proposed $19 trillion spending increase for one year.


The "for one year" is not needed and misleading. The $19 trillion spending increase BS proposes is over 10 years, or $1.9 trillion per year (assuming level to simplify).  But to elaborate Ed's claim, I use the 2013 income and tax data (the latest available) in Table 1 here.  The top 1% have AGI (adjusted gross income) of $1.72 trillion and an average tax rate of 27.08%. $1.72 * (1 - 0.2708) = $1.25 trillion, which is less than $1.9 trillion. On the other hand, expropriating all the taxable income of the top 5% would (naively) cover it. $3.11 * (1 - 0.232) = $2.4 trillion.  Incidentally, BS wants to raise taxes in more ways than individual income taxes. Link.


In the news Trump calls Sanders a communist (link).  While largely true, BS's supporters and many others will pooh-pooh it. Calling BS a Marxist socialist and explaining why might be more effective.  An example of pooh-poohing is here. The author bloviates about Sanders being a member of this and not a member of that, nowhere defining what socialism or communism means regarding relations between the individual and the state.


(Edited by Merlin Jetton on 2/13, 6:32am)

Post 1

Saturday, February 13, 2016 - 11:00amSanction this postReply

Enjoy the Decline

Post 2

Saturday, February 13, 2016 - 1:19pmSanction this postReply

Have you read the book, Luke?  If yes, how was it?


I hadn't heard of the author. He has a blog, Captain Capitalism. Here are posts about Bernie Sanders.

Post 3

Saturday, February 13, 2016 - 2:05pmSanction this postReply

I have only read one of his books, Worthless, a book about selecting a worthwhile college major, and it made for worthwhile reading.


Based on that, any post I see that warrants saying, "Enjoy the decline," warrants saying it as the title to his book and linking accordingly.


I did this at the "other" site operated by the "former" founder of this site, and I was duly reamed for doing so, and I was kindly told by certain regulars, "Grow some balls."


Why grow them, or, more aptly, expose them, if those in power will simply castrate and eat them?  Better to keep them intact for health and copulation.  An athletic cup can only protect against so many predators.


Seriously, though, as a man pushing 50, I am getting too old for this nonsense.  We are clearly in a tailspin.  I expect a bloodbath may well result in the next 20 years, and the world is too stupid to see it coming.  I am truly despondent.  Thank Galt I have no children.  I have no interest in raising them in this kind of world.

Post 4

Saturday, February 13, 2016 - 9:11pmSanction this postReply

I spend a lot of time in the wilds perfecting my wildlife photography, it's a nice break from worldly crapstorms as well as productive and enjoyable time learning another skill set.  Up here in Canada things are looking left more and more.  It's sickening.

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