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April 25, 2014

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rich@gmu

wow, this will take forever to read.

HAPPY BIRTHDAY MARK F!

Fubar

Taxing the 1%'s wealth is an alternative to inheritance taxes, and we already have wealth taxes. (property taxes are wealth taxes)

In fact, it's even worse than a wealth tax since you're taxed on the full value of your house rather than your equity (wealth) in the house.

boris

This argument is sound but it doesn't work against them and it doesn't work for me ...

I'd feel a lot better about adopting the socialism of Pikkety's proposed global wealth tax if its advocates could point to a system anywhere that was advancing the human condition as successfully as the quasi-market capitalism that is moving the ball today.
The kindergarten fairness behind this ... nobody can have ice cream unless everybody gets an equal share ... is primitive and tribal.

The second kind of fairness is ... people get to posses the product of their own efforts and envy is harmful.

The fact that the second kind works better is not the only reason to prefer it. Even if they both worked about the same people like me refuse the first.

Stephanie spring sprung baseballs back umm ummm umm

Happy birthday, Mark F!

Mark Folkestad

Rich and Steph, St. Jane of the Fabled Isle told me that I had a lot of birthday greetings waiting at JOM. Thanks to you two, and to the others whose messages I haven't seen yet. I'm officially 63. Gah! People say I don't look a day over fifty, if that, but I don't feel a day under eighty. The only celebration is going out for dinner with a cherished (non-backstabber) cousin tonight.

narciso

Crook and even Galbraith per, slap Piketty right upside and behind, McLuhan, would say 'you know nothing of (this) work, you teach a class in this'

Mark Folkestad

We Lutherans tend not to give our children names based on the saint honored on, or nearest, the day of their birth. But my name was chosen long before I was born, and I arrived three weeks late, on the Feast Day of St. Mark. Pure coincidence. I've always wanted to celebrate my birthday in Venice, when the city goes nuts over its patron saint, so I could pretend a multitude was celebrating my special day. With my luck, though, I'd be in Venice at high tide, with a storm surge, and the terrified pigeons circling above, dropping bombs on my head.

Happy, happy, joy, joy Ignatz

--Taxing the 1%'s wealth is an alternative to inheritance taxes-

Who says?
VATs were supposed to be alternatives to other taxes as well but the other taxes curiously never went away.

lyle

Couldn't every Krugman column be distilled to the same formula?

NK(withnewsoftware)

"VATs were supposed to be alternatives to other taxes as well but the other taxes curiously never went away."

Funny how that works.... And even with the confiscatory taxes, the Socialist/Marxist state inevitably bankrupts and the lies the state told to win elections are exposed. That's when the socialist/marxists go full dictator as the castros did in Cuba and Chavez did in Venezuela, because elections no longer work for them. Does Hollande have les ballz to do that in France? Probably not, but the EUCrats will do it. The Crats are the state now in EUtopia.

peter

hb, mark

Cecil Turner

Taxing the 1%'s wealth is an alternative to inheritance taxes, and we already have wealth taxes.

Yeah, right. And if we just elected some more enlightened members of the rightleft-thinking class, it'd all get better . . . right?

It's not like if they had a new income stream they'd just spend it on frippery, would they? I mean, it's not like we'd have 99% of the electorate clamoring to spend other people's money, or anything. Right?

hit and run

Who let Mark post? I thought we had him contained?

:)

Just kidding. Good to see you at JOM.

Danube on iPad

Pretty sure a federal tax on wealth would require a constitutional amendment.

Happy birthday, Mark.

Fubar

It's not like if they had a new income stream they'd just spend it on frippery, would they?

Frippery is in the eye of the beholder. We spent almost a trillion on the Bush wars and we didn't get a single Iraqi nuke.

But Rand Paul assures us that Halliburton did just fine, thank you very much.

lyle

Note to POS Pauly Peanuts: Like Spinal Tap your audience is getting more selective.

rich@gmu

Great you made it here to comment Mark. Hit had the birthday announcement a few threads down.

I'm just skimming this post. Does anything more need to be said? YIKES!!!

Paul Zrimsek

The average income for the bottom four quintiles was $40,165 in 1979 and $43,616 in 2012, an increase that matches Winship's "nearly $3500". The $2500 figure was the increase in the median for the entire population. You'd expect that to be not too different from the increase in the mean for the third quintile alone-- and, sure enough, it isn't.

lyle

We spent almost a trillion on the Bush wars and we didn't get a single Iraqi nuke.

"Bush wars"? Are you effing kidding me? Barry's in his sixth year and we're still in the sandbox with more troops having been killed than in the previous five. Own it, cretin.

NK(withnewsoftware)

This Keystone/Harper chronology is worth a read. Comments are pathetic... it is Bloomberg News afterall: http://www.bloomberg.com/news/2014-04-24/how-obama-shocked-harper-as-keystone-frustrator-in-chief.html

rich@gmu

Krugman and Brooks ...

looks like it is drinking time.

Cecil Turner

Frippery is in the eye of the beholder. We spent almost a trillion on the Bush wars and we didn't get a single Iraqi nuke.

Bwahaha. Look at all the money we've saved since then . . . and how much safer the world has gotten.

Patrick R. Sullivan

Krugman will shortly be being paid $25,000 a month to study poverty at CUNY, so things will improve markedly for the rest of us, I'm sure.

daddy

On 12 April Larry Kudlow had Amity Shlaes as a guest on his weekend Radio Show and much of their discussion was this Thomas Pikeetty guy; what he is trying to do, why Krugman loves him; and what damage his call for an 80% Tax Rate would to the middle class via killing the Stock Market.

The main takeaways to me are:

1) that Piketty tries to awe his opponents by "Baffling them with BullshIt," meaning he writes and speaks so highfalutin' and with such difficult appearing equations in his book, that hopefully his opponents will not understand what he is saying and shrink away from opposing his intellectual brilliance. That's part of why Krugman loves him.

2) His call for 80% Taxes gives great cover to the Left who can then raise Taxes to 50%-60% and say proudly that they are not near as high as Piketty's 80%, so I'm not a Socialist therefore shut up and enjoy my magnanimity in not taxing you more.

It's a decent segment, 10 minutes long, with a slap or 2 at Krugman and a little Coolidge history tossed in. If you want to hear it go here to Larry Kudlow Podcasts,

Then click "Play Now" on the April 12, 2014 Podcast, give it a minute to load, and then move the cursor to 59:30 seconds into the broadcast when the Amity Shlaes segment starts.

Fubar

Pretty sure a federal tax on wealth would require a constitutional amendment.

Only until President Hillary replaces Scalia and Thomas.

Happy, happy, joy, joy Ignatz

Not sure if Fubar is noting the extra-constitutionality of the left with approval or mockery @ 2:23 but his notation is noted.

MarkO on the road

This is why econcomics is known as the dismal science.

Happy, happy, joy, joy Ignatz

--Frippery is in the eye of the beholder. We spent almost a trillion on the Bush wars and we didn't get a single Iraqi nuke.--

How is that a sensible or even rational response to this;

--It's not like if they had a new income stream they'd just spend it on frippery, would they?--

Recognizing both sides spend money without restraint on retarded projects is an argument against new income streams not for them.

lyle

Only until President Hillary replaces Scalia and Thomas.

Makes for quite the fascist wet dream, huh?


daddy

OT,

I've never landed in Little Rock, but last night I was given Little Rock as an alternate airport if the weather was bad at Memphis.

When I brought up Little Rock to have a look at the Runways I saw that the official name of the Airport is Bill and Hillary Clinton National Airport.

I suppose it makes sense, since I took off from Ted Stevens International Airport, but it just surprised me that Hill got top billing along with Bill. I suppose in a couple years it'll be the Bill and Hillary Clinton and Chelsea Clinton Mezvinsky National Airport.

And in case you missed it, here's The USS Gabby Giffords

4JackisBack!2 (On His iPhone)

Why would TM or anyone else want to read the thoughts of a French communist when all you have to do is see how well it's working there now?

Rush just mentioned that the turnover for the top 400 wealthy in the US is 90% over 10 years and that 12% of Americans will join the 1% at least once. My question is, who is going to use wealth in a more productive investment for the greater good? The government or the private individual?

daddy

I'm GUNS, Sarah Palin, Oil Spills, and a little bit of Animal Blood Lust.

How 'bout you guys?

The Stereotype Map Of Every U.S. State — According To British People

Danube on iPad

"Only until President Hillary replaces Scalia and Thomas."

Note the unspoken premise: her nominees won't care what the constitution says.

Happy, happy, joy, joy Ignatz

Stoners

Happy, happy, joy, joy Ignatz

Also hot, sunny and lovely; yep that's me alright.:P

glasater

Here's a little esoteric (sorta) conversation Rick Santelli had with Carlos Gutierrez this AM regarding the Census Bureau. Referring back to one of TM's previous blog posts and since this current post had census information in his article I felt it combined a couple of thoughts - their discussion was about how healthcare info would be affected rather than an income discussion but nevertheless..

I tried to grab the transcript but that can get things garbled. The video link is below if one wants to take the time also.


"...before we get to the special guest, former commerce secretary carlos gutierrez, in the april 15th edition of the new york times, we were notified of a change. put it on the screen. the census bureau is changing its annual survey so thoroughly it will be difficult to measure the effects of president obama's health care law in the next report due this fall, census officials say. but don't despair. read on. another paper said it is coincidental and unfortunate timing that the survey was overhauled before major provisions took effect. welcome, mr. secretary. thank you. what do you think about all of this with regard to the census bureau? listen, one-sixth of the economy is health care. you know, i cover markets. this is important. is this something i should be concerned about? yeah, look, we've been doing census since 1790. so we're not new at this, and we've got some very good people in the census bureau. they're professionals. so it's very odd about this, rick, is we wouldn't run the two systems in parallel for about five years, so that you can get a trend, you can see the pattern, and you could tell whether you really have a new, better methodology or not. i don't understand why the sudden change. that's not the way these folks typically work. they usually, you know, look for patterns, look for long-term trends. so run the two systems in parallel. that's the way they should be done. it is a bit of a surprise. very odd that they would just change the methodology from one day to the other so we can no longer compare the results to the past. yeah, i agree. and taking it a step farther. we all want everybody to have good health care. i understand that. but a couple of things. you know, when we reach 7 million or 8 million and we don't know how many paid, but that's the government's number, i guess what i'm always surprised about is, is why do we look at -- there's a penalty for not signing up. you know, when i pay a toll, mr. secretary, ido doesn't give me a thank you card for being generous, because you have to pay a toll. this is required. you get penalized if you don't join. there's so many upside down issues regarding this health care plan, and this seems to be the tip of the iceberg, making it difficult to interpret. can you give the final minute on what you believe we'll be looking at as this law goes on board in a larger fashion over the next several years? well, i mean, you know, the problem, of course, with this specific situation of the census is that we're not going to know. we're just not going to be able to compare how were we doing ten years ago to how we're doing today, because you're talking about two different methodologies, and that is a shame. you know, adding questions to a questionnaire makes it more difficult to complete. so it's just -- it's very unfortunate. and it just sheds some light on the question of are we concealing something? so the administration is not helping itself, and, you know, we should have a separate information system for this and not continue to add. and very importantly, not use the census to make a political statement. we've been doing this for over 200 years, and that's what we've been trying to avoid."

http://video.cnbc.com/gallery/?video=3000269367&play=1

peter

Wondering when there will be a USS Lady Gaga, or a USS Kim Kardashian.

cathyf

Happy Birthday, Mark.

St. Mark the Evangelist is credited with founding the church in Alexandria, and was buried there -- until the Venetians stole his body in 828, took it to Venice, and made him their patron saint. But the Alexandrians claim that they stole the wrong bones and thus they get the last laugh.

Fubar

her nominees won't care what the constitution says.

They'll care about as much as the Roberts court.

NK(withnewsoftware)

Fubar@3:08 is about the stupiest thing I've ever seen on JOM. Where's DD?

daddy

Perhaps its just me, but see if you can make heads or tails of Begich's support of this decision by a Federal Judge to suspend Drilling in the Arctic:

Judge suspends Arctic drilling, orders new environmental report

the U.S. Department of the Interior must redo the supplemental analysis using what's expected to be a much higher estimate for the amount of oil extractable. In the meantime, no drilling for oil or natural gas can take place.

Here's Begich's reaction:

U.S. Sen. Mark Begich, D-Alaska, called the order "good news," saying it "should lead to resumption of oil and gas development in our state's promising offshore" by next summer

But in the next paragraph:

Earth Justice attorney Erik Grafe, who opposes drilling and who helped bring the lawsuit, also hailed the decision. The opposing sides had worked for the past two months to negotiate a deal, which the judge adopted almost completely.

Grafe told the Los Angeles Times the redo was a "good outcome," considering that the erroneous figure of 1 billion barrels "infected every part of the original analysis."

He said the new report would likely show that oil companies would bring far more boats, planes, drill rigs and pipelines. As a result, he expects the analysis to show a much greater disturbance to the habitat of whales, walruses, polar bears and other animals.

They can't both be right. And from the Alaska Dispatch we get this tidbit:

There is no timeline yet for that supplemental study to be completed

So no drilling until the Department of the Interior completes an expensive new study, and no time line that the Department of the Interior has to comply with to complete that study---they can take forever.

I must not be smart enough to be a US Senator.


jimmyk

I've been shut out of posting since this morning, first time that's happened to me. Must be punishment for responding to duda. I had several posts that were so brilliant and witty that everyone would have forgotten bgates, but their moment has passed. But I can still wish Mark F Happy Birthday.

Stephanie spring sprung baseballs back umm ummm umm

ZOMBIES, OUTKAST, REM, GOLF, and WEIRD ACCENT.

Every frigging state in the south rated as some degree of racist, which is funny, cause I think the percent of blacks is higher in the south than any where else. I guess they are saying that southern blacks are racist, too.

Was at Home Depot yesterday and got told to "get your white ass out of the way. I got places to go!" by some witch wanting to turn around and not waiting for loading. The guy loading my car slowed to a crawl just to piss her off and then moved the forklift to where she couldn't get out of the loading zone turn around but allowed me to leave. He loads stuff for me every few days and is Jamaican and enjoys talking baseball. A lot of islanders don't have much patience for native born blacks.

Clarice Feldman

Very funny, jimmy!

daddy

Iggy,

Are you sure you aren't a Smelly Hippy, or does that only apply to DrJ and Central Cal?

jimmyk

Fubar@3:08 is about the stupiest thing I've ever seen on JOM.

Sorry, maybe I'm having an off day, but I'm not seeing the stupidity. One might have thought a constitutional amendment would be necessary to permit the government to mandate a purchase of health care, but somehow the mandate was legislated anyway. Then we've seen how much the Wise Latina cares about what the Constitution says, so why would we think that Hillary would appoint people who care more? What am I missing here?

DrJ

Are you sure you aren't a Smelly Hippy, or does that only apply to DrJ and Central Cal?

Hey! I attend to my personal hygiene once a month whether I need it or not! :) I can't speak for CCal.

NK(withnewsoftware)

Your criticism of the Roberts' ACA decision is the opposite of fascistic judicial authoritarianism. you believe Roberts was too timid and failed to properly exercise constitutional judicial review, by too easily deferring to Congressional politics. Fubar's comment is moronic because he accuses the Roberts Court of fascistically imposing their will outside of the elected political process. Whether Roberts' ACA decision was Korematsu/Plessey timid is debatable, to call his court activist partisans is stupid in the extreme.

fdcol63

I'm still a little confused.

Obama and the Dems sold ObamaCare by claiming it was NOT a tax.

Then they reversed themselves and claimed it WAS a tax before the USSC.

Roberts agreed that it was a tax.

But supposedly, tax bills have to originate in the House, not the Senate as ObamaCare did.

So .... WTF?

narciso

Begich is the idiot missing from the village, his remark is worthy of James Downey's rejoinder in Billy Madison,

narciso

btw, the Deal weasel, seems to catching some flak from his former budget chief, ala the way they seem to going after Perry.

Mark Folkestad

CathyF, the Venetians were largely to blame for the fizzle of one of the Crusades. They stole more than the bones of St. Mark. Those magnificent bronze horses were loot from Constantinople. And my understanding is that the Venetians had something major to do with helping cast those enormous cannons that finally breached the walls of Constantinople in 1453. So I don't rave about the wonders of Venice and its glorious history quite as much as many people.

Mark Folkestad

CathyF, the Venetians were largely to blame for the fizzle of one of the Crusades. They stole more than the bones of St. Mark. Those magnificent bronze horses were loot from Constantinople. And my understanding is that the Venetians had something major to do with helping cast those enormous cannons that finally breached the walls of Constantinople in 1453. So I don't rave about the wonders of Venice and its glorious history quite as much as many people.

matt

We need to tax the rich more because shut up!

Paul Krugman

Happy B Day, Mark!

the wolf

Krugman and Picketty would have income inequality erased by making everyone equally poor.

narciso

Interesting Mark, there's this new book, Christopher Moore's the Serpent of Venice, which does a Monty Python mashup of Othello, the Merchant of Venice and the Cask of Amontillado, for good measure,

NK(withnewsoftware)

I am up for post Midterm election Impeachment Hearings over Immigration and other executive abuses. I think they would be very informative for the ignorant voter pool to learn who's been trolling whom. HildaBeast would demand Obummer back off IMO: http://www.breitbart.com/Big-Government/2014/04/24/Senators-Denounce-Obama-for-Threatening-Entire-Constitutional-System-By-Nullifying-Immigration-Laws

Janet - the districts lie fallow, while the Capitol gorges itself

And in case you missed it, here's The USS Gabby Giffords

I thought that story was a joke.
I can't believe it.

Janet - the districts lie fallow, while the Capitol gorges itself

And in case you missed it, here's The USS Gabby Giffords

I thought that story was a joke.
I can't believe it.

lyle

Before I clicked the Brit stereotype map, I already knew. I wasn't surprised although I was hoping for "guns" as well. Nope. Silly Brits.

Porchlight

The Stereotype Map Of Every U.S. State — According To British People

Strange, that matches up almost exactly with The Stereotype Map Of Every U.S. State According To The American Left. And they live here and so ought to know better.

Mark Folkestad

The denial of service attack seems to be doubling some of our comments.

Jane

But supposedly, tax bills have to originate in the House, not the Senate as ObamaCare did.

There is a lawsuit pending about this issue. I always thought it was the most promising one out there.

maryrose

Happy Birthday Mark!
We have been lucky so far that Bammy has just replaced liberals with liberals. We need to win in 2016 to complete the SC when Stevens and Ginsburg retire or expire.

sbw

Piketty tries to awe his opponents by "Baffling them with BullshIt,"

He's French. Learned from Foucault and Derrida.

narciso

Smart diplomacy as Taranto points out;

Another problem, as Levant suggested, is that the Russians appear to be better at mockery than their American counterparts. After a phone conversation between Barack Obama and Vladimir Putin, Levant wrote, "the Kremlin release[d] this note: 'Mr. Obama congratulated Mr. Putin on the success of the Paralympic Games and asked Mr. Putin to pass on his greetings to the athletes.' . . . At least Samantha Power stomped her feet and wrote a mean Twitter tweet. But Obama personally congratulated Putin, during a phone call about a war?"

Fubar

We need to win in 2016 to complete the SC when Stevens and Ginsburg retire or expire.

Stevens retired years ago.

Fubar

We need to win in 2016 to complete the SC when Stevens and Ginsburg retire or expire.

Stevens retired years ago.

NK(withnewsoftware)

Well Obama and Vlad are ultimately teammates in destroying US power and wealth, so no reason for Obummer to be rude to Putin. It's not like he's a Repub or NRA member.

Jack is Back

The fact that this comes from National Journal tells me that the Clinton camp ARE worried about Warren.

5 Reasons Hillary Clinton Shouldn't Worry Too Much About Elizabeth Warren

narciso

Well she's never been challenged on her left flank, oh wait, she has,

Jack is Back

OBAMA = left flank. Think about that:)

narciso

Well their Top Men, wilt, whereas ours have the whip hand,

Talk to the Hand;

http://hotair.com/headlines/archives/2014/04/25/exclusive-putin-halts-all-talks-with-the-white-house/

NK(withnewsoftware)

Didn't the Japanese Imperial Staff do something like that on 6 December 41?

Marlene

Brit stereotypes of Maine... basically Canada, Stephen King,autumn leaves,lobster and white people.

Danube of Thought

They'll care about as much as the Roberts court.

Tell us the constitutional language the Roberts Court ignored.

Clarice Feldman

A little present for hit--how to drink beer all night without getting drunk:http://www.esquire.com/blogs/food-for-men/how-not-to-get-drunk?src=soc_fcbks

Happy, happy, joy, joy Ignatz

--Iggy,

Are you sure you aren't a Smelly Hippy, or does that only apply to DrJ and Central Cal?

Posted by: daddy | April 25, 2014 at 03:18 PM --

If there are any smelly hippies around here it only means we should have buried them deeper. :)

narciso

Yes, Lurch inspires all sorts of confidence;

http://www.interpretermag.com/category/blog/

Jack is Back

DoT,

Not being a lawyer or even educated in the intircinsies of the law, why are you such an abosoutionist? It was always my impression of the law that half the practioner sare proved wrong every day.

Beasts of England

Southern Comfort and orange juice? I've never heard of that combination and it certainly doesn't sound good. At all.

jimmyk

Tell us the constitutional language the Roberts Court ignored.

I would argue that changing the meaning of words (i.e. mandate = tax) to fit the Constitution is no better than changing the meaning of the Constitution. But I ain't no lawyer.

narciso

we can add ignoring precedent on Boumedienne, thousands of years of history and custom in Hollingworth, Kelo came before;

http://hotair.com/archives/2014/04/25/poll-virginians-growing-oddly-less-fond-of-medicaid-expansion-under-mcauliffes-leadership/

Frau das Gesetz ist das Gesetz

Why do the nincompoops regret their vote *after* the election?

Skoot

NW football reportedly voted down union today by large margin (HotAir). I figured the vote would leak almost immediately.

Danube on iPad

Jimmy, JiB and narc: the difference is subtle (to me, anyway), but ignoring or even overruling precedents regarding interpretation is one thing. But to uphold a wealth tax in the absence of an authorizing amendment would directly flout the plain words of the document. Far, far more constitutionally dishonest than merely discovering emanations and penumbras.

Jack is Back

The kid leading this for Northwesrern is an Obabmbot. Believe me.

daddy

Tell us the constitutional language the Roberts Court ignored.

ARTICLE III

SECTION 1.

...The judges, both of the supreme and inferior courts, shall hold their offices during good behaviour

narciso

What I have come to understand is when they want a result, no matter how pigheaded, like regulating the very oxygen we breathe, they find a way,

Frau das Gesetz ist das Gesetz

What is the best mixer, if any, for Southern Comfort?

Why does everyone apologize for not being a lawyer? Issa was upbraided insulted by the evil ones for not being a lawyer and was therefore "deemed" not qualified to chair his committee.

Why couldn't I wish MarkF a happy birthday this morning on either of my computers (Mac air and PC)?

Why couldn't I thank our host this morning for beating Enron adviser Krugman like the dirty rug he is?

Why is Thai Pest stealing our 1st amendment rights?

Jane

Wow, Nevada changed the qualifications for the position on the BLM that Reid's former employee got. This was all done at the behest of Reid.

Happy, happy, joy, joy Ignatz

--Why does everyone apologize for not being a lawyer?--

No kidding, Frau. Seems kind of bassackwards.

henry

Clarice, wish you posted the beer related link earlier. (Or not, I'll decide when the buzz clears). Met our lurker from Chitown for coffee, then later Gus for beer. (Their schedules didn't match). ; )

Beasts of England

@Frau: I think most people drink it mixed with Coke.

Captain Hate

What is the best mixer, if any, for Southern Comfort?

The drain in the kitchen sink

narciso

Well probably, but orange juice would seem a poor chaser, interesting, that only the Times really followed up their two minute hate, on an inside page, the Daily News and even my fishwrap were silent on the point,

Captain Hate

That link Clarice provided sounds like the chemistry is legit. May have to try it out.

jimmyk

I have never apologized for not being a lawyer. I have merely issued disclaimers, often with tongue firmly in cheek, as in "I am not a lawyer, so I'm not familiar with twisting language around to make something mean the opposite of what it seems to mean."

Frau das Gesetz ist das Gesetz

Thanks, Beasts with a southern answer and CH will the Ahia recommendation.

daddy, Gabby got a ship named after her but the forgotten six who died didn't even get a t-shirt.

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