My pick for the Presidential race, Giuliani, has bowed out. I like his tax policies. Not that I thought that he could get them adopted, just that I thought that he could achieve what Bush achieved–slightly lower marginal and average taxes for 10 more years. Before you write me off as an elitist who doesn’t like graduated income taxes (which I don’t deny–but bear with me), I agree with Laffer on this point. Taxes are above the monopoly rate. This is expected since there are four (or more) toll takers: Federal income taxes, state income or sales taxes, county sales and/or property taxes, and city sales, income and/or property taxes. When you add up the various employer and employee taxes (federal only) on receiving the last dollar (ignoring the sales and capital gains taxes associated with saving or spending it), they add up in the top bracket to 35% federal + 2.9% Medicare including employer match. That is, if I get $100 in gross in the top tax bracket, I’ll have to pay $36.45 in tax and my employer will have to pay $1.45. If we frame the percentage like sales tax, I am taking home $63.55 and together, my employer and I are paying $37.90. That is a equivalent to a 59.6% sales tax on everything I buy. In other words, to get a dollar, we have to pay 59.6 cents to the government. I assert that this portion of total taxation alone is above the monopoly rate. Tax cutters would have a very easy time getting tax rates cut (and, perhaps counter intuitively, taxes increased) if they could re-frame the tax code to show tax as a percentage of net income at the margin instead of gross.
Do we really despise envy so much that we would rather have the rich indulge in additional leisure than provide the maximum amount to the Treasury?
My pick for the Presidential race, Giuliani, has bowed out. I like his tax policies. Not that I thought that he could get them adopted, just that I thought that he could achieve what Bush achieved–slightly lower marginal and average taxes for 10 more years. Before you write me off as an elitist who doesn’t like graduated income taxes (which I don’t deny–but bear with me), I agree with Laffer on this point. Taxes are above the monopoly rate. This is expected since there are four (or more) toll takers: Federal income taxes, state income or sales taxes, county sales and/or property taxes, and city sales, income and/or property taxes. When you add up the various employer and employee taxes (federal only) on receiving the last dollar (ignoring the sales and capital gains taxes associated with saving or spending it), they add up in the top bracket to 35% federal + 2.9% Medicare including employer match. That is, if I get $100 in gross in the top tax bracket, I’ll have to pay $36.45 in tax and my employer will have to pay $1.45. If we frame the percentage like sales tax, I am taking home $63.55 and together, my employer and I are paying $37.90. That is a equivalent to a 59.6% sales tax on everything I buy. In other words, to get a dollar, we have to pay 59.6 cents to the government. I assert that this portion of total taxation alone is above the monopoly rate. Tax cutters would have a very easy time getting tax rates cut (and, perhaps counter intuitively, taxes increased) if they could re-frame the tax code to show tax as a percentage of net income at the margin instead of gross.
Do we really despise envy so much that we would rather have the rich indulge in additional leisure than provide the maximum amount to the Treasury?
My pick for the Presidential race, Giuliani, has bowed out. I like his tax policies. Not that I thought that he could get them adopted, just that I thought that he could achieve what Bush achieved–slightly lower marginal and average taxes for 10 more years. Before you write me off as an elitist who doesn’t like graduated income taxes (which I don’t deny–but bear with me), I agree with Laffer on this point. Taxes are above the monopoly rate. This is expected since there are four (or more) toll takers: Federal income taxes, state income or sales taxes, county sales and/or property taxes, and city sales, income and/or property taxes. When you add up the various employer and employee taxes (federal only) on receiving the last dollar (ignoring the sales and capital gains taxes associated with saving or spending it), they add up in the top bracket to 35% federal + 2.9% Medicare including employer match. That is, if I get $100 in gross in the top tax bracket, I’ll have to pay $36.45 in tax and my employer will have to pay $1.45. If we frame the percentage like sales tax, I am taking home $63.55 and together, my employer and I are paying $37.90. That is a equivalent to a 59.6% sales tax on everything I buy. In other words, to get a dollar, we have to pay 59.6 cents to the government. I assert that this portion of total taxation alone is above the monopoly rate. Tax cutters would have a very easy time getting tax rates cut (and, perhaps counter intuitively, taxes increased) if they could re-frame the tax code to show tax as a percentage of net income at the margin instead of gross.
Do we really despise envy so much that we would rather have the rich indulge in additional leisure than provide the maximum amount to the Treasury?
The Canadian Space Agency’s radio telescope has been reporting Flux Density Values so low they will mean a mini ice age if they continue.
Like the number of sunspots, the Flux Density Values reflect the Sun’s magnetic activity, which affects the rate at which the Sun radiates energy and warmth. CSA project director Ken Tapping calls the radio telescope that supplies NASA and the rest of the world with daily values of the Sun’s magnetic activity a “stethoscope on the Sun.” In this case, however, it is the “doctor” whose health is directly affected by the readings.
This is because when the magnetic activity is low, the Sun is dimmer, and puts out less radiant warmth. If the Sun goes into dim mode, as it has in the past, the Earth gets much colder.
Take that, undead!
Zombies and vampires. Is there any problem the sun can’t fix?
The Canadian Space Agency’s radio telescope has been reporting Flux Density Values so low they will mean a mini ice age if they continue.
Like the number of sunspots, the Flux Density Values reflect the Sun’s magnetic activity, which affects the rate at which the Sun radiates energy and warmth. CSA project director Ken Tapping calls the radio telescope that supplies NASA and the rest of the world with daily values of the Sun’s magnetic activity a “stethoscope on the Sun.” In this case, however, it is the “doctor” whose health is directly affected by the readings.
This is because when the magnetic activity is low, the Sun is dimmer, and puts out less radiant warmth. If the Sun goes into dim mode, as it has in the past, the Earth gets much colder.
Take that, undead!
Zombies and vampires. Is there any problem the sun can’t fix?
The Canadian Space Agency’s radio telescope has been reporting Flux Density Values so low they will mean a mini ice age if they continue.
Like the number of sunspots, the Flux Density Values reflect the Sun’s magnetic activity, which affects the rate at which the Sun radiates energy and warmth. CSA project director Ken Tapping calls the radio telescope that supplies NASA and the rest of the world with daily values of the Sun’s magnetic activity a “stethoscope on the Sun.” In this case, however, it is the “doctor” whose health is directly affected by the readings.
This is because when the magnetic activity is low, the Sun is dimmer, and puts out less radiant warmth. If the Sun goes into dim mode, as it has in the past, the Earth gets much colder.
Take that, undead!
Zombies and vampires. Is there any problem the sun can’t fix?
It’s hard to believe, but it’s been five years since Columbia was lost. I was up in San Bruno at the time, getting ready to drive home to LA. Here was what I blogged about it immediately upon hearing. I think that most of my initial speculation has held up pretty well. Also check though the February 2003 archives for a lot more space commentary from the time. I wrote three related pieces at Fox News (here and here) and National Review in the next few days.
Was this as traumatic and memorable as the Challenger disaster? No, for several reasons. We didn’t watch it live on television, there was no teacher aboard to traumatize the kids, and we had already lost our national innocence about the Shuttle. Still, people might want to post remembrances here.
[Update mid morning]
I’d forgotten about these. Columbia haiku that I and my commenters came up with.
Armed Liberal writes about the anti-American left (if that’s not redundant), and its inability to see anything through other an anti-western fun-house prism.