About Bellingham Bill

Bellingham Bill

77 threads
Bellingham, WA
Followed by 0
Following 1
Ignored by 3
Ignoring 74
Ignore Bellingham Bill
In United States
Registered Apr 08, 2012

This is not my house. But it, or one like it, will be someday!

Bellingham Bill's most recent comments:

  • On 25 Oct 2014 in Will Millenials ever buy a house?, Bellingham Bill said:

    casandra says

    they may not even inherit that boomer house. if the boomer is smart, he or she will max out the credit cards in late life and not pay them off, enjoying unlimited travel and the good life, so when they die the house is just a financial wash !!

    plus the reverse mortgage to wipe out the home equity. With ZIRP they're not too bad at least.


    is the 1 Mo Libor index rate -- actual interest rate on RMs is ~4% plus that

  • On 24 Oct 2014 in Middle Class Wealth Gone!, Bellingham Bill said:

    Let's look at the chart again:

    The 2001 tax cuts were front-loaded for the middle-quintiles, while the 2003 tax cuts accelerated the scheduled 2005-2009 phase-ins to that year.

    The full package was a trillion-dollar give-back to the wealthy.


    2. Fueled income inequality: This chart from the Congressional Research Service suggests that the Bush tax cuts, which significantly reduce top marginal tax rates and capital gains rates, helped widen income inequality in the 2000s. As the report says, “as the top tax rates are reduced, the share of income accruing to the top of the income distribution increases — that is, income disparities increase.” This chart shows how the percentage of income flowing to the top 0.1 percent of earners increases as top tax rates decrease.

    I'm not going to get into mell's argument, only repeat mine that cutting taxes on the rich basically resulted in them buying treasuries instead of paying taxes.

    Not only will they get the interest -- the 30 year treasury was sold for 5% 2006-2007, but a tax payment hits their net worth while bond buys are neutral to their balance sheet.

    Romney had a 14.1% tax rate in 2011. Case closed.

  • On 23 Oct 2014 in The news leak that almost changed world history, Bellingham Bill said:



    0101. Navy Basic War Plan (RAINBOW FIVE) is the directive which this U.S. PACIFIC FLEET Operating Plan (RAINBOW FIVE) is designed to implement in so far as the tasks assigned the U.S. PACIFIC FLEET are concerned.


    Germany lost its Pacific Ocean possessions 20 years earlier so I fail to see how they're relevant.

    The actual news leak of that time that almost changed history was an anti-FDR newspaper in Chicago mindlessly printing the news that we were reading the Japanese naval code before Midway.

    If that had leaked to Japan or Germany, it could have really made the next 3+ years of war a lot harder than they were already, but by some miracle this leak was squelched. The Navy hit the roof and wanted to prosecute, but that would have just publicized it more.

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