Spoiled Brat Syndrome


By Mish   Follow   Tue, 5 Feb 2013, 10:49am   681 views   14 comments
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Spoiled Brat Syndrome
http://globaleconomicanalysis.blogspot.com/2013/02/spoiled-brat-syndrome.html
Mish

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  1. marcus


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    1   6:13am Wed 6 Feb 2013   Share   Quote   Permalink   Like (4)   Dislike (2)  

    What about the spoiled brats that felt they needed big tax cuts back in 2001, when there were supposedly surplusses as far as the eye can see ?

    SURPLUSES AS FAR AS THE EYE CAN SEE, WE WERE TOLD !

    If somewhere along the line we had learned to pay our bills (sufficient taxes), then and only then would we ever learn spending restraint.

    Oh, but here's the rub. Under such a scenario, the republicans can't win elections, for their constituents. You know. Big oil, the military industrial complex etc. Not to mention all of those individuals who felt their taxes would be lower with a republican.

    But the republican premise, that you go ahead and tax less, and deficit spend, and that "deficits don't matter," and that the problem will solve itself, is flawed. "Starve the beast" was and is a recipe for disaster.

    This is what's behind our habitual government living beyond its means.

  2. SoftShell


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    2   6:56am Wed 6 Feb 2013   Share   Quote   Permalink   Like (2)   Dislike (1)  

    deficits/surpluses come and go....always changing based on predicted/unpredicted expenses/events
    How about "flexible" tax rates...spending over budget in one year? taxes go up the following year...surpluses one year? taxes go down the following year....
    Of course, having an actual budget would be required for this to work....

  3. marcus


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    3   7:14am Wed 6 Feb 2013   Share   Quote   Permalink   Like (1)   Dislike (1)  

    SoftShell says

    How about "flexible" tax rates...spending over budget in one year? taxes go up the following year...surpluses one year? taxes go down the following year....

    Of course, having an actual budget would be required for this to work....

    I like this idea a lot. And I don't know that you need an actual budget. How about, if money spent last year, exceeds tax revenue, by more than some percentage (bring the actuaries in), then taxes go up. If revenues are less than spending by some specified amount, taxes fall.

    Possibly provisions for exceptions can be made for one time emergency filled years (but not wars - if wars aren't worth sacrifice by all, then they probably shouldn't be occurring).

    We would probably have to trim down our role in the world. But that would probably be a better way of fighting terrorism (against us) anyway. And it would genrally improve our reputation.

  4. marcus


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    4   7:19am Wed 6 Feb 2013   Share   Quote   Permalink   Like (1)   Dislike (2)  

    IT actually could work, but the tough thing would be defining exactly how progressive the tax rates should be. You can't really ask people with family income of say 50K to pay much more than what they pay in to SS and medicare. But the spending decisions need to maybe hit them a little.

    I think at the higher increments of income should be taxes much higher. Virtually all the people who influence govt spending, including lobbyists, and (usually) those they represent, are in those higher brackets.

    Some people don't understand that when people say higher taxes on people making over 250K, they mean only on the income that's over 250k. They still pay the same as everyone else on that first 250K of income.

  5. errc


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    5   7:38am Wed 6 Feb 2013   Share   Quote   Permalink   Like (3)   Dislike  

    Some people don't understand that when people say higher taxes on people making over 250K, they mean only on the income that's over 250k. They still pay the same as everyone else on that first 250K of income.

    some people understand that taxing incomes is a bad idea in and of itself. It's an economic penalty that only those that work are forced to participate. How about a tax on something that doesn't have negative economic effects? Like land for instance. There's plenty of land here in the United States, and people pay a premium for coastal land as well as other desirable land. After all, everyone wants to go to the beach, and the people that own coastal property can certainly afford to pay their fair share of the governments spending tab. Relative to taxing incomes, there's really no drawbacks to taxing land,,,,

  6. errc


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    6   8:39am Wed 6 Feb 2013   Share   Quote   Permalink   Like   Dislike  

    robertoaribas says

    legalize pot, and tax it. require a growers license to grow, and a per plant tax... so that even the home growers pay their share. Legalize prostitution, and tax it too. They could offer some of those guest worker visas for this field.

    Id imagine most rational folk would get behind this. Fuck all to the dimwit oppositions

    However, we would need open market price discovery first, not taxation structured around black market pricing. Have to cleanse the markets of all the economic rent, seeing as how the cost to produce pussy and dope is close to zero,,,

    So aside from the issue of who do market participants owe for the privilege to participate, and why, would be how much tax could the gov collect from 10$ bjs and $50 lbs of dope?

  7. SoftShell


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    7   9:16am Wed 6 Feb 2013   Share   Quote   Permalink   Like   Dislike  

    Agreed.
    Also tie tax increases/decreases to elected official's take-home pay...
    watch how quickly we become 'balanced'....

    implement the 'california proposition' system nationwide. Give it the authority to break congressional deadlocks....submit enough signatures and a national vote takes place within 60 days. watch congress actually start to 'give and take', or risk losing their power to the people...

    marcus says

    SoftShell says

    How about "flexible" tax rates...spending over budget in one year? taxes go up the following year...surpluses one year? taxes go down the following year....


    Of course, having an actual budget would be required for this to work....

    I like this idea a lot. And I don't know that you need an actual budget. How about, if money spent last year, exceeds tax revenue, by more than some percentage (bring the actuaries in), then taxes go up. If revenues are less than spending by some specified amount, taxes fall.

  8. TechGromit


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    8   9:20am Wed 6 Feb 2013   Share   Quote   Permalink   Like (2)   Dislike  

    errc says

    However, we would need open market price discovery first, not taxation structured around black market pricing.

    If drugs and prostitution where legal (and taxed) prices would drop considerably. Just think about how much drugs are seized and burned. As for prostitution, hiring a prostitute in the United States is at least $200, in the Netherlands where it's legal, the price is $30. Netherlands has a similar incomes (46k a year) when compared to the United States (50k a year), so it gives us a good idea what price would all to. It's a much better comparison than some place like Thailand where the average yearly salary is $9,000 a year and a prostitute will cost as little as $16 (this is the foreigner money bags price, local Thai's pay a fraction of that amount) .

  9. New Renter


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    9   9:48am Wed 6 Feb 2013   Share   Quote   Permalink   Like (5)   Dislike  

    robertoaribas says

    legalize pot, and tax it. require a growers license to grow, and a per plant tax... so that even the home growers pay their share. Legalize prostitution, and tax it too. They could offer some of those guest worker visas for this field.

    Or just completely decriminalize pot, DON'T tax it at all (at least home grown below a certain amount) and enjoy the savings from a less bloated legal system and prison industrial complex.

  10. HEY YOU


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    10   11:10am Wed 6 Feb 2013   Share   Quote   Permalink   Like   Dislike  

    Read the title. Thought it was about commenters on Patrick.net. LOL

  11. futuresmc


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    11   6:42pm Wed 20 Feb 2013   Share   Quote   Permalink   Like (1)   Dislike  

    robertoaribas says

    Legalize prostitution, and tax it too. They could offer some of those guest worker visas for this field.

    Why do you need guest worker visas for prostitutes? Without the threat of arrest and the protection from pimps and gangs that legal prostitutes would get, American prostitutes could set the price by themselves. Whatever product or service you have, importing cheap labor will always drive down prices, which is why if America wants to stablize its economy, it has to do this across the board. Not even prostitution can be an exception.

  12. Rin


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    12   7:49pm Wed 20 Feb 2013   Share   Quote   Permalink   Like   Dislike  

    futuresmc says

    robertoaribas says

    Legalize prostitution, and tax it too. They could offer some of those guest worker visas for this field.

    Why do you need guest worker visas for prostitutes? Without the threat of arrest and the protection from pimps and gangs that legal prostitutes would get, American prostitutes could set the price by themselves. Whatever product or service you have, importing cheap labor will always drive down prices, which is why if America wants to stablize its economy, it has to do this across the board. Not even prostitution can be an exception.

    In this case, as long as the cash is transacted abroad, a foreign prostitute can still do her "consulting" work in the US, on a business/tourist (or student) visa. Thus, 90 days of R&R, followed by a return to her home country.

    American prostitutes, however, can offer more value-added services which could involve several visits, over a period of months, with fetishes and elaborate scenarios involved. And thus, US prostitutes will still hold a lion's share of the business.

  13. ducsingle5313


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    13   9:10pm Wed 20 Feb 2013   Share   Quote   Permalink   Like   Dislike  

    SoftShell says

    implement the 'california proposition' system nationwide. Give it the authority to break congressional deadlocks....submit enough signatures and a national vote takes place within 60 days. watch congress actually start to 'give and take', or risk losing their power to the people...

    Clearly you haven't spend much time in California. Voter initiative systems are infamous for increasing government spending while making it almost impossible to raise taxes. Hence the moniker democracy run amuck.

    http://www.economist.com/node/15127600

  14. SoftShell


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    14   7:04am Thu 21 Feb 2013   Share   Quote   Permalink   Like   Dislike (1)  

    Clearly you are an ASS of the 1st order.

    Your shortsightedness in limiting the data set forming your opinion of the 'proposition' system blinds you to the overwhelming benefit enjoyed by the left coast masses....

    In other words, stick your property tax increases up your A$$...

    ducsingle5313 says

    SoftShell says

    implement the 'california proposition' system nationwide. Give it the authority to break congressional deadlocks....submit enough signatures and a national vote takes place within 60 days. watch congress actually start to 'give and take', or risk losing their power to the people...

    Clearly you haven't spend much time in California. Voter initiative systems are infamous for increasing government spending while making it almost impossible to raise taxes. Hence the moniker democracy run amuck.

    http://www.economist.com/node/15127600

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