Galt's Gulch

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    Posted by straightlinelogic 10 years, 8 months ago
    I had him at UCLA as a visiting professor for labor economics in 1977. He was laser sharp and would fry you in your seat if you weren't prepared. I'm proud to say I got an A, and he did not believe in grading on the curve or any other form of grade inflation.
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    • Posted by tpatter4 10 years, 8 months ago
      I'm probably one of the few instructors who does not grade on a curve. The timing of this discussion is so perfect for me to mention my ebook, Whisper Independence, which is a sci-fi/dystopian/romance, inspired long ago by Atlas Shrugged. Check out the video book trailer on YouTube: Whisper Independence.
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  • Posted by CircuitGuy 10 years, 8 months ago
    The trouble is, many people over-withhold and are thankful around this time of year for their refund. This is a time of year to take a trip, upgrade cars, or do home repairs.

    If these same people had to write checks for their withholding each month along with their other monthly expenses, there would be a revolt at the ballot box regardless of when the election were held.
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    • Posted by $ rockymountainpirate 10 years, 8 months ago
      True. So many people believe that a refund is free money. They don't understand it's their money they have 'given' to the government interest free for a year.
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      • Posted by tpatter4 10 years, 8 months ago
        Yes, it's also why they don't seem to understand that the government isn't some rich entity that produces anything of value, and that it doesn't "have" an unlimited supply of money. It's fun to remind people exactly who is paying the bills: You, if you work and pay taxes; your best friend or neighbor, if you don't.
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      • Posted by NealS 10 years, 8 months ago
        In some cases it is free money, at least to the recipient. Someone else pays. My Special Needs (Agent Orange from me )daughter works 20 hours a week at a low income job, mainly to contribute to society. Her employer is an auto dealership and I think they hired her mostly to give her a job. When she files her taxes she makes so little that she actually gets all her taxes paid back plus another $800 or so for the earned income thing. I don't think this should be, but it's the law. Actually if you think about it it's just part of the redistribution thing although of little significance. Again, it's not right, but it's the law. I'd vote to change that law as I can support her needs better than the government.
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        • Posted by $ root1657 10 years, 8 months ago
          I agree, the law should be changed so that a person does not receive more than they paid. I can flex to see some people maybe shouldn't be taxed if low enough income, but no way they should be redistributing to them... Actually I'm even more in favor of a flat tax where the first portion of your income is tax free, even if you are loaded, and all earnings about whatever cutoff are taxed the same percentage. All people would be able to do their taxes on a form the size of a postcard.
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          • Posted by LaMuse 10 years, 8 months ago
            As long as there is an income tax, all income earners should pay into the pool. It doesn't matter what amount of money an individual earns, everyone should have skin in the game. Everyone should at least have to pay a dollar, just so they can experience the pleasure and rapture of filling out pages of complex tax forms. Production should not be taxed, only consumption. IMHO, the Fair Tax is the only way to go.
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            • Posted by $ root1657 10 years, 8 months ago
              OK then, I would say no income tax, only consumption taxes. All things will be taxed at the same rate, except that food will not be taxed.

              Also, I think you missed the bit that I don't want complex forms... how much did you make from all sources, minus the base amount, multiply by the tax rate, that is your tax for the year.
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        • Posted by tpatter4 10 years, 8 months ago
          NealS,
          You are a true patriot. I too would vote for something that might not help me or might even harm me--if I believe it is what is right for America. In fact, I was laid off from a teaching position (low enrollment) last June. I filed for unemployment to get by in the moment but immediately scrambled to find numerous adjunct positions to pay the bills and get off of unemployment after the first couple months. This past semester, I drove all over my state (I call it my state tour), teaching 5 courses, at 3 different colleges/universities, at 4 locations, each an hour away from my home. All this, just so that I would be completely free of unemployment. I know the employer pays this, but I refused to abuse it. On principle.
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    • Posted by $ blarman 10 years, 8 months ago
      Well said. If people had to pay their own taxes for FICA, Medicare, SS, payroll, etc., you can bet those programs would get an overhaul pretty darn quick. How many people even look at their pay stub to see how much doesn't even make it into their pockets come payday?
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  • Posted by squareone 10 years, 8 months ago
    I have three people whose opinions I follow: Ayn Rand, Walter Williams, and Thomas Sowell. All other opinions are mostly b.s.
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    • Posted by $ blarman 10 years, 8 months ago
      Another one you might be interested in: economist Dan Mitchell of the Cato Institute. He delves into the financial repercussions of various policy decisions, but doesn't confine himself to just the US even though that is his focus. He constantly compares the effectiveness (or not) of various policies to those of other nations and provides empirical proof of which policy decisions make the most sense.
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  • Posted by Todds 10 years, 8 months ago
    I had a friend this morning suggest that every wage earner should quietly change their dependents to 10. It would be a peaceful protest to big government by withholding their withholding.
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  • Posted by ObjectiveAnalyst 10 years, 8 months ago
    It wouldn't hurt... well except perhaps the statists, moochers and looters and I would rejoice at the prospect. If only the professor was young enough and inclined to run for office... sigh...
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