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Monday, October 27. 2008

Via Insty from Mankiw:

If there were no taxes, so t1=t2=t3=t4=0, then $1 earned today would yield my kids $28. That is simply the miracle of compounding.
Under the McCain plan, t1=.35, t2=.25, t3=.15, and t4=.15. In this case, a dollar earned today yields my kids $4.81. That is, even under the low-tax McCain plan, my incentive to work is cut by 83 percent compared to the situation without taxes.
Under the Obama plan, t1=.43, t2=.35, t3=.2, and t4=.45. In this case, a dollar earned today yields my kids $1.85. That is, Obama's proposed tax hikes reduce my incentive to work by 62 percent compared to the McCain plan and by 93 percent compared to the no-tax scenario. In a sense, putting the various pieces of the tax system together, I would be facing a marginal tax rate of 93 percent. The bottom line: If you are one of those people out there trying to induce me to do some work for you, there is a good chance I will turn you down. And the likelihood will go up after President Obama puts his tax plan in place.

Is it possible that the Dems don't want folks to work hard?

Posted by The Barrister in Politics at 07:20 | Comment (1) | Trackbacks (0)

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The question was asked: "Is it possible that the Dems don't want folks to work hard?"

Is it not true that among the creations of virtue and industry is a will to encourage virtue & industry?

Does not this 'virtuous circle' --where it is expressed as public policy --offer the best shot at building a good life, that is to say a life neither deluded by nor excluded from the universal circle, the magnetic dreamway, the human being given love?

So, could a politician who has that other sort of policy in mind, that policy which some or all of the effect, for one reason or another, discourages virtue & industry, then can that politician, as certainly as God made little green apples, not be a liar, a fraud, a sharp dealer, and three chances out of four (if not five out of six or depending on latitude & longitude eleven out of thirteen or God save us a 'nillo' 100%) a Democrat?

Is this so certain (and you know it IS certain, even tho 'certain' as a concept is become vaguely archaic and even sharply impertinent in our brave new vandalizing world) because otherwise the reason to vote for him would be that he will make folks LESS virtuous & industrious? And therefore LESS likely to be at peace with themselves and the world (and with me and with you), and LESS likely to love and be loved --or to be in any way at all, save by a mom or some saint, "love-able"?

If hate comes from anger, what does love come from?

#1 buddy larsen on 2008-10-28 04:01 (Reply)

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Monday, October 27. 2008

Work incentive