Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Arcanaut
novahockey
quarterback
ScottC
yellojktHank Green, one half of the Vlogbrothers, is a minor internet celebrity who usually stick to videos about Harry Potter and other aspects of nerdom but today he tackles explaining the tax code to his audience, many of whom are still living with their parents.
Feel free to critique.
Filed under: taxes |
All Things in Moderation 
very, very , very bad number on jobs
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very, very, very bad timing for Obama. Can’t the liberal media just bury this story or make up numbers or something?
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cue Bernanke and easing
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“From the moment President Obama sat behind the Resolute desk in the Oval Office, he knew he had to restore the confidence not only of the nation– but the whole world…Day after day, night after night, I sat beside him, as he made one gutsy decision after another–to stop the slide and reverse it”
Why stop there? Wasn’t it REALLY the whole solar system that was at stake?
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ash:
The “bounce” now will be like that of an 80 year old man with two hip replacements.
BUT the numbers still seem insurmountable in his favor unless the Israelis attack Iran.
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I’m not sure what brought it out but it’s a good thing there wasn’t a drinking game last night around the phrase ” . . . the greatest the world has ever known”, or there would be a lot of people unfit to go to work this morning.
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very, very , very bad number on jobs
The glass is maybe 1/4 full. The ‘x months of job growth’ streak is still alive, if rather anemically.
At 100k a month, it’s going to take ten years to hit Mitt Romney’s 12 million jobs goal. At least on paper unemployment fell to 8.1%. We’ll see how that gets spun.
This election is going to be a real test of the rule that no modern-era incumbent president has ever been re-elected with unemployment above 7.4%
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” . . . the greatest the world has ever known”
This must be the Democratic Party approved circumlocution for American Exceptionalism.
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yello
I went to bed feeling pumped, how about you?
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Metals up big time this morning
Remember what I told you last week, keep the stuff that is sensitive to a move by the Fed!
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I went to bed feeling pumped, how about you?
I went to bed kind of woozie. It was my anniversary last night and we went to a French restaurant offering a five-course meal special with two glasses of wine pairings in addition to the before dinner cocktail.
I haven’t seen one minute of convention coverage over the past two days except for a montage of Scarlett Johansson and Eva Longoria pumping up Obama.
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After the latest FOMC meeting, Fed Chairman Ben Bernanke announced his intention to keep interest rates low “until hell freezes over”.
Veteran Fed watchers interpret this to mean until Joe Biden is elected president.
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There are two reasons CG taxes should be at a lower rate than ordinary income taxes, all else equal.
1] The progressive income tax structure.
2] Inflation over time.
Because of 1], a CG earned over time puts the income earned into one year, the year of sale, thus unfairly bracketing that income high absent a CG tax exception.
Because of 2], a CG earned over time simply equates to the value of the same asset over time, but not to money. In other words, a rental house sold after fifteen years is equivalent to another similar rental house for its earning potential, but if sold and taxed at ordinary income rates it cannot let you buy another similar house as a replacement.
This does not address theoretical flaws in our current CG tax system, but it expresses why CG is different than ordinary income.
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Veteran Fed watchers interpret this to mean until Joe Biden is elected president.
I love a Joe Biden joke as much as the next guy and this is a good one, but you have to admit that he is a man uniquely suited to the historical relevance of the position.
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Mark,
Very well stated. Capital gains in real estate have traditionally been handled by either an exemption or a roll-over allowance. It could also be handled by indexing although that might become very complicated.
Most issues with capital gains nowadays are with financial instruments where what should be ordinary income has been manipulated to appear to be capital gains instead. When you subsidize something (capital gains over ordinary income) you get more of it.
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