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12/02/2012

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John Ennis

I am, more and more, getting tired of the cognoscenti who populate the mainstream media. They seem more like medieval priests using the tools of scholasticism to support church dogma.

I do enjoy your stuff.

John

Oliver

I had the (mis)fortune today to sit through the two and a half hours of gratuitous violence that comprises the latest James Bond movie. I just about stayed awake, no mean feat when experiencing pondlife-level "entertainment".

Now, you're probably wondering why the heck I'm bringing this up on today's blog about the US economy. Well, the focus in the movie is on the enemy within. And there's the relevance right there.

The true enemy of the American people isn't a bunch of pre-Stone Age retards brandishing a Kalashnikov in one hand and the Qur'an in the other. It isn't the rising power of the Chinese, with their Western World-mimicking abuse of natural resources. It is the liars and cheats and manipulators running the extra-territorial US economy, and their lackeys and apologists who falsify data to conceal the truth and create the conditions for continuing the grand theft from the citizenry.

It's a powerful term The Enemy Within and not to be bandied about recklessly. But it perfectly sums the use of fake economic data as a propaganda tool to befuddle everyone outside the small coterie of sociopathic thieves quietly picking the pockets of the general population. You on Wall Street know who you are.

John Ennis

Dave:

I would love to hear your take on how there is so little emphasis being placed on the capital gains tax vis-a-vis the income tax

James

That's kind of a no brainer when you look at who pays the capital gains tax vs. income tax.

It's a point I made to a friend who was ranting about how raising taxes on the wealthy wasn't fair. I pointed out that essentially it doesn't matter to the top- most of them make the big money off of investments (and benefit from the low capital gains rate), not raw earned income, and the big corps wiggle out of tax liability entirely through offsets (GE) or moving offshore (CocaCola). So a hardworking guy who busts his ass for say $100,000 a year will end up paying much a much higher percentage in income and other taxes (payroll taxes are also often ignored in these discussions despite significantly affecting the 99% far more) than the mega wealthy and super corps, regardless.

So, essentially, our tax system is a subsidy to the ultra wealthy.

Alexander Ač

Hello Dave,

this article might ge of interest for you, regarding the economic growth and future CO2 emissions, as you correctly evaluated the latest work of Tim Garrett. This article seems to support your conclusion:

Emergent dynamics of the climate–economy system in the Anthropocene

and from the abstract: "On the basis of this model, historical rates of economic growth and decarbonization appear to put the climate–economy system in a potentially damaging oscillatory regime."

http://rsta.royalsocietypublishing.org/content/369/1938/868

Alex

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