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Michael Moore Kills Capitalism with Kool-Aid - Michael W. Covel - Mises Institute - 0 views

  • Oh sure, in theory I would like to see everyone with their own homestead, money in their pocket for regular shopping frenzies, and no health worries despite eating at Burger King 24/7, but arriving at those goals is not exactly doable unless government robs Peter to pay Paul and/or starts up the printing press.
    • Bakari Chavanu
       
      This analysis totally overlooks where real wealth originates from: not from dollars printed by the government or even the redistribution of taxes. It originates from what working class people produce, and what capialist thugs mainly profit off of.
  • And that view of course puts me in opposition to Moore since he has no problem with government as his and our father figure. That is his utopia. He truly believes that warehouses of federal workers, in Washington, D.C., remotely running our lives is the optimal plan. He is an unapologetic socialist who really doesn't care why the poor are poor or the rich are rich, he just wants it fixed. So not surprisingly — and with some generalization as I proffer this — Democrats like Moore and Republicans don't.
    • Bakari Chavanu
       
      This is not the point he made in the movie. He makes the argument that workers should control and profite from what they produce.
  • I don't care one way or the other that he has that view and I am not knocking union workers, but Moore sees the world through a class-warfare lens resulting in a certain agenda: force wealth to be spread amongst everyone regardless of effort.
    • Bakari Chavanu
       
      So you think it's perfectly okay for individuals to have a net worth of millions and billions of dollars while the people who produce the wealth should not profit from their work?
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  • We listen to heartbreaking stories of foreclosed families across America — but we don't learn why the foreclosures happened. Did these people treat their homes as piggy banks? Was there refinancing on top of refinancing just to keep buying mall trinkets and other goodies with no respect to risk or logic? We don't find out.
    • Bakari Chavanu
       
      Yes, we do learn the source of foreclosures. It's banks raising interest rates that people can't possibly pay. It's people making huge amounts of money off the misfortunes of others.
  • $1,000 for cleaning out the house that they were just evicted from. Was it sad? Yes. But should we end capitalism due to this one family in Peoria, IL?
    • Bakari Chavanu
       
      He presents this as represenetive example.
  • There is a lengthy dissertation on the evils of Goldman Sachs. He rips Robert Rubin and Hank Paulson big time, and I agree with him. In fact, I said to myself, "Moore, you should have done your whole film on Goldman Sachs!"
  • As FDR concluded and the film ended, I was shocked at the reaction. The theater of 400-plus spectators stood and cheered wildly at FDR's 1944 proposal. The questions running through my head were immediate: how does one legislate words like useful, enough, recreation, adequate, decent, and good? Who decides all of this and to what degree?
  • So that the record of history is absolutely crystal clear: that there is no alternative way so far discovered of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.
  • Friedman's logic was what I was remembering as a theater full of people cheered wildly for a second Bill of Rights. How did this film crowd actually think FDR's 1944 vision could be executed? Frankly, it was clear to me at that moment that capitalism is on shaky ground. From Bush "abandoning" capitalism to bailouts for everyone, to Obama gifting away the future, we seriously might be past the point of no return toward a socialization of America.
  • This film did not make me angry, but it did punch me in the gut. The people in that theater with me, including Moore, were not bad people. They just seem to all have consumed a lethal dose of Kool-Aid.
    • Bakari Chavanu
       
      What Kool-aid are you talking about? What other system is really challenging capitalism? Not even the government is the real kool-aid when you've already noted that it works on behalf of the corporate class.
  • Moore sees Reagan entering the scene as a shill for corporate-banking interests.
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    I include my reacations to this review in which I think Covel misleads readers about Moore's movie.
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Amazon.com: Tear Down This Myth: How the Reagan Legacy Has Distorted Our Politics and H... - 0 views

  • Two books have been recently published which attempt to present an alternative perspective on the Reagan presidency. One, William Kleinecht's The Man Who Sold the World: Ronald Reagan and the Betrayal of Main Street America, is revisionist polemic and does more to enrage than enlighten. Will Bunch's Tear Down this Myth, however, is a fair and balanced (to borrow a phrase popular with right-wingers) look at the Reagan presidency. Far from polemic, and often complimentary to President Reagan, Bunch attempts to reveal the presidency of Ronald Reagan as it was experienced by those during the era. Many of the negative reviews appearing on Amazon are obviously written by those who didn't read the book. As I've said before, Amazon needs to look more carefully at reviews before publishing them. This is not a chat board.
  • But Reagan made mistakes which have been glossed over: including the stationing of Marines in Lebanon and providing aid to Saddam Hussein. The Iran-Contra scandal, which nearly sank his presidency, has been almost forgotten. And the spiraling deficits of the 1980s (repeated 20 years later) proved that the Laffer Curve, which was the cornerstone of Reaganomics, had no basis in actual fact.
  • Bunch reminds us that Reagan was not particularly popular during most of his presidency, and that many Americans had good reason to wonder whether the country was in competent hands. Bunch runs over the Iran-Contra scandal, which came close to ending up in Reagan's impeachment. Far from being a thrifty government downsizer, he added $2 trillion to the national debt and grew the government. Bunch also reminds us that Reagan was the original "cut and run" artist, pulling US troops out of a failed mission in Lebanon within weeks after 241 Marines were killed there in a terrorist attack. We are reminded that Reagan's overtures to Iran to free hostages only resulted in more Americans being taken, and that his economic plans sowed the seeds of deregulation and greed that we are still reaping.
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  • We also see Reagan, the man who hated committing troops to war, who was a pragmatist economist who raised taxes when his trickle down theories did not working and whose personal diplomacy with the Soviets came close to riding the world of nuclear weapons.
  • I personally have long thought that the invasion of tiny Grenada, coming close on the heels of the Marine barracks disaster, was meant to distract the public from Reagan's ineptitude.
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Does Your Language Shape How You Think? - NYTimes.com - 0 views

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    The idea that your mother tongue shapes your experience of the world may be true after all.
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Poll results for first presidential debate: Obama wins | Midwest Voices - 0 views

shared by Levy Rivers on 27 Sep 08 - Cached
  • CBS Insta Poll shows Barack Obama won 39% to John McCain's 25% with 36% saying the debate was a draw. Insider Advantage reports those polled Obama won 42% to McCain's 41% with Undecided 17% CNN reports voter opinions that Obama "did better" 51%, McCain "did better" 38% The CNN poll showed men were evenly split, but women gave Obama higher marks 59% to 41% for McCain.
    • Levy Rivers
       
      How to show that someone is cranky - Barak did it by agreeing and giving credit - McCain reinforced it by being dismissive and talking down to Barak. How to did Barak show McCain's out of touchness - by showing that that McCain's claim that Barck was stubborn by giving McCain credit when it was approprate - Being graceful does that
  • The MSNBC on-line (non-scientific) poll showed Obama winning the debate 52% to 33%. (But this is what one would expect from such a poll at MSNBC because of the nature of its viewers.)
  • women voters especially would be turned off by McCain's sarcastic tone because women do tend to be the conciliators in our society and saw Obama display those conciliatory qualities very well in the debate. Obama looked at McCain, and McCain wouldn't return the eye contact but rather glared or displayed a tight and angry expression.
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  • Senator McNasty. I believe older voters will also be reassured that, though McCain has been around longer, Obama has a good grasp of foreign affairs and can learn quickly. He impressed as a statesmen, in marked contrast to McCain's warrior demeanor.
  • McCain's condescenion felt annoying; to the listener who might agree or disagree with Obama, Obama nevertheless was making good points, not naive ones.
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Bush is a Psychopath - What Does that Tell Us About Us - 0 views

  • So most importantly for the world we need to get working on our own consciousness to bring about a better world.
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    So most importantly for the world we need to get working on our own consciousness to bring about a better world.
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Obama the Delegator Picks When to Take Reins - NYTimes.com - 0 views

  • He does not stir dissent simply for dissent’s sake, but often employs a Socratic method of discussion, where aides put ideas forward for him to accept or reject. Advisers described his meetings as “un-Clintonesque,” a reference to the often meandering, if engrossing, policy discussions Bill Clinton presided over when he was president.
  • But Mr. Obama’s ease belies a more controlling management style. For all the success his campaign has enjoyed with grass-roots organizing, the operation is highly centralized around Mr. Axelrod; David Plouffe, the campaign manager; Robert Gibbs, the communications director; Pete Rouse, his Senate chief of staff; Valerie Jarrett, a longtime friend from Chicago; and a handful of senior advisers that has barely changed since he opened his campaign in January 2007.
  • Mr. Obama’s circle of advisers takes seriously his “no drama” mandate. It is a point of pride in his campaign that there have been virtually no serious leaks to the news media — small leaks are immediately investigated — about internal division or infighting. He is a careful reader of daily newspapers and magazines (titles from Foreign Affairs to Maxim are stocked on his campaign plane). He takes his briefing books — three-ring binders filled with political memorandums and policy discussions — to his hotel room or home every night, but aides say how well he reads the materials may depend on what is on ESPN.
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  • “He’ll say, ‘that is not my voice,’ ” said Jim Margolis, a senior media consultant to Mr. Obama who oversees television advertising. “Definitely this isn’t somebody you just throw the script to and he’ll say anything that comes up on the screen. He tries to make sure that he’s got his imprint on it.”
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Treasury's Plan Would Give Fed Wide New Power - New York Times - 0 views

  • Democratic lawmakers are all but certain to say the proposal does not go far enough in restricting the kinds of practices that caused the financial crisis.
    • alex thorn
       
      Notice how the Democrats are only angry about the lack of restrictions on the practices that "caused the mortgage crisis," rather than the overall problems with the unregulated and arbitrary power of the Federal Reserve.
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    The Treasury Department will propose on Monday that Congress give the Federal Reserve broad new authority to oversee financial market stability, in effect allowing it to send SWAT teams into any corner of the industry or any institution that might pose a risk to the overall system.
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Writers praise Barack Obama's inaugural address - long on plot - stood on shoulders - 0 views

  • Long on plot (and it will thicken), it did what literature does best: the backward glance, the standing on shoulders, the salute to ancestors and other sources of wisdom.
  • He is our first (in the best sense of the word) aristocratic president," author and journalist Malcolm Gladwell told The Times. "Bush was a buddy. Clinton was the kindly uncle. Obama is a prince."
  • Some, like memoirist Patricia Hampl, praised Obama's plain speaking. "I was glad," she said, "that he denied himself rhetorical flourishes and gave a speech as refined and restrained in its power so that political language itself was restored to its greatest value -- saying what the speaker means."
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Suspend airport body scanner program, privacy groups say - 0 views

  • Based on the discussions at the event, it is evident that body scanners can be easily defeated by concealing explosive materials in body cavities, the letter says. There is also little information on the health risks posed by the use of such scanners, according to the letter. The fact that the systems can be configured at any time to record and store images of travelers also raises privacy questions, the letter says. "The public does not currently understand the inability of these devices to detect the types of explosive materials that could be used or the possible risks to privacy and health," Rotenberg and Nader wrote. "The Department of Homeland Security has made significant mistakes with similar programs in the past," they added, citing as an example the agency's discontinued effort to equip airports with so-called explosive trace portals (ETP), which are designed to detect traces of explosives on travelers' clothing.
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    "The Electronic Privacy Information Center and consumer advocate Ralph Nader are urging President Obama to review the administration's plans to install whole body scanners at U.S. airports. In a joint letter, Marc Rotenberg, the president of EPIC, and Nader asked the president to suspend deployment of the devices until a "comprehensive evaluation" of the effectiveness of the technology and potential health hazards, is completed."
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Leaked intelligence documents: Here's what Facebook and Comcast will tell the police ab... - 0 views

  • The "Facebook Subpoena/Search Warrant Guidelines" from the Cryptome site are dated 2008, so there's a chance they've been superseded. The document spells out how law enforcement and intelligence agenices should go about requesting information about Facebook users, and details what information is turned over. Following is what Facebook will turn over about you, taken verbatim from the guide: Types of Information Available User Neoprint The Neoprint is an expanded view of a given user profile. A request should specify that they are requesting a “Neoprint of used Id XXXXXX”. User Photoprint The Photoprint is a compilation of all photos uploaded by the user that have not been deleted, along with all photos uploaded by any user which have the requested user tagged in them. A request should specify that they are requesting a “Photoprint of user Id XXXXXX”. User Contact Info All user contact information input by the user and not subsequently deleted by the user is available, regardless of whether it is visible in their profile. This information may include the following: Name Birth date Contact e-mail address(s) Physical address City State Zip Phone Cell Work phone Screen name (usually for AOL Messenger/iChat) Website With the exception of contact e-mail and activated mobile numbers, Facebook validates none of this information. A request should specify that they are requesting "Contact information of user specified by [some other piece of contact information]". No historical data is retained. Group Contact Info Where a group is known, we will provide a list of users currently registered in a group. We will also provide a PDF of the current status of the group profile page. A request should specify that they are requesting "Contact information for group XXXXXX". No historical data is retained. IP Logs IP logs can be produced for a given user ID or IP address. A request should specify that they are requesting the "IP log of user Id XXXXXX" or "IP log of IP address xxx.xxx.xxx.xxx". The log contains the following information: * Script – script executed. For instance, a profile view of the URL http://www.facebook.com/profile.php?id=29445421 would populate script with "profile.php" * Scriptget – additional information passed to the script. In the above example, scriptget would contain "id=29445421" * Userid – The Facebook user id of the account active for the request * View time – date of execution in Pacific Time * IP – source IP address IP log data is generally retained for 90 days from present date. However, this data source is under active and major redevelopment and data may be retained for a longer or shorter period. Special Requests The Facebook Security Team may be able to retrieve specific information not addressed in the general categories above. Please contact Facebook if you have a specific investigative need prior to issuing a subpoena or warrant.
  • Comcast The Comcast document is labeled "Comcast Cable Law Enforcement Handbook," and is dated 2007, so there's a possibility that it, too, has been superseded. As with the other documents, it explains how law enforcement agenices can get information, and details what information is available. There's a great deal of detail in the 35-page document, which describes what Internet, phone, and television information will be turned over. For example, here's the IP information it will make available: Comcast currently maintains Internet Protocol address log files for a period of 180 days. If Comcast is asked to respond for information relating to an incident that occurred beyond this period, we will not have responsive information and can not fulfill a legal request. (Comcast can process and respond to preservation requests as outlined below in this Handbook.) As expected, Comcast will also turn over the emails, including attachments, of those who use Comcast's email service, but "In cases involving another entity’s email service or account, Comcast would not have any access to or ability to access customer email in response to a legal request." Information Comcast turns over to law enforcement agencies varies according to the request. For example, a grand jury subpoena will yield more information than a judicial summons, as you can see in the excerpt below. Comcast notes, though, that this is just a sample, and that "Each request is evaluated and reviewed on a case by case basis in light of any special procedural or legal requirements and applicable laws." So the examples "are for illustration only."
  • For those who worry about privacy, though, all of this information is small potatoes. The real worry is about the use of what are called pen registers or trap-and-trace devices, which essentially capture all of your Internet activity --- the Web sites you visits, the emails you send and receive, IM traffic, downloads, and so on. Here's what the document says about them: Pen Register / Trap and Trace Device Title 18 U.S.C. § 3123 provides a mechanism for authorizing and approving the installation and use of a pen register or a trap and trace device pursuant to court order. All orders must be coordinated prior to submission to Comcast. Law enforcement will be asked to agree to reimburse Comcast's reasonable costs incurred to purchase and/or install and monitor necessary equipment. See "Reimbursement," below.
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  • As for your voice calls made via Comcast, here's what the company will turn over: Call Detail Records - Comcast maintains two years of historical call detail records (records of local and long distance connections) for our Comcast Digital Voice telephone service. This includes local, local toll, and long distance records. Comcast also currently provides traditional circuit-switched telephone service branded Comcast Digital Phone. Call detail records for this service are collected by AT&T and are available for approximately two years as well. To determine which type of service is involved, contact the Legal Demands Center—Voice and Video at 800-871-6298. Account Records - Account records are generally stored for approximately two years after the termination of an account. If the account has an outstanding balance due, records may be retained for a longer period of time. As with Internet information, what phone information will be turned over depends on the specific kind of legal request, and the examples "are for information only." Here's an excerpt:
  • And, as you would expect, there is the same pen register/trap-and-trace device language as in the section about the Internet. Oddly enough, it appears that when it comes to information about your television viewing habits, you have more privacy rights than you do when it comes to information about your Internet and voice use, because it can only be turned over in response to a court order, not a subpoena. Here's what the document has to say about TV information: Subscriber Account Identification and Related Records For subscribers to our cable television service, the Cable Act requires Comcast as a cable operator to disclose personally identifiable information to a governmental entity solely in response to a court order (and not, for example, a subpoena) or with the subscriber's express written consent. The Cable Act requires that the cable subscriber be afforded the opportunity to appear and contest in a court proceeding relevant to the court order any claims made in support of the court order. At the proceeding, the Cable Act requires the governmental entity to offer clear and convincing evidence that the subject of the information is reasonably suspected of engaging in criminal activity and that the information sought would be material evidence in the case. See 47 U.S.C. § 551(h). Why does the law give you more privacy protection over your television viewing habits than your Internet or phone use? I haven't a clue --- ask your congressman.
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    Wonder what information Facebook and Comcast will turn over to police and intelligence agencies about you? Cryptome, the site that last week posted the leaked Microsoft "spy" manual, has posted company documents that purport to describe what those companies will reveal about you. As with the Microsoft document, the information is eye-opening.
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Pliocene Hurricaines - 0 views

  • By combining a hurricane model and coupled ocean-atmosphere general circulation model to investigate the early Pliocene, Emanuel, Brierley and co-author Alexey Fedorov observed how vertical ocean mixing by hurricanes near the equator caused shallow parcels of water to heat up and later resurface in the eastern equatorial Pacific as part of the ocean wind-driven circulation. The researchers conclude from this pattern that frequent hurricanes in the central Pacific likely strengthened the warm pool in the eastern equatorial Pacific, which in turn increased hurricane frequency — an interaction described by Emanuel as a “two-way feedback process.”�The researchers believe that in addition to creating more hurricanes, the intense hurricane activity likely created a permanent El Nino like state in which very warm water in the eastern Pacific near the equator extended to higher latitudes. The El Nino weather pattern, which is caused when warm water replaces cold water in the Pacific, can impact the global climate by intermittently altering atmospheric circulation, temperature and precipitation patterns.The research suggests that Earth’s climate system may have at least two states — the one we currently live in that has relatively few tropical cyclones and relatively cold water, including in the eastern part of the Pacific, and the one during the Pliocene that featured warm sea surface temperatures, permanent El Nino conditions and high tropical cyclone activity.Although the paper does not suggest a direct link with current climate models, Fedorov said it is possible that future global warming could cause Earth to transition into a different equilibrium state that has more hurricanes and permanent El Nino conditions. “So far, there is no evidence in our simulations that this transition is going to occur at least in the next century. However, it’s still possible that the condition can occur in the future.”�Whether our future world is characterized by a mean state that is more El Nino-like remains one of the most important unanswered questions in climate dynamics, according to Matt Huber, a professor in Purdue University’s Department of Earth and Atmospheric Sciences. The Pliocene was a warmer time than now with high carbon dioxide levels. The present study found that hurricanes influenced by weakened atmospheric circulation — possibly related to high levels of carbon dioxide — contributed to very warm temperatures in the Pacific Ocean, which in turn led to more frequent and intense hurricanes. The research indicates that Earth’s climate may have multiple states based on this feedback cycle, meaning that the climate could change qualitatively in response to the effects of global warming.
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    The Pliocene epoch is the period in the geologic timescale that extends from 5 million to 3 million years before present. Although scientists know that the early Pliocene had carbon dioxide concentrations similar to those of today, it has remained a mystery what caused the high levels of greenhouse gas and how the Pliocene's warm conditions, including an extensive warm pool in the Pacific Ocean and temperatures that were roughly 4 degrees C higher than today's, were maintained. In a paper published February 25 in Nature, Kerry Emanuel and two colleagues from Yale University's Department of Geology and Geophysics suggest that a positive feedback between tropical cyclones - commonly called hurricanes and typhoons - and the circulation in the Pacific could have been the mechanism that enabled the Pliocene's warm climate.
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Big Content condemns foreign governments that endorse FOSS - 0 views

  • University of Edinburgh law lecturer Andres Guadamuz wrote a blog entry this week highlighting some particularly troubling aspects of the IIPA's 301 recommendations. The organization has condemned Indonesia and several other countries for encouraging government adoption of open source software. According to the IIPA, official government endorsements of open source software create "trade barriers" and restrict "equitable market access" for software companies. The profound absurdity of this accusation is exacerbated by the fact that Indonesia's move towards open source software was almost entirely motivated by a desire to eliminate the use of pirated software within the government IT infrastructure. It's important to understand that Indonesia has not mandated the adoption of open source software or barred government agencies from purchasing proprietary commercial software. The Indonesian government issued a statement in 2009 informing municipal governments that they had to stop using pirated software. The statement said that government agencies must either purchase legally licensed commercial software or switch to free and open source alternatives in order to comply with copyright law. This attempt by Indonesia to promote legal software procurement processes by endorsing the viability of open source software has apparently angered the IIPA. In its 301 recommendations for Indonesia, the IIPA demands that the government rescind its 2009 statement. According to the IIPA, Indonesia's policy "weakens the software industry and undermines its long-term competitiveness" because open source software "encourages a mindset that does not give due consideration to the value to intellectual creations [and] fails to build respect for intellectual property rights." The number of ways in which the IIPA's statements regarding open source software are egregiously misleading and dishonest are too numerous to count. The IIPA seems to have completely missed the fact that there is a very robust ecosystem of commercial software vendors in the open source software market and that open source software is at the heart of some of the most popular consumer electronics products that are sold in the United States. It has clearly become an important part of the US software economy and increasingly serves as an enabler of innovation and technological progress. In light of the profitability of Red Hat and other open source leaders, it seems absurd to contend that open source software adoption will weaken the software industry or reduce its competitiveness. In fact, the emergence of open source software has contributed to creating a more competitive landscape in the software industry by offering alternative business models that enable smaller companies to gain traction against the dominant incumbent players. The IIPA's position is profoundly hypocritical, because many parts of the US government, including the Department of Defense, have issued their own memos endorsing open source software adoption. The IIPA's disingenuous move to equate open source software with piracy reeks of desperation. The BSA and other IIPA members are likely losing sleep over open source software because that development model and approach to licensing will empower developing countries to build their own domestic IT industries, eliminating the need for them to tithe to American software giants. It's another failing of the 301 review, which Big Content wants used to coerce other countries into adopting ever-more-stringent copyright laws.
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    In accordance with US trade law, the Office of the US Trade Representative (USTR) is required to conduct an annual review of the status of foreign intellectual property laws. This review, which is referred to as Special 301, is typically used to denounce countries that have less restrictive copyright policies than the United States. The review process is increasingly dominated by content industry lobbyists who want to subvert US trade policy and make it more favorable to their own interests. We have already noted the targeting of Canada for its supposedly lax copyright laws, but that is not the only nation drawing the ire of Big Content. One of the organizations that plays a key role in influencing the Special 301 review is the International Intellectual Property Alliance (IIPA), a powerful coalition that includes the RIAA, the MPAA, and the Business Software Alliance (BSA). The IIPA, which recently published its official recommendations to the USTR for the 2010 edition of the 301 review, has managed to achieve a whole new level of absurdity.
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Big majority wants Wall Street regulation - U.S. business- msnbc.com - 0 views

  • A Harris release on the February 16-21 telephone survey of 1,010 adults did not specify how financial regulation should be applied but said three-quarters of Americans believe Wall Street companies should pay bonuses only while in the black.Story continues below ↓advertisement | your ad heredap('&PG=NBCMSB&AP=1089','300','250');Harris said the U.S. public does see value in Wall Street itself: nearly 60 percent say the financial sector is an essential benefit to the United States.But a slightly larger majority disagrees that what is good for Wall Street is good for the country, while about two-thirds harbor strong negative views about the people who work there.By a margin of 66 percent to 29 percent, Americans agree that "most people on Wall Street would be willing to break the law if they believed they could make a lot of money and get away with it," pollsters found.Sixty-five percent say most successful people on Wall Street do not deserve the kind of money they make.
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    An overwhelming majority of Americans wants Wall Street subjected to tougher regulation in the aftermath of the bank bailout and the bonus scandals that have rocked the U.S. financial sector, according to a Harris poll released on Thursday. The findings suggest that 82 percent of Americans want the government to clamp down more strongly on Wall Street excesses, with a particular emphasis on bonus schemes that have rewarded employees at loss-making companies such as American International Group.
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Hef does it again! - 1 views

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    Hugh Hefner engaged to 24-year old Crystal Harris.
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Income Inequality and the 'Superstar Effect' - NYTimes.com - 0 views

  • In 1982, the top 1 percent of pop stars, in terms of pay, raked in 26 percent of concert ticket revenue. In 2003, that top percentage of stars — names like Justin Timberlake, Christina Aguilera or 50 Cent — was taking 56 percent of the concert pie.
  • . In an article entitled “The Economics of Superstars,” he argued that technological changes would allow the best performers in a given field to serve a bigger market and thus reap a greater share of its revenue. But this would also reduce the spoils available to the less gifted in the business.
  • IF one loosens slightly the role played by technological progress, Dr. Rosen’s framework also does a pretty good job explaining the evolution of executive pay. In 1977, an elite chief executive working at one of America’s top 100 companies earned about 50 times the wage of its average worker. Three decades later, the nation’s best-paid C.E.O.’s made about 1,100 times the pay of a worker on the production line.
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  • CAPITALISM relies on inequality. Like differences in other prices, pay disparities steer resources — in this case, people — to where they would be most productively employed.
  • In poor economies, fast economic growth increases inequality as some workers profit from new opportunities and others do not. The share of national income accruing to the top 1 percent of the Chinese population more than doubled from 1986 to 2003.
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    What impact do the incredible salaries of superstars have on the rest of us? What has changed, technologically and socially, to precipitate these inequities? This article also offers a brief look at the relationship between income inequality and economic growth, comparing the US throughout its history and the US vis a vis several European countries. (Part 1 of 2)

Effectively Seize Cheating Partner - 1 views

started by Chiki Smith on 14 Oct 11 no follow-up yet
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Bernie Sanders Flirted With 100% Marginal Tax on the Rich, Maximum Wage - Bloomberg Pol... - 0 views

  • “No. That's not 90 percent of your income, you know? That's the marginal.”
    • Bakari Chavanu
       
      Marginal tax is simply the amount of tax paid on an additional dollar of income. As income rises, so does the tax rate. This is different than a flat tax rate where you pay the same rate of tax no matter what your income level is.
  • Sanders is described as wanting to “make it illegal to amass more wealth than a human family could use in a lifetime.” He would do that, the article said, with “a 100 percent tax on incomes above this level ($ one million per year)” and “would recycle this money for the public need.”
  • he still had the issue on his mind while serving in the House in 1992, entering into the Congressional Record a Los Angeles Times op-ed written by Sam Pizzigati, the author of The Maximum Wage. In that piece, Pizzigati details President Franklin Delano Roosevelt’s proposal for a “100% war supertax,”
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  • Pizzigati noted that there’s been momentum in recent years to cap executive salaries and bonuses but that “Sanders saw the importance of thinking about that much earlier than everybody else.”
  • Benjamin Spock, who advocated capping incomes and inheritances. Spock believed that “not only should every family of four receive a minimum income of $6,500 annually but the wealthy should be entitled to a maximum income of $50,000 and a minimum annual inheritance of $55,000,” according to a Burlington Free Press article from September of that year.
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