Skip to main content

Thinking real hard while watching TV

On "Morning Joe" yesterday, Joe Scarborough took a stand against President Obama's plan to raise taxes on income above $250,000, saying that if you're a small business owner making $265,000, raising taxes during these difficult economic times will burden you so much and make you so much less likely to hire more workers. (Sorry, I can't be bothered to find you the quotes showing exactly what he said.)
I guess he used $265,000 because that's only, what, five times the median household income in this country, and any number beyond that would seem to validate the point that these people who might pay higher taxes on their income above $250,000 next year are rich enough that they can afford it.
As I listened to Joe pity those poor small business owners struggling to get by with only a quarter million dollars a year, I did some basic math:
Of the $265,000, it's only $15,000  that's going to be affected by the rates reverting to pre-2001 levels. And the tax rate for that amount will rise from 35 percent to 39.6 percent. So that's a 4.6 percentage point increase.One percent of $15,000 is $150. Multiply that by 4.6 and you get $690.
So basically the struggling business owner making more than 98 percent of the country will have to forgo updating his iPad next year to be left with the same amount of money as this year.


  1. This comment has been removed by the author.

  2. It would be interesting to see what the average viewer's math would be on Morning Joe's statement.

    My guess would be that they would imagine $265,000 as revenue instead of income, and an entire 15% tax increase on that number.


Post a Comment

Popular posts from this blog

Why Did Reality Winner Leak to the Intercept?

So Reality Winner, former NSA contractor, is in federal prison for leaking classified information — for five years and three months, the longest sentence of any whistleblower in history. She gave documents on how Russia had attempted to hack vendors of election machinery and software to The Intercept , which completely bungled basic security procedures (according to a recent New York Times piece from Ben Smith, the main fault lay with Matthew Cole and Richard Esposito ), leading to her capture within hours. Winner recently contracted COVID-19 in prison, and is reportedly suffering some lingering aftereffects. Glenn Greenwald has been furiously denying that he had anything at all to do with the Winner clusterfuck, and I recently got in an argument with him about it on Twitter. I read a New York story about Winner, which clearly implies that she was listening to the Intercepted podcast of March 22, 2017 , where Greenwald and Jeremy Scahill expressed skepticism about Russia actually b

Varanus albigularis albigularis

That is the Latin name for the white-throated monitor lizard , a large reptile native to southern Africa that can grow up to two meters long (see pictures of one at the Oakland Zoo here ). In Setswana, it's called a "gopane." I saw one of these in my village yesterday on the way back from my run. Some kids from school found it in the riverbed and tortured it to death, stabbing out its eyes, cutting off its tail, and gutting it which finally killed it. It seemed to be a female as there were a bunch of round white things I can only imagine were eggs amongst the guts. I only arrived after it was already dead, but they described what had happened with much hilarity and re-enactment. When I asked why they killed it, they said it was because it would eat their chickens and eggs, which is probably true, and because it sucks blood from people, which is completely ridiculous. It might bite a person, but not unless threatened. It seems roughly the same as killing wolves tha

Caffeine Is Not a Bioweapon

I got into a discussion with Yves Smith about caffeine here , and somehow my comment got eaten, so I'd like to finish it up here. She said about this Raw Story piece about a girl who allegedly died from drinking two Monster drinks in two days, "The FDA lapse here is terrible. Caffeine is extremely toxic. We just happen to get highly diluted doses in coffee and tea." I commented: Yves, your implication about caffeine is incorrect on several levels. Most Monster drinks have about 10 mg of caffeine per fluid ounce, which is much less than even drip coffee (18 mg/oz) and WAY less than espresso (51 mg/oz). ( Source ) The whole idea of dilution is misguided in any case. The relevant measurement for caffeine intoxication (and most poisoning generally) is the total amount taken, not the concentration. Concentration is something to worry about, as it can make a lethal dose easier to take on, but the main concern there is pure caffeine pills, not energy drinks which are mostl