Posts

Image
  Tax Basics Mostly from article Tax Basics In Five Charts. Adam Michel. February 28, 2024. Cato Institute. It is natural to wonder where the $4.4 trillion the federal government collected last year came from and what it funds, or doesn’t. Newly released data from the IRS show the federal tax system remains highly progressive (the higher the income the higher the tax percent rate) and has become more progressive over time. The highest‐​income Americans pay a disproportionate share of income taxes and face the highest average tax rates across all federal taxes. Despite high tax rates on some, the United States is a relatively low‐​tax country. But with a projected $2 trillion annual gap between revenue and spending over the next decade, it is unlikely to stay that way unless Congress cuts spending. … Most federal revenue comes from taxes on income, i.e. income taxes. Americans paid roughly $6.5 trillion in taxes across all levels of government (federal, state, local) in 2023. ...
Post a Comment
Read more
Image
  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 5 Firm Behavior and the Organization of Industry Chapter 17 of 36 - Oligopoly Section 12 of 23 … Figure 3 - An Arms-Race Game In this game between two countries the safety and power of each country depend on both its decision whether to arm or disarm and the decision made by the other country. … The logic of the prisoners' dilemma in which self-interest prevents cooperation and leads to an inferior outcome for the two prisoners applies to many other situations. In the decades after World War II the world's two military superpowers, the U.S. and the Soviet Union (U.S.S.R.), were in a competition over military power. Consider the decisions of the U.S. and the U.S.S.R. about whether to build new weapons or to disarm. … Each country prefers to have more arms than the other because a larger arsenal would give it more relative power But each country also prefers to live in a safe world. Figure 3 shows...
Post a Comment
Read more
  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 5 Firm Behavior and the Organization of Industry Chapter 17 of 36 - Oligopoly Section 11 of 23 … Much of the world's oil is produced by a few countries. These countries make up an oligopoly. Their decisions about quantity of oil to pump and supply are the same as Jack and Jill's decisions about water. In 1960 an oil-producing countries cartel was formed, the Organization of Petroleum Exporting Countries (OPEC). Original members included Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. By 1973 these others had joined: Qatar, Indonesia, Libya, the United Arab Emirates, Algeria, Nigeria, Ecuador, and Gabon. … The OPEC countries have about three quarters of the world's oil reserves. OPEC, acting as an oligopoly tries to control the price of oil with coordinated limiting of quantity produced by setting production levels for each of the member countries. The problem OPEC has is the same as with...
Post a Comment
Read more
Image
  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 5 Firm Behavior and the Organization of Industry Chapter 17 of 36 - Oligopoly Section 10 of 23 ... Figure 2 - Jack and Jill's Oligopoly Game In this game between Jack and Jill profit each earns from selling water depends on both the quantity he or she chooses to sell and the quantity the other chooses to sell. … The game oligopolists play in trying to reach the monopoly outcome is similar to the game two prisoners play in the prisoners' dilemma. Consider the choices for Jack and Jill, per Table 1. These two water suppliers negotiate and agree to keep production at 30 gallons each for a total of 60. The price will be kept at $60 and together they will earn the maximum total profit of $3600, $1800 each. After they agree on production levels of 30 gallons each they must decide whether to cooperate and live up to this agreement or to ignore it and produce a greater quantity. … Figure 2 shows how the pro...
Post a Comment
Read more
Image
  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 5 Firm Behavior and the Organization of Industry Chapter 17 of 36 - Oligopoly Section 9 of 23 … Figure 1 - The Prisoners' Dilemma Game Theory ChatGPT: game theory is the study of how people or groups make decisions in situations where the outcome depends on the choices of multiple players. Each player chooses a strategy, aiming to maximize their own benefit, while considering what others might do. A key concept is the Nash Equilibrium, where no player can do better by changing only their own strategy. Game theory helps explain competition, cooperation, and conflict in economics, politics, and everyday life. … In this game two criminals are suspected of committing a crime. The sentence each receives depends both on · his or her decision whether to confess or remain silent · the decision made by the other prisoner … Oligopolies would like to reach the monopoly outcome, where profit is maximized. Doi...
Post a Comment
Read more

Scot and Fumiko pictures and information

Image
  Fumiko Scot's information: Weight at 163 pounds, got to 160 pounds five years ago and have recently been bouncing between 163 and 170. Common sense ways to lose and keep off weight are eat right and light and get lots of exercise. Main exercise is walking, do 1~2 miles most days. Over career worked as a salesman in the steelmaking, fasteners, and auto manufacturing industries, lots of travel in U.S., Canada, Mexico, and Japan. Have visited every U.S. city with a major league, MLB, NFL, NBA, NHL, sports team except Sacramento, have gotten as close as Travis Air Force Base. Often traveled on Sundays, much time on the road so could not eat right and get enough exercise so got heavy, up to 200 lbs. Was on commission and made enough to retire early, now eat right and light, get enough exercise. Now am spending most time reading and writing. Our Wick branch goes back to the brother of owner of the Wick House at Morristown National Historical Park in Morristown New Jersey, and on back t...
Post a Comment
Read more

HAT Manifesto Part 1/3 - Rubric Cube - 250406 edit

Image
  1. The world we see that seems so insane is the result of a belief system that is not working. To perceive the world differently, we must be willing to change our belief system, let the past slip away, expand our sense of now, and dissolve the fear in our minds. - William James 2. All experience has shown mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. - Thomas Jefferson 3. Wherever good fortune enters envy lays siege and attacks it. And when it departs, sorrow and repentance remain behind. - Leonardo da Vinci 4. Struggle is the indispensable accompaniment of progress. If men were entirely social, man would stagnate. A certain alloy of individualism and competition is required to make the human species survive and grow. Without qualities of an unsocial kind men might have led an Arcadian shepherd life in complete harmony, contentment, and mutual love. But in that case all their t...
Post a Comment
Read more