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Friday 1002

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  The Myth of The Goodness of The 1950s Eisenhower 90 Percent Income Tax Rate Mostly from article: The Good Ol' Days: When Tax Rates Were 90 Percent - Andrew Syrios Bernie Sanders has noted “When radical, socialist Dwight Eisenhower was president, the highest marginal tax rate was 90 percent.” But how much the rich were actually paying? Back in the 1950s, the government wasn’t actually collecting any more in tax revenue as a percentage of GDP than now. There’s something called Hauser’s Law, which states there is a maximum threshold on how much the government can tax out of its population. Figure A shows a history of income tax receipts compared to the top marginal tax rate. … No matter what the rate has been, the tax revenues have pretty much been the same. Tax receipts from personal income taxes have consistently been between 7 and 9 percent. In 2014, they were 8.1 percent. In 2024, federal revenue received from personal income taxes was $2.43 trillion / $24.86 trillion GDP = 10 p...
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Thursday 1001

  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 10 Money and Prices in the Long Run Chapter 29 of 36 Money Growth and Inflation Section 5 of 29 … Secondly we consider money demand. Fundamentally, the demand for money depends on how much wealth people want to hold in liquid (easily spendable) form, as money rather than invested. … The quantity of money demanded mainly depends on the interest rate a person could earn, such as from buying an interest-bearing CD, rather than holding more cash or more in a checking account. Another variable affecting the demand for money is the economy’s price level. People hold money because it is the medium of exchange. Unlike other assets, people can use money to buy goods and services. … How much money people hold for purchases also depends on the prices of those goods. The higher prices are · the more money the average transaction requires · the more money people will hold in their wallets and checking accounts So, a...
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Wednesday 930

  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 10 Money and Prices in the Long Run Chapter 29 of 36 Money Growth and Inflation Section 4 of 29 … How is the value of money determined? The answer is supply and demand. In developing the quantity theory of money our next step is consideration of the determinants of money supply and money demand. First we’ll consider money supply. … When the Federal Reserve Bank (the Fed) sells bonds in open-market (public) operations it receives dollars in exchange. This contracts the money supply because now less money is in circulation, it’s being held at the Fed. When the Fed buys government bonds it pays out dollars to the public in exchange. This expands the money supply because now more money is in circulation. When these paid-out dollars are deposited in banks · banks hold some as reserves and loan out the rest · the money multiplier goes into effect · creating a further increase in the money supply … In this cha...
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Tuesday 929

  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 10 Money and Prices in the Long Run Chapter 29 of 36 Money Growth and Inflation Section 3 of 29 … Our study of inflation begins by developing the quantity theory of money. This theory is called the Classical Theory of Inflation because it was developed by some of the earliest economic thinkers. Most current economists rely on this theory to explain the long run determinants of the price level and the inflation rate. … Over the last century the price of an ice cream cone has risen from a nickel to a dollar. Why are people today willing to pay so much more money for a cone? It is possible people nowadays enjoy ice cream more? The actual reason people now pay more for ice cream and all products is over time money has become less valuable. … The first insight of inflation is it is more about the value of money than about the value of goods. When the consumer price index and other price indexes rise commenta...
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Monday 928

  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 10 Money and Prices in the Long Run Chapter 29 of 36 Money Growth and Inflation Section 2 of 29 … Most prices rise over time, this increase in the level of prices is called inflation. We have seen how economists measure the inflation rate as the percentage change in the consumer price index (CPI) and other indexes. These price indexes show over the past 70 years prices have risen an average of about 4% per year. Over 70 years, a 4% annual inflation rate results in a sixteen times increase in the price level. On average something that cost one dollar 70 years ago costs $16 now. … Inflation may seem natural and inevitable, but it is not. There were periods in the 19th century when most prices fell, an occurrence called deflation. The average price level in the U.S. economy was 23% lower in 1896 than in 1880. Deflation was a major issue in the presidential election of 1896. Farmers with large debts suffere...
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Scot and Fumiko pictures and information

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  Fumiko Scot's information: Weight at 166 pounds, got to 160 pounds five years ago and have recently been bouncing between 163 and 168. 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, able eat good food and get enough exercise. Now spend 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 to Staine...
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HAT Manifesto Part 1 of 2 Rubric Cube Veracity and or Efficacy - 260802 edit

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  “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 “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 “Wherever good fortune enters, envy lays siege and attacks it. And when it departs, sorrow and repentance remain behind.” - Leonardo da Vinci “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 talents wou...
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