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December 3rd, 2008

If we undertax the rich and undertax corporations, then the executives and their buddies hoard the cash that’s coming into those corporations and give it to themselves, like these auto execs have been doing. If they lay off workers, that increases the amount of money they can pocket before they move on to the next corporation.

If we greatly increase the marginal tax rates for rich people and their corporations, on the other hand—well, first, what Joe would say is that the rich people would sit on their (already shiftless) butts and the corporations would just sit around doing nothing. What actually happens is that instead of pocketing the excess cash it gets put to work—it is invested in the company and its infrastructure, producing creativity and wealth, and maybe even executives will stay with the same company for a career, getting paid well but not ridiculously well, and almost surely getting more satisfaction and reduced anxiety compared to today’s (shiftless, parasitic, wealth-destroying) big executives.

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Comments

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    In case it matters, the most recent confirmed lahar is about 500 years ago, but there were mixed reports of eruptions in the late 1800s.
  • 25 Mar 2014, 01:20
    Pretty low until you jinxed them.
  • 25 Mar 2014, 01:01
    What would you estimate the odds to be of it happening in the next 200 years?
  • 27 Jan 2014, 06:22
    Thinking about it further, I think I now understand. You're saying the WSJ is being antisemitic, not the people they're quoting.

    I don't think they'd listen to it coming from us, but a…
  • 27 Jan 2014, 06:09
    I'm not noticing it either. Seems to me they *are* being assholes to Jews, but only moreso than anybody else if we happen to be in the way. I think that's gneral-purpose assholery, not…
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