Friday, November 17, 2017

Nattering Economists

On the radio the other morning.

One said that under the GOP tax plan people making less than $100,000?  For a lot of them, their tax rate is going to go up!

OH NO!

Wait.  Tax Rate?  You specifically said 'Tax Rate', not tax or taxes.  I don't care what that rate number is.  Will I write a check to the treasury for more than I pay now or not?  Rate doesn't matter, the dollar amount does.  Will I pay more or less.  Rate is meaningless. 

Phrasing it that way and not being called on it is a biased argument and against my interests.

They also talk about how the precious mortgage deduction is getting assailed.  Yes, last I checked for mortgages bigger than $500,000.  If you can afford a mortgage that high, you probably put at least $100,000 down.  So, I am not very sympathetic to someone not being able to take a mortgage deduction on that last $10,000 borrowed for a home that cost $610,000.  Enjoy your lovely home.   Gonna tax you 39% of $400 this year you wouldn't have paid last year, or something. 


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Then Ron Wyden was heard:  "Like Yogi Bear says, It's tough to make predictions, especially about the future."

Yeah.  He said Yogi Bear.  Not Berra.  I'd have thought it a slip but Wyden is pretty damn dumb throughout the interview.  Like a bag of hammers, he.


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