erest is profitable.
Since intended consumption has not changed, consumers compete with
investors for goods, driving up prices. The capital goods turn out to be
unprofitable investments, and the diminution of investment leads to a
downturn.
Fred Foldvary
> or indeed how it's possible to have
ock should be taxed, with a credit
for taxes paid at the corporate level. The capital gains tax could then be
eliminated.
Fred Foldvary
=
[EMAIL PROTECTED]
oting by the directors and executives. Some believe
that lower marginal tax rates will lead to more investment.
Fred Foldvary
=
[EMAIL PROTECTED]
imately get shifted to rent (cf. John Locke on
taxation). But once a tax on slaves and on buildings is designed as
direct, then so too must be taxes on a horse and carriage or any other
property.
Fred Foldvary
=
[EMAIL PROTECTED]
rate, from
less uncertainty about the company as it shifts to less debt and more
equity, as well as more investor confidence when the profits are sent to
the shareholders rather than retained by possibly theiving executives.
Fred Foldvary
=
[EMAIL PROTECTED]
on from reading about it is that the proposal does indeed cut
the tax on capital gains to the extent it is due to retained earnings, as
the attempt is neutrality with repect to paying dividends or not. However,
to truly do capital gains right, it needs to be indexed for inflation.
Fred Foldvar
--- Francois-Rene Rideau <[EMAIL PROTECTED]> wrote:
> What is the right technical name for what I call "accounting cost"?
These are often called "explicit costs" in contrast to "implicit costs".
Fred Foldvary
=
[EMAIL PROTECTED]
s violating the direct/indirect distinction, they referred to
Physiocratic doctrine.
Fred Foldvary
=
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t that against tax
liabilities of dividend income. To achieve neutrality, unrealized gains
should be taxed annually, and then we can forget about capital gains.
That being said, the income tax is inherently unjust, complex, and
burdensome, but that is another story.
Fred Foldvary
=
[EMAIL PROTECTED]
> Help please -- is there a good tract on Austrian tax policy, ordering or
> ranking various taxes?
> Tom Grey
Probably not, but a good book on tax policy and the effects of current
taxes is:
The Losses of Nations, ed. Fred Harrison, 1998, Othila Press,
ISBN 1 901647 15 3
Fred
them practically to a
direct levy on land. True, in some of these acts a tax on slaves was
included, but this inclusion, as has been said by this court, was probably
based upon the theory that these were in some respects taxable along with
the land,..."
Fred Foldvary
=
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e the change in actual net worth. If the change in net worth is
negative, it gets subtracted from consumption. It is possible for income
to be negative.
Fred Foldvary
=
[EMAIL PROTECTED]
a club and pay dues to get some services, do you then complain
that you paid money and got services?
Fred Foldvary
=
[EMAIL PROTECTED]
--- Susan Hogarth <[EMAIL PROTECTED]> wrote:
> < Larry Sechrest here -- viz., there are no neutral taxes. (Sechrest's
> position is laid out in his "Rand, Anarchy, and Taxes" in _The Journal
> of Ayn Rand Studies_ 1(2).)
>
> Do any of you agree?>>
>
> I suppose there *could* be a neutral tax, b
taxes on pollution.
Given a tax on land value and on pollution, plus user fees, why would we
also need a flat tax on income? It seems to me the former would be
sufficient.
Fred Foldvary
=
[EMAIL PROTECTED]
--- [EMAIL PROTECTED] wrote:
> I can't imagine any tax that would be "neutral"
A tax on economic rent is neutral, since by definition, economic rent is
income not necessary in order to put a factor to its most productive use.
Fred Foldvary
=
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lizes
others.
2) it forces workers to work extra to pay the tax in order to get some
amount of net income.
Fred Foldvary
=
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o be addressed GIVEN that
government exists and takes revenue.
Fred Foldvary
=
[EMAIL PROTECTED]
--- [EMAIL PROTECTED] wrote:
>> A tax on economic rent is neutral, since by definition, economic rent
>> is income not necessary in order to put a factor to its most
>> productive use.
>> Fred Foldvary >>
> I'm not sure if I'm following this, but it
ote being decisive in large elections is
epsilon, I would be very happy to have a voting tax and avoid voting.
I just wonder how many people would pay the price of voting.
Fred Foldvary
=
[EMAIL PROTECTED]
nd thus a tax on economic rent is neutral.
> a policy change can be "revenue neutral", clearly meaning total
> revenue is the same before, and after, the policy change.
That is another type of neutrality, and not what I am concerned with.
Fred Foldvary
=
[EMAIL PROTECTED]
--- [EMAIL PROTECTED] wrote:
> By "neutral" I actually thought you mean one that wouldn't prejudice
> people's economic behavior.
> By that definition I can't imagine any neutral tax.
Why can you not imagine that a tax on economic rent is neutral?
Fred Foldvary
=
[EMAIL PROTECTED]
n be taxed without any reduction in the amount
of land or any diminution of its productivity. If the landlord had already
been charging the maximum rent the market can bear, the tax on rent cannot
be passed on to tenants, so it is neutral with respect to economic action.
Fred Foldvary
=
[EMAIL PROTECTED]
quot;least worst" of all taxes. Adam Smith said so too.
Fred Foldvary
=
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a certificate.
Fred Foldvary
=
[EMAIL PROTECTED]
es his services at $1,000,000.
The question under debate is whether there is neutral taxation.
If the star plays for a team that pays him $1 million, and the government
taxes $800,000 of that, he will continue to play, so the tax did not alter
his incentives; the tax is neutral.
Fred Foldvary
=
[EMAIL PROTECTED]
ts most valued use.
If the tax is $899,999, this implies that the player was already getting
paid $1 million. The tax will not make the player leave.
Another team will not offer $100,001 because the premise was that the next
best opportunity was $100,000.
Fred Foldvary
=
[EMAIL PROTECTED]
ent.
In both cases, the player plays for A, so the tax did not affect his
choice.
Fred Foldvary
=
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rent of 90%, with income above $100,000 being
economic rent,
with a team that offers him $1 million, his net is 100,000+.1*900,000=
$190,000. With a team that offers him $210,000, his net is 100,000 +
.1*110,000 = 111,000. Why would he be indifferent between $190,000
and $111,000?
Fred Fold
--- Eric Crampton <[EMAIL PROTECTED]> wrote:
> On Sat, 18 Jan 2003, Fred Foldvary wrote:
>
> > 2) The government does not know the economic rent among the basketball
> > teams, but it does know that the next best opportunity if he does not
> play basketball is $100,000
one pays the same amount, and the
funds are used to provide a collective good. Since utility is subjective
and differs among persons, the value of the good would differ among the
persons. Thus there would be an implicit redistribution from those who
don't highly value the good to those
of war.
Does World War I and its initiation by the monarchies of Germany, Austria,
Turkey, the UK and Russia, fit this?
Fred Foldvary
=
[EMAIL PROTECTED]
People prefer a low chance of disaster than the sure trauma of changing
locations and affiliations.
Fred Foldvary
=
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onomic sense of the word?
In the sense of rivalry, there is plenty of competition in cities.
Maybe not in some rural areas.
Fred Foldvary
=
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o price supports, does this run with the
land or with the farmer?
Fred Foldvary
=
[EMAIL PROTECTED]
--- Grey Thomas <[EMAIL PROTECTED]> wrote:
> First off, if "macro" is at all close to a "science",
> there should be near unanimity, among macro "experts",
Is there unanimity among anthropologists and biologists and physicists and
medical researchers?
Fred Foldvary
=
[EMAIL PROTECTED]
on having begun before the Sept. 11 shock?
Fred Foldvary
=
[EMAIL PROTECTED]
d along with that is seen, and the total
and long-run effect along with the immediate and local effect. Tell the
journalists to "keep it real". Economics discovers and analyzes the
implicit realities.
Fred Foldvary
=
[EMAIL PROTECTED]
ept of opportunity
cost, the benefits of employing comparative advantage - there is as much
agreement as there is among physicists that F=MA.
Fred Foldvary
=
[EMAIL PROTECTED]
ro, the
http://econ.aplia.com online problem sets now include it.
Fred Foldvary
=
[EMAIL PROTECTED]
> excellent case could be made for either requiring the spectrum to be used
> for anything *but* television (best), or making television a government
> monopoly:
> ~Alypius
That reflects your personal preferences, but what is the moral
justification for imposing your anti-TV personal values?
Fred
te of the
investment, then the amount of funds today equals the present value.
Some charities have an urgent need at the present, such as earthquake aid
or feeeding people in a famine. If one gives later, it would be too late.
Fred Foldvary
=
[EMAIL PROTECTED]
about social reality.
It seems to me that paranoia is a belief, not a behavior. It can lead to
particular behaviors, but paranoia by itself is not sufficient to cause any
particular behavior.
Fred Foldvary
=
[EMAIL PROTECTED]
e body parts of animals for health and
sexuality, which is unscientific and threatens the survival of endangered
species. There seems to be an odd combination in East Asia of a fondness
for nature in the abstract, combined with bad treatment of animals in the
specific.
Fred Foldvary
=
[EMAIL PROTECTED]
perstructure providing funds
and supporting the outcome?
THAT is the real source of the problem.
Your overseer is just exploiting the system.
Fred Foldvary
=
[EMAIL PROTECTED]
--- john hull <[EMAIL PROTECTED]> wrote:
> Is an organism that routinely fails to optimize
> evolutionarily viable?
Human beings, for example?
Fred Foldvary
=
[EMAIL PROTECTED]
fundraising and plush offices.
It seems to me there is an entrepreneurial opportunity to provide a
comprehensive Guide to Charities that would list them and their expenses.
Fred Foldvary
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exclusive girlfriend
Fred Foldvary
=
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hat would create a market for the
highest and best social use of the spectrum.
Fred Foldvary
=
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off. The logic is exactly the same.
Fred Foldvary
=
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raising children; when one's child is born, one
should borrow enough money to create a fund that will pay for all the
child's expenses until his age of maturity, rather than pay for the child's
expenses every year out of one's income. Yet nobody does this!
Fred Foldvary
=
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ear and donate another dollar.
Fred Foldvary
=
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le set, just as shareholders of a corporation
may delegate to proxies.
Fred Foldvary
=
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socialist program in the USA.
Fred Foldvary
=
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e?
What is "socialism," what year does it take effect, and why is the time
element involved?
Fred Foldvary
=
[EMAIL PROTECTED]
ocialized money -- but now I'm not certain this is what you mean.
There are three meanings of "socialism":
1) the ownership of non-labor factors by workers.
2) the ownership or control of some of the economy by government.
3) an egalitarian redistribution of wealth.
I mean #2.
Fred Foldvary
=
[EMAIL PROTECTED]
nd out whether the insurance company has laid down this policy or whether
the employer is subsidizing the extra children.
Fred Foldvary
=
[EMAIL PROTECTED]
for socialism:
1) forced redistribution
2) command economy
3) government ownership
4) worker cooperatives; worker ownership of capital
5) forced collectivism
Fred Foldvary
=
[EMAIL PROTECTED]
ent times, indeed to pre-historical tribal
practice and belief?
Fred Foldvary
=
[EMAIL PROTECTED]
or not?
Does this take into account that workers may migrate or change their
commute destination?
Also, if labor has a fixed supply, does this include the premium for human
capital?
Fred Foldvary
=
[EMAIL PROTECTED]
es endow people with the intelligence to choose not to
have children when the cost and risk are high.
Fred Foldvary
=
[EMAIL PROTECTED]
hance the welfare of others by avoiding having children, that overall can
help the species flourish and reproduce.
Fred Foldvary
=
[EMAIL PROTECTED]
asset
> reallocation to keep an employee from holding more than 20 percent of his
> portfolio in company stock.
Better yet, use modern portfolio theory and invest only in index funds.
Fred Foldvary
=
[EMAIL PROTECTED]
> There are zero licensing requirements for farming.
> Eric
Are there no federal permits and grandfathering in agriculture?
Fred Foldvary
=
[EMAIL PROTECTED]
> i think there is a at least partial contradiction between the hypothesis
> of diminishing marginal return of income and the hypothesis that people
> care about consuming more than their neighbors or about earning more than
> their neighbors (Frank: Luxury Fever). If the latter is true than the
>
g has the same
utility as extra other goods or extra leisure.
Fred Foldvary
=
[EMAIL PROTECTED]
--- [EMAIL PROTECTED] wrote:
> I'd wager
> $10 that Davis will be recalled--and then win reelection.
> David
Does the recall law permit the incumbent to be on the ballot for the new
governor if he loses the recall?
Fred
=
[EMAIL PROTECTED]
ptimal strategy for the Democrats would be for Davis to win the recall
election, thus they are avoiding providing an attractive Democrat
alternative.
Fred Foldvary
=
[EMAIL PROTECTED]
Schwartzeneger will not run, so Riordan, a Republican 2002 primary-election
candidate, will run, and is most likely to win the plurality race.
Negative ads knocked him off the general election in 2002, but will not
work so easily this time.
> What's the predicted outcome?
> Fabio
=
[EMAIL
t borrowers who do not own real
estate would not borrow from a bank directly, but instead someone with real
estate would borrow and then relend the funds to the tenant and split the
tax savings?
Fred Foldvary
visit
Finland afterwards, and do not recall such frowning, but maybe that's
because I had just left the Baltics and Finland looked good by comparison.
Maybe the Finns are happiest in the sauna, and become sad when they have to
get dressed and go to work.
Fred Foldvary
The property tax, being most visible and
local, has been limited while the other taxes have risen.
Fred Foldvary
t;wholesale" is a fiction, actually being the real
retail price, and the "retail" price is a fiction that few would actually
buy at.
Fred Foldvary
> From: Bryan Caplan <[EMAIL PROTECTED]>
>
> The company I'm buying a house from won't negotiate any part of the
> basic contract. Why not?
What kind of company is this? A developer?
Fred Foldvary
of the United Libertarian Fellowship
in California, imprisoned some members, and confiscated computers and
papers.
Fred Foldvary
rge change when viewed from the center, while an
extremist who changes seems not to change so much when viewed from the
center rather than from the extreme perspective.
Close objects seem to move a large distance, while far away ones seem to
move only a small distance, even thought the movement
e inflexible because we
are not shocked by the idea, while for non-mainstream views such as
neo-Nazis, their refusal to budge is more apparant and shocking. Even if
they do budge a little, they would still be in an extreme position, and
the movement would not seem like much when viewed from the center.
Fred Foldvary
calling
a broker and selling your options?
Fred Foldvary
t and time to make changes and gather
information, so inertia is to be expected. Optimality is subjective rather
than being based on objective rewards. The reasons for anchoring (being
stuck on certain concepts even though not objectively true or optimal) and
information bias are the subject area of ps
A testing does not seem to be a factor in that case. Abu-Jamal,
who claims to be innocent, was at the scene when a police officer was
killed, but his gun was not tested. That case has attracted global
attention and may further the secular global trend against the death
penalty after he is execut
age masks many bankruptcies that in practice wipe out
financial wealth. I recall reading that many, if not most, investors
actually do worse than market averages.
Fred Foldvary
ed that the
public would prefer policies that have less waste and social cost than
those which have more, other elements being equal.
Fred Foldvary
s get asked if they mind sharing a table.
The free riding mostly occurs for folks getting one drink and then sitting
for a long time. But as long as tables are available, it doesn't matter.
Much of the business is to-go, anyway. Lap-top users get electricity at
no extra charge, so f
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