Gallup: Americans Favor "Buffett Rule" by 60% to 37%

[Torie]

Have a couple of degrees in music composition, which is probably as mathematical as you can get within the artistic community outside of architect.

I think I know how seriously to take this, but will not say that much at this time.

A talent for mathematics and musical composition are quite significantly correlated actually. Apparently both disciplines work the same part of the brain. Never having done musical composition, I have no anecdotal opinion. But that is what the literature suggests.

[Grad Students are the Worst]

Have a couple of degrees in music composition, which is probably as mathematical as you can get within the artistic community outside of architect.

I think I know how seriously to take this, but will not say that much at this time.

A talent for mathematics and musical composition are quite significantly correlated actually. Apparently both disciplines work the same part of the brain. Never having done musical composition, I have no anecdotal opinion. But that is what the literature suggests.

Sure.  Indirectness, correlation or otherwise, can be Sam's specialty sometimes

[I Can't Get That Sound You Make, Out Of My Head]

Good.

37% of people are either misguided or are the 1%.

[cavalcade]

[sees a poll saying that Americans favor repealing Obama's health care law by 56% to 37%]

[re-reads post]

[is amused]

[Thanks for all the fish!]

Response to Torie regarding the capital gains rate:

An important effect of lowering the capital gains rate has been that people now prefer to have stocks in companies which don't pay dividends.  The result is that companies pay less in dividends and have more money.  Some companies can find things to do with the extra money like invest in R & D.  Other companies (Proctor & Gamble, as an example) get lesser returns out of R & D, and so it's advantageous to sit on the money and lower dividend payments.

My point being: a lower capital gains rate (relative to the income tax rate) decreases the velocity of money by discouraging dividend payments.  Right now, we need to increase velocity of money.

Yes, I do understand the argument that higher capital gains rates lead to less investment.  It makes sense and is probably true.  However, I believe the above to be an important factor as well in the opposite direction.  I took a look at the historical record of capital gains tax rates, and found a somewhat spotty record of correlation with recessions and booms.

In short, it's not at all obvious that raising the capital gains rate is the worst thing we can do.