Category: Politics

People Aren’t Smart Enough for Democracy to Flourish, Scientists Say

The research, led by David Dunning, a psychologist at Cornell University, shows that incompetent people are inherently unable to judge the competence of other people, or the quality of those people’s ideas. For example, if people lack expertise on tax reform, it is very difficult for them to identify the candidates who are actual experts. They simply lack the mental tools needed to make meaningful judgments.

As a result, no amount of information or facts about political candidates can override the inherent inability of many voters to accurately evaluate them. On top of that, “very smart ideas are going to be hard for people to adopt, because most people don’t have the sophistication to recognize how good an idea is,” Dunning told Life’s Little Mysteries. Continue reading “People Aren’t Smart Enough for Democracy to Flourish, Scientists Say”

Is It 3rd Party Time In 2012?

“We basically have two bankrupt parties bankrupting the country,” said the Stanford University political scientist Larry Diamond. Indeed, our two-party system is ossified; it lacks integrity and creativity and any sense of courage or high-aspiration in confronting our problems. We simply will not be able to do the things we need to do as a country to move forward “with all the vested interests that have accrued around these two parties,” added Diamond. “They cannot think about the overall public good and the longer term anymore because both parties are trapped in short-term, zero-sum calculations,” where each one’s gains are seen as the other’s losses.

We have to rip open this two-party duopoly and have it challenged by a serious third party that will talk about education reform, without worrying about offending unions; financial reform, without worrying about losing donations from Wall Street; corporate tax reductions to stimulate jobs, without worrying about offending the far left; energy and climate reform, without worrying about offending the far right and coal-state Democrats; and proper health care reform, without worrying about offending insurers and drug companies.

via Op-Ed Columnist – Third Party Rising – NYTimes.com.

The Coming VAT Tax Exemptions Quagmire

“Food of the kind used for human consumption,” to a British bureaucrat, is something “the average person, knowing what it is and how it is used, would consider it to be food or drink; and it is fit for human consumption. . . . The term includes . . . products like flour, which, although not eaten by themselves, are generally recognized food ingredients . . . [but] would not usually include . . . dietary supplements, food additives and similar products, which, although edible, are not generally regarded as food.”And so, in the United Kingdom, according to the regulations of Her Majesty’s Inland Revenue Service, crackers made from tapioca starch carry no tax; prawn crackers made from cereals do. Frozen yogurt that needs to be thawed before eating is zero rated, frozen yogurt bears the tax. Get it? If you don’t, too bad—Her Majesty’s tax collectors are not in the habit of offering an explanation for their regulations.

This process of writing regulations for the VAT man when he cometh is more than merely amusing. For one thing, it confers enormous power on faceless bureaucrats.

They can hand a competing product the advantage in the U.K. of a price 17.5% lower (in Sweden it’s 25%) than a close substitute. That invites both lobbying and corruption and sheer, inexplicable arbitrariness. Get your “sweetened dried fruit” deemed to be “held out for sale as snacking and home baking” and your product will bear a tax and have to compete on grocers’ shelves with zero-rated “sweetened dried fruit held out for sale as confectionary/snacking.” Peddle your sandwiches “as a general grocery item” and consumers pay no tax, but offer them as “part of a buffet service” and the VAT man wants his 17.5%.

via Irwin Stelzer: Small Bras and the Value-Added Tax – WSJ.com.

The Real Rogue Of 2009: Levi Johnston

It’s unverifiable – but no less so than Palin’s autobiography. And compared with her bizarre, constantly changing stories and multiple lies about any number of empirically indisputable facts, Johnston’s monosyllabic yeses and nos and plain English eye-witness accounts that have never changed are like oases of sanity and calm.

When I got to meet Johnston, I asked him simply how he seemed so calm as a nineteen year old up against an international celebrity with millions of dollars and every pimp in the “publishing” and political industries trying to suck up to her. “Because I’m tellin’ the truth,” was his simple, and immediate answer.

I can’t know who’s telling the truth for sure. But after a decade of frauds enabled and abetted by political corruption and media cowardice, Palin might well be the biggest fraud of all, perpetrating a hoax so massive no one can quite see it. Perhaps the most memorable quote of the year came when Levi said quite simply, even after unloading all of the above:

“There are some things that I have that are huge. And I haven’t said them because I’m not gonna hurt her that way … I have things that can, you know — that would get her in trouble, and could hurt her. Will hurt her. But I’m not gonna go that far. You know, I mean, if I really wanted to hurt her, I could, very easily. But there’s — I’m not gonna do it. I’m not going that far.

Or as he also put it:

:She knows what I got on her.”

But the rest of us don’t.

Yet.

via The Real Rogue Of 2009: Levi Johnston – The Daily Dish | By Andrew Sullivan.

Top 1% Taxes Exceeds That of Bottom 95%

IRS data shows that in 2007—the most recent data available—the top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government. This is the highest percentage in modern history. By contrast, the top 1 percent paid 24.8 percent of the income tax burden in 1987, the year following the 1986 tax reform act.

blogTax20090729-chart1Remarkably, the share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined. In 2007, the bottom 95 percent paid 39.4 percent of the income tax burden. This is down from the 58 percent of the total income tax burden they paid twenty years ago.

To put this in perspective, the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined.

Some in Washington say the tax system is still not progressive enough. However, the recent IRS data bolsters the findings of an OECD study released last year showing that the U.S.—not France or Sweden—has the most progressive income tax system among OECD nations. We rely more heavily on the top 10 percent of taxpayers than does any nation and our poor people have the lowest tax burden of those in any nation.

via The Tax Foundation – Tax Burden of Top 1% Now Exceeds That of Bottom 95%.

Social Security and Madoff – Both Pyramid Schemes

madof121820081. Legitimate investment vehicles take investor funds and invest them in businesses, real estate, and other assets. These investments are intend to generate returns for shareholders. Madoff didn’t do this. He paid off early investors with cash from subsequent investors. Investment assets were never purchased.

Similarly, Social Security has no investments. It pays retirees benefits with cash deposited by younger workers. What’s worse is that Social Security has taken in a surplus of funds over the years. Instead of investing the extra funds legitimately, the government spent it on other programs. Now Social Security is completely unfunded — something that’s illegal for companies to do but not the government.

2. Madoff’s early investors received excellent returns, which averaged 12 percent to 14 percent a year. Similarly, Social Security provided excellent returns to its early participants. The first person to receive monthly Social Security benefits was a woman named Ida May Fuller. She paid $24.75 total into the Social Security system over a three year period, and received $22,889 during her lifetime. Even Madoff was not so egregious to provide such a large return to his early investors. Continue reading “Social Security and Madoff – Both Pyramid Schemes”

Barack Obama’s Speech Writer – Jon Favreau

He is too busy to read much. “I’m embarrassed to say that since college” — Favreau graduated from Holy Cross in 2003 — “I’ve been so busy speechwriting for Kerry and then Barack that I haven’t been reading all the good literary stuff I used to read back in the day.” As for speechcraft, while he says the speeches of Bobby Kennedy are his favorites, he also says Peggy Noonan is his all-time favorite speechwriter. He cites Ronald Reagan’s Pointe du Hoc speech marking the fortieth anniversary of D-day as his favorite of hers,

via Barack Obama’s Speech Writer – Jon Favreau Writes Speeches for Obama – Esquire

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The Rich Elected Obama

Top Clinton advisor Mark J. Penn points out that…the exit poll demographics show that the fastest growing group of voters in America has been those making over $100,000 a year in income. In 1996, only 9 percent of the electorate said their family income was that high. Last week it had grown to 26 percent — more than one in four voters. And those making over $75,000 are up to 15 percent from 9 percent. Put another way, more than 40 percent of those voting earned over $75,000, making this the highest-income electorate in history.

The poorest segment of the electorate, those making under $15,000, has shrunk from 11 percent to 6 percent over the past dozen years. And those making $15,000 to $30,000 annually — the working poor — also shrunk from 23 percent to 12 percent of the electorate.

President Clinton got 38 percent of the vote among those making over $100,000. This year Obama earned 49 percent of that vote. He also got 52 percent of a new polling category — those making over $200,000 a year who were no longer among the top 1 percent of earners, as they had been in past elections, but were now the top 6 per cent. Continue reading “The Rich Elected Obama”