June 7, 2018

Thursday Off-Topic (Moderated) Open Thread (060718)

Filed under: Lucid Links — Tom @ 6:00 am

This open thread is meant for commenters to post on items either briefly noted below (if any) or otherwise not covered at this blog. Rules are here.

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7 Comments

  1. I have never thought of applying the economic principle of price elasticity to “BS”, but someone did.

    What’s Wrong with the American Academy

    A colleague of mine in the economics department once said, “when the price of bullshit is zero, demand is inelastic.” A corollary of this principle is that when the price of bullshit is zero, the supply of bullshit is infinite, especially when there are tangible gains for bullshitters. [...]

    I’m going to have to remember this economic lesson.

    Comment by Par for the Course — June 7, 2018 @ 8:10 am

  2. Actually, a sad but good lesson.

    Comment by Tom — June 7, 2018 @ 9:53 am

  3. She’s Out! Alice Johnson’s Joy At Having Sentence Commuted, Thanks Jesus, Trump, Kim Kardashian

    https://www.weaselzippers.us/387295-shes-out-alice-johnsons-joy-at-having-sentence-commuted-thanks-jesus-trump-kim-kardashian/

    We must again ask the question, how come Obama, the first real black president didn’t commute her sentence while he was in office???? She could have been out 8 or 9 years ago. Wouldn’t she have been the perfect poster child on sentencing reform?? Instead, Obama opted to release violent drug pushers back into black communities to poison them some more. And liberals wonder why Kanye is now woke to support Trump?

    Comment by dscott — June 7, 2018 @ 4:22 pm

  4. Tell us again why we need more illegal aliens???

    McDonald’s Is Planning to Add Self-Serve Kiosks Across the U.S.

    http://fortune.com/2018/06/05/mcdonalds-self-serve-kiosks/

    Which side of their mouths will they be speaking? We need more workers or Automation is taking jobs?

    IF you are thinking about Social Security, be advised that adding more low skilled workers to temporarily boost tax revenues is utterly stupid. Hey morons in liberal land, the people who draw the most and put in the least per capita are the ones at the bottom of the economic ladder at retirement. The long term solution to Social Security finances is giving everyone the same payout ratio for the money they put in.

    Approximating Social Security’s Rate of Return

    https://politicalcalculations.blogspot.com/2011/08/updated-approximating-social-securitys.html#.Wxmb4ugvzrc
    Today, 4.2% of a person’s paycheck goes to Social Security, down from 6.2% in 2010, which is one reason why Social Security is now regularly running in the red. (President Obama is actively seeking to continue that situation.)

    Meanwhile, employers pay an amount equal to 6.2% of the individual’s income into the Social Security program. Since benefits are more-or-less calculated using the same formula regardless of when an individual retires, the older worker, who has paid proportionally less into Social Security, comes out ahead of younger workers!

    The Poorer the Better
    If you play with the income numbers (which realistically fall between $0 and $97,000), you’ll see that the lower income earners come out way ahead of high income earners. Social Security’s benefits are designed to redistribute income in favor of those with low incomes.

    Was Obama successful in keeping down SS contributions from employees to destabilize the system? Fortunately not:

    https://www.ssa.gov/OACT/COLA/cbb.html

    Here is the nub of Social Security’s issues, regardless of the number of workers, the gross wages of all workers has to cover the monthly pay outs. Now, liberal dolts, has the total gross amount of wages decreased, stayed the same or increased since Trump took office??

    Hint for the dolts, individual income tax receipts have gone UP since Trump’s tax cut. What does that tell you? Do your own research and tell us what the gross receipts were under Obumbler vs Trump. IF personal income is up, therefore Social Security receipts are also up.

    Comment by dscott — June 7, 2018 @ 5:09 pm

  5. On the lowered employee SS tax (FICA) down (2%) to 5.65% for 2011 and 2012. Obumbler damaged SS to create yet another “crisis” sooner.

    https://benefitsattorney.com/charts/maximums/?firstyear=2009&lastyear=2018

    Comment by dscott — June 7, 2018 @ 5:21 pm

  6. #3, She was under consideration by Obama, and got nothing, leading one to wonder what kind of people Obama and Holder were really targeting for their pardons and commutations:

    https://www.bbc.com/news/world-us-canada-44390737

    “… under President Barack Obama’s Clemency Initiative in 2014. She easily met all of the criteria, she had a spotless disciplinary record and even her own warden felt that she deserved to go home.”

    “But days before he left office, Mr Obama denied her as well as hundreds of others. She swore to me she would never put her family through this process again – the disappointment was too painful for her two daughters.”

    Comment by Tom — June 8, 2018 @ 9:36 am

  7. #4 and #5, Re the FICA tax cut, there was no additional damage to Social Security, but instead damage to the general treasury, which reimbursed the Social Security “Trust Fund” for the lost payroll tax $$. That 2% cut was supposed to stimulate the economy, but didn’t.

    Comment by Tom — June 8, 2018 @ 9:38 am

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