On Mon, 30 Apr 2012 08:46:03 -0700, "mo_ntresor"
<
amontillad...@gmail.com> wrote:
>On Apr 28 2012 5:38 PM, David Monaghan wrote:
>
>> >not it doesn't apply to all taxation. it applies to wealth and income
>> >taxation. use taxes don't distort wealth distribution; they increase
>> >costs and incentives for alternatives.
>>
>> It distorts the market prices, and from that the profits traders can make,
>> and from that the wealth of those who income depends on those profits. The
>> effect isn't so direct, but it still occurs.
>
>there's no reason to believe consumption taxes would create either price
>distortions or intra-market arbitrages.
It's difficult to see how it wouldn't have an effect. It depends on how it's
implemented, of course, but at the very least smuggling and black market
activity would increase. A flat tax on all sales would disproportionately
affect the less well off, who spend a much higher percentage of their income
on food, reducing their discretionary spending. It's doubtful the better off
would increase their discretionary spending to exactly match that drop in
all goods, so there's another effect. And all non-flat rate sales taxes
would have an obvious distorting effect on the relative cost of goods and
therefore sales.
>> >if you want to pretend there's no evidence,
>> Whoa there! I invited you to state your evidence and you didn't. If you have
>> evidence, we don't need to deal in opinions.
>i have plenty of evidence. there's endless anecdotal evidence. your mind
>won't be swayed, so why bother?
I know you wouldn't lie to me, so I'm happy to accept you have the evidence.
The problem is, if you don't produce it, it doesn't count. There are some
who would say anecdotal evidence isn't worth a jot, either, but if you have
an endless amount even sub-jots of value add up. Is that the real problem?
You have so much evidence you'd be in danger of bringing down the internet
by flooding the bandwidth if you produced it?
>> >I'm happy to argue in the
>> >theoretical. anyone but an idiot will seek to protect wealth from
>> >inflation and confiscation. the means for doing so consist of investing
>> >in various assets (tangibles: land, metal, etc; paper: cds, stocks,
>> >bonds, etc.). name one investment strategy that doesn't result in job
>> >creation.
>>
>> How many jobs are created by buying Old Masters or land. How many jobs are
>> created by Ponzi schemes? How many jobs are created by buying Government
>> bonds - especially foreign government stock?
>
>you don't think demand for paintings or land creates jobs? how about
>aspiring hirsts trying to relieve the morons of some of those dollars?
>how about brokerages and new online businesses for price discover on
>illiquid assets? how about income on the land with general or ag
>improvements? how about scientific yield work to improve returns? i
>can't counter every madoff, but arguing specifics is nonsense.
The trouble is, with the exception of some scientific projects, none of that
could be remotely described as innovative. Any old Tom, Dick, or Harry could
put their money into those things by shared investment funds - and in terms
of artists, it's the small buyers buying from unknown artists that bring on
the new talent. Someone spending a lot of money on a famous artist is simply
transferring money between two rich people.
>how does handing the average poor guy another forty and a snickers help
>anybody?
>
>> >i have no idea what you're talking about in the last sentence. gamble on
>> >a whim? plenty of wealthy people seed ventures, themselves or through vc
>> >firms. try building a company without investment or capital and let me
>> >know how it goes.
>>
>> "Plenty" of people. So not all. And plenty of less wealthy people own share,
>> directly or indirectly, or have money in the bank which is loaned to those
>> same ventures. You're confusing the effect of money per se with the effect
>> of concentrating it in the hands of individual.
>
>of course, not "all". don't be ridiculous.
>
>are you american?
No.
DaveM