'The Sky is Falling' Narrative

[Randolph Kinney]

The income tax is the Swiss Army Knife of the U.S. tax system: an all-purpose tool for raising revenue, rewarding and punishing activities and redistributing money between rich and poor. The system could change fundamentally if Democrats win the White House and Congress, Richard Rubin writes. The party’s presidential candidates, legislators and advisers believe today’s income tax is inadequate for an economy where a growing share of rewards flows to a sliver of households. The personal income tax indirectly touches wealth, but only when assets are sold and become income. U.S. households had $3.8 trillion in unrealized gains in stocks and investment funds at the end of 2017, plus more in real estate, private businesses and artwork. Most of the value of estates over $100 million consists of unrealized gains. Democrats are eager to tap that mountain of wealth to finance priorities such as expanding health-insurance, combating climate change and aiding low-income households. Their ideas range from new rules on inherited assets, to annual taxes on unrealized gains, to a proposal from Sen. Elizabeth Warren to tax wealth itself.

Change is coming, like it or not.

 

[CANative]

If you keep all the gas in the gas tank, car no go.

 

[The Bob]

If you take all of the gas out of the tank, car no go.

 

[Randolph Kinney]

If you take half the gas out of the car, you can go half as far than on a full tank. But once you reach empty, car sits there until you put more gas in it.

 

[CANative]

Talk of "America going broke..." is TEA party-style hyperbole.

 

[Gobears81]

To continue this analogy, both parties are taking a shotgun to future gas tanks

 

[Randolph Kinney]

So ... the gas is really 100% ethanol which won't give you the same gas mileage as 100% gasoline.

 

[Randolph Kinney]

Actually, no matter what fuel you use for the car, the price of it will go up. Governments have to raise revenue, you know, for roads.

 

[Pittsburgh Pete]

Cost-benefit?

Ethanol helps keep engines clean, too. It burns more completely and at a slightly cooler temperature than gasoline. This means longer spark plug life and fewer combustion deposits. Ethanol burns well because it is an oxygenate, meaning that ethanol molecules contain oxygen.

with that said..........................

The best ethanol can produce as much as 90 percent fewer lifecycle emissions compared to gasoline, but the worst ethanol can produce significantly more lifecycle emissions than gasoline. Making good choices about how ethanol is made and what it is made from is essential for ethanol to realize its potential.

 

[Pittsburgh Pete]

Interesting how cost trumps all with some folks -- environment be d@mned.