Thursday, March 10, 2011

Rand Paul on Letterman, part.3

(R/Ky) Senator Rand Paul's intellect is as marginal as these differences on who pays the income tax in the chart above. Again, we have a slightly progressive or redistributive system but nothing like Senator Paul's statement on Letterman:  “If you look at the taxes, if you look at the income tax, the top one percent pay about a third of the income tax. The top 50 percent -- those who make $70,000 and above -- pay 96 percent of the income tax, so the middle class and above are paying all of the income tax.” Again, according to Tea Party folks, Senator Paul was giving Dave an economics lesson. He must be related the the gym coach that taught me economics in 9th grade. (Economics and Government seemed to be the bailiwick of gym teachers who apparently were force by some rule to teach some class other than gym. And today we have a nation of gym coach economists and voters.)

Senator Rand Paul is certainly his own man in his nitwittery. In the article below he shows that he has no clue about the fragile recovery wanting to nip it in the bud. We know the cuts of the Republicans would cost 700,000 jobs, we know that we are barely recovering now, and we know that all economic thought on the issue of depressions has the expansion of the monetary supply as the only remedy beyond soup lines.

Notice also the skewed bell curve in the above chart. At the highest level, we are measuring the top 1% of the people. Notice how large the percentage of total income that falls into this small 1% elite group. The next largest group represents the middle of the bell curve and is comprised of 20% of the people. My main practical experience with bell curves (other than learning about them academically) was when teachers graded on a curve. If grades were handed out on this bell curve, professors would probably be fired for grade inflation.

Ringing in my ears is the argument that people earn their money in a fair capitalistic system and there should be a flat tax. I would like to give my first use in this blog of an obscenity in response to this, but I'll refrain. Money makes money, money buys influence that makes more money, money controls the political process, money buys education, money buys healthy food for kids and the education to feed it to them, money buys power clothes, money buys power lunches, and money makes the world go round the world go round the world go round. Fair enough? Besides, how could you doubt Liza Minnelli?