In the New York Times, economist Gregory Mankiw writes that if the Bush tax cuts on upper income taxpayers are not extended, he probably will not work so much. That’s because for every $1,000 of “extra” income he earns, he would only bank $523. And compounded over 30 years, that $523 would barely buy his children a hamburger, given the projected value of 2040 dollars.
OK, I made up the part about the hamburger, but not the rest of it. And that $523 is hardly worth the effort. He has everything he really needs, mind you, but he just wants us all to know that if he doesn’t write as many articles or textbooks we’d be deprived of the enjoyment of his economic wisdom.
Well, y’know, as much as that would stress me out, on the list of sacrifices I’m willing to make for the greater good, not reading Mankiw is right up there with giving up Bridezillas. Maybe even haggis. Life is hard. Kevin Drum thinks so, too.
In other news, Carl “Mr. Furious” Paladino made anti-gay remarks in Brooklyn today. Deep down, Carl enjoys being a slumlord way too much to be happy as governor.
The DNC is making a major ad buy accusing the U.S. Chamber of Commerce of stealing the election with foreign money. Sic ’em.
Finally — I believe Miss Lucy may be in her final hours now. I need to spend some time with her, and I also am behind other work I should be doing, so if I’m a bit scarce in the next couple of days that’s why. I hope y’all can find stuff to talk about.