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.
Mankiw’s best argument is really an argument for letting the tax cuts expire.
Best wishes regarding Miss Lucy.
My best to you and Miss Lucy. Biding goodby to a loved one–whether two-legged or four-legged is painfully hard.
Now you might not care if I supply less of my services to the marketplace — although, because you are reading this article, you are one of my customers.
Yeah, and you Mahablog readers who have been reading my brilliant comments over the years owe me a lot of money. I think I’ll send Mankiw a bill for a therapy session because as I see it..He’s my customer..What, am I supposed to spend valuable time reading his tales of woe while I incur real expenses in the cost of internet services?
I see Mankiw didn’t use Sarah Palin’s $100,000. dollar speaking fee as an example of working less to avoid taxes. I mean, one hundred thousand for saying nothing when you’ve got nothing to say..Money doesn’t come easier than that!
May Miss Lucy’s passing be easy for her and you.
Well said, Canadian reader……
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Ditto.
We’ll miss you, maha. But, take all of the time you need.
Maybe in your absence, we can all post the latest attrocities that concern us here on this post, just to keep in touch.
Peace & Love…
Here’s an atrocity for you:
http://www.nytimes.com/2010/10/10/fashion/10coulter.html?_r=1&scp=2&sq=ann%20coulter&st=cse
I almost threw up in my mouth yesterday when I was checking to make sure all of the sections were there in the Sunday NY Times I was about to buy (the one time you don’t check, one of your favorites will ALWAYS be missing) and saw a huge spread on Ann Coulter in the cover of the Sunday Styles section. It’s about how she’s reaching out to include consevative gays into her con job. “Everyone loves gay’s,” she says. Uhm, Ann, what planet did you just visit and beam back down from?
It’s an interesting article, but I wish the writer had spent some time interviewing members of what has to be the group with the most self-hate – gay conservatives. But, lke everything else about Ann, it had to be about Ann. What a horrible example of a human being…
I am so sorry about Miss Lucy.
We just lost our cat of 18 years 3 weeks ago. Spend time with her! We can awit.
Cundgulag:
That pic of Coulter must have been airbrushed, no adams apple!
Take care of yourself; may Miss Lucy have a gentle time of it. Hugs.
My deepest sympathies for Miss Lucy; it’s always hard.
uncledad,
Yeah, I noticed something was different. Airbrushed, or an adams apple-ectomy?
Hug Miss Lucy extra hard, Maha, and remember all the good times
I am sorry to hear about Miss Lucy, it is very hard to lose a loved one. Please take all the time you and Miss Lucy need.
Reminds me of the scene in the Movie M*A*S*H where Sally Kellerman intrudes on the Colonel (after the shower tent removal scene) and threatens to resign her commission, to which he replies “Then resign your damned commission.” and she whines “MY COMMISSION!!!!”
It may be that Miss Lucy is preceeding you to the life that follows and death is only a separation, rather than a parting. Kindred spirits will meet again – I see no reason (besides vanity) to think the souls of pets are lesser than those of people. The capacity for love in many pets exceeds that of people, excepting a few enlightened human souls. A blessing it is for you both that your paths intersected – a greater blessing it will be if & when they cross again.
Thumper, Trixie, Tippy, Carlyle, Mischa, are all now happy memories of beautiful lives. They left space in our hearts for Flopsy, Sophie, Irene Adler (yes, she has a last name) and Nutmeg.
Shelter visits and donations in Miss Lucy’s name will never be regretted. Remember, four cats is not hoarding. At least, that’s what we keep telling ourselves.
Mankiw knows there is no evidence that people actually work less or less hard due to higher marginal tax rates, so he has to manufacture evidence using himself as the example, conveniently qualifying his declaration with the word “probably.” And exactly how does one measure whether Mankiw is working more or less from one year to the next? Give us your annual widget count, Greg.
If the taxes bother Mankiw so much, I’d suggest that he give up writing permanently. If he makes zero dollars from writing, he’ll pay zero taxes — and isn’t that what he wants? No taxes?