Tony K's Blog

I voted for Obama's re-election. He is not an evil Kenyan, Muslim, socialist. He is not a crazy spendthrift. Nor do I think he is the second coming. I believe he had some solid, very strategic victories in his first term that are and will be good for the country. Really if you look at what Obama actually did, he is pretty much in the same camp as some of those crazy herd-line right wingers like Goldwater, Nixon, Romney, and Reagan. I want to lay out my logic and reasoning for myself on why I think this was the right thing. It will be fun to look back 4 or 10 years from now at this. I also want to thank those whose views are different tlhan mine who have respectfully engaged around issues using facts and logic. The issues we face are not simple and are not solvable by sound bites and cynicism. There is tremendous depth of knowledge, thought, and understanding required. Romney I believe that if you separated Mitt Romney from the party system, he would be s...

Increase Taxes On The Rich - What that means There is a tremendous amount of innumeracy in this country. I don't know why that is. One thing I keep seeing is talk of tax hikes on those making more that $250k. I want to describe what that means. First, technically, it is an increase of tax rate on incremental (marginal) income above $250k. It's not simply raising the rates on everyone making more than $250k. It may have that effect, but the distinction is important. What is the distinction? Consider a person who makes $1.01 less than $250k. He or she will pay let's say $50k in income tax. If he makes $1 more, he will pay about $0.30 more taxes at a 30% income tax rate. Now let's say that the tax laws change so that income above $250k is taxed at 40% (up from 30%). It does not mean that suddenly his entire income is multiplied by 40%, it means that only the amount above $250k will be multiplied by 40%. So let's say our $249,999 earner gets a raise to $...