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Oh, you're right. I guess I just concentrated on the general thrust of the article instead of the bits about race and the pictures. Plus, I used to live in the ghetto when we first moved to this country and were IMPOVERISHED, so I guess I know that not all poor people are black. And not all...

Uh....there is no mystery or complexity to poverty. Poverty is the natural state of man. If you did absolutely nothing all day every day you will be impoverished. What is complex is creating wealth - finding the thing that pleases your fellow man so much that he is willing to part with...

The poor pay more for milk? There's a reason for that. They trash their neighbourhoods and rob stores in the ghetto. So, guess what? There are fewer stores and they have to charge more. That article is so stupid. If the poor got off their ass and actually produced something, they...

Government institutions, including the SEC working with exchanges and speicalists & MMs (which is pretty much the exchanges) to "protect" retail traders. They mostly protect them from having better information and lower transactions costs. But the retail guys keep screaming for that...

Just think of how many politicians they can buy with all that loot. As long as they're yammering about spending their own money, more power to them.

Landis is an ex-broker. He doesn't know about trading, but like all brokers, would like to pretend he does and probably told chicks he was a trader to get in their pants. He promised to put me on ignore after PMing me to death, so let's see if he keeps his promise.

More important than that, comrades, for government to permanently expand its power into every banal decision of our tiny lives to "protect" you from the obviously inferior decisions you will make. Best to let really smart people like Dim Geithner and Bearnanke make them for you. Get in line...

I agree with your comment, but the banks won't necessarily win. Demand for most things is pretty elastic. Thus, we can expect a drop in the amount demanded with an increase in price. This dumb congressional whim will merely raise the cost of credit across the board and drive demand to...

Absolutely. That's a great point. You'll actually give more to charity that way. I V Trader, Buffet is irritating because he spent the vast majority of his life employing an army of tax people to reduce his tax liability. Now, he's suddenly found religion. Of course, he has the option...

to you too, Piezoe.

If you live in NYC, you're already paying a 50% tax rate between state, local and federal. All those taxes are scheduled to go up, so they will be paying a rate closer to 60% soon. So, you work most of the year to pay the Mafia running this country for their own benefit not to toss you in jail...

forgot to add that while reducing tax rates may not increase prosperity in a state, raising them has always decreased it. Take a look at what happened in Connecticut since it implemented a state tax in the early 90's. Disaster.

' I agree that this is not a single-variable problem and tax rates alone do not dictate the level of prosperity. Reducing the number of welfare roles (gradually) would increase prosperity because formally unproductive people would become productive and the number of dependents will be...

1.) that's true for the dregs of the company, not true for producers. They have plenty of places to go (including starting their own shops) and going they have been. 2.) I'm assuming you're being sarcastic and I agree with you. However, Ben & Co. have been giving money away to re-inflate...

when I'm in my sixties, I might donate my whole fortune to a charity instead of paying a steep death tax to the worthless politicians who will squander it on monuments to their bloated egos. But, notice the guy didn't give it away when he was young. Same with Buffet.

How do higher tax rates lead to greater prosperity? Higher tax rates on the productive for the purpose of redistributing to the unproductive does not lead to prosperity of the unproductive. It merely leads to more dependents and fewer people motivated to work. The reason those states have...

Couldn't agree more. He wants Americans to pay tribute to the state by producing without incentives to produce. This is not at all different from the Soviets' playbook. I think that he'll be shocked to find that people don't like paying tribute to the state and would rather do absolutely...

Right. Because it wasn't government's shakedown that caused the sh*tting in the first place. But if you make a mistake and ...say...take out a loan you can't repay, then I totally have an excuse to come and shake you down. Like a loan shark. Right, Sparky? Don't be so quick to stomp on...

Well said. Only one quip. People want a strong man who can snap his fingers and get things done until they find themselves the ones who are "done" at the snap of his fingers. By then, it's too late.

Good point misthos. However, we can always look at earnings (for which GDP is merely a proxy) more closely. We can look at earnings by quintile and or within a certain region. In doing that, we have to be careful to remember that the United States is the only country that doesn't account for...