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Taxes and fiscal cliff

Races for the Senate, U.S. House, etc. and other issues of national importance.

Re: Taxes and fiscal cliff

Postby kurt_w » Fri Jan 04, 2013 1:54 pm

Okay, some of what you say is wrong or incoherent (where did that reference to bell curves come from? and your paragraph about the 90th percentile doesn't seem to respond in any coherent way to what I said), but I do agree with this:

A factor of ten at $10K of income is wildly significant.
A factor of ten at $10M of income probably makes zero difference in behavior.

I probably shouldn't have said that comparing $100,000 to $1 million is equivalent to comparing $10,000 to $100,000. Yes, they're both an order of magnitude, but you're right that each subsequent factor of 10 jump in income probably matters less.

However, I still think you're nuts for suggesting that households with $100,000 incomes and those with $1 million incomes are comparable in any meaningful way.

And I still think you're channeling Mitt Romney.
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