it looks like romney needs to update his website

[wolferine]

Originally Posted by Len Myers

I must reprimand you for not caring about the whys. bad, Bad BAD!!

Life is short. And what if I read it and disagree with their "logic". It is not like justices or congressman understand insurance or markets. Their ignorance will probably just make me mad. Why bother.

The government should not dictate how markets work this way.

If there is a need to insure 17 million people then pass a tax and cover them.

Is it really necessary to get in the business of messing with the 120 million who already have coverage?

[independent]

Originally Posted by wolferine

Roberts is a fair judge, nothing more, nothing less. I disagree with his logic, because I don't see a tax being valid for NOT doing something. Congress has authority to tax income, or tax gasoline sales I suppose. They can grant tax credits for mortgage I suppose.

Economists would say that granting a tax deduction for a specific action, like paying mortgage interest, amounts to raising the taxes on everyone who doesn't take that action. A tax penalty for not getting a mortgage is the same economically as a deduction for getting the mortgage.

I'm mentioning this because Mankiw posted this on Friday:

Chief Justice Roberts disses economists

From his recent opinion on the health care law, page 24:

To an economist, perhaps, there is no difference between activity and inactivity; both have measurable economic effects on commerce. But the distinction between doing something and doing nothing would not have been lost on the Framers, who were "practical statesmen," not metaphysical philosophers.

I don't think Mankiw appreciated being called a "metaphysical philosopher".

[wolferine]

Originally Posted by independent

Economists would say that granting a tax deduction for a specific action, like paying mortgage interest, amounts to raising the taxes on everyone who doesn't take that action. A tax penalty for not getting a mortgage is the same economically as a deduction for getting the mortgage.

I'm mentioning this because Mankiw posted this on Friday:



I don't think Mankiw appreciated being called a "metaphysical philosopher".

Economists are dumb.

[Len Myers]

Originally Posted by wolferine

Economists are dumb.

Nonsense.

Originally Posted by famous economics joke

An experienced economist and a novice economist are walking down the road. They come across a pile of dog shit lying on the asphalt. The experienced economist says to the novice, "If you eat it I'll give you $20,000!" The novice economist runs his optimization problem and figures out he's better off eating the shit, so he does and collects the money.

Continuing along the same road they almost step into yet another pile of dog shit. The novice economist says to his friend, "Now, if you eat this pile of shit I'll give you $20,000." After evaluating the proposal, the experienced economist eats the dog shit and takes the money.

They continue on. The novice economist starts thinking and finally says to his friend, "Listen, we both have the same amount of money we had before, but we both ate shit. I don't see us being better off."

The experienced economist answers, "Well, that's true, but you overlooked the fact that we've just been involved in $40,000 of trade."

[econmajor]

Originally Posted by wolferine

Now as for Kagan or Sotomayor or Ginseng, they are nothing more than liberal partisan hacks with no brain and a rubber stamp for any leftist agenda.

Who's Ginseng?
I googled but all I could find was some plant.

[wolferine]

Originally Posted by econmajor

Who's Ginseng?
I googled but all I could find was some plant.

Root Baiter Ginseng, your google must be infected with a virus.