Taxes: Taking and Receiving

“Women’s Soccer Team Sues To Overturn Unjust Law Of Supply And Demand”--Babylon Bee


Picked up Ned last night. Looks great.
Brian is still thrilled over the rollout of his company in Wichita.
Went to dinner at Alphabet City with the McGraws and saw Mary Norris, the New Yorker copy editor, speak. A fun time although Ms. Norris was a walking run-on sentence and seemed to think everyone in the room was fascinated with her sex life. We hung around in the book store after as we waited for Ned to get in. The place is a very comfortable space.
I am very disappointed in the online writing class.
 

Nominations for the 71st annual Emmy Awards were announced Tuesday morning , and “Game of Thrones” and “The Marvelous Mrs. Maisel” dominated nods for TV’s top honors.

The  final season of HBO’s epic fantasy season picked up a leading 32 nominations

The Blackstone Group on Monday announced that it will acquire mobile video ad company Vungle, and settle a wrongful termination lawsuit with company founder Zain Jaffer.
Jaffer was fired as Vungle's CEO in late 2017, after being arrested on a variety of charges that included sexual assault of his own child. He later was completely exonerated, with a judge dismissing all charges at the district attorney's request. Terms of the settlement were not disclosed, although Axios wrote that Jaffer will have all of his shares purchased by Blackstone and will not return to the company.

Michael Bennet, the Colorado Democrat, says that during 40% of his 10 Senate years the government has been run on "continuing resolutions." Congress passes these in order to spare itself the torture of performing its primary function, which is to set national priorities. --Will
 

The pace of new patenting for several categories of climate-friendly technologies has seen a "notable drop-off" since 2012, according to a July 11 analysis from the IEA and OECD. While far wider deployment of existing tech can do a great deal to stem carbon emissions, the steep cuts needed to meet the Paris Agreement temperature goals will likely require substantial innovation.  According to IEA, "The precipitous decline in patented innovation since 2011–2012 is a stark warning since there can be a long lag between innovation and cost reductions."

The following is "The Kuznets Curve" that shows the relationship between high economic development and low environment degradation. Needless to say, this is not popular. 



On this day in 1996, shortly after takeoff from New York’s Kennedy International Airport, a TWA Boeing 747 jetliner bound for Paris exploded over the Atlantic Ocean, killing all 230 people aboard. When it was revealed that several U.S. Navy vessels were training in the Long Island area on the night of the blast, some began to suspect that Flight 800 had been accidentally downed by a navy test missile. U.S. authorities ruled out the possibility of an errant missile strike by the navy, but a number of conspiracists, including former White House press secretary Pierre Salinger, supported the theory. The much-criticized Flight 800 investigation ended in late 1998, with investigators concluding that the explosion resulted from mechanical failure, not from a bomb or a missile.

                       Taxes: Taking and Receiving

Here is a major implication of the recent CBO report: Almost the entire burden of all transfer payments made to American households and of all non-financed government spending, falls on just one group of Americans, the top one-fifth of US households by income. The CBO study shows that the bottom three income quintiles representing 60% of US households are “net recipients” (they receive more in transfer payments than they pay in federal taxes), the second-highest income quintile pays just slightly more in federal taxes ($14,800) than it receives in government transfer payments ($14,100), while the top 20% of American “net payer” households finance 100% of the transfer payments to the bottom 60%, as well as almost 100% of the tax revenue collected to run the federal government.
The top twenty percent of income payers pay for almost all the federal government. 

You didn't build that, I did.

Here are the details of that analysis.