In response to:

Brain-lock Inside The Beltway

SD3 Wrote: Dec 01, 2012 6:26 PM
Jonah -- You're not right when you say, "Whether the numbers moved this way or that because of closed loopholes or rejiggered tax rates, the result for me is the same. " The distinction is what the tax rate is ON THE MARGIN. If I lower tax rates, say, from 30% t0 25%, but collect the same amount of tax, the result is NOT the same because on my next dollar of income I will pay 25% rather than 30%. Behavior is determined on the margin, not the average.

It's at times like this I'm ashamed to admit I live inside the Beltway.

Well, that's probably not specific enough since I'm usually ashamed to admit I live inside the Beltway.

Still, the second you try to explain the stupidity of this "fiscal cliff" fiasco to a normal person, it makes William F. Buckley's famous declaration that he'd rather be governed by the first few hundred people listed in the Boston phone book than by the faculty of Harvard seem all the more reasonable.

While there are some responsible politicians and policymakers in Washington, if you look at the whole place...