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Ron Paul Wants To End the Federal Student Loan Program

ect5150 Re:"Free" money (1797 comments)

And more to the point, you can go to college for free - at least the first two years. Most community colleges are priced right around the same amount as the federal education tax credit.

Community Colleges are highly subsidized. You view the price to be "right" because you don't see what it costs you in taxes.

more than 2 years ago
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Ron Paul Wants To End the Federal Student Loan Program

ect5150 Re:Subsidies inflate pricing. (1797 comments)

So, without federal aid of this sort, higher education wouldn't exist at all then?

more than 2 years ago
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The End of Cheap Labor In China

ect5150 Currency Issues? (422 comments)

Let's see China pull this off without constantly manipulating their currency to boost the manufacturing while keeping pollution half of what it is currently over those same 10 years. It's okay, because when inflation hits, the sh*t will hit the fan in China (look up the economic trilemma and see where China's weakness is... for the USA, we choose not to peg our currency to fix our trade gap).

more than 3 years ago
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Jeff Bezos Calls Sales Tax Requirements On Amazon Unconstitutional

ect5150 Re:Why not just raise taxes on the rich? (623 comments)

Here is the actual data (just a few years old though)
http://www.cbo.gov/publications/collections/tax/2010/AvgFedTaxRates_Summary.xlsx

If you make only 30K (in pre-tax income) a year, that places you roughly in between the bottom two income quintiles.

You can clearly look that the bottom 40 percent pay no income tax as the numbers for the bottom two quintiles are negative for their share of tax liabilities. This means your refund at the end of the tax year more than offsets the federal income taxes you had to pay over the year. That said, you are correct about having to pay other taxes, but in terms of the federal dollars (since that's the focus, and some states have no income taxes and others have low sales taxes), there is no national sales tax - just excise taxes and safety net taxes.

Based on the numbers you cite above and the data provided by the CBO, your numbers don't match up. Your 2K seems to be in the Social Insurance & Excise taxes part, not Income tax. And in the offshoot chance that I'm wrong, I'd recommend getting a new tax accountant.

more than 3 years ago
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Why People Watch StarCraft, Instead of Playing

ect5150 Re:Really? (122 comments)

I like watching some Street Fighter 4 (or SF3) matches. Some of the things these guys pull off are amazing.

And there is always the famous Daigo vs Justin Wong match.
http://www.youtube.com/watch?v=XeM0rH_4ung

more than 3 years ago
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Netflix CEO Hesitant To Fight Cable

ect5150 Re:Comcast isn't a monopoly everywhere (366 comments)

You can vote in an election once every 4 years. You can vote with your dollars every day.

To vote with your dollars, you have to have a sufficient amount of dollars. What's worse is that people with more dollars have a more significant vote - it's oligarchy, not democracy.

This further proves AC's point... the only way have extra dollars can affect anyone other than yourself is if it is used to twist the system (i.e. - buying advertising to get your candidate voted in), and you are back to the original point that government and corp. are in collusion.

If I buy a new pair of gold plated shoes at $15,000 ... this doesn't impact you in any fashion. Let's say I make 4 times the average salary compared to any random slashdoter... how would my purchasing patterns have affects you at all today? How would you even know what the typical slashdoter did today other than browse the website?

more than 3 years ago
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Netflix CEO Hesitant To Fight Cable

ect5150 Re:Comcast isn't a monopoly everywhere (366 comments)

His analogy doesn't break done when you look at some of the services government often provides. Take Amtrak, the government owned railroad... last time I looked it up, they have only had one profitable year. If they cannot provide a service at a price people are willing pay, how do you suppose they make up the difference? If Comcast cannot do the same thing, how do they make up the difference?

Answer? Comcast closes it's doors (bail-out jokes for the banks and auto-industry aside)... the government does not. It is an effective waste of resources. That's not to say there is no use for government. It should uphold laws when individuals or companies try to steal, etc...

more than 3 years ago
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Google's South Korean Offices Raided

ect5150 Re:Tone down the paranoia (99 comments)

What do you mean you "can't switch away" ? You can always go _without_ !!

more than 3 years ago
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Sony: 10 Million Credit Cards May Have Been Exposed

ect5150 Re:Say it aint so! (251 comments)

A month of PSN Plus? All they have to do is take the deals of the month away to make that deal worthless.

It's a good thing I already changed my credit card number and all of my passwords, just in case.

By the way, I just happened to use the same login and password on the PSN as I did for my GMail account. Gmail informed me the other day that someone had accessed the account from an IP in China. That when I started changing EVERYTHING and started watching my accounts like a hawk.

more than 3 years ago
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Computer Science Enrollment Up 10% Last Fall

ect5150 And the reason is ... ? (173 comments)

Enrollments are up because unemployment is up. Pure and simple. People lose a job, they go back and get retrained. Enrollment is up across the board - not just in Comp Sci.

more than 3 years ago
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Obama's Goal: 98% of US Covered By 4G

ect5150 Re:Simple answer (324 comments)

The point being made is an economic one. It will wind up being a "bridge to nowhere" argument - that is to say it is a waste of resources that could have been put to better use elsewhere. This doesn't really fall into the category of items that a free market system cannot provide efficiently.

more than 3 years ago
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Official — Economic Crash Not Computers' Fault

ect5150 Re:Nationalize the Banks (386 comments)

The problem here is how do you know who can manage it better? If banks mismanage money, they go broke (as many have). When the government goes broke, they just raise taxes (or inflate the debt away). They are not forced to shut down as a bank would be.

They should have just let those banks in question go into bankruptcy and put the bail out money into someone else's hands.

more than 3 years ago
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Michigan Governor Wants 'Open Source' Economic Model

ect5150 Re:Already has 300+ years of development (237 comments)

'Market' connotes an establishment of certain expectations, such as equitable trading, enforced obligations, peace, security, and probably a negotiable instrument as a means of exchange. 'Market' doesn't exist without agreed upon regulation and an external entity to enforce said regulation.

Nonsense! Trading doesn't have to be equitable for it to take place. Black marketplaces exist everywhere outside of any established regulation, but yet we still have a market place if exchange takes place. It's nice if obligations are enforced, but not necessary. All the homes in foreclosure show that aspect of it, yet it is still possible to get a house.

All of those items are desirable, but by no means are they necessary by any definition of a market. A market is simply when you have two entities trading.

more than 2 years ago
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Michigan Governor Wants 'Open Source' Economic Model

ect5150 Re:Already has 300+ years of development (237 comments)

Sorry, it's statements like this that show you don't understand what a "free market" actually is. It's like some one complaining that the USA is supposed to be a "free country" but they still have to pay bills.

more than 2 years ago
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Humans Will Need Two Earths By 2030

ect5150 Re:Bull (738 comments)

Amen... same thing about other resources. You can find clips of former President Carter claiming oil and natural gas would be gone "in the next decade" while giving speeches in the White House.

more than 3 years ago
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Proving 0.999... Is Equal To 1

ect5150 Re:This is second place (1260 comments)

I've never heard of this problem and looked up the solution. It blew my mind! It IS better to switch your choice! I feel enlightened today. Thank you, everyone!

more than 3 years ago
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Copying Trumps Creating For FarmVille Creator Zynga

ect5150 Re:good (319 comments)

It does lead to an interesting debate regarding what we (the net) consider to be right and acceptable.

Here we have a story of someone seeing someone else doing something and basically saying, "I can do that." Do we get upset when a new pizza restaurant opens up? Or perhaps another excavation company? What makes this worse than some company saying "Hey, I can do that cheaper."

I realize there are issues with respect to intellectual property, but this IS an important point of discussion. When is the line crossed?

I don't see people complaining when the "I can do that cheaper" turns into lower prices for those pizzas, or cars, or processors, or RAM, etc... I thought people liked having AMD to keep Intel's prices in check.

about 4 years ago
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Scientists Cut Greenland Ice Loss Estimate By Half

ect5150 Re:Why I no longer believe in global warming (414 comments)

Not to speak for the OP, but I think he means Socialism in general is a bigger threat to most individuals than global warming.

That said, I actually went out and looked up the temperature data for the past century not too long ago. There is certainly a general increase in global temperatures, but it was only roughly 1 degrees worth over 100 years. Now, I'm not so much of an expert to claim if that is enough to change everyone's life-style or not, but the general trend is there. Now, is it the fault of human beings? I would have thought there would have been a larger correlation with the population or seeing where the increases started with modern levels of pollution, but those didn't line up. So, I'm not entirely certain (yet - I'll hold judgment until I look at it more) than it was us that caused all of it.

about 4 years ago

Submissions

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Yes, I'm an Economist

ect5150 ect5150 writes  |  more than 8 years ago Yes, I'm an economist... and pround of it. So, forgive me if I'm correcting many of the mistakes here on slashdot that relate to this. They are typical mistakes that are made from those who do not study econ as much as others. But, if the IT crowd wishes their bosses would learn a little more about IT, then the same might be said of the IT crowd to learn a little bit more of... something else (I won't lump econ in with business, econ is well above the those and belongs in the social science disciplines). ect5150

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