Wednesday, August 10, 2011

Wednesday Links

1. Infographic: App Store Growth Compared to McDonald's Burgers.

2. 534 lobsters released in Buddhist ceremony are retaken by lobstermen.

3. What's Happening to Men? Boys today are growing up in a culture that, unlike any before in civilization, is agnostic about their future familial responsibilities. 

4. Lessons from the 1990s: Obama has called for taxing corporate jet owners to help offset government spending and balance the federal budget. It is just the latest example of the president’s economic illiteracy.

5. Missing jobs and how we can find them.  

27 Comments:

At 8/10/2011 10:30 AM, Blogger Buddy R Pacifico said...

The article, What's Happening to Men? is very interesting. It expands on Dr. Perry's Mancession writings. A compelling article cited states that yes, marriage disciplines men in many ways, based on a U of Mich study of twins.

 
At 8/10/2011 11:51 AM, Blogger Ten Mile Island said...

Some things are easy to predict.

http://tpsaye.wordpress.com/2011/08/04/hey/

 
At 8/10/2011 1:18 PM, Blogger Rufus II said...

Dang, them Corporate Profits are really up this year, eh?

Maybe, someone should tell the guvmint, since Corps paid a whopping $6,239 Million in Income Tax in July.

Year to Year? Basically flat.

Corp Income Taxes account for about 7% of tax collections YTD

 
At 8/10/2011 1:36 PM, Blogger juandos said...

re: 'Missing jobs and how we can find them'...

Hmmm, why did Aparna Mathur doesn't measure the cost of excessive regulations against companies/employers in his rant about looking for jobs?

 
At 8/10/2011 1:40 PM, Blogger morganovich said...

rufus-

this has been explained to you repeatedly:

the gains in corp profits are all from financial firms.

they use mark to market accounting.

gains do not indicate taxable activity.

those gains only come when assets are sold.

ex financials, corp profits are down.

finincials are over 1/3 of all us profits.

if you buy apple and make 20%, that's a profit to you, but not taxable.

you'd expect flat to down taxes in such a situation.

 
At 8/10/2011 1:52 PM, Blogger Rufus II said...

Horsehockey. It just means that more and more corporations are learning how to do what GE, Google, Apple, Caterpillar, and all the other biggies already know. ie - how to transfer your profits to an overseas tax haven, and shield them from U.S. taxes.

It also means great new factories for China, and squat for the U.S.

 
At 8/10/2011 1:58 PM, Blogger Rufus II said...

They're just sitting over there waiting for the "Jubilee."

Waiting for the "Ollie, Ollie, Home Free."

This is the kind of scam that makes my blood boil.

 
At 8/10/2011 2:11 PM, Blogger Che is dead said...

"It also means great new factories for China, and squat for the U.S. ... This is the kind of scam that makes my blood boil." -- Dufus II

Perhaps those "great new factories" would be built here if we eliminated the corporate income tax altogether. Of course, that would mean that parasites, like you, would have to earn your own money instead of claiming an entitlement to someone else's. Parasitic socialism - the kind of scam that makes my blood boil.

 
At 8/10/2011 2:19 PM, Blogger morganovich said...

rufus-

as ever, you seem to be ignoring all the data.

Profits from current production (corporate profits with inventory valuation and capital
consumption adjustments) increased $48.7 billion in the first quarter, compared with an increase of
$38.2 billion in the fourth quarter. Current-production cash flow (net cash flow with inventory valuation
adjustment) -- the internal funds available to corporations for investment -- increased $16.7 billion in the
first quarter, compared with an increase of $36.9 billion in the fourth.

"Taxes on corporate income increased $33.2 billion in the first quarter. Profits after tax with inventory valuation and capital consumption adjustments
increased $15.5 billion in the first quarter"

straight from the BEA.

so profits went up 48.7 pretax and 15.5 after tax.

33.2 was paid as tax, an incremental rate of 68% on new income.

you think that's low?

you are literally just making stuff up.

and here's the story on non financials:

http://voices.washingtonpost.com/ezra-klein/2010/11/the_real_story_on_corporate_pr.html

the real reason bank profit are good is that they are getting free money from the fed to invest in levered treasuries. that's how the government is keeping the borrowing spigot open and rates low. it's a deliberate policy.

i know you are dying to tax everyhting any anything corporate all over the world, but your plan will just drive companies to incorporate overseas as well as manufacture there.

you cannot bring prosperity and job creation to the US by increasing taxes.

 
At 8/10/2011 2:29 PM, Blogger Buddy R Pacifico said...

Rufus, this study shows what happens when U.S. companies get a tax holiday:

Substantial U.S. Capital Investment.

Hiring and training of U.S. based employees.

Increased U.S. based Research and Development.

Why should U.S. corps return earnings home to be taxed at the highest rates in the world?

 
At 8/10/2011 2:31 PM, Blogger Rufus II said...

No, you don't get it, Morgan. I'm a Proponent of lower Corporate Tax Rates. 20% - 15% - even 10% I don't care. I'm just Not a Proponent of 0.0%

It's insane. You can't run a country that way.

How am I making anything up? I gave a link to the July Treasury Statement. The Number is there. For All to see.

 
At 8/10/2011 2:41 PM, Blogger morganovich said...

rufus-

you are making up your assessment of corporate profits and ignoring the fact that many of the "profits" are not taxable.

look at the data i gave you.

additional taxes paid/additional income earned in q1 was 68%.

so where are you getting this absurd idea that taxes are not being paid?

after tax corporate profits are barely growing at all.

take the financials out, and they are falling.

 
At 8/10/2011 2:42 PM, Blogger Rufus II said...

And, Che, you are way off base with the "parasite" stuff. I'm a retired insurance peddler that's been living off of Renewal Income (My contract was "lifetime" vesting) for many years.

 
At 8/10/2011 2:44 PM, Blogger Rufus II said...

Well, Morgan, how is it those $Trillions in offshore holdings keep growing?

 
At 8/10/2011 3:14 PM, Blogger reprise8 said...

from the lobster story:

“'Even if they get captured again, they’ve had a longer life,’’ Wendy Cook, who helped lead the ceremony, told Reuters.

Cook did not return calls seeking comment yesterday.

I'm guessing that is because Ms Cook has not yet figured out how to use a phone?

 
At 8/10/2011 3:17 PM, Blogger juandos said...

"This is the kind of scam that makes my blood boil"...

Well that's good rufus, the entertainment value alone would be worth the price of admission...:-)

Just kidding r...

What it seems most of you are missing the point is that corporate taxes are bad enough but somewhat predictable...

Are corporate taxes the real problem here or is the whimsical application of regulations and their attendent fines (which can be huge) even more damaging to corporate financial health?

 
At 8/10/2011 3:56 PM, OpenID Sprewell said...

Let me sum up the Cato post about men: they're doing worse in college now than women (who cares? Colleges are worthless, dying institutions), women have reached parity in the workplace and are doing better according to some measures (great, who can complain about that?), and all this somehow is a problem for the nuclear family. Of course, Ms. Hymowitz never considers that maybe we just don't need as many families anymore. We have 6 billion people on this planet, it's certainly not a scarce resource. ;) And historically human culture has overvalued families, largely only because you could go to war with more cannon fodder if you had more families cranking out kids who reached adulthood. Now that such wars are a thing of the past and contraception is cheap and efficient, it is quite stupid that our often outdated culture still encourages millions of people who don't really want a family to have one. I think it's great that more people are bucking that antiquated mindset. I honestly don't care if someone has 10 kids- as long as they can afford them and don't push the costs on taxpayers, like the Octomom- or never gets married, but this outdated mentality that Kay's pushing, that the nuclear family is still an important cultural unit that needs encouraging, needs to go.

 
At 8/10/2011 4:23 PM, Blogger Ron H. said...

Re: Lobsters:

Three things:

1. Lobsters don't eat after thay are caught, so they were likely very hungry, and eager to eat anything, including bait, that they were offered.

2. Lobsters aren't very smart, and they didn't learn anything from their prior unpleasant experience with baited traps.

3. This could get expensive for Buddhists.

4. If these were, in fact, all the same lobsters caught a 2nd time, it's a good thing they are being trapped, or they could soon become a plague. There don't appear to be any of the big fish or octopi that usually eat lobsters, in the area.

OK, 4 things.

 
At 8/10/2011 4:33 PM, Blogger Ron H. said...

This comment has been removed by the author.

 
At 8/10/2011 4:38 PM, Blogger Ron H. said...

TMI,

From your link:

"You’re supposed to view them equally. Their happiness is as important as your happiness, their suffering is as important as your suffering,” Fan said.

And, as they consider all lives to be of equal value, her group spent way less on saving 534 lobsters, than they would have on saving 534 humans. Smart cookies!

 
At 8/10/2011 4:50 PM, Blogger Ron H. said...

"I'm just Not a Proponent of 0.0%"

Why not?

"It's insane. You can't run a country that way."

Why not?

Once again Rufus posts his "make them pay" rant. No amount of evidence showing that his thinking is flawed, has the slightest effect on his failure to understand basic economics, or business accounting.

 
At 8/10/2011 5:43 PM, Blogger juandos said...

Excessive regulations?

Consider the following from the WSJ: Fed Up: A Texas Bank Is Calling It Quits

"The regulatory environment makes it very difficult to do what we do," says Mr. Depping, who last summer saw his bank hit with an enforcement order from the Federal Deposit Insurance Corp.

 
At 8/10/2011 9:52 PM, Blogger Larry G said...

re: the fascist FDIC

bull-feathers...

you can have a banking business without FDIC.

All those mortgage companies that played with credit-default swaps were not under FDIC regulation.

FDIC is voluntary. There are banks that do not belong to it and they do not have a logo on the door that says "deposits insured by FDIC".

In terms of nefarious regulation, consider what a liability or fire insurance company would require another company to do - to be able to buy insurance.

why HORRORs.. they'd REQUIRE you to use your precious profits for sprinkler systems and other expensive fire suppression systems...

...and...and.. they'd send "inspectors" to make sure you did what they told you to do...

..and..and.. they'd threaten you with sanctions and even cancellation if you did not do what they told you to do.

imagine that.. private companies "regulating" other private companies....

oh the horror....

 
At 8/11/2011 9:09 AM, Blogger Free2Choose said...

Che Said,"Perhaps those "great new factories" would be built here if we eliminated the corporate income tax altogether. Of course, that would mean that parasites, like you, would have to earn your own money instead of claiming an entitlement to someone else's."

Love, Love, Love this! Well, said.

 
At 8/11/2011 9:31 AM, Blogger Eric H said...

The lobster story was a joke - or at least the claim on catching the same ones again. Still funny.

 
At 8/11/2011 9:37 AM, Blogger morganovich said...

rufus-

that's a non sequitor.

when you do business overseas, the money is made there.

if you leave it there, that's your business.

what is it your are proposing to do?

those firms pay taxes overseas (where they do business).

you want to double tax them?

great plan.

then the multinationals will leave entirely, not just keep some cash offshore.

i keep cash offshore.

i do it to protect myself from dollar debasement. the swiss franc is up 27% YTD.

you want them to hold dollars, we need to stop turning dollars into lira.

the dollar has lost more than half it's value vs the franc in the last decade.

only a fool would not seek to shield himself from that if he had the means.

 
At 8/11/2011 7:04 PM, Blogger randian said...

this somehow is a problem for the nuclear family

Female hypergamy is what makes it a problem. Of course, in today's political climate, that's all men's fault.

 

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