An Open Market on Economics
Re: An Open Market on Economics
I don't mind getting credit card tips, but they actually do all go to me at Domino's. The only advantage of a cash tip is that my federal income tax withholding is lower.
Re: An Open Market on Economics
Mongrel wrote:It's actually sort of hilarious to me that it's the buttfuck nowhere places who all have the magical digital future devices, whereas the huge happening modern cities still have many places relying on ancient physical tokens.
It's practical, really. If your business doesn't rely exclusively on physical currency, there won't need to be as much physical currency around that needs to be moved in and out of town.
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Re: An Open Market on Economics
Engadget: Patreon has decided to destroy itself, I guess?
They're shifting transaction fees to supporters instead of recipients, which punishes both small donations and donations to multiple creators. A huge number of creators now face the prospect of their $1-$5 pledge range being wiped out.
They're also moving from a flat fee to flat fee PLUS percentage.
They're shifting transaction fees to supporters instead of recipients, which punishes both small donations and donations to multiple creators. A huge number of creators now face the prospect of their $1-$5 pledge range being wiped out.
They're also moving from a flat fee to flat fee PLUS percentage.
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Re: An Open Market on Economics
New details emerge on the Patreon mess.
They're removing the ability to pay pledges with a Patreon balance. They're also removing the bulk processing - every pledge will be processed individually. These changes appear to be attempts to avoid being regulated as a money transmitter.
Soooooooo... pretty much everyone involved with Patreon - patrons, artists, and the company and rank-and-file employees themselves - is screwed.
It would not surprise me at all now if a company which is already fully licensed - such as PayPal or Visa - may now create a competing service which cuts out the middleman.
They're removing the ability to pay pledges with a Patreon balance. They're also removing the bulk processing - every pledge will be processed individually. These changes appear to be attempts to avoid being regulated as a money transmitter.
Soooooooo... pretty much everyone involved with Patreon - patrons, artists, and the company and rank-and-file employees themselves - is screwed.
It would not surprise me at all now if a company which is already fully licensed - such as PayPal or Visa - may now create a competing service which cuts out the middleman.
Re: An Open Market on Economics
It was news to me that, under the original terms, the transaction fees weren't included in Patreon's 5% cut. I'd always just assumed that covered their overhead and profit both. Foolish me for not anticipating maximum greed.
Re: An Open Market on Economics
Mongrel wrote:It would not surprise me at all now if a company which is already fully licensed - such as PayPal or Visa - may now create a competing service which cuts out the middleman.
Has anybody used Drip yet? Does it have the same kind of payment problems that Patreon just introduced?
It seems to me that changing your policy in this way right after the biggest crowdfunding site on the Internet announces that it's horning in on your business model is perhaps not the best business strategy.
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Re: An Open Market on Economics
Via the WSJ:
WSJ wrote:The possible marginal tax rate of more than 100% results from the combination of tax policies designed to provide benefits to businesses and families but then deny them to the richest people."
"As income climbs and those breaks phase out, each dollar of income faces regular tax rates and a hidden marginal rate on top of that, in the form of vanishing tax breaks. That structure, if maintained in a final law, would create some of the disincentives to working and to earning business profit that Republicans have long complained about, while opening lucrative avenues for tax avoidance. As a taxpayer’s income gets much higher and moves out of those phaseout ranges, the marginal tax rates would go down. Consider, for example, a married, self-employed New Jersey lawyer with three children and earnings of about $615,000. Getting $100 more in business income would force the lawyer to pay $105.45 in federal and state taxes, according to calculations by the conservative-leaning Tax Foundation. That is more than double the marginal tax rate that household faces today. If the New Jersey lawyer’s stay-at-home spouse wanted a job, the first $100 of the spouse’s wages would require $107.79 in taxes....."
Re: An Open Market on Economics
I am disinclined to trust a conservative-leaning "Tax Foundation" being quoted in a Murdoch rag talking about how marginal tax rates mean you're gonna pay greater than 100% taxes. 99% of the time, that means not knowing or knowingly misrepresenting how tax brackets work.
With this bill, it's not impossible that they fucked it up that badly though. But only because the non-partisan Tax Policy Center suggests that the federal marginal rates could peak as high as 85% in the right confluence of circumstances.
With this bill, it's not impossible that they fucked it up that badly though. But only because the non-partisan Tax Policy Center suggests that the federal marginal rates could peak as high as 85% in the right confluence of circumstances.
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Re: An Open Market on Economics
Yeah, my take wasn't "Taxes are too high" it was "this bill is such a colossal fuckup that there is no internal logic to it at all".
Re: An Open Market on Economics
A Maximum Income legislated through the tax code is a great idea, I think.
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Re: An Open Market on Economics
In the "Good news" column, Patreon walked back everything and apologized.
In the "Not so good news" column, well:
In the "Not so good news" column, well:
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Re: An Open Market on Economics
The largest strike in history is happening in India right now
There are other estimates that put it around 200 million, which is about the entire US working-age population.
AROUND 150 million people began a two-day general strike in India today against Prime Minister Narendra Modi’s anti-Labour and anti-trade union policies in India.
Workers from both the public and private sectors were joined by teachers and students from across the country, forming possibly largest strike in history.
There are other estimates that put it around 200 million, which is about the entire US working-age population.
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Re: An Open Market on Economics
not news, just fun
https://np.reddit.com/r/badeconomics/co ... t/efzt0vf/
And Jesus said, Behold, two men went forth each to buy a new car;
And the car of the first man was good and served its owner well; but the second man's was like unto a lemon, and worked not.
But in time both men grew tired of their cars, and wished to be rid of them. Thus the two men went down unto the market, to sell their cars.
The first spoke to the crowd that had gathered there, saying honestly, My car is good, and you should pay well for it;
But the second man went alongside him, and bearing false witness, said also, My car is good, and you should pay well for it.
Then the crowd looked between the cars, and said unto them, How can we know which of ye telleth the truth, and which wisheth falsely to pass on his lemon?
And they resolved themselves not to pay for either car as if it were good, but to pay a little less than this price.
Now the man with a good car, hearing this, took his car away from the market, saying to the crowd, If ye will not pay full price for my good car, then I wish not to sell it to you;
But the man with a bad car said, I will sell you my car for this price; for he knew that his car was bad and was worth less than this price.
But as the first man left, the crowd returned to the second man and said, If thy car is good, why then dost thou not leave to keep the car, when we will pay less than it is worth? Thy car must be a lemon, and we will pay only the price of a lemon.
The second man was upset that his deception had been uncovered; but he could not gainsay the conclusion of the market, and so he sold his car for just the price of a lemon.
And the crowd reasoned, If any man cometh now to sell his car unto us, that car must be a lemon; since we will pay only the price of a lemon.
And Lo, the market reached its Nash equilibrium.
https://np.reddit.com/r/badeconomics/co ... t/efzt0vf/
Re: An Open Market on Economics
A twitter thread and an article explaining how 22% of America's farms are zero-profit tax shelters.
Re: An Open Market on Economics
This is a real New York Times article.
Re: An Open Market on Economics
Almost half of America is poor.
43% of American households can’t afford a budget that includes housing, food, childcare, healthcare, transportation, and a cellphone. Translation: nearly half of Americans can’t afford the basics of life anymore.
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Re: An Open Market on Economics
higheststandardoflivingintheworld.jpg
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