Top Of My Head

Thoughts on everything from Politics to Video Games

Date: July 18, 2011

Economics

Let’s discuss how to pay a debt.

  1. You earn revenue – that’s money coming in.
  2. You send your debtor a check for what you owe.
  3. Repeat steps 1 and 2 until debt is paid.

See how easy that is?

Now, here’s a little tip to make it even easier:  Don’t quit your job while still trying to pay your debt.  In other words, don’t lower your revenue, because if you lower your revenue, you will have a harder time meeting all of your obligations, including your debt repayment.

Let’s move this out to the government:

  1. Receive taxes.
  2. Send checks to debtors.
  3. Repeat steps 1 and 2 until all debts are paid.

To pay the debt off faster, cut spending.  To not pay it off at all, cut revenue.

That’s what the Republicans want to do, they want to cut our revenue when we can least afford to do so.  They are holding the debt ceiling hostage because they don’t want to raise the taxes on the richest people in our nation from 35% to 39.6%.  This isn’t going to raise your taxes or even my taxes.  I’ve all ready discussed in an earlier post what will happen if we default.

Tomorrow, I’m going to post the tax rates over the past ten years.  Remember, these aren’t rates on your GROSS salary, they’re on your NET.

 

Fox Nation VS Huffington Post

Talk about battling headlines!  Two different websites discuss the new Sarah Palin documentary, “The Undefeated” with two very different takes:

Palin Film Opens Strong, Theaters Packed

Sarah Palin Documentary Premiere: Film Opens To Nearly Empty Audience

The first headline comes from Fox Nation. The article below it clarifies that the theater in Grapevine, TX sold out. That’s pretty impressive, I guess. Grapevine has 46,000 residents and the AMC Theater has 28 different screens – 5 of which are showing Harry Potter.

The second headline comes from Huffington Post.  The article below this headline comes from the Atlantic and other sources.  However; the main gist is about a theater in Orange County, CA.  I wouldn’t expect anyone to show up for a Sarah Palin documentary in Orange County, CA.  That is definitely not Palin Country.

Anyway, I think both of these headlines just show how far we’ll go to spin a story.  Remember when the media would’ve told both sides of the story in one article?  A headline stating, “Palin Documentary Has Mixed Turnouts” would be more appropriate. Don’t you agree?

 

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