Jim Manis on Most Anything

Jim Manis can formulate an opinion about a good many things, including those about which he has little knowledge. (And some dude named "Lazlo.") Visit The MagicFactory.

Saturday, January 28, 2012

Why Investing Properly in Education Makes Economic Sense:

Henry Levin and Cecilia Rouse make the argument for increased spending in public education in a recent issue of The New York Times. If their figures are correct,  "there is a return of $1.45 to $3.55 for every dollar of investment, depending upon the educational intervention strategy."

If this is true, why then do conservatives so oppose making such an investment? Some people simply hate paying more in taxes, regardless of the benefit, while others, especially politicians, are concerned only with their own immediate benefit. They need to distinguish themselves from those with whom they compete. They are seduced by the desire for power, and someone else has already taken the pro-spending position, so they simply choose the other.

And then there are those who are simply hateful: The dropout rate for African Americans and Hispanics is 45 percent, while for whites and Asians it is only 20 percent. Some people simply don't care about these "others," and then there are those who want to insure a steady supply of very cheap labor.





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Sunday, January 08, 2012

And the good news is …

The rich pay a lower tax rate than the rest of us.  Today's Washington Post reveals some startling numbers about the inequality that exists in America between those who have benefited the most and those who have made it possible for them to do so.

 Families earning below $100,000 per year pay an average of about 35 percent in payroll and income taxes, while those earning $1 million or more pay on average less than 30 percent.

And if that's not enough, the wealthiest 400 Americans paid only 18.1 percent (figures are for 2008).

By the way, the top 10 percent of Americans now own 70 percent of the country's wealth.