All posts by Joseph

Political Rants

Sharing the wealth.

I should start this post with the standard disclaimer that I am not an economist. Inasmuch as this is a nominally free country, at present, I am going to opine on one of the central issues in the Democratic primary debate – the idea of instituting a wealth tax. Advocated in some form by both Bernie Sanders and Elizabeth Warren, taxing wealth is not a new idea by any means. Chris Hayes’s recent conversation with Gabriel Zucman gives a really good overview of the question, so if you want to hear someone knowledgeable discuss the merits of instituting a wealth tax in the United States, by all means give that a listen. For now, here’s my once-over-lightly. right in time for the holiday season.

First, while this idea is remarkably popular, there is a lot of howling on the part of articulate opinion over it. If I were to guess, I would say that the reason may be simply that virtually everyone you see on television has some magnitude of wealth in the form of stocks, property, etc. in excess of what Warren or Sanders would deem taxable in their proposals. The reasons they typically give, though, are the standard capitalist tropes about stifling innovation, misdirecting funds to inefficient government programs, etc., etc. There is honestly no credible evidence to substantiate this claim, but even if some version of it were true, the revenue generated by such a tax would be more than worth the cost of inspiring some caution on the part of the billionaire class. Also, I think it’s important to fully understand what being a billionaire means. Having billions of dollars is not merely being wealthy; billions are about power, and I don’t mean purchasing power. I think there’s a strong argument to be made for putting a cap on wealth simply to constrain unaccountable power and influence on the part of billionaires, but that’s another conversation.

Bernie: just tell them they'll pay less property taxes. Piece of cake.

Zucman, a recognized authority on income and wealth inequality, points out that in America we already have a form of wealth tax, and it’s one that most potential readers of this blog (or any other blog, for that matter) are directly affected by: property taxes. For decades, home ownership has represented far and away the principal form of wealth held by ordinary (i.e. non-rich) people in the United States. I suspect it’s no accident that homes are taxed in a remarkably regressive way – specifically, not indexed to income in any way. Also, as Zucman points out, the property taxes we pay (either directly or indirectly as renters) are at the same level regardless of whether the owner holds a mortgage or not. So you may have less than 40% equity in your home, shell out half of your income on your mortgage, but still pay taxes on the full assessed value of that property. (I don’t know about other states, but here in New York, you can roll your taxes into your mortgage payment for added convenience. How thoughtful!)

A true wealth tax, on the other hand, would consider all forms of wealth, not just this narrow category that disproportionately impacts workers. It would be progressive – the less you own or earn, the less you pay – and a hell of a lot more fair than our current property tax system. So don’t buy the hype, people. As with our health care system, we are already doing it … we’re just doing it wrong.

luv u,

jp

Uncategorized

Twelve days of it.

2000 Years to Christmas

On the first day of something my something gave to me … something, something, something, blah, blah blah blah blah, five golden … things!

Arrgh. Leave us face it. For a band that began its recording career with what was ostensibly a Christmas album, we are terrible at remembering even the most oft-repeated holiday songs. Someone – I think it was Marvin (my personal robot assistant) – once suggested caroling around the neighborhood on Christmas eve, hoping for some charitable cast-offs and crusts of festive breads, but when you glom over too many lyrics, you lose credibility as a caroler and instead of handing foodstuffs to you, your audiences tend to throw them at you with some force. Personally, when it comes to seasonal pastimes, I prefer the ones that don’t involve serious festive injuries and having steaming vats of hot holiday cheer poured on us from second-story windows. Call me Scrooge.

We don’t have any really strong holiday traditions. Probably the most enduring one is our annual Christmas week sequestration, imposed on us by the local DPW, which views the abandoned Cheney Hammer Mill as a handy place to dump tons of snow they’ve removed from more affluent and generously populated quarters. Sure, we can’t emerge from the mill for a stretch of days, but that gives us a reason to be innovative in our festive celebrations. It’s not about how many gifts you buy, or how much food you throw in the garbage disposal …. no no, Christmas is about the little things. Really little things, like nano particles. You see, when we’re snowed in over the holidays, our mad science advisor Mitch Macaphee takes it upon himself to show us slide presentations of particles he has utilized in his more depraved experiments. A four-hour powerpoint on sub atomic particles – now that’s the kind of Christmas I’m talking about.

Dull.

Speaking of Christmas, as I mentioned before, we are marking the 20th anniversary of our first album, 2000 Years To Christmas, this season. And when I say we’re “marking” it, I don’t mean urinating on it …. far from it! While 2000 Years To Christmas is not generally available in stores, there are umpteen different ways to hear it, download it, and even get your hands on the disc. If you want to know more, just visit our special Anniversary Page for details.

Otherwise, we’ll be posting a few things over the holidays, as always. Maybe not all twelve days … just the ones we know the lyrics to.

Political Rants

Clueless Rudy.

Impeachment is now officially under way. That’s not what I’ll write about today, however, because you are most likely hearing about that absolutely everywhere else, and I have little or nothing to add to what’s being said elsewhere. Today I’ll opine on the career and slime trail of former NYC mayor Rudy Giuliani, whose evident losing battle with dementia is being televised nightly. I can’t tell you how many times I’ve heard people ask, what happened to Rudy? The answer is simple: nothing. Like Trump, he’s just as nasty as he ever was, only older and more scrambled.

Because of the nature and the timing of the 9/11 attacks, many people remember Giuliani fondly as “America’s Mayor”, I think mostly because he didn’t run up the street screaming when the towers fell. What he was then, of course, was a failed mayor at the end of his term, a man with the blood of many people of color on his hands, and an immensely corruptible individual whom Jimmy Breslin once famously described as a small man in search of a balcony. Well … he found that balcony, and then some. Anyone who remembers Amadou Diallo, Patrick Dorismond, and Abner Louima knows something about what policing was like in NY City under America’s mayor. His personal abuses were legendary. At one point during his tenure, I remember a random cab driver (unofficial one; the 90s equivalent of an Uber driver) complaining about how Giuliani’s lover’s kids would run wild in the driver’s apartment building, bragging that they had mayoral protection. But I digress …

Why pick this photo? Because he effing deserves it.

After achieving hero status in the wake of 9/11 (despite his placement of the emergency command center up a few precarious floors in the World Trade Center after the 1993 attack and his sweetheart contract with Motorola for emergency communications that failed on the fateful day), Giuliani went out into the world, proffering his supposed expertise in security and anti-terrorism, helping police agencies, despotic governments, and corporations keep the rabble in line … for a steep consulting price. I suspect he thinks of Trump as just another despot who needs his services, and he would be right. Now, in his dotage, Giuliani may make a lot less sense, but he is still treated with some deference in foreign capitals, and more so thanks to his close association with the president of the United States.

Let’s be clear: in 2016, Giuliani openly bragged just days before the election about the New York office of the FBI having the goods on Hillary Clinton. A short time later, the story broke about Anthony Weiner’s laptop and the revival of the email probe, effectively torpedoing any chance of a Clinton victory. He and Trump relied on this tactic to get candidate Trump over the electoral finish line. It worked then, and it may work again without some real effort on the other side.

luv u,

jp