April 25, 2024
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It shows how out of it I was in trying to be in it, acknowledging that I was out of it to myself, and then thinking, “Okay, how do I stop being out of it? Well, I get some legitimate illogical narrative ideas” — some novel, you know?
So I decided on three writers that I might be able to option their material and get some producer, or myself as producer, and then get some writer to do a screenplay on it, and maybe make a movie.
And so the three projects were “Do Androids Dream of Electric Sheep,” “Naked Lunch” and a collection of Bukowski. Which, in 1975, forget it — I mean, that was nuts. Hollywood would not touch any of that, but I was looking for something commercial, and I thought that all of these things were coming.
There would be no Blade Runner if there was no Ray Bradbury. I couldn’t find Philip K. Dick. His agent didn’t even know where he was. And so I gave up.
I was walking down the street and I ran into Bradbury — he directed a play that I was going to do as an actor, so we know each other, but he yelled “hi” — and I’d forgot who he was.
So at my girlfriend Barbara Hershey’s urging — I was with her at that moment — she said, “Talk to him! That guy really wants to talk to you,” and I said “No, fuck him,” and keep walking.
But then I did, and then I realized who it was, and I thought, “Wait, he’s in that realm, maybe he knows Philip K. Dick.” I said, “You know a guy named—” “Yeah, sure — you want his phone number?”
My friend paid my rent for a year while I wrote, because it turned out we couldn’t get a writer. My friends kept on me about, well, if you can’t get a writer, then you write.”
~ Hampton Fancher
“That was the most disappointing thing to me in how this thing was played. Is that I’m on the phone with you now, after all that’s been said, and the fundamental distinction between what James is dealing with in these other cases is not actually brought to the fore. The fundamental difference is that James Franco didn’t seek to use his position to have sex with anyone. There’s not a case of that. He wasn’t using his position or status to try to solicit a sexual favor from anyone. If he had — if that were what the accusation involved — the show would not have gone on. We would have folded up shop and we would have not completed the show. Because then it would have been the same as Harvey Weinstein, or Les Moonves, or any of these cases that are fundamental to this new paradigm. Did you not notice that? Why did you not notice that? Is that not something notable to say, journalistically? Because nobody could find the voice to say it. I’m not just being rhetorical. Why is it that you and the other critics, none of you could find the voice to say, “You know, it’s not this, it’s that”? Because — let me go on and speak further to this. If you go back to the L.A. Times piece, that’s what it lacked. That’s what they were not able to deliver. The one example in the five that involved an issue of a sexual act was between James and a woman he was dating, who he was not working with. There was no professional dynamic in any capacity.
~ David Simon
Here’s to freedom and liberty.
I owe a fortune this year.
This shit never happened on Bush’s watch. ALWAYS got back. Same during the Clinton years. ALWAYS got 500 or 600 back, every year without fail.
Verdict: Worst president EVER.
Oh, and movie question, asked without looking it up on IMDB:
Who is that last, sharpshooter member of THE LOSERS? Is that Metallica’s Kirk Hammett in his big-screen debut? You got Zoe Saldana (SO HOT), Javier Bardowney, Chris Evans (GOD), Idris Elba… then some pencil-stached, cowboy-hatted sixth-stringer from The Black Eyed Peas.
Who IS that guy?
Thank the President you love who started the expensive Iraq war and that deficit thing.
He was in “Che” and “The Limits of Control” (Oscar Jaenada). The role he’s playing, Cougar, is one of the most fun in the comic. If you think of them like the X-Men, Cougar is the Wolverine a bit, though not like the movie-version of Wolverine.
I don’t know but The Losers looks like a good time and appeals to me much more than Kick Ass. Jason Patric + Idris Elba = fun at the movies. And yeah Zoe Saldana is extremely fetching.
SERIOUSLY.
Been seeing Saldana in stuff since “Crossroads” (hard to believe the early, biggest Britney era is now a DECADE ago)…
But, damn, does she look insanely hot in those LOSERS ads. I was used to her popping up in middling stuff like HAVEN and CONSTELLATION, usually looking baked out of her head, but the raised profile has raised the hotness level.
Which is raising something else…
I got back more this year then I ever have before.
And the Losers looks like it may steal A-Team’s thunder (however much it may have).
The bit with her in the tub, guns blazing (clearly integral to the plot), is etched in my mind. It’s in every TV spot I’ve seen lately, which have been airing during TBS reruns and sporting events.
The standard “tax” for a single person you’re supposed to enter and deduct to figure out taxable income (box 5 on one’s 1040) went UP from 8,950 to 9,350. Right there’s AT LEAST 400 LESS anyone will be getting back if their income remained pretty much the same as last year.
Again, WORST PRESIDENT EVER.
You’re obviously doing something wrong, Lex (both on your taxes, and in life).
I’m single, I got more back. Roughly 400 MORE than last year.
Of course, we’re debating “worst president ever” with a guy who possesses the political acumen of a flattened gnat, and would gladly vote Megan Fox into the White House, so……
PRESIDENT FOX 2012.
LOWER TAXES. RAISE DICKS.
I got about the same back despite being paid about 25% more and less student loan interest because I’ve been getting more aggressive about paying it down. Don’t know what your problem is.
Happened to every single person I know.
Maybe Obama taxed me a little extra for being awesome.
I take it LexG didn’t use TurboTax. Worth every cent of its cost.
@storymark: “The A-Team” trailer premiered on the Fox telecast of the Daytona 500. Up in the great beyond George Peppard is crying.
yeah, turbotax for the win. Lex doesn’t know what he’s talking about, I made more and owed less in taxes and I don’t have any deductions other than the standard deduction and student loan interest.
It’s unfortunate I have to subsidize the debt of people with mortgages with higher taxes than I would otherwise have if the deduction didn’t exist, but I’ll definitely take advantage of that stupid mortgage deduction when I buy a house. Why am I mandated to contract with a private entity for a mortgage to get the mortgage tax deduction?! So unfair! Sounds unconstitutional to me, as unconstitutional as being mandated to contract with a private entity for health insurance to get the health insurance deduction. But at least that’s four years away.
oh, and since cable news will breathlessly report with no analysis the conservative radio canard that 47% of people pay NO Taxes it’s worth pointing out that is patently false. According to the NYTimes, only 10% of tax payers owe nothing in federal income tax (get a full refund), but they still pay state and munincipality tax and withholding taxes for medicare, medicaid and social security.
Remember, Rush Limbaugh and Fox News want you to believe that 47% of the population pays no social security, no income tax, no state taxes for the sole reason that he can push his agenda that the richest 53% pay 100% of the entire tax burden of the country. You know they’re full of shit because just try finding one person who doesn’t have withholding from their paycheck. Everyone pays taxes for 364 days of the year, even if they get a refund when they file, they’re still paying taxes the rest of the time. Rush and Fox News want to push this agenda because it makes the masses think that the rich are unfairly taxed, so the masses will then support tax cuts for the richest.
The first tax Obama should raise should be Capital Gains (both long term and short term) back to Clinton era levels. that’s relatively painless, and can be made more painless by leaving the first 1 million of capital gains at current levels.
I want these patriotic Republicans to tell me who should pay for the military bills footed by the government.
Just want to say I’m currently IN San Francisco and heading downtown to see FAITH NO MORE!! As Lex G better concur…they OWN. Back in 1991 I was such a big fan my license plate read FTHNOMR. I’m way, way too psyched right now.
PATTON POWER. FNM POWER.
Saw them way back then on their own tour, AND opening for GNR/Metallica. BOW.
Probably 47% of people don’t do their taxes because if even the EZ is fairly annoying/confusing to standard sadsacks like us, how the hell do uneducated poor people who work for tips EVER figure out their forms? How do first-gen Americans with faulty English understand taxes? Shit, if this country is CONFOUNDED BY A CENSUS where you WRITE YOUR NAME AND AGE and drop it in a mailbox, I’d love to know how some dude who got here from Lebanon six weeks ago and drives a cab for tips knows what the fuck to make of a 1040A.
A new photo collection, if anybody’s interested… http://mutinycompany.com/anon.html
Lex
I think its been explained to you on multiple site’s now that you clearly doing something wrong.
But by all means, don’t look into it.
Your “worst president ever” bit is clearly worth the lost income.
It’s Gold Jerry! It’s Gold!
Dude, I think someone with THREE COLLEGE DEGREES over here can figure out a fucking EZ form. I ran ’em three times, then had an ACCOUNTANT give it a once-over. I owed. Every single person I work with owed this year. I’m not doing anything wrong. I already fucking mailed ’em in and sent the check, so it’s a moot fucking point, but I love how a bunch of itinerant 1099 motherfuckers like Jeff McDouche who’s probably never had a 9-5 job in his LIFE is so sure they I flubbed out SUBTRACTING ONE NUMBER FROM ANOTHER. CHRIST.
Gee, if the stupid fucking book says my TAX for my adjusted income is X, and it’s way more than was withheld, I FUCKING OWE.
THREE DEGREES, DUDE.
Obama RAISED TAXES. END OF STORY. I don’t really give a shit about what allowances you guys claim or what STUDENT LOANS you’re paying off; I had ONE JOB all year, and I owed. FIN. DONE. I PAID IT. Now I’m bitching about it, but it’s too fucking late for TURBO TAX and Account Messiahwhatever the fuck to help me sort through them.
TAXES WERE FUCKING RAISED.
Oh, yeah, and one more for the road:
WORST PRESIDENT EVER.
Lex, I know this is just schtick out of you, but the fact of the matter is if you make anywhere near the amount of money you’ve claimed here in the past, your taxes are lower this year than they were last year. If your withholding was off, it’s either your employer’s fault for calculating things wrong or your fault for screwing up your W2.
Lex, this is the movie site that will lend a sympathetic ear to your tax issues:
http://bighollywood.breitbart.com/
Maybe Taxes were just raised for loudmouthed know-it-alls who can’t be bothered to get it right.
But me, hell, I worked one job all year, have no deductions beyond the standard, paid virtually nothing in loan interest, got a BIG raise last year and still got back more than I ever have.
Sucks to be you, Lex.
Lex, you’re an awful person. I reiterate my previously-stated intention to kick you in the nuts if we ever cross paths (assuming you haven’t committed suicide before you finally work up the willpower to leave your apartment for a change).
Maybe I haven’t been paying attention, but is David a fan of Glee? It would seem to be up his alley.
GLEE SUCKS. It is the work of the devil and a TRILLION times more WOMAN-HATING and MISOGYNISTIC than anything ever, ever, ever.
Plus it’s so cutesy and precious and campy, it is LOATHESOME garbage.
Dude, I think you’re the last person around here anyone is going to trust to judge what is or isn’t misogynistic.
You’re the last person around here anyone is going to trust judge what is or isn’t interesting.
BOOOYAH HERE COMES THE SLAM.
GLEE is DOGSHIT for hags on Television Without Pity.
I did like the Avril Lavigne number they did though.
Yeah, that’s nice and all Lexxy. Had you not noticed that I didn’t make any claims to such? Probably not.
I do find it funny that you still watch the show, despite your stated hatred for it. Another “Gee, what’s he overcompensating for?” moments from you.
I don’t watch that shit of my own free will, dude.
Give me some fucking credit.
Back in the real world I turn off caps lock because I just found out the next “Twilight” movie might be in trouble.
This is exactly why people are pissed at Obama and the left.
Lex says his taxed got raised.
And what do all the lefties here (who have never met him at all) do…they say he is either lying or wrong.
How the hell could you possible know that?
People are pissed at Obama and the left not because they are racistbigotedhomophobicetc. They are pissed because the left pisses all over their own personal life experience and hardship while knowing nothing about it.
Now, I am going to go and file my Canadian taxes where I can be proud that my earnings will be taxed to the max so that I can pay for someones sex-change operation or some free heroin needle program everyone knows doesn’t work.
Leftists. Gold. Pure comedy gold.
If you’re looking to make a political point, using Lex as an example isn’t the way to go, dude.
“Leftists. Gold. Pure comedy gold.”
Not nearly as funny as your Glenn Beck-ish overly broad and simplistic generalizations. When you attempt to analyze American politics Nicol, you only prove how little you seem to know and understand about the subject. If I were to rant and rave about “the right,” you would jump all over me for being narrow-minded. Yet you continue to froth at the mouth about “the left” like some Jesse Ventura loving conspiracy theorist who thinks FEMA is going to put him in a camp for disagreeing with Obama.
Also, considering the hundreds of racist jokes and uses of the word” nigger” from numerous family members in the last year-and-a-half, yes, there is a hell of a lot of racism on the right. My wife’s uncle recently sent her brother a joke, which he showed me. It was a picture of a little art project of his. In his fridge he set up three beer bottles. Two beer bottles were dressed with white hoods, made to look like KKK members. A third beer bottle, very dark, hung from a little makeshift noose in between the two KKK beer bottles. A joke about Obama accompanied the picture. I could go on all day with stories like this. There’s plenty of racism, which you’d know if you had any idea what the hell you were talking about.
You’re a moron, Nicol. I’m assuming you’re talking about Insite. Ignoring your political troll bait, I’ll point out that since it opened about half a million a year has been federally funded. There’s been more from the BC gov’t…but you live in Toronto, no?
And not “everyone” knows that it doesn’t work. Just blind ideologues like yourself:
Before Insite, the Downtown Eastside saw overdose deaths and infectious diseases reach calamitous heights. Overdose deaths in Vancouver spiked to a high of 201 in 1993 and, according to a United Nations report, the Downtown Eastside has an HIV rate of 30 percent, while Canada as a whole has a rate of only 0.2 percent.
A mass mobilization led by drug users and the creation of illegal injection sites in the neighbourhood finally helped secure the political will needed to create Insite, which has witnessed hundreds of overdoses, but as yet no deaths. And since it opened, overdose deaths across the city have declined
Nicol, this is simple:
The U.S. government gave all Americans earning under $75,000 a tax credit by reducing the amount withheld from paychecks. Now, obviously non of us knows how much Lex really earns or how many children he has or how much he makes in capital gains. But presuming what we think we know about Lex (makes under $75,000, no children, no investments, no assets, is a loser) and since he insists that his situation is identical to what it was in 2008, he got a tax cut. End of story barring further information.
“…the left pisses all over their own personal life experience and hardship while knowing nothing about it.”
So you’re a conservative because some mean liberal hurt your feelings? Nice move.
“…so that I can pay for someones sex-change operation or some free heroin needle program everyone knows doesn’t work.”
What was that again about not being homophobic etc.? Nice try.
‘none’ of us. Pardon the typo.
Also, Nicol, the subtext of your post is that you’re defensive, resentful, and paranoid. And by implication, stunningly lacking in self-awareness.
Obviously Nicol is a “compassionate conservative.” He truly cares about the hardship of others. He would never piss on it.
I anxiously await Nicol’s defense of Massey Energy’s pathetic and criminal record of fighting safety citations which led to the death of 29 miners. Owner Don Blankenship sponsors Tea Parties and appears with Sean Hannity at rallies. These are the folks who claim government is a gangster in their lives. Palin and the GOP have nothing to say about the mine disaster. Wonder why. And Obama called these anti-union, anti-regulation — anti-worker — fools out today. So keep on talking, Nicol.
Nicol’s whole modus operandi is to shit in the pool then run away when presented with actual facts so, for the most part, he doesn’t deserve a response. But here it is anyway.
We know approximately how much Lex makes because he’s talked about it here in the past. Therefore we know that his taxes did not go up this year. Period. Nobody needs to extrapolate from their own experience to understand this. Based on the information Lex has provided, and based on the fact that the same tax code applies to all citizens, anyone who’s willing to inform himself before shitting out a comment can reach the same conclusion. Nobody is surprised then that you did not.
I miss the neo-con Nicol. I’ve come to have a kind of benign tolerance for his rodentine tea-bagger forays, I’m even perversely amused by his turd in the punch bowl act, his tea-bagging ass-spray. But I can’t help being a little sad and wistful that the neo-cons are no longer remotely controlling the robo-herds of right wing dupes and ammo stockpilers. Somewhere Frank Gaffney is crying softly in a darkened room.
when in doubt, blame canada
“If you’re looking to make a political point, using Lex as an example isn’t the way to go, dude”
lol, lyt
and also, it’s consistently amusing when someone complains about ‘funding’ a needle exchange or some such, which accounts for like .05 cents of their tax dollar, and yet 40 cents of that tax dollar (or whatever it is, i just made that up) goes to fund WAR TECH INC. why don’t people complain about that all the time all day every day, i would
(and “I miss the neo-con Nicol”, that was funny too)
Discretionary spending for the Department of Defense constitutes $663.7 billion of the 2010 budget, of which approximately $180 billion is allocated to the “Overseas Contingency Operations” (aka Iraq and Afghanistan). These constitute around 18.7% and 5.1% of the $3.552 trillion budget respectively.
Contrary to some rumours, the majority of the $1.17 trillion deficit comes not from new spending but from decreased revenues and increases in existing programs. Due to tax cuts and the GFC, revenues are projected to drop by $330 billion while increases to Social Security/Medicare/Medicaid etc. account for another $300 billion. In comparison, Obama’s stimulus package accounts for $150 billion in new spending, with another $50 billion for other new programs, while the remaining $400 billion is carried over from the previous budget.
It should probably be pointed out that the budget for discretionary spending ($1.368 trillion) is extremely close to the size of the deficit ($1.171 trillion). If the “Contract From America” circulated in the last day or so is enacted, virtually all discretionary spending would have to be eliminated to satisfy agenda item #3 – “Demand a Balanced Budget”. As the preamble of the contract specifies the duties of the government to include “administering justice and ensuring our safety from threats”, this creates an inherent paradox as the budgets for both Department of Defense and Department of Justice are funded via discretionary spending. For the 2010 budget, it’s mathematically impossible to balance the budget while satisfying these duties.
so about 24% of your tax dollar?
foamy you are so stats. i had this lurking suspicion you would supply this bit of trivia. kudos
wow 24%. ONE QUARTER of your tax dollar to the war machine. that’s a chunk of change. you could buy a lot of cool stuff with that
Sorry if I wasn’t clear – the 5.1% Iraq/Afghanistan budget is part of the 18.7% Department of Defense budget. That’s still larger than the next 2 largest federal departments combined (Health at $78bil and Transportation at $72bil).
It’s my job to google these things and pretend I knew them all along.
“The U.S. government gave all Americans earning under $75,000 a tax credit by reducing the amount withheld from paychecks.”
This statement is a non-sequitor. Reduction in withholding is not a reduction in taxes. In fact, if you reduce withholding, but do hold taxes the same, then at the end of the year you need to make up for the taxes they didn’t withhold during the past year, either by getting less back or by paying more.
Which, gee, is exactly what LexG said happened.
(I got more back, but I wasn’t eligible for the tax credit. I got it by increasing my charitable giving to offset my pay raise.)
Those poor little war-machine cheerleaders, we’re hardly even talking about bombing Iran now. A few years ago, the neo-cons could yank everybody’s chain about dropping the deuce on those wily persians.
Jeremy B: THANK GOD somebody FINALLY GETS IT. I was losin’ my motherfuckin’ mind up in here (TM Avon Barksdale.)
Yes, it’s entirely possible they were taking out less during the calendar year on my actual paychecks (I’d argue it was a negligible amount when you break it down that way), but if I then OWE IT BACK IN APRIL ANYWAY, that’s NOT A TAX CUT.
Also: NICOL POWER.
Jeremy and Nicol, the tax cut was performed as a reduction in paycheck withholding, AND by not requiring that money back on tax day.
I don’t really understand why this basic factual information is so hard for people to process, aside from Lex enjoying spreading his misery around passive-aggressively.
JEFF MCDOUCHE, for the LAST MOTHERFUCKING TIME for you in the CHEAP SEATS:
You did not prepare my taxes nor are you privy to the exact figures. I am not going to publish my figures on a MOVIE SITE of all places. But you cannot sincerely think that your personal experience with my paperwork, WHICH IS ZERO, is somehow a more accurate read of MY SITUATION than my own.
Using a TOTALLY INVENTED FIGURE AND SCENARIO, let’s say in 2008 I made X DOLLARS. In 2009 I MADE THE EXACT SAME X DOLLARS.
THE FLAT FUCKING TAX THAT YOU ENTER ON 1040EZ BOX MOTHERFUCKING FIVE is 500 DOLLARS DIFFERENT than it was LAST YEAR. YOU CAN LOOK THIS UP, DUMB ASS.
I have a COPY OF MY 2008 TAXES. I HAVE A COPY OF MY 2009 TAXES. GO TO BOX 5.
DO YOU UNDERSTAND THAT? BOX 5. The amount you are supposed to subtract from your income IS DIFFERENT THAN IT WAS LAST YEAR. This is a number that is identical on EVERY COPY OF THE 1040 IN THE WORLD. IT IS A DIFFERENT FIGURE THAN IT WAS LAST YEAR.
When you use this STANDARD AMOUNT FIGURE to calculate your TAXABLE INCOME, it THROWS YOU OFF FROM WHERE YOU WERE LAST YEAR. Thus when you refer to the TAX CHARTS, even if your income was the same, you have a different tax than last year. If your federal withholdings weren’t as much as that number, YOU OWWWWWWWWWWWWE MONEY.
Again, the issue here is probably that LESS WAS TAKEN OUT DURING THE YEAR (which seems impossible, though if you spread a few hundred over 26 paychecks, you probably won’t notice it) but it doesn’t mean shit since I OWE IT RIGHT BACK.
FIN. DONE. THE END. CHRIST.
Lex, I don’t really give a shit about YOUR specific taxes. I’m responding to your bullshit claim that Obama raised taxes, which he didn’t unless you make over $200,000. And I don’t think you do.
Am I the only one who pays attention to the news or can do a google search?
OF COURSE HE RAISED TAXES.
Lex, take a look at box 5 on 1040EZ. It’s the amount by which your adjusted gross income is decreased, with the difference being your taxable income.
In case the caps help: THE AMOUNT IN BOX 5 BEING HIGHER IS A GOOD THING. The amount in box five is money that is exempt from taxation. An increase in box 5 means you pay taxes on less of the money than you earned this year.
Not if employees didn’t alter the withholdings accordingly.
(employers*)
Sorry, you didn’t get a cut if your income is above $95,000, not $200k. My mistake!
Lex, if your employers didn’t calculate your withholdings properly…nobody here gives a shit and wants to listen to you whine.
If you make 70K a year, drop 100 bucks on somebody to do your taxes. Or get an accountant.
Jeff, stories like mine are coming in FROM ACROSS THE COUNTRY. It’s hardly just me. I know dozens of disillusioned Obama voter types who are wondering why they owe so much this year.
Was there some NATIONWIDE EDICT that employers should recalibrate withholdings? OF COURSE NOT. Employers probably kept up the status quo, so the INCREASE IN BOX FIVE (as Eric has put it) is a SNEAKY DEVICE TO RIP PEOPLE OFF by basing the tax on a HIGHER AMOUNT even though withholdings stayed the same.
DO THE RESEARCH.
And again, Jeff is like the ULTIMATE “couple of 1099 gigs a year” itinerant employee who coasts most of the year sans income (talk about dudes who need to leave the apartment)… Hey, whatever man, but someone who BY HIS OWN CHOICE makes so little money shouldn’t be doling out financial or tax advice.
Christian’s entire source of employment is an equal mystery… He’s a New Beverly hanger-on with a WordPress movie blog, but even when asked directly, he’s never copped to having any viable means of employment. He lives in L.A. and doesn’t own a car… He doesn’t review professionally, doesn’t seem to work on films…
I’d wager rich Portland parents, or currently lives with his mom.
Again, not exactly an apt financial advisor.
Actually yes, the IRS mandates how withholding is formulated.
People are complaining because they got the tax dribbled out to them all year instead of in one big fat check like Bush did.
Also, Lex, I’m very unhappily underemployed, not by choice. When you decide to move to Japan for reals, I’d gladly take your job with a 45% pay cut.
Go into any post facility in Burbank and you’ll have a 35K job within twenty minutes.
It’ll be boring, soul-deadening, miserable and depressing beyond ALL belief, it’ll probably put an effective end to your film-editor aspirations…
…but you too can clean up transfers or subtitle other-region pornography or mark timecode or transcribe Drew Carey’s Price is Right for posterity. You might even get a snazzy direct-deposit paycheck.
That would be the greatest thing in the world for me right now, and none of them are hiring.
Why even bother debating anything with the worlds self-proclaimed biggest loser. Facts are irrelevant, he’ll always play the sad-sack looking for pity
I have a way for Lex and Jeff to solve their financial problems: Lex needs to get Jeff a job at his post-house, then some enterprising soul who’s braver than I needs to film the two of them interacting in their adjacent edit bay cubicles and turn the raw footage into a reality show. “It’s ‘The Odd Couple’ in a post house!”
GOOD IDEA
Just add booze.
Lex, are you going to be creepy forever? Stick to what you know, film, early baldness, Limp Bizkit, TWILIGHT and your self-loathing internet party.
stick to imdb, without which lex would be lost
Jeff – People are complaining because they got the tax dribbled out to them all year instead of in one big fat check like Bush did.
And why was it “dribbled out to them all year” instead of a lump sum?
Because even though a lump sum is better politically, a gradual dribbling is better economics.
gradual dribbling alone keeps the the ‘teena lady/depends’ adult diaper industry rolling in dough. good economics right there
Better economics. How?
Time value of money.
In its simplest form, stick the extra money as you get it in a short-term deposit bank account and you have $X extra interest you wouldn’t have otherwise if you got paid at the end of the year.
Or lets you clear your credit cards earlier so you don’t rack up late payment penalties.
Or provides liquidity in case something unexpected crops up (either a bill or investment opportunity).
It may feel great to get a big rebate at the end of the year, but getting it in your hand earlier is always better.
Foamy – those are logical decisions, but that wasn’t the reasoning behind it.
It was drawn out so people would spend it on the retail economy, but they either banked it or used it to pay off debt. So we’ve seen the consumer debt fall, but a massive bulk of it has been from bank write-offs and disenrolled credit debt – people who have debt on unusable credit cards.
Now we’ve seen an uptick in retail the past two months, so the question has become what are people spending? Most likely savings, since income is stagnant.
I’m not implying the “dribble” is bad, but that its intended effect didn’t occur until now, which makes it no different than the yearly lump rebate except a number of people like Lex are getting hit by the changeup.
I don’t think I agree with you there on your detective work, Martin.