Study discovers Swedes are less well-off than the poorest Americans

Reuters via Haaretz ^ | 5/4/2002 | Reuters

[InvisibleChurch]

Study discovers Swedes are less well-off than the poorest Americans

probably much colder, too

[ninenot]

I am not a saint

Your sanctimonious tone fooled me.

[Torie]

Actually the game is to maximize profit. Sometimes linear algebra helps if you have a variety of inputs and a variety of products from which to choose to produce. The joy now is that you can do it all on an excel spreadsheet on your home computer. Isn't progress grand?

[Torie]

Annoying you is apparently a mere lagniappe for me. In any event trying to stick to substance is a noble goal to which we should all strive, and neither of us has.

[the bottle let me down]

You can't ignore the form of your investment in a fund. You don't own the shares of companies held by the fund. What you do own are shares in an investment company. You hire the management of that company to buy and sell assets with the hope that they'll make money for you.

Having said that, I agree with you about agency problems and the porous nature of many "Chinese Walls." Elliot Spitzer is a grandstanding putz, but some of the stuff that he's uncovered with respect to analysts and invenstment bankers looks and smells pretty bad.

[Torie]

Les taught economics? Oh dear.

[BJClinton]

Perhaps Sweden needs a bit more tough love, and a lot more spankings.

I'm surprised no one has recommended more guns as a solution.

[Eternal_Bear]

Socialism never worked

Amen. Sweden sucks. What a bunch of losers!

[ninenot]

Evidently you are not too well acquainted with American industry, either.

The marketing department in a well-run firm employs at least one individual (and perhaps several) whose entire life is consumed by 'product management.'

Excel or no, they utilize all that cute math to develop products which maximize income. This involves a variety of methods, including line extensions, promotions, line enhancements, and (in combination with manufacturing and design types) part-commonality economies.

Excel is great for a one-man band, but gets a bit stretched in a $350MM+ concern.

[McGavin999]

The Swedes also have longer holidays. It some ways, a study like this is apples and oranges

Not really Torie. The Swedes have longer holidays therefore they will live longer. Under normal circumstances that would be an ideal situation, however, there are some serious demographics problems coming their way. They have fewer and fewer people who are paying taxes. They are allowing immigration to get out of hand and many of these people are draining the system rather than contribute to it. What good is it if you live longer, the state runs out of money and can't pay your pension and healthcare during the period of your life when you need it most?

It seems to me there are some VERY serious problems ahead for the Swedes, and especially those Swedes who were planning on retiring sometime before they die.

[Torie]

Vanguard, soon to surpass Fidelity as the largest holder of assets in the land, recently had a piece from the Chairman, Mr. Brennan, that it took its voting power seriously, and voted for the good as it saw the good, and had a committee to investigate issues. Vanguard has about 500 billion of assets under its control, plus or minus. I haven't checked recently.

[Torie]

Just how many dysfunctional parasites from abroad have infected the nest in Sweden, and what percent of the population does it represent? Have you checked the fertility rate? I haven't, but the number is asserted. Yes, I am sure that it is below 2. Most of Western Europe is.

[ninenot]

I believe that he TRULY emerged 'on top' at the Pentagon, as well. Perhaps with some study of econ, you may achieve 'on-topness' and be able to grant $2K fully vested pension contributions to E-3's who are in war zones at your behest.

[BJClinton]

What's your problem? Your sarcasm tricks are wearing a little thin.

I thought it was funny. Besides, if you've seen Torie post, he's a good guy. Maybe a bit socialist, but hey, some people here think it's okay for crack to be sold in grocery stores. That's the joy of debate on Free Republic.

[Torie]

LOL. I kind of like you actually, although I don't think it is reciprocated. Cheers.

[Rodney King]

I don't receive them from funds because they vote them though they don't own them.

Yes, they do own them.

[Righty1]

Yes and they'll defend it to the death. sweden is the most testosterone challenged country I have ever visited. Being first in Europe is something akin to settling on the dark side of the moon in that berg. The last people that will ever accept these stats are ameri-swedes. The twisted cities and palo alto, ca are full of straw haired biddies in tennis shoes who hate capitalism. I think that more than other nordic countries the swedes exported all of their aggressive genes.

[Tribune7]

But to invoke supply side when we are talking about top rates of 30% to 45% is just silly.

At this point the line between economics and political philosophy gets blurry. Does one find oneself claiming that a tax cut will raise money for the government as per Laffer, while secretly hoping that it dries up the teat on our regulators?

I think I'd put myself in the category of advocating a tax cut with a sincere expectation that it will actually raise money, yet not really caring. We have a lot of unnecessary government.

And arguing for a break for capital gains over other income is even more dubious

I've always understood the argument for a capital gains cut to be more along the lines of it being an effective economic stimulous -- since it would presumably free up capital -- rather than a direct revenue raiser. So, if we are talking about raising revenue, I agree that a capital gains cut would not be as effective as cutting the top brackets and shutting shelters.

[Rodney King]

To close this off, a 70% rate, which is what we had pre Reagan for unearned income, is too high. A 50% rate for earned income is pushing it, if local taxes are on top. And distinguishing between earned and unearned income is nefarious ecnomically. It may not reduce revenues, but it does probably distort. But to invoke supply side when we are talking about top rates of 30% to 45% is just silly. There is no evidence that Laffer's napkin comes into play in that zone at all. And arguing for a break for capital gains over other income is even more dubious, although it would, and to the extent it is play does, benefit moi hugely.

So, in other words, you believe in the Laffer curve. You just disagree over its exact shape. Earlier you said it was a fraud, and poo pooed it as having first been drawn on a napkin. If you went straight to the point, and did not try to impress upon us your snottiness, this forum would use internet bandwidth much more efficiently.