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Internet Sales Tax

May. 7th, 2013 | 09:24 am
posted by: tirant in nerdsrant

Well, the Senate passed an internet sales tax law, which effectively requires businesses with over $1m in revenue to collect sales tax on behalf of the 46 sales tax collecting states, regardless of physical presence in any of those states.

Notice that the sponsors of this bill are all big box retailers (and Amazon), which makes it clear what the real idea behind this bill is... to prevent the rise of new competitors, as now companies will have a significant incentive to stay under $1m in revenue. And $23b... that somehow are not "new" taxes, despite clearly being new taxes.

On the plus side, in this version of the bill, the companies will only have to deal with the states, not the millions of combinations of state and local taxes. So yay?
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Bionic ears!

May. 2nd, 2013 | 02:49 pm
posted by: tirant in nerdsrant

Bionic ear that can "hear" radio waves sound pretty cool to you?

Post human future gets that much closer.
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Apr. 29th, 2013 | 08:39 am
posted by: nerdsranteditor in nerdsrant

As you are no doubt aware, LJ prunes inactive users like me. Fortunately, thanks to the actions of tirant, I was saved! Huzzah!

Now, if only people still used Nerdsrant.

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My dream car...

Oct. 4th, 2011 | 11:47 am
posted by: usofe in nerdsrant


Also, what happened here at Nerdsrant?  Have you all been sucked into the Facebook?

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Robert Reich to Pres. Obama

Sep. 2nd, 2011 | 01:57 pm
posted by: usofe in nerdsrant

Robert Reich's latest article shows his continuing attempts to get the President to act boldly next week.  To be honest with you, I'm doubting he'll do anything approaching the sort.

Considering his latest "jobs" fix by allowing asthma-inducing pollution to continue, the President will tack moderate Republican in his jobs offers.  Then, when he gets hammered by Republicans, he'll compromise by doing whatever they want him to do.  Next year, voters will be told that if Republicans took over, things could get worse. 

The way I see it, the only way our President can get re-elected is if the Republicans shoot themselves in their collective foot - a possibility, to be sure, but no way to actually rule a country.

Prof. Reich does leave out one other possibility for Republican leaders' angle:  They know that their policy prescriptions will lead to or exacerbate severe economic inequality, and they want this because they are on the winning side of their ideas, and they believe that this inequity is right and good. 

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Brad DeLong with a point

Aug. 30th, 2011 | 08:08 am
posted by: usofe in nerdsrant

Here's his post, on a debate in the pages of the Economist.  It's about expansionary policies; however, the first paragraph is a great, under-reported explanation of why it is a great time for the feds to be going into debt:

"When the U.S. government can borrow at a real interest rate of
-0.65%/year for five years, the case for larger deficits now--for
pulling spending forward from the future into the present and pushing
taxes back from the present into the future--is unanswerable: of course
the government should borrow more on such terms: households value the
taxes they will pay in the future if taxes are pushed back as much less
painful than the taxes they would otherwise pay today, and a huge number
of government spending programs offer at least a zero percent real rate
of return via their effect on the productive capacity of the economy."

Basically, we would be ridiculously stupid not to borrow when our lenders are willing to take a loss in value over time.

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Prof. DeLong at Berkeley with a great class

Aug. 25th, 2011 | 01:45 pm
posted by: usofe in nerdsrant

I don't know if he is really teaching this class, but the blog post is well worth the read.  If you want to get depressed, skip to the chart labeled, "Actual and Potential Real GDP".

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This is too cool!

Aug. 11th, 2011 | 11:34 pm
posted by: grumshak in nerdsrant

 Zombie 5k!


I would so do this.  After a lot of training, of course.  

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A quick reminder -

Aug. 8th, 2011 | 11:14 am
posted by: usofe in nerdsrant

Don't buy for a second the notion that the markets are collapsing because of the S&P downgrade of US debt.  Markets are failing because, in light of a likely recession and European governments looking worse and worse, the U.S. proved that it won't step up to prevent global recession due to a bunch of government leaders who don't understand economics.

How do I know it isn't fears of US debt?  Just look at Treasury rates right now:  they are the lowest they've been in about forever, because everybody leaving the stock markets are running to safety in U.S. debt.

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Sensible conservatism from Kathleen Parker

Jul. 31st, 2011 | 08:37 am
posted by: geomusicon in nerdsrant

Although it's not hard to do that when you are pointing out how the Tea Party is fragging the Republican party.

But let's face it Boehner's plan was less than a temporary fix...but better than the all-or-do-nothing attitude of the new Tea Party congressmen.

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