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View Diary: The Lie Behind Capital Gains Tax Rates (41 comments)

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  •  self-fulfilling prophesies & herd-poisoning. (5+ / 0-)

    Umbrellas make for a bad analogy.

    The behavior of financial markets is largely irrational.  This fact is admitted in the usual language about Wall Street being motivated by "fear and greed," both of which are mediated by the amygdala, one of the lowest-level structures in the brain.  One might do as well with investment decisions made by a colony of trained rats.    

    As well, competition between states and between nations is a huge factor in other countries emulating our worst practices.  When the US offers favorable tax treatments for financial masturbation, other countries fall in line for fear of capital flight.  Now you see everyone carrying umbrellas because they saw others carrying umbrellas, rain or not, because a popular radio station forecasted a downpour even though there isn't a cloud in the sky.  

    "Minus two votes for the Democrat" equals "plus one vote for the Republican." Arithmetic doesn't care about your feelings.

    by G2geek on Mon Sep 24, 2012 at 05:43:40 PM PDT

    [ Parent ]

    •  The financial markets are largely rational (2+ / 0-)
      Recommended by:
      bcdelta, VClib

      they are sometimes wrong, but they are rational.

      Don't conclude that the financial markets are not rational because you do not understanding financial markets.

      The most important way to protect the environment is not to have more than one child.

      by nextstep on Tue Sep 25, 2012 at 08:54:45 AM PDT

      [ Parent ]

      •  And (2+ / 0-)
        Recommended by:
        nextstep, Pirogue

        they will remain rational if Congress/SEC enforces legislation on the books to prevent bad behavior, do not repeal things like Glass- Steagall and create new legislation as required.

        "And there are those who give and know not pain in giving, nor do they seek joy, nor give with mindfulness of virtue; They give as in yonder valley the myrtle breathes its fragrance into space" Khalil Gibran

        by bcdelta on Tue Sep 25, 2012 at 09:43:48 AM PDT

        [ Parent ]

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