Comments for NOLA Notes http://www.nolanotes.com Wed, 01 Feb 2012 02:40:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on What’s Wrong with Romney’s Tax Returns by Keith http://www.nolanotes.com/2012/01/24/whats-wrong-with-romneys-tax-returns/comment-page-1/#comment-8050 Keith Wed, 01 Feb 2012 02:40:00 +0000 http://www.nolanotes.com/?p=2891#comment-8050 NOLA: If you remember from some of my prior comments,I am about as conservative as they come and I agree with you that there are significant problems with the tax code. The fact that my wife and I paid more in income taxes than GE did last year is a real problem. The system is not fair - it picks winners and losers, favors some things and not others. But that applies to not only the deductions and the differing tax rates for wages vs. capital gains but also the varying rates for income. NOLA: If you remember from some of my prior comments,I am about as conservative as they come and I agree with you that there are significant problems with the tax code. The fact that my wife and I paid more in income taxes than GE did last year is a real problem. The system is not fair – it picks winners and losers, favors some things and not others. But that applies to not only the deductions and the differing tax rates for wages vs. capital gains but also the varying rates for income.

]]> Comment on Dim Sum and Dragons Too by Betty http://www.nolanotes.com/2012/01/22/dim-sum-and-dragons-too/comment-page-1/#comment-8045 Betty Mon, 30 Jan 2012 21:51:35 +0000 http://www.nolanotes.com/?p=2857#comment-8045 Definitely sounds like an interesting meal - not so much for me!!!! Definitely sounds like an interesting meal – not so much for me!!!!

]]> Comment on Red Beans and Rice-ly Yours by Betty http://www.nolanotes.com/2012/01/19/red-beans-and-ricely-yours/comment-page-1/#comment-8044 Betty Mon, 30 Jan 2012 21:45:04 +0000 http://www.nolanotes.com/?p=2840#comment-8044 I wouldn't even think of living elsewhere. I wouldn’t even think of living elsewhere.

]]> Comment on What’s Wrong with Romney’s Tax Returns by Nola http://www.nolanotes.com/2012/01/24/whats-wrong-with-romneys-tax-returns/comment-page-1/#comment-8016 Nola Tue, 24 Jan 2012 21:53:35 +0000 http://www.nolanotes.com/?p=2891#comment-8016 Tara, I do more estate tax than income tax. And in the estate area, I am always surprised at the number of folks I talk to that are diabolically opposed to an estate tax---especially folks that are never likely to be subject to it because they will never meet the limit (currently $5,120,000 per person or over $10M per married couple). But the idea of striking it big is something folks like to think could happen to themselves. Then possibly having to pay a portion in a death tax (a percentage of just the amount over the exemption limit) is something that downright pisses people off. People that WILL NEVER be subject to it. I think the income tax picture is the same. Ask people if they'd be ok raising the capital gains tax from 15% to, say, 25% (still 10% less than ordinary income) and people, I suspect, will react similarly to the death tax: I *could* one day have more unearned income than earned income and wouldn't that be nice, oh, and if that happens hell NO I don't want to pay a higher rate in taxes so let's just keep the capital gains tax where it is at a low 15%. And really, this post over-simplifies the full disparity going on. What's really taking up many pages of Mitt's returns are deductions. I think his true marginal rate of tax is BELOW 15%, which means his income was subject to deductions so that when the 15% tax rate was applied, it was on less than 100% of his reportable income. And THAT will largely be lost on lay people. In other words, the rich get richer because regular folks just want to believe one day they could be rich too and when that day comes they want to pay the least amount of taxes possible--even at the price of paying more in taxes today and possibly forever. And THAT boggles my mind. Tara, I do more estate tax than income tax. And in the estate area, I am always surprised at the number of folks I talk to that are diabolically opposed to an estate tax—especially folks that are never likely to be subject to it because they will never meet the limit (currently $5,120,000 per person or over $10M per married couple). But the idea of striking it big is something folks like to think could happen to themselves. Then possibly having to pay a portion in a death tax (a percentage of just the amount over the exemption limit) is something that downright pisses people off. People that WILL NEVER be subject to it. I think the income tax picture is the same. Ask people if they’d be ok raising the capital gains tax from 15% to, say, 25% (still 10% less than ordinary income) and people, I suspect, will react similarly to the death tax: I *could* one day have more unearned income than earned income and wouldn’t that be nice, oh, and if that happens hell NO I don’t want to pay a higher rate in taxes so let’s just keep the capital gains tax where it is at a low 15%.

And really, this post over-simplifies the full disparity going on. What’s really taking up many pages of Mitt’s returns are deductions. I think his true marginal rate of tax is BELOW 15%, which means his income was subject to deductions so that when the 15% tax rate was applied, it was on less than 100% of his reportable income.

And THAT will largely be lost on lay people. In other words, the rich get richer because regular folks just want to believe one day they could be rich too and when that day comes they want to pay the least amount of taxes possible–even at the price of paying more in taxes today and possibly forever.

And THAT boggles my mind.

]]> Comment on What’s Wrong with Romney’s Tax Returns by Tara R. http://www.nolanotes.com/2012/01/24/whats-wrong-with-romneys-tax-returns/comment-page-1/#comment-8015 Tara R. Tue, 24 Jan 2012 19:54:01 +0000 http://www.nolanotes.com/?p=2891#comment-8015 I would like to think the average American voter would be all for tax reform. Getting elected officials, many like Romney and Palosi who are in the 1%, to pass law that improve equality may be near impossible. To me it's like passing term limits. Every one I have ever talked with has been in favor of limits on Senate and House terms. Will laws like that ever get passed committee? Probably not. I would like to think the average American voter would be all for tax reform. Getting elected officials, many like Romney and Palosi who are in the 1%, to pass law that improve equality may be near impossible.

To me it’s like passing term limits. Every one I have ever talked with has been in favor of limits on Senate and House terms. Will laws like that ever get passed committee? Probably not.
Tara R.´s last [type] ..Demon within

]]> Comment on Dim Sum and Dragons Too by Tara R. http://www.nolanotes.com/2012/01/22/dim-sum-and-dragons-too/comment-page-1/#comment-8010 Tara R. Mon, 23 Jan 2012 14:43:29 +0000 http://www.nolanotes.com/?p=2857#comment-8010 Pigs feet and snails? Probably not happening for me either. The rest of the menu sounds delicious though. Pigs feet and snails? Probably not happening for me either. The rest of the menu sounds delicious though.
Tara R.´s last [type] ..TriMeme

]]> Comment on Red Beans and Rice-ly Yours by Pontchartrain Pete http://www.nolanotes.com/2012/01/19/red-beans-and-ricely-yours/comment-page-1/#comment-8006 Pontchartrain Pete Sat, 21 Jan 2012 03:20:57 +0000 http://www.nolanotes.com/?p=2840#comment-8006 Leah Chase mentioned an interesting thing about red beans. In the days before water heaters, wash day was the only day when they had a fire going all day long to boil water to do the laundry. It wasn't just that they wanted a dish they didn't have to fuss with while working, it was really the only day they could cook something that required a long simmer. The beans would simmer on the back of the stove while the water pot for the clothes got the full blast of heat up front. Passing on knowledge like this is reason number 8,892 why Leah Chase is truly a treasure. Leah Chase mentioned an interesting thing about red beans. In the days before water heaters, wash day was the only day when they had a fire going all day long to boil water to do the laundry. It wasn’t just that they wanted a dish they didn’t have to fuss with while working, it was really the only day they could cook something that required a long simmer. The beans would simmer on the back of the stove while the water pot for the clothes got the full blast of heat up front. Passing on knowledge like this is reason number 8,892 why Leah Chase is truly a treasure.
Pontchartrain Pete´s last [type] ..Creole Turtle Soup.

]]> Comment on Red Beans and Rice-ly Yours by Margaret http://www.nolanotes.com/2012/01/19/red-beans-and-ricely-yours/comment-page-1/#comment-8004 Margaret Sat, 21 Jan 2012 02:32:46 +0000 http://www.nolanotes.com/?p=2840#comment-8004 You are making me homesick. You are making me homesick.

]]> Comment on Creole Turtle Soup by BayouTwinMom http://www.nolanotes.com/2011/12/30/creole-turtle-soup/comment-page-1/#comment-7974 BayouTwinMom Wed, 11 Jan 2012 18:38:04 +0000 http://www.nolanotes.com/?p=2753#comment-7974 I just made a batch of turtles like the ones from McKenzies and I'm so excited to find this post. Thanks! I just made a batch of turtles like the ones from McKenzies and I’m so excited to find this post.

Thanks!

]]> Comment on Creole Turtle Soup by Nola http://www.nolanotes.com/2011/12/30/creole-turtle-soup/comment-page-1/#comment-7967 Nola Tue, 10 Jan 2012 01:09:44 +0000 http://www.nolanotes.com/?p=2753#comment-7967 Joanne, it DOES look a little like liver in these pics--that's the darkness. But not the same texture or taste. Much better--meatier :) Good luck! Betty, gotta say this one rivaled Galatoire's. Though for the cost and effort, G's wins! Joanne, it DOES look a little like liver in these pics–that’s the darkness. But not the same texture or taste. Much better–meatier :) Good luck!

Betty, gotta say this one rivaled Galatoire’s. Though for the cost and effort, G’s wins!

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