Links: Trump's coattails, flipping the Senate and corporate tax rates

Links: Trump's coattails, flipping the Senate and corporate tax rates 

In 2012, 3 rabid Tea Partiers went down to defeat in Senate races - one against Harry Reid. The best way to flip the Senate to the Dems is to give money to Trump supporters. Of course, Trump may be in a correctional treatment facility (for criminally insane) or his eternal resting place by 2022 (or 2024). He may be bankrupt next week. This kind of takes the shine off his brand.

Zucman and Wezerek's tax reform would legitimize speculative wealth. Wealth and liquidity are not the same thing - and much of wealth is a mirage. To get at luxury spending, a value added tax is a better bet. If the subject reform also includes higher family income payments (child tax credit) paid through other benefits, employers or the IRS directly (the current method), the system would not be regressive. To get at wealth, salary surtaxes and an asset value added tax (with no exception for mutual funds) will do a much better job than a wealth tax.

There are many ways to slice America into political or social tribes based on both wealth and culture/race/class. Authoritarianism is a lot more popular than you think. Many people who identify as libertarian are actually the former. If money buys your obedience or the obedience of others, you are an authoritarian. Authoritarians who are also in the working class (bottom 3rd of total adjusted gross income) generally vote GOP or Dem based on ethnicity. Working class AGI is about $3Trillion total. 

The middle class (from 6% to 20% - income up to $85,000 AGI)  They get $4.5T. They are hardly decadent and split their votes - although this time they voted for Joe. The upper class get the top $4 Trillion. They are mostly white and they split their votes. Only to top 0.1% is entitled this is the line where more than half of income is from not-working. Rich authoritarians are in both parties, although many in the middle and upper class are more motivated by duty (hierarchists) or creativity (libertarians) than obedience. Rich egalitarians usually have trust funds.

I went to a American U., a top 10 school of Public Administration (my year we were #4 for MPA programs). I worked for my money and was paid to go - any debt I held was because stipends were inadequate to pay all expenses. Scholarship and most loan students do not feel entitled. That would be those who are rich - and being rich is all about luck, not merit.

To dis meritocracy while dishing on Prada is the very essence of cognitive dissonance.