We can think about how we reduce the pain in paying. So, for example, credit cards are wonderful mechanisms to reduce the pain of paying. If you go to a restaurant and you are paying cash, you would feel much worse than if you were paying with credit card. Why? You know the price, there's no surprise, but if you're paying cash, you feel a bit more guilt.
I'm making a lot of money. I should be paying a lot more taxes. I'm not paying taxes at a rate that is even close to what people were paying under Eisenhower. Do people think America wasn't ascendant and wasn't an upwardly mobile society under Eisenhower in the '50s? Nobody was looking at the country then and thinking to themselves, "We're taxing ourselves into oblivion." Yet there isn't a politician with balls enough to tell that truth because the whole system has been muddied by the rich. It's been purchased.
The single biggest stimulus to the economy are the unemployment benefits we're paying. These people go out and they spend the money. They go out and they have to get by to everything from paying their mortgage or buying food or just getting by. It has a significant impact on economic growth and the continuation of economic growth.
You're a superhero. Shut up and enjoy having superpowers. This makes me crazy. This is why the Marvel movies kick DC movies' asses right and left. Because, I'm not paying $15 for a movie to go watch people being morose about lives that are much more interesting and exciting than mine and they hate them. I'm paying my money to see people sort of revel in doing things that I can't do.
We live in a world with "free" content, and this freedom is not an imperfection. We listen to the radio without paying for the songs we hear; we hear friends humming tunes that they have not licensed. We tell jokes that reference movie plots without the permission of the directors. We read our children books, borrowed from a library, without paying the original copyright holder for the performance rights.
[The internet has] already had a huge impact in the sports world, and the play-by-play guys that are not paying attention to it are losing out. They're losing out on getting the real pulse of a game that they're covering. My point with blogs and with podcasts is that it can't be the basis of your prep work, there has to be much more. We understand that. But, it has to be at least a part of what you're doing. If you're not paying attention to it, then you're not seeing the full picture.
I've said repeatedly publicly, and other members have, that until you adjust the eligibility for entitlements, do things like raising the age for Medicare for future beneficiaries. Not for those currently receiving or those about to receive. Have serious means testing for high income people. You know Warren Buffett's always complaining about not paying enough taxes. And what I'm complaining about is we're paying for his Medicare. We ought not to be providing these kinds of benefits for millionaires and billionaires.
The thing that surprised me the most is just how much money women that weren't rich were paying for their hair. When you're in a beauty parlor in Harlem next to abandoned buildings and somebody's paying five grand for a weave, that's a bit much. I think this is, in a weird way, part of the health care debate. It's like, hmm, there's people with $2000 weaves that could have bought health care with that weave money.
There's only one thing worse than not paying attention to girls in gangs - it's paying attention to girls in gangs. The public reaction to girls and women who engage in nontraditional behavior - the hysteria that often surrounds girls in these groups - is almost as interesting as the behavior itself.
If you want to spend more money in restaurants, use credit cards more than cash. If you want to spend less, use cash more than credit cards. But in general, we can think about how to use the pain of paying and how much of it do we want. And I think we have like a range. Credit cards have very little pain of paying, debit cards have a little bit more because you feel like today, at least it is coming out of your checking account, and cash has much more.
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