Ferrari Mailing List: The error of our ways!

[philville dejazzd.com (philville]

   Why in gods name doesn't the 10th man go play with his rich
   friends....instead of buying his poor friends expensive beer....that
   way the "ninth man " can join the rich guys have 3 bottles of beer for
   $18 and drive home sober the other 8 guys can can wack up the
   remaining $23 buy a case of Bud and some chips play cards and have a
   great tiome with out having to worry about the burden they are placing
   on 9 and 10 .....but then maybe 9 & 10 need the friends.
   
   Thats the way we do it here in the boonies , Phil

   > The first four men (the poorest) would pay nothing.
   > The fifth would pay $1.
   > The sixth would pay $3.
   > The seventh would pay $7.
   > The eighth would pay $12.
   > The ninth would pay $18.
   > The tenth man (the richest) would pay $59.
   ----- Original Message -----
   From: "Hans E. Hansen" <FList [at] hanshansen.org>
   Date: Wednesday, November 12, 2008 4:02 pm
   Subject: Re: [Ferrari] Barstool Economics (was RE: Are Ferraris Losing
   Their Good Looks? )
   To: Phil Tegtmeier <philville [at] dejazzd.com>
   Cc: The FerrariList <ferrari [at] ferrarilist.com>
   > Now I'm pissed because all my friends were drinking beer and
   > I wasn't invited.
   >
   > Hans.
   >
   > On Wed, Nov 12, 2008 at 12:20 PM, Steve Cook
   > <stevec [at] cheatcodes.com> wrote:
   > >
   > > Suppose that every day, ten men go out for beer and the bill
   > for all ten comes to $100. If they paid their bill the way we
   > pay our taxes, it would go something like this:
   > >
   > > The first four men (the poorest) would pay nothing.
   > > The fifth would pay $1.
   > > The sixth would pay $3.
   > > The seventh would pay $7.
   > > The eighth would pay $12.
   > > The ninth would pay $18.
   > > The tenth man (the richest) would pay $59.
   > >
   > > So, that's what they decided to do. The ten men drank in the
   > bar every day and seemed quite happy with the arrangement, until
   > one day, the owner threw them a curve.
   > >
   > > 'Since you are all such good customers, he said, 'I'm going to
   > reduce the cost of your daily beer by $20. Drinks for the ten
   > now cost just $80.
   > >
   > > The group still wanted to pay their bill the way we pay our
   > taxes so the first four men were unaffected. They would still
   > drink for free. But what about the other six men - the paying
   > customers? How could they divide the $20 windfall so that
   > everyone would get his 'fair share?'
   > >
   > > They realized that $20 divided by six is $3.33. But if they
   > subtracted that from everybody's share, then the fifth man and
   > the sixth man would each end up being paid to drink his beer.
   > So, the bar owner suggested that it would be fair to reduce each
   > man's bill by roughly the same amount, and he proceeded to work
   > out the amounts each should pay.
   > >
   > > And so:
   > >
   > > The fifth man, like the first four, now paid nothing (100%
   savings).
   > > The sixth now paid $2 instead of $3 (33%savings).
   > > The seventh now pay $5 instead of $7 (28%savings).
   > > The eighth now paid $9 instead of $12 (25% savings).
   > > The ninth now paid $14 instead of $18 (22% savings).
   > > The tenth now paid $49 instead of $59 (16% savings).
   > >
   > > Each of the six was better off than before. And the first four
   > continued to drink for free. But once outside the restaurant,
   > the men began to compare their savings.
   > >
   > > 'I only got a dollar out of the $20,'declared the sixth man.
   > He pointed to the tenth man,' but he got $10!'
   > > 'Yeah, that's right,' exclaimed the fifth man. 'I only saved a
   > dollar, too. It's unfair that he got ten times more than I!'
   > > 'That's true!!' shouted the seventh man. 'Why should he get
   > $10 back when I got only two? The wealthy get all the breaks!'
   > > 'Wait a minute,' yelled the first four men in unison. 'We
   > didn't get anything at all.  The system exploits the poor.'
   > >
   > > The nine men surrounded the tenth and beat him up.
   > >
   > > The next night the tenth man didn't show up for drinks, so the
   > nine sat down and had beers without him. But when it came time
   > to pay the bill, they discovered something important. They
   > didn't have enough money between all of them for even half of
   > the bill!
   > >
   > > And that, boys and girls, journalists and college professors,
   > is how our tax system works. The people who pay the highest
   > taxes get the most benefit from a tax reduction. Tax them too
   > much, attack them for being wealthy, and they just may not show
   > up anymore. In fact, they might start drinking overseas where
   > the atmosphere is somewhat friendlier.
   > >
   > > David R. Kamerschen, Ph.D.
   > > Professor of Economics, University of Georgia
   > >
   > > For those who understand, no explanation is needed. For those
   > who do not understand, no explanation is possible
   > > ---------------------------------------------------------------
   > -----------------------------------
   > >
   > > (And by not showing up, it only takes moving things to off-
   > shore accounts - which is entirely legal BTW). I'll put my money
   > to work somewhere where it's appreciated and not stolen.
   > >
   > > -steve
   > >
   > > ---------------------------------------------------------------
   > >
   > >
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   Philip "Phil" Tegtmeier
   39 Churchill Drive
   Elverson Pa 19520
   610.525.8949
   And, go to: ... www.PhilvilleUSA.com