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Thread: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by Conservative View Post
    Obviously you have no understanding of human behavior. Please explain the following.

    Millionaires Go Missing - WSJ.com
    Nope. Different issue and different question. But keep trying.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by Conservative View Post
    Obviously you have no understanding of human behavior. Please explain the following.

    Millionaires Go Missing - WSJ.com
    What a quality opinion piece

    From the article:
    One year later, nobody's grinning. One-third of the millionaires have disappeared from Maryland tax rolls. In 2008 roughly 3,000 million-dollar income tax returns were filed by the end of April. This year there were 2,000, which the state comptroller's office concedes is a "substantial decline." On those missing returns, the government collects 6.25% of nothing. Instead of the state coffers gaining the extra $106 million the politicians predicted, millionaires paid $100 million less in taxes than they did last year -- even at higher rates.
    What i find the most interesting is that the writer of this piece is operating on the assumption that incomes have remained constant in from 2008 until 2009. Using that logic (flawed), it would seem that these people have simply moved away. However, the truth of the matter is that during financial recessions such as these, incomes tend to fall (even for those making over $1 million annually).

    So is this a case of people moving out of the state to avoid the income tax? Possibly, but i have little faith in the rate of change described by the author (1000 people earning a million dollars or more left the state). I can accept that people had a decrease in bonuses, and businesses had a decrease in clientele (i wonder how many businesses failed in Maryland during 2009). So how many people earning $1 million or more a year left the state? The author does not tell, and therefore it is impossible to conclude that this tax caused people to leave.

    To say that this state income tax was the cause (as opposed to a recession) of lower incomes is invalid.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  3. #233
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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by Boo Radley View Post
    Nope. Different issue and different question. But keep trying.
    LOL, different issue? Wrong, it is the issue, human behavior! Rich people will eventually stop paying for the services of the 47% of the people who don't pay any income taxes. They will move and then where does the revenue come from?

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by Conservative View Post
    LOL, different issue? Wrong, it is the issue, human behavior! Rich people will eventually stop paying for the services of the 47% of the people who don't pay any income taxes. They will move and then where does the revenue come from?
    As noted above, that opinion piece doesn't address human behavior in the slightest. You and the author are making an unproven assumption, a habit I notice in a lot of your arguments.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by Goldenboy219 View Post
    What a quality opinion piece

    From the article:


    What i find the most interesting is that the writer of this piece is operating on the assumption that incomes have remained constant in from 2008 until 2009. Using that logic (flawed), it would seem that these people have simply moved away. However, the truth of the matter is that during financial recessions such as these, incomes tend to fall (even for those making over $1 million annually).

    So is this a case of people moving out of the state to avoid the income tax? Possibly, but i have little faith in the rate of change described by the author (1000 people earning a million dollars or more left the state). I can accept that people had a decrease in bonuses, and businesses had a decrease in clientele (i wonder how many businesses failed in Maryland during 2009). So how many people earning $1 million or more a year left the state? The author does not tell, and therefore it is impossible to conclude that this tax caused people to leave.

    To say that this state income tax was the cause (as opposed to a recession) of lower incomes is invalid.
    That is your opinion which you are entitled to but that opinion ignores human behavior. NY just implemented the same program and tax revenue dropped. Tax revenue dropped in Maryland as well in the upper income brackets. Liberals like you have a problem, you use textbook rhetoric trying to trump human behavior. Never going to work but it does make you look foolish.

    http://online.wsj.com/article/SB124260067214828295.html
    Last edited by Conservative; 09-24-10 at 04:30 PM. Reason: Content

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by Boo Radley View Post
    As noted above, that opinion piece doesn't address human behavior in the slightest. You and the author are making an unproven assumption, a habit I notice in a lot of your arguments.
    People are mobile and in today's technological world can operate everywhere else. There is a reason that TX has created more jobs this past year than the rest of the states combined and it has everything to do with tax policy. The WSJ gets it right

    Soak the Rich, Lose the Rich - WSJ.com

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by Conservative View Post
    People are mobile and in today's technological world can operate everywhere else. There is a reason that TX has created more jobs this past year than the rest of the states combined and it has everything to do with tax policy. The WSJ gets it right

    Soak the Rich, Lose the Rich - WSJ.com
    I thought you said Flordia has no taxes. Why are they leading?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by Boo Radley View Post
    I thought you said Flordia has no taxes. Why are they leading?
    Florida doesn't have any state income taxes so who said they were leaving Florida?

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by Conservative View Post
    Florida doesn't have any state income taxes so who said they were leaving Florida?
    Keep up. Ahead of texas in creating jobs? And are there no other variables in job creation than state taxes? I suspect once again a conclusion has failed to measure all variables and thus have leapt to anither false concl=usion.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by Boo Radley View Post
    Keep up. Ahead of texas in creating jobs? And are there no other variables in job creation than state taxes? I suspect once again a conclusion has failed to measure all variables and thus have leapt to anither false concl=usion.
    You really are naive and a waste of time. Facts always get in the way of your opinions which are formed from reading liberal elite economist articles. Facts, logic, and common sense have no place in your world. Human behavior trumps liberal rhetoric all the time

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