Page 7 of 7 FirstFirst ... 567
Results 61 to 62 of 62

Thread: Senate blocks Obama's tax plan

  1. #61
    Banned
    Join Date
    Dec 2010
    Location
    Perth, Western Australia
    Last Seen
    10-15-12 @ 02:04 AM
    Gender
    Lean
    Independent
    Posts
    523

    Re: Senate blocks Obama's tax plan

    Quote Originally Posted by Article
    Whether to extend the Bush tax cuts, which expire on Dec. 31, is one of the most controversial political issues facing lawmakers. It pits the government's need to increase revenue by raising taxes against concerns that tax hikes could hurt the shaky economy.
    Does this make it a bad source or something?

  2. #62
    Sage
    cpwill's Avatar
    Join Date
    Dec 2009
    Location
    USofA
    Last Seen
    Today @ 09:12 PM
    Gender
    Lean
    Conservative
    Posts
    57,038

    Re: Senate blocks Obama's tax plan

    Quote Originally Posted by Eighty Deuce View Post
    I want to believe you know better than this. Tax is not assessed as a percent of GDP. Tax collected may be analyzed that way, and your analysis fails with regard to what is meant by "less is more".
    i think you are mistaken. when presented with rising marginal tax rates, those who are effected realize that they are facing powerful incentives to funnel their compensation and wealth into less-productive venues that nontheless serve as tax shelters. this is why higher rates have historically not seen higher revenues:



    in fact - as you will note when the line approaches the 20 percentile mark above - if anything, the opposite seems to be true, though not to a particularly large degree:



    the notion that we can increase taxes on the rich to solve the deficit is a chimera; these are also the people with the most incentive and greatest ability to protect their income from taxation. what we have is not a revenue problem, it is a spending problem. get government spending below that 18% of GDP so that we can pay down debt, and keep tax rates low so that the raw amount represented by 18% of GDP grows more rapidly, and we'll be good.

Page 7 of 7 FirstFirst ... 567

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •