KSUFans Archives
Fan Life => The Endzone Dive => Topic started by: AzCat on May 21, 2008, 12:52:17 AM
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Pay attention lefties:
Hauser's Law: You can't soak the rich (http://online.wsj.com/article/SB121124460502305693.html?mod=opinion_main_commentaries).
(http://s.wsj.net/public/resources/images/ED-AH556B_ranso_20080519194014.gif)
Key takeaway:
The data show that the tax yield has been independent of marginal tax rates over this period, but tax revenue is directly proportional to GDP. So if we want to increase tax revenue, we need to increase GDP.
What happens if we instead raise tax rates? Economists of all persuasions accept that a tax rate hike will reduce GDP, in which case Hauser's Law says it will also lower tax revenue. That's a highly inconvenient truth for redistributive tax policy, and it flies in the face of deeply felt beliefs about social justice. It would surely be unpopular today with those presidential candidates who plan to raise tax rates on the rich – if they knew about it.
So the question for lefties becomes, "Do you just hate and wish to punish success or are you truly interested in what actually works?"
:billypopcorn:
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At least Arthur Laffer lived long enough to see his vindication ... though I doubt he needed any extrinsic proof.
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I personally enjoy punishing success and hate all those more successful than I.
I also bathe in the blood and sweat of the rich while suckling from the teat of the righteous.
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I personally enjoy punishing success and hate all those more successful than I.
I also bathe in the blood and sweat of the rich while suckling from the teat of the righteous.
I can respect that; I have no problem at all with honest lefties.
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(http://smiliesftw.com/x/motherland.gif)
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(http://smiliesftw.com/x/motherland.gif)
hahahahaha :)
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Here's the thing that your chart doesn't address....it doesn't articulate that the premise of increasing tax rates for the wealthy is NOT to increase overall tax yield. Instead, it is to offset the tax rate of the poor. It's a trade off.
Attacking disparate tax rates with this kind of argument is useless, and completely misses the point. It isn't even about the dreaded "redistribution of wealth."
You either believe in the "social contract," or you don't. I respect the flat tax folks, because their argument is based on equity, and dispenses with all the voodoo bullcrap.
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So a a negative tax rate would really kick up revenues!
FREE MONEY BITCHES!
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So a a negative tax rate would really kick up revenues!
FREE MONEY BITCHES!
Woot! :runaway: