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| *Loan,banking and credit>>>income tax |
Libs, do you believe there is an inverse relationship between income tax rates and the tax base? |
And if not, WHY? How could we remove move capital from the private sector, thus leaving it with less to invest, and not thereby reduce its earnings on its invested capital? Isn't that like saying you can take seeds away from the farmer in Spring and that won't reduce his harvest in Fall? using the farmer metaphor again.... If taking seeds away is taxation, then the Gov must already be taking seeds away鈥?and the farmer is doing great now in your opinion. Suppose the Gov takes a few more seeds away, making sure to leave him with still plenty of seeds. Sure the farmer is not doing as great as he was last year, but he still has plenty of seeds for this year, and by this time next year if all goes well enough, he鈥檒l have more seeds than he did this year. The out-sourcing of jobs is the real culprit here. As the jobs are taken away, the tax base shrinks, thus the need to raise rates to fund programs. If shifting taxes to the rich and creating social programs for the working/middle class did indeed lower economic growth, you would see that in the historical economic data for real GDP, inflation adjusted median income, etc. Now. You know that the it does indeed show the opposite and you have come up with EXCUSES of why that is. These are EXCUSES because when one person has to come up with reasons for why his theories are wrong most of the time, they are EXCUSES, not explanations. Good question. Can you explain why this country experienced its biggest economic boon,in the 1950's,under a Republican President,Dwight Eisenhower,with the highest tax rate in the history of the nation? This seems to lay the lie to wingers assertions that you can pay for anything,including the most expensive war in all of history,without taxation. Oh,you just borrow way past your ability to repay from the Communist Chinese.Sweet..... Deficits caused from not taking in enough revenue has an even greater effect on private sector growth because of the crowding-out effect on interest rates. That is the true source of capital in this country. Tax cuts mainly end up having demand-side effects and likely will not be invested at all. *** And yes, I know you're one of 4 people in the world that believe in the supply-side doctrine about tax cuts causing increased revenues. Fortunately, 99% of economists, including many of the original supply siders, don't. |
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