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Started By
Message
Tax revenues up after largest tax hike in U.S. history.
Posted on 8/16/14 at 8:27 am
Posted on 8/16/14 at 8:27 am
1. ObamaCare was the LARGEST TAX HIKE IN U.S. HISTORY (FOX News).
2. Tax revenues are at record highs.
3. Tax hikes reduce tax revenues.
Which of the above 3 is false ?
2. Tax revenues are at record highs.
3. Tax hikes reduce tax revenues.
Which of the above 3 is false ?
10
Posted on 8/16/14 at 8:40 am to SpidermanTUba
Posted on 8/16/14 at 8:43 am to SpidermanTUba
Whoopee! And concurrent with the worst *recovery* after a recession, in history. And a *recovery* that was supported not by a real economy...but by QE at a rate of 70B per month.
Bonuses to corrupt IRS officials who take selfies with champagne while in a hot tub. Bonuses to VA bureaucrats who - in effect - MURDER sick vets who are wiped off the appointment list. Half the populous on Food Stamps, and many who are working, are working for less. Gas was $1.87 when Bush left. Milk was $2.69. Good grief.
Yeah...tax revenues are up. What a great thing to celebrate!
Bonuses to corrupt IRS officials who take selfies with champagne while in a hot tub. Bonuses to VA bureaucrats who - in effect - MURDER sick vets who are wiped off the appointment list. Half the populous on Food Stamps, and many who are working, are working for less. Gas was $1.87 when Bush left. Milk was $2.69. Good grief.
Yeah...tax revenues are up. What a great thing to celebrate!
Posted on 8/16/14 at 8:55 am to RCDfan1950
quote:
by QE at a rate of 70B per month
FFS stahp
Posted on 8/16/14 at 9:15 am to SpidermanTUba
Tax hikes lead to lower revenues over the long term due to companies going overseas and lower consumer spending due to people having less money.
Short term it will increase revenues. If takes time to have a negative effect.
I don't know how you idiots don't understand that. It further baffles me that you think it's a good thing when Govt gets more of our money
Short term it will increase revenues. If takes time to have a negative effect.
I don't know how you idiots don't understand that. It further baffles me that you think it's a good thing when Govt gets more of our money
Posted on 8/16/14 at 9:17 am to SpidermanTUba
You won't get a straightforward answer to that question. Just derision and ridicule for going against the 'hate all things Obama' narrative
Posted on 8/16/14 at 9:18 am to deltaland
quote:
Tax hikes lead to lower revenues over the long term due to companies going overseas and lower consumer spending due to people having less money. Short term it will increase revenues. If takes time to have a negative effect. I don't know how you idiots don't understand that. It further baffles me that you think it's a good thing when Govt gets more of our money
Here here!
But...
Why don't you answer the question, there is a false statement in the three mentioned, it would help your argument
This post was edited on 8/16/14 at 9:20 am
Posted on 8/16/14 at 9:22 am to SpidermanTUba
The bottom line is that this economy would be roaring with fiscally conservative president and congress.
Instead we have below average growth. That a grade level "D". Nice to see that you approve of these high standards.
Oh, and since when is record level of theft of the citizens labor by the federal government a good thing?
Instead we have below average growth. That a grade level "D". Nice to see that you approve of these high standards.
Oh, and since when is record level of theft of the citizens labor by the federal government a good thing?
Posted on 8/16/14 at 9:30 am to deltaland
quote:
Tax hikes lead to lower revenues over the long term due to companies going overseas and lower consumer spending due to people having less money.
IIRC, the president and his minions have been beating this drum lately, the companies going overseas to avoid taxes.
Hmm, I wonder why they are concerned?
Posted on 8/16/14 at 9:32 am to SpidermanTUba
You under the impression obamacare penalties are being paid already?
Ignorance at its finest.
Ignorance at its finest.
Posted on 8/16/14 at 9:33 am to EthanL
Ignorance part two. Way to take the chance to insult the board, without knowing what you are talking about
Posted on 8/16/14 at 10:40 am to BBONDS25
quote:
Ignorance part two. Way to take the chance to insult the board, without knowing what you are talking about
Ok. I bow to your vast storehouse of knowledge and wisdom! After all, you are a lawyer in a family of Physicians. Shite, y'all know everything there is to know!
Now that we got that out the way, answer the question Matlock: Did Tuba make a false statement...out of three?
The entire board awaits your answer, or whatever 'pearls of wisdom' you have to offer
Posted on 8/16/14 at 11:01 am to EthanL
The problem with the op is the tax cuts Bush made also recorded record highs. What the op overlooked is that even with record high tax revenues, short term or not, the government is still running deficits.
Posted on 8/16/14 at 11:12 am to EthanL
quote:Not necessarily.
Now that we got that out the way, answer the question Matlock: Did Tuba make a false statement...out of three?
Which statement did you take as unequivocally false.
Posted on 8/16/14 at 11:17 am to NC_Tigah
Keep watching
Posted on 8/16/14 at 11:21 am to NC_Tigah
quote:
Which statement did you take as unequivocally false.
That's easy. It's too bad that the self-proclaimed tax-expert, BBONDS, ran away from the discussion.
Anywho, Obamacare is not the largest tax hike in U.S history. Unless we are going to be extremely disingenuous about this and not take into account inflation, the ACA doesn't even come close to being the 'largest tax hike in U.S. history'.
And that explains why #3, for all of you true-believers out there, remains true.
Posted on 8/16/14 at 11:27 am to Rawdawgs
quote:
Keep watching
Yep, esp if the Fed stops injecting. Record low Participation rates, Falling disposable income, Companies getting the hell out...its all going to be fine...
Posted on 8/16/14 at 11:29 am to EthanL
quote:
And that explains why #3, for all of you true-believers out there, remains true.
I don't follow. Certainly all 3 could be true, depending on Laffer specifics. But it has little to do with the ACA.
Posted on 8/16/14 at 11:45 am to SpidermanTUba
quote:
SpidermanTUba
You know how you global warming folks like to make the weather vs. climate argument when we have record cold temperatures? It's the argument of immediate results vs long-term trends, right?
It's pretty much the same with taxes and revenues.
No one here has ever said raising taxes will not bring in higher revenues in the short-term, quite the opposite. In the long-term though, revenues will decrease.
Now let's look at the more climate-y picture... Next year interest rates are slated to increase. Wall Street has been going gang-busters over the past few years on all the free (or nearly free) credit crack and now that supply is about to shrink a little. What do you think will happen?
The market is going to contract just from that alone. There will also be contraction from businesses now avoiding higher taxes. This means Unemployment will either stagnate at ~6% or begin to creep up. Labor Participation Rate will absolutely increase.
So... yeah. Enjoy the weather while it lasts.
Posted on 8/16/14 at 11:51 am to SpidermanTUba
They are all false.
Statement 1 is false because you were not specific in the terms of measurement. If I choose to measure the tax hike in terms of percentage increase over prior year, then the Obamacare tax increase was not the largest in U.S. history.
Statement 2 is false since I can choose to measure tax revenue as a percentage of GDP.
Statement 3 is false because it is an absolute statement with poorly defined terms. One possible definition of tax hikes is increase in tax revenues, as I believe you intended the term to mean in statement 1. Stating that increases in tax revenues reduce tax revenues is obviously false, and not even you are stupid enough to have posed that as the intended answer to your question.
If you were using a different definition for tax hikes in statement 3, i.e. tax rate increases, then statement 3 is false only because you made it an absolute . Tax rate increases can have a variety of effects on tax revenues. They can result in increases to tax revenues, no change to tax revenues or reductions in tax revenue depending on their effect on the tax base.
Statement 1 is false because you were not specific in the terms of measurement. If I choose to measure the tax hike in terms of percentage increase over prior year, then the Obamacare tax increase was not the largest in U.S. history.
Statement 2 is false since I can choose to measure tax revenue as a percentage of GDP.
Statement 3 is false because it is an absolute statement with poorly defined terms. One possible definition of tax hikes is increase in tax revenues, as I believe you intended the term to mean in statement 1. Stating that increases in tax revenues reduce tax revenues is obviously false, and not even you are stupid enough to have posed that as the intended answer to your question.
If you were using a different definition for tax hikes in statement 3, i.e. tax rate increases, then statement 3 is false only because you made it an absolute . Tax rate increases can have a variety of effects on tax revenues. They can result in increases to tax revenues, no change to tax revenues or reductions in tax revenue depending on their effect on the tax base.
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