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re: Deficits are up. How is this conservatism?
Posted on 3/6/19 at 11:40 am to McLemore
Posted on 3/6/19 at 11:40 am to McLemore
quote:
please define "trickle-down economics" for us before you start attributing hypothetical fandom with respect to the term.
Others used the term to somehow believe that the following would occur:
1) Cut tax rates / taxes owed on current income
2) Companies will take savings and use them to create more revenue, which itself would be taxed
3) Therefore, there would be a net increase in federal tax revenue, not a net decrease. Essentially, as money flows faster through the economy, it gets hit with the tax wand more and more. So even thought the rate is lower, the wand collects more from additional total passes.
1
Posted on 3/6/19 at 12:30 pm to LSUFanHouston
quote:
Others used the term to somehow believe that the following would occur: 1) Cut tax rates / taxes owed on current income 2) Companies will take savings and use them to create more revenue, which itself would be taxed 3) Therefore, there would be a net increase in federal tax revenue, not a net decrease. Essentially, as money flows faster through the economy, it gets hit with the tax wand more and more. So even thought the rate is lower, the wand collects more from additional total passes.
Except that is exactly what occurred...did no one even look at the tax receipts?
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