re: Trump considering raising top marginal income rates to 40%?

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What I read is the plan will add 5.7 trillion of debt over a decade. Which is a deficit under 600 billion a year. Which would be a great improvement and more manageable if we have low interest rates and good gdp growth

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You severely misinterpreted the statement it appears. It is not saying that we will only have a 5.7 trillion dollar cumulative deficit over the next 10 years. It's saying we will have an additional 5.7 trillion deficit on top of predicted deficits.

Yeah, they always word shite that way so those not paying attention take the exactly wrong view.

"They're saving money!"


No, not at all.

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I've always thought that people like Gates and Buffet that complain about the wealthy not being taxed enough should be sending checks to the treasury. No one is stopping them from voluntarily paying more.

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Bogus argument, powerman. It is not hypocrisy to wish oneself taxed as part of a large class, but to take advantage of low taxes that exist.

Look at it this way. If my taxes go up $10,000 as part of an across the board tax hike that I support, and it raises $300 billion dollars, then my rational is that a personal hit of $10,000 is worth it to me if the result is $300 billion to the treasury. But if there is no tax hike, then to donate $10,000 requires a rational that my personal hit of $10,000 is worth it to me because the treasury gets $10,000. That is a very different rational, and it is not hypocrisy to support the former and not the latter.

If we’re trying to recreate the mid century prosperity with manufacturing then we might as well have a 50%+ marginal rate on the top of the tax bracket too. Gonna need that money to subsidize all the domestic manufacturing build out.

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Look up “laffer curve”

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Hasn't actually proven to be correct though

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Hasn't actually proven to be correct though

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True, but flippantly saying “might as well raise the top rate, we’re going to need that money” is from a place of ignorance. I simply asked him to do some basic research.

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But the Laffer curve is just orthodoxy that supply siders parrot

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Meh. Receipts went up after the last tax cuts. It’s not some unknown concept and is widely accepted.

I was being sarcastic about the MAGA obsession of bringing America back to 1950s. I have no genuine comment on taxation because there are a ton of variables I am not even going to feign to be ready to parse through right now.

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Sure it has.

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It's not a mathematical axiom

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The Laffer curve was presented to Reagan to show that WHEN INCOME TAXES ARE HIGH ENOUGH a reduction in the rates will yield increased revenues

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OK no shite

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And that’s just what happened when Reagan cut taxes; the revenues poured in faster than anything, except our ability to increase spending.

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Year over year revenues usually increase. There are examples where taxes go up and revenues go up year over year. What's your brilliant explanation for that?

You're right. I should have started another tariff thread

Or one of the many daily rage bait threads