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re: Trump considering raising top marginal income rates to 40%?
Posted on 4/5/25 at 9:27 pm to Powerman
Posted on 4/5/25 at 9:27 pm to Powerman
Screw that.....lower taxes for everybody and businesses too!
The tax revenue will grow as the business climate improves!
When more people have more "discretionary income".......that is when the economy booms! And you do that by lower taxes, and lower interest rates.
Trumponomics!!!!!!!!
The tax revenue will grow as the business climate improves!
When more people have more "discretionary income".......that is when the economy booms! And you do that by lower taxes, and lower interest rates.
Trumponomics!!!!!!!!
Posted on 4/6/25 at 7:29 am to Powerman
quote:
Year over year revenues usually increase.
I agree with you that it’s not a mathematical axiom, but that’s not the bar I have to clear when arguing against “That’s not what happened”. It is what happened. We cut taxes and revenues increased. And they increased at a brisk pace. Critics were saying revenues would decrease, and they were basing that on the Congresional Budget Office scoring which was static. Laffer was primarily arguing against that static scoring and saying that tax cuts will stimulate the economy and the growth in the economy will yield more revenue at the lower rates. He was correct, and the CBO scoring was wrong.
The point of tax cuts is to relieve citizens of a burden. At some point of the curve that seems to be able to be done with no costs to society. We’ll never be able to prove that, because it involves human behavior, and that can’t be quantified; it can only be estimated based on empirical data.
The Laffer argument came into disrepute because the Republicans kept citing it at ever-decreasing marginal tax rates.
quote:
There are examples where taxes go up and revenues go up year over year. What's your brilliant explanation for that?
Probably the same as yours? Why the insult?
This post was edited on 4/6/25 at 7:31 am
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