06-19-2008, 09:11 PM | #31 | |
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"the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses." what this means is that economics is a about incentives. What are the incentives for a party to act in the way they do. What incentives happen when higher taxes on richest are enforced? What they do is create a backward bending curve just like the one you posted here. rich people decide only to make enough money that their time isnt worth paying most of it to the government. Archae is right... we need a president who will cut back costs not try and raise revenue.
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06-19-2008, 09:41 PM | #32 | |
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there are many reasons why this is so. some rich work more to recover their taxed-away income. there are also other forces at work. when tax cuts drive up the deficit, heavy govt borrowing will kick up interest rates, and which ultimately is a tax
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太初有道 Last edited by ChinoCoug; 06-19-2008 at 09:46 PM. |
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06-19-2008, 09:46 PM | #33 | |
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Soaking the rich has always been an amateur solution to economic troubles.
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06-19-2008, 09:48 PM | #34 | |
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06-19-2008, 09:54 PM | #35 | ||
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Second, no matter how many shenanigans they use, it hardly affects how much they work and produce. Quote:
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太初有道 Last edited by ChinoCoug; 06-19-2008 at 09:56 PM. Reason: forgot link |
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06-19-2008, 10:02 PM | #36 | |
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You're not going to convince me that raising taxes doesn't correspond to a change in behavior, no matter how many Harvard studies you cite. Tax receipts have also been shown to increase when taxes are cut and new growth is stimulated. So what's your point?
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06-19-2008, 10:03 PM | #37 | |
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06-19-2008, 10:09 PM | #38 | ||
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JFK's cuts recovered only 1/3 of the revenue. Reagan's man says Reagan's tax cuts only recovered 1/4 of the revenue.
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06-19-2008, 10:18 PM | #39 | |
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An honest question, as I have no idea.
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06-19-2008, 10:35 PM | #40 |
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Well, no surprise there. I don't expect the rich to just sit on the couch and relax when taxes go up. I simply dispute that they don't find new ways to prevent the feds from getting their money. Perhaps before a tax increase they had planned to sink money into R&D for product X ... but now that product X is being taxed, they elect for product Y. Or worse, they choose not to develop a new product at all.
One could just as easily say that increased tax receipts after a tax hike are unrelated to the tax hike. And tax cuts may assist in coming out of a recession, thus making them an indirect cause of increased receipts.
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