DisconnectedFromReality
Only the sound Of the cold northern breeze
Fuck you beat me to it.How does a non-inflation adjusted table of total federal debt relate in any meaningful way to a discussion on 90% tax rates and the Laffer curve?
Fuck you beat me to it.How does a non-inflation adjusted table of total federal debt relate in any meaningful way to a discussion on 90% tax rates and the Laffer curve?
How does a non-inflation adjusted table of total federal debt relate in any meaningful way to a discussion on 90% tax rates and the Laffer curve?
None of this addresses how the laffer curve is wrong about a 90% tax FYI.inflation isn't that severe. As you can see, the national deficit shot into the trillions following Reagan era tax policy
you're deluded if you think inflation caused the deficit shot up around 100% in five years due to inflation
None of this addresses how the laffer curve is wrong about a 90% tax FYI.
inflation isn't that severe. As you can see, the national deficit shot into the trillions following Reagan era tax policy
The irony is that you've incorrectly contextualized them. You've attributed something incorrectly to an action.The laffer curve works both ways so I was just emphasizing that we have evidence that once the the 90% tax rates were phased out the national deficit sky rocketed. It just so happens that it acts much more severely to reductions than to hikes. The numbers are there, you just need to contextualize them.
The laffer curve works both ways so I was just emphasizing that we have evidence that once the the 90% tax rates were phased out the national deficit sky rocketed. It just so happens that it acts much more severely to reductions than to hikes. The numbers are there, you just need to contextualize them.
Kennedy cut the 90% tax bracket first. Obviously if you take a balanced budget, cut taxes and increase spending, you end up with a deficit, which with time turns into a substantial national debt. That doesn't say anything about the necessity of a 90% tax bracket today, let alone the viability in a world where dozens of industrialized nations compete with one another.
The irony is that you've incorrectly contextualized them. You've attributed something incorrectly to an action.
I mean it just depends where you apply that 90%. I sure as fuck wouldn't that to be the corporate tax rate nor would I want it to be set at too low of a level. The simple fact is America won't remain competitive if we allow education and environmental subsidies to be slashed as they always are first when the deficit worsens.
How so? Reagan lowered taxes and the deficit doubled.
edit: the laffer curve also assumes a single bracket model
I'm not anti-environmental protection but it's usually a direct trade-off between that and trade/economic productivity.
The emerging markets for alternative energies is the next cash cow imo. Not putting on emphasis on it would be missing out
My fault about education btw. That issue is more about fund allocation.
This is partially true but not entirely.
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There was a dip in overall tax revenue due to Reagan's tax cuts but that wasn't everything. It barely even registers beyond noise in the grand scheme of things. Increasing spending in the military contributed a lot as well.
There is merit in subsidizing alternative energy, but from an R&D and environmental perspective, not a profit-motive one.
I would hardly call a doubling of the deficit in five years "noise". The Laffer curve is riddled with flawed underlying assumptions regardless. Each party thinks it's on the favorable part of inflection.
I was referring to the dip in tax revenue as noise per that chart, meaning as a percentage of the GDP, it did not deviate that significantly from the average.
That doubling amounts to roughly $250b a year. Some of that was due to tax cuts, some of that was due to increased government spending. From 1980 to 1988 the federal government went from spending ~$1400b/yr to ~$1700b/yr, averaging an increased $50b/yr in spending per year.
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