Interesting: Politics | "Patriotic Millionaires": Raise our taxes | Seattle Times Newspaper I had not heard of this group. Abner
These mostly Democratic and progressive millionaires are welcomed to donate to the federal government to pay down the national debt. If they want to give more money to government, perhaps that is where they should start. Government - Frequently Asked Questions about the Public Debt
Yes I agree. These guys come out wanting more progressive income taxes not as a means to an end but an end in itself.
That article says there are 289,000 people who make a million a year. If all of those people gave up an entire years worth of their salaries (1,000,000 to be exact) we would make a HUGE dent in our US national debt. That would cut out 1.2% of our national debt. Then what do we do next year?
You don't get the point. The liberals don't care about reality. They just want things to be "fair". In their mind, increasing marginal rates is a good thing regardless of the consequences to the economy or tax revenues. They don't understand the Laffer curve nor do they care about it. They tend to look more at the Lorenz curve and find ways to bend it without considering that their best efforts will actually make things worse.
So the best thing to do is to ignore the chart that they like and push the chart that you like. That what unbiased, reality-based people do. Everyone else is brainwashed.
This is not true. You can understand the concept of the Laffer curve and even endorse it while arguing for an increase in marginal tax rates. How? It's simple. If we are on the upward slope of the curve, then raising rates raises revenue. If the Laffer curve theory is correct, then cutting marginal tax rates only increases government revenue if the tax rate is higher than the optimal tax rate. If it's lower, it just lowers revenue.
That video rocks!!!!!!!!!!!!!!! I had it turned up as I am getting ready for work!!!!!!!!!! Loved it! :banana: Abner :smile: :smile:
The big problem with the Laffer curve is determine where the country is on the curve. Thats the rub. Liberals would tend to think that they are on the opposite end of the curve versus conservatives. So I guess we can all agree that overtaxation decreases taxable revenues and undertaxation does as well, however there is a sweet spot to be found. I would also argue that just because you can milk a lot of money out of the people doesn't mean that its a good idea to do so. Government spending on entitlements is growing at an unsustainable pace and even if all military spending was cut, we would still be on the road to ruin in the next 20-30 years.
Was it you who said in another thread (another site?) that liberals' response to every problem is to create a government agency for it? There is little in politics that is straight-forward and true, but that statement hits the nail on the head exactly. Most of their policies include ignoring the problem altogether, or claiming that the problem is completely unavoidable biologically, socially, psychologically, etc, that people can not be held culpable for their own actions* and all that can be done is to engage in exorbitantly expensive damage control. *Buying Starbucks daily yet somehow not being able to afford a $50/course increase in college tuition? Sheesh.
Here is a famous Pelosi quote which proves that she doesn't actually care about people having jobs. Its more about creating a permanent power base reliant on the feds for their very existence. "First Bush cut taxes for the rich and the economy has rebounded with new record low unemployment rates, which only means wealthy employers are getting even wealthier at the expense of the underpaid working class."
