Headline should read: “Because of Tax Increase, Tax Revenues Fall”
This is one point that the old-school democrats and republicans could agree on, that if you lower the tax rate, you’ll increase tax revenues. JFK proved this. Reagan proved this.
This is the point of the Laffer curve, that the tax rate has a peak where it will cease to result in higher tax revenue, once you reach that peak, if you raise the tax rates higher, revenue will fall off as the workers and producers will take offense at being robbed and will have a vested interested in finding ways to hide their money and protect their earnings.
We must now assume that the politicians who seek to raise the tax rates know this to be an undeniable truth and that they are raising the tax rates not (as they claim) to increase tax revenue, but to punish the workers and producers.
Again, their end goal is to perform a Trayvon type smashing of the head of their opponents into the sidewalk, spitting in our face as they crush our skulls saying, “Don’t you ever...EVER deny me the power to do whatever I want. You deserve to be punished. And I’m going to punish you until you wish you’d been born and raised in the poverty of a third-world country, which is what we are going to turn America into.”
That's also called the point of diminishing returns.
The goal is to wreck the American economy. Hopefully, permenantly.
Why Romney didn’t point to Illinois and specifically Cook County as proof of Obama’s plan I’ll never know.
Obama is bringing not only Cook County politics, but Cook County economics to the national level.
It’s stupid and we conservatives better find our Reagan, stat.