Perhaps you have an empirical study that does show a statistically significant link between marginal rates and GDP growth?
If the marginal rate is 100% how much growth do you think we’d have?
Is it just a coincidence that marginal rates dropped in the 60’s and 70’s and the economy boomed?
do these studies include government regulation and inflation as taxes?
It’s not nonsense
Perhaps you have an empirical study that does show a statistically significant link between marginal rates and GDP growth
Don’t need a study. Just need to know several small business owners, which I do. When the Government taxes them less, they all expand their business, number of employees or increase their employees compensation. When Government taxes them, they contract their business, for go raise for the employees in order to keep them employed and cut other benifits.
Hmmmm.... Investor’s Business Daily and (apparently) even White House Data would disagree with you. But what does IBD know?
And as seen on FR.
And for those watching but don’t want to follow the links, here’s the money quote:
Based on Bush fiscal policies, the nonpartisan Congressional Budget Office projected budget deficits of 0.7% to 1.5% of GDP for the years 2008 through 2011. The CBO even predicted surpluses for the subsequent years through 2018.
Laffer Curve? ever heard of it?
Also a recession or what we have now (slow GDP growth) is
when economic activity contracts because of risk aversion among other things,
Why risk money to make money if its going to be confiscated
The chart you want is probably out there somewhere, but most of this is common sense