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You Can't Soak the Rich[No Matter the Tax Rate, Tax Revenues Remained about 19.5% of the GDP]
The Wall Street Journal ^
| MAY 20, 2008
| By DAVID RANSON
Posted on 10/13/2009 10:39:47 AM PDT by Son House
click here to read article
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"Economists of all persuasions accept that a tax rate hike will reduce GDP, in which case Hauser's Law says it will also lower tax revenue."
^^^Except Economists of White House and Democrat persuasions
There is another chart referenced at the article link.
Pay attention to the GDP, Gross Domestic Product
1
posted on
10/13/2009 10:39:48 AM PDT
by
Son House
To: Son House
Its called ....Going Galt
A reaction to taxing the Rich Entrepreneurs. The people rule, even the rich people.
2
posted on
10/13/2009 10:44:53 AM PDT
by
4Speed
To: Son House
3
posted on
10/13/2009 10:46:30 AM PDT
by
WOBBLY BOB
(ACORN:American Corruption for Obama Right Now)
To: Son House
Your article about ‘Hauser’s Law’ is one of my favorites.
The ‘Progressives’ actually believe that tax revenues will go up if you increase the tax rate.Deficit spending is a future tax increase. Anyone operating a small business knows what the future holds. The Math never lies.
4
posted on
10/13/2009 10:48:06 AM PDT
by
griswold3
(You think health care is expensive now? Just wait till it's FREE!)
To: Son House
And as income tax renvenue stays flat, the way to grow overall tax collections is through capital gains. Not by raising rates, but by allowing the economy to flourish....
hh
5
posted on
10/13/2009 10:48:53 AM PDT
by
hoosier hick
(Note to RINOs: We need a choice, not an echo....Barry Goldwater)
To: Son House
To: Son House
Income Tax Revenue as a Percent of GDP is not the same thing as Total Tax Revenue.
Let’s see some charts showing the correlation between marginal tax rates and Total Tax Revenue. (Lower rates = MORE Total Revenue)
All this chart says is if you raise tax rates, you tank the GDP, so Tax Revenue declines about the same percentage as GDP declined.
7
posted on
10/13/2009 11:19:01 AM PDT
by
Auntie Dem
(Hey! Hey! Ho! Ho! Terrorist lovers gotta go!)
To: 4Speed
Paraphrasing Rush from one of his books, "If you took all the money from all the rich, and divided it out amongst the "poor", in a period of time, the same people would be rich again, and those who were "poor" would again be poor.
It's not who has the money, it's how the money is handled.
All that stimulus money - once distributed - will wind up right back where it started, in the hands of businesses.
8
posted on
10/13/2009 11:26:52 AM PDT
by
FrankR
(To Congress: You cram it down our throats in '09, We'll shove it up your ass in '10!)
To: Son House
9
posted on
10/13/2009 11:27:35 AM PDT
by
CutePuppy
(If you don't ask the right questions you may not get the right answers)
To: Auntie Dem
This is what I see
Lower rates = Larger GDP = more jobs = more opportunity = MORE Total Revenue
10
posted on
10/13/2009 11:36:50 AM PDT
by
Son House
(OcarterCare by Congress will make all Americans = Wards of the State)
To: CutePuppy
Thanks for that, hopefully someone brighter than I will find some more current info on the GDP and post
11
posted on
10/13/2009 11:39:21 AM PDT
by
Son House
(OcarterCare by Congress will make all Americans = Wards of the State)
To: Son House
"No matter what the tax rates have been, in postwar America tax revenues have remained at about 19.5% of GDP." Sort of a meaningless number. Would you rather have 19% of a robust and positive GDP or 19% of a weak and negative GDP? The goal is a robust and positive GDP. The 2003 tax cuts by 2006 had increased federal revenue by a little more than 40% while the GDP took off positive.
12
posted on
10/13/2009 11:56:59 AM PDT
by
avacado
To: avacado
The 2003 tax cuts by 2006 ... while the GDP took off positive.
^
and tax increases move the GDP negative, the 19% of a weak and negative GDP we’ve got with Democrat policies
13
posted on
10/13/2009 12:05:31 PM PDT
by
Son House
(OcarterCare by Congress will make all Americans = Wards of the State)
To: Son House
"and tax increases move the GDP negative" They did not. GDP shot up to over 7% growth in one quarter. You need to fact check before posting that nonsense.
14
posted on
10/13/2009 12:07:19 PM PDT
by
avacado
To: Son House
15
posted on
10/13/2009 12:22:49 PM PDT
by
avacado
To: avacado
Soak the rich. The rich leave.
16
posted on
10/13/2009 12:24:49 PM PDT
by
arthurus
("If you don't believe in shooting abortionists, don't shoot an abortionist." -Ann C.)
To: Son House
"and tax increases move the GDP negative, the 19% of a weak and negative GDP weve got with Democrat policies" My apologizes!!! I read your post wrong. I thought you said tax cuts caused a negative GDP. My apologizes!
17
posted on
10/13/2009 12:25:19 PM PDT
by
avacado
To: Auntie Dem
The chart is correct. As rates fall the economy grows and the net difference to the treasury as a percentage of GDP remains constant. Yes, the total receipts to the treasury increased as the economy grew.
18
posted on
10/13/2009 12:43:50 PM PDT
by
Ouderkirk
(Democrats: the party of Slavery, Segregation, Sodomy and Sedition)
To: Auntie Dem
Lets see some charts showing the correlation between marginal tax rates and Total Tax Revenue. (Lower rates = MORE Total Revenue)That's implicit in the chart shown.
19
posted on
10/13/2009 12:47:34 PM PDT
by
CharacterCounts
(November 4, 2008 - the day America drank the Kool-Aid)
To: avacado
Thanks for posting that, funny to think McCain’s economic team couldn’t explain any of this before he lost to any tax and spend Democrat, I can only remember McCain saying “he wants to raise your taxes”, too little, to late
20
posted on
10/13/2009 1:10:39 PM PDT
by
Son House
(OcarterCare by Congress will make all Americans = Wards of the State)
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