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While most know about the Laffer curve, lost among many conversation on Tax Codes is the fact that as a % of GDP, tax receipts hold steady regardless of tax policy. This can be explained with downturns in GDP as well as investors shifting investments to avoid or celebrate a given tax policy. Taxes as a percentage is too simplified of a model when discussing tax policy, a more in depth study is needed.
The fallacy of believing higher taxes = higher tax revenue, or lower taxes = higher revenue.
Seeded on Thu Nov 25, 2010 9:19 PM EST
Article Source: Wall Street Journal- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (2)
Something to think about when arguing the expiration of the Bush Tax Cuts.
#1 - Thu Nov 25, 2010 9:20 PM ESTJesse,
I have been reading some of your comments. Thank you! Just read one about the "strawman argument". I did not know there was a name for it, but have heard it over and over. Truly appreciate your intelligent enlightenment.
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