TorJohnson
Rookie
- Apr 4, 2012
- 60
- 30
- 0
- Banned
- #1
What ought the tax rate be? Most Republicans seem to think that raising taxes should never occur. AND they are constantly trying to cut them.
Anyone who's balanced a household budget knows you have revenue and expenditures.
You can't afford steak if you don't go to work for 4 out of 5 days this week.
Yet we have been buying steak in spite of the fact that we don't have enough revenue coming in, because we've willfully LOWERED our revenues. Classic Ant and Grasshopper.
Idleness today at the expense of security tomorrow.
So, what should our top tax rates be?
One can see that working class people pay a higher tax rate than the rich.
And the the middle class has been expected to pick up the slack from corporations buying politicians lowering the the effective corporate tax rate though numerous loopholes and dodges.
That leaves the rich, who saw their tax rate drop by over HALF over the last 30 years or so. What benefits have we realized from all the economic activity that came from "letting people keep their own money"? Jobs? Higher wages for workers?
I would submit that we have passed the line on the Laffer curve that optimizes income by cutting taxes. Now, decreased tax revenues are actually HURTING us, as we cannot pay down our debt because we CHOOSE to not raise taxes.
The same goes for "limited" government. At what point do you "limit" government so much that it becomes impotent and ineffectual? What is the delineation ?
Until and unless we stake out some intellectual boundaries on the tax issue, we'll forever be caught in the fallacy that "If a little of something is good for you, then a LOT must be GREAT!"
Everyone knows that isn't true. Except for Republicans on taxes and limiting government.
And it makes us look like fools or uncompromising jerks.
Anyone who's balanced a household budget knows you have revenue and expenditures.
You can't afford steak if you don't go to work for 4 out of 5 days this week.
Yet we have been buying steak in spite of the fact that we don't have enough revenue coming in, because we've willfully LOWERED our revenues. Classic Ant and Grasshopper.
Idleness today at the expense of security tomorrow.
So, what should our top tax rates be?
One can see that working class people pay a higher tax rate than the rich.
And the the middle class has been expected to pick up the slack from corporations buying politicians lowering the the effective corporate tax rate though numerous loopholes and dodges.
That leaves the rich, who saw their tax rate drop by over HALF over the last 30 years or so. What benefits have we realized from all the economic activity that came from "letting people keep their own money"? Jobs? Higher wages for workers?
I would submit that we have passed the line on the Laffer curve that optimizes income by cutting taxes. Now, decreased tax revenues are actually HURTING us, as we cannot pay down our debt because we CHOOSE to not raise taxes.
The same goes for "limited" government. At what point do you "limit" government so much that it becomes impotent and ineffectual? What is the delineation ?
Until and unless we stake out some intellectual boundaries on the tax issue, we'll forever be caught in the fallacy that "If a little of something is good for you, then a LOT must be GREAT!"
Everyone knows that isn't true. Except for Republicans on taxes and limiting government.
And it makes us look like fools or uncompromising jerks.
