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Yes, average is less than $15,000 PER FAMILY. oF COURSE WHY SHOULD WE EXPECT THE 'JOB CREATORS' (TOP 1%) MAKING A min OF $388,900+ A FAMILY, TO PAY A LARGER TAX BURDEN
62,000,000+ FAMILIES, IS LESS THAN $15,000 PER FAMILY AVG (MAX ANY MAKE IS $34,800 A YEAR) BUBBA
Summary of Latest Federal Income Tax Data Tax Foundation
Yes, average is less than $15,000 PER FAMILY.
Realize the flaw in your claim yet?
No Bubba, TRY REAL MATH Not 'con' math
Bottom half of US (who made enough to even file taxes) made less than $15,000 PER FAMILY
Summary of Latest Federal Individual Income Tax Data Tax Foundation
You said the bottom half make less than $15,000.
Do you have a link that proves that?
Or do we have to use your link that proves you're wrong?
Do the math dummy. ANTI Tax Foundation proves I'm CORRECT
Do the math dummy. ANTI Tax Foundation proves I'm CORRECT
You think your link shows the bottom half of tax filers makes less than $15,000 per family?
Wow, you are dumb.
So NO YOU WILL NOT TRY TO LINK TO ANYTHING PROVING YOUR POSIT. LOL
Tax Cuts did not create the Celtic Tige
“The promotion of the myth that low taxes created the Irish economic ‘miracle’ is part of a wider, conservative political agenda which, in essence, seeks to limit the role
of the state and maintain the benefits reaped by a small minority, during the Celtic Tiger years. For them, Ireland is a low-tax economy and self-interest dictates that it
should remain so.”
http://www.ictu.ie/download/pdf/tax_cuts_did_not_create_celtic_tiger.pdf
For nearly two decades, Ireland has been hailed as an example to the rest of the world for what can be achieved by a small country in terms of economic growth. The prosperity enjoyed by the “Celtic Tiger,” it was claimed, benefited the Irish population as a whole.
...The Celtic Tiger changed over time, mostly due to foreign companies looking toward Eastern Europe for even cheaper labor. When foreign investment started to dry up, Ireland’s economic profile shifted. Joining the Eurozone in 2002, Ireland was awash in money, as low interest rates in Europe made easy credit available. This had a twofold effect.
On the other, a “housing bubble” emerged that became the driving force of the Irish economy. This asset-price bubble became an important source of employment, since the construction, real estate, and mortgage broker industries exploded. It was estimated that the housing boom was responsible for one-fifth of all the jobs on the island, and state revenues relied heavily on property taxes.
IRELAND Slaying the Celtic Tiger Solidarity
In September 2008, Ireland became the first eurozone country to officially enter recession
So NO YOU WILL NOT TRY TO LINK TO ANYTHING PROVING YOUR POSIT
From 1995 to 2000, GDP growth rate ranged between 7.8 and 11.5%; it then slowed to between 4.4 and 6.5% from 2001 to 2007
Tax Cuts did not create the Celtic Tiger
During that period, the Irish GDP per capita rose dramatically to equal, then eventually surpass, that of all but one state in Western Europe
Before the tax cuts, Ireland was one of the poorer western EU members, after, their GDP per capita was higher than all but Germany. I guess it was just a coincidence? LOL!
The same is true in Ireland. The corporation tax rate was cut drastically and a 12.5% rate was phased in up to 2003. The 10-year period of GDP growth since has been the worst in the history of the state. Yet it is still widely claimed that a low rate of corporation tax determines Irish prosperity. This claim is evidently false.
The strongest ever year of Irish growth was in 1997. This was not a part of what has become known as the ‘Celtic Tiger’ period and was six years before the 12.5% tax rate was fully phased in.
Unite s Notes On The Front Low Corporation Tax Rates for Do Not Boost Growth
OOPS
The strongest ever year of Irish growth was in 1997. This was not a part of what has become known as the ‘Celtic Tiger’ period and was six years before the 12.5% tax rate was fully phased in.
The growth before the cuts were fully phased in don't count? Why not?
How could the economy boom with a high tax rate before they phased in? That's like somehow claiming Reagan with a top rate of 50% his first six years, tax cuts were responsible for his 1980's economy? Oh wait, you K/K/Kl;owns claim that right? lol
How could the economy boom with a high tax rate before they phased in?
Do you know the meaning of "phased in"? LOL!
So NO YOU WILL NOT TRY TO LINK TO ANYTHING PROVING YOUR POSIT. LOL
Tax Cuts did not create the Celtic Tige
“The promotion of the myth that low taxes created the Irish economic ‘miracle’ is part of a wider, conservative political agenda which, in essence, seeks to limit the role
of the state and maintain the benefits reaped by a small minority, during the Celtic Tiger years. For them, Ireland is a low-tax economy and self-interest dictates that it
should remain so.”
http://www.ictu.ie/download/pdf/tax_cuts_did_not_create_celtic_tiger.pdf
For nearly two decades, Ireland has been hailed as an example to the rest of the world for what can be achieved by a small country in terms of economic growth. The prosperity enjoyed by the “Celtic Tiger,” it was claimed, benefited the Irish population as a whole.
...The Celtic Tiger changed over time, mostly due to foreign companies looking toward Eastern Europe for even cheaper labor. When foreign investment started to dry up, Ireland’s economic profile shifted. Joining the Eurozone in 2002, Ireland was awash in money, as low interest rates in Europe made easy credit available. This had a twofold effect.
On the other, a “housing bubble” emerged that became the driving force of the Irish economy. This asset-price bubble became an important source of employment, since the construction, real estate, and mortgage broker industries exploded. It was estimated that the housing boom was responsible for one-fifth of all the jobs on the island, and state revenues relied heavily on property taxes.
IRELAND Slaying the Celtic Tiger Solidarity
In September 2008, Ireland became the first eurozone country to officially enter recession
So NO YOU WILL NOT TRY TO LINK TO ANYTHING PROVING YOUR POSIT
From 1995 to 2000, GDP growth rate ranged between 7.8 and 11.5%; it then slowed to between 4.4 and 6.5% from 2001 to 2007
Tax Cuts did not create the Celtic Tiger
During that period, the Irish GDP per capita rose dramatically to equal, then eventually surpass, that of all but one state in Western Europe
Before the tax cuts, Ireland was one of the poorer western EU members, after, their GDP per capita was higher than all but Germany. I guess it was just a coincidence? LOL!
The same is true in Ireland. The corporation tax rate was cut drastically and a 12.5% rate was phased in up to 2003. The 10-year period of GDP growth since has been the worst in the history of the state. Yet it is still widely claimed that a low rate of corporation tax determines Irish prosperity. This claim is evidently false.
The strongest ever year of Irish growth was in 1997. This was not a part of what has become known as the ‘Celtic Tiger’ period and was six years before the 12.5% tax rate was fully phased in.
Unite s Notes On The Front Low Corporation Tax Rates for Do Not Boost Growth
OOPS
The strongest ever year of Irish growth was in 1997. This was not a part of what has become known as the ‘Celtic Tiger’ period and was six years before the 12.5% tax rate was fully phased in.
The growth before the cuts were fully phased in don't count? Why not?
36% Corp tax rate in 1997???
lol
OECD Corporate Income Tax Rates 1981-2013 Tax Foundation
36% Corp tax rate in 1997???
Is 36% too high? Tell Obama.
Wow, irony on steroids here.
A troll thread from Billy Three-Zip, whose name represents all he knows.
Hey, Billy. Remind us how government spending creates a mulitplier but spending by private companies doesn.t
Liberals claim that government interference helps the economy. Heck, it worked so well for Detroit that they want those policies for the entire country.
Liberals claim they can artificially raise some people by oppressing achievers.
Too many poor people have put their trust in liberal politicians and look where it's gotten them in the last 60 years.
Right now they are putting lots of new regulations on taxi services in DC because they think it will make them more competitive. Liberals know nothing about running companies and competing in the free market. They think they can force outcomes when all they do is stifle creativity and real competition.
The left says they do understand how things work, so that would make their actions even more sinister. It means they do understand how capitalism works and they simply don't like it. You would have to have some understanding of how things work in order to manipulate it to the point where it collapses.
Either they are clueless about the economy or they are deliberately trying to break us. Which is it, liberals?
DC Taxicabs Forced to Follow Another Rule
I read some here proselytizing for demand-side economics, and others bemoaning corporate tax breaks.
These positions, simply, reveal their ignorance about how our economic system works. They are more interested in planting an ego-driven stake in the ground than in determining the correct answers. One at a time ....
1) Demand-side economics ... a slavish commitment to demand-side economics is a commitment to economic ruin. The definition of demand-side economics is ...
"Demand-side economics is first and foremost a means of ridding an economy of a recession and stimulating economic growth while preventing inflation. It is meant as a control on both expansion and retraction, to keep an economy in a stable zone. The idea is that to stimulate growth, a government should lower taxes on the middle and working class, and increase government spending. To combat rising inflation in an expanding economy, a government should raise taxes and reduce spending." What Is Demand-Side Economics with pictures
While that sounds good, nobody notices the dichotomy of "lower taxes on middle and working class, and increase government spending. To combat rising inflation in an expanding economy, a government should raise taxes and reduce spending.". Essentially, in order to accomplish its goals, the government must lower taxes on the "middle and working class", and increase taxes on the non-"middle and working class". In theory, this allows the government to assume more control of the economy, take operating capital from the rich, and lower the tax burden on the middle class which, in turn, gives them more money to spend. In practice, however, demand-side economics increases the price of items, driving the cost of living up.
By definition, the price increase must exceed the tax break. Thus, while there is a temporary increase in standard of living, it is quickly devoured by the price increases. In the end, the poor and middle class are harmed by the price increases more than the tax break can ever provide. The resultant need to expend a larger percentage of their income in order to maintain their lifestyle - at whatever level - means there is less money for investment and research, thus driving the cost of production even higher. Add THAT ripple to the price increase, and the whole economy begins to slide backward.
2) Supply-side economics - a slavish commitment to supply-side economics is a commitment to economic ruin. The definition of supply-side economics is ...
"Supply-side economics is one expression of macroeconomics that focuses on the stimulation of economic growth by encouraging greater production of goods and services. Essentially, this removes the issue of demand from the economic task, as the concept of supply-side economics takes the stand that demand will follow if there are goods available for purchase. Often, proponents of this approach will use the extension of incentives to stimulate interest or demand for the goods and services produced.
One of the more common incentives used with a supply-side economics model is to provide tax breaks. Lowering the taxes owed by manufacturers of finished goods is thought to make it practical for producers to create more products. In turn, more products mean more choices for consumers, who will respond accordingly.
Along with a reduction in taxes for the producer, supply-side economics also sometimes takes the form of lowering personal income taxes as they relate to the consumer. With this application of the method, consumers have more disposable income, since the amount of income tax that is deducted from gross pay is reduced. With more money in their pockets, consumers are more likely to feel good about the general state of the economy. This increase confidence leads to additional purchases, which in turn justifies the increased production of manufacturers." What is Supply-Side Economics with picture
The goal of supply-side economics is to increase demand by decreasing the price. This is done by creating a greater supply, thru lowered production costs (most often by cutting taxes), which in turn, will drive the price down thru competition. This will make the current earned dollar more efficient.
It must be remembered that supply and demand are the opposite sides of the economic cycle. The question becomes which should be stimulated in order to produce the desired effect. Demand-side stimulation provides temporary relief focused on raising the production through increased demand, which drives the item price up. Supply-side stimulation provides longer term relief, though still temporary, through increased demand by increased production, which lowers the price.
Which one is right? The answer is both - depending on the economic condition. The problem we have today is that we have political entities that are married to a single answer - and neither of them are right.
The Vienna and Chicago schools have foisted a load of baloney on the market that, when made into policy, has led to every major recession, not to mention the Great Depression, since the establishment of economics as a field.
We have to decide which kind of capitalism we want- plutocratic capitalism where all the money is concentrated in the hands of 1% of the population, leaving the rest in debt or poverty, or democratic capitalism, where economic growth is created by as much of the population as possible
The conservatives have favored plutocratic capitalism, the belief in supply side economics, that the rich are the job creators but those jobs have to pay the smallest wages possible with no benefits in order to increase profits at the top end, that they should receive favorable treatment like low taxation and little oversight and regulation
Liberals favor democratic capitalism, where the profits are created by a consumer middle class who are paid wages that are sufficient, that the wealth of capitalism is spread and passed from hand to hand, that a welfare state is created for the working force so when there is an economic downturn or a personal disaster or emergency that member of the workforce is not expendable and their families will survive, and in their elder years they will have a pension and healthcare, alleviating that burden on their younger family members in the work force
In the last thirty years the conservative view came back into vogue and the results have been a huge jump in the wealth of a few with the deterioration of the middle class
As usual, you take what COULD be a valid position, and lead it all the way to absurd. In short, you are patently wrong ... and your last statement is laughably wrong.
You meant Congress increased it once and Obama wants them to do it again. Good
So the way it works in "Dad Fantasy Land" is whenever legislation is proposed by a GOP President and passed by a Democratically controlled Congress...if it doesn't work out well it's the fault of the Republican President? But if Barack Obama proposes legislation and it's passed by a Democratically controlled Congress...it's the fault of Congress?
Do you have any idea how stupid you are with some of this shit?
Weird, care to point to MY positing ANYTHING like that?
I guess Dubya's UNFUNDED Tax cuts were the Dems fault?
Dubya's UNFUNDED war on false premise
Dubya's REGULATOR failure AFTER he ran his 'home ownership' society with the backing of the GOP Congress?
Dubya's Medicare part D UNFUNDED of course
Any of these on the Dems? (Hint 60% of Dems in Congress voted against Dubya's war of choice)
BUT WHY NOT FAVOR A MORE PROGRESSIVE TAX SYSTEM, IF YOU ARE REALLY CONCERNED ABOUT THE POOR TAX BURDEN??? lol
A Progressive tax system is EXACTLY what you don't want ... it is the root of our problem.
Sure, THAT'S been the problem, PROGRESSIVE TAXATION *SHAKING HEAD*
Believe it or not, after everything that has happened regarding the Wall St. Banking fiasco, the Republican Party is calling for less regulations for Wall St. Banks What! Yes, its true. The Republican Party wants to deregulate Wall St. Banks even more then they already are. Mind boggling isn't it. I guess its no more mind boggling then the Republican Party still offering up Trickle Down Economics as the answer to joblessness and low wages. 30+ years of Trickle Down Economics that have proven to be a complete disaster for Middle Class America, and even worse for Americans on the lower rungs of the economic ladder, and the Republican Party has the audacity to presume that Americans are so stupid as to keep buying into the worst economic policy ideology since the days of the Robber Barron's, when the rich got obscenely richer, and the poor got obscenely poorer.
Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory
The conclusion?
Lowering the tax rates on the wealthy and top earners in America do not appear to have any impact on the nation’s economic growth.
This paragraph from the report says it all—
“The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie. However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.”
Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study - Forbes
Again, overstatement for effect only demonstrates your lack of knowledge. Be ashamed ... be very ashamed.
The only people who are more stupid than Republicans are the people who vote for them.
One need only look at the economies of Chile, Brazil and several other South American countries in the 70's - 90's to see what happens when the economic principles of the Chicago School of Economics are applied: the rich get richer, wages are suppressed, and poverty increases. Not unlike what has happened in the US since many of the Chicago School ideas were put into play by Reagan and successive US Presidents.
does not change what i said......things were pretty nice down her during that time......back in the 60's and 70's then the worms from the other states started coming in here for a piece of the pie.....i went to junior college for 2 years and only had to buy my books....now try that.....i was able to quit a job if i did not like it.....walk down the street and get hired on at another place on the spot.....try that now.....i was renting a 2 bedroom place for 300 hundred bucks a month in a nice neighborhood....find that now.....gas was so cheap i could fill my tank on 10 bucks.....and just the lifestyle was nice and casual....now?.....and everytime i left the State and traveled elsewhere....everyone i met when they found out i was from Ca......thats where they wanted to be....even when i was in Canada...try that now see what you get.....When was this place a utopia, and what was it like? Was this place a utopia for all, for some or a few?at one time this place was a utopia.....and im sure there are millions who would agree with me....but all those fuckers from around the Country over the last 30 years who came here and milked this place dry .....well guess where many of them are now going?....You are a fool! Poor people spent a higher percentage of their income on alcohol tobacco and gasoline.Got it, you are an ignorant tool who can't follow the context of the posts
No, the wealthy don't tend to smoke or drink *shaking head*
They tend to drink more, though maybe cheaper booze, but they consume in larger quantities. On the federal and state level, alcohol is taxed on the proof gallon before it's poured in a glass and only on cost after it's poured.
If you are surviving on $15,000/year and smoke a pack of cigarettes a day, you are spending 15% (in Alabama but over 22% in Connecticut) of your income on tobacco. A person with the same habit making $200,000 is spending 1%.
Same for gasoline. If you're living in the Liberal Mecca of California, you're paying 90 cents/gallon in taxes. A daily commute of 40 miles total working 5 days a week will cost you $468/year in fuel tax or 3% of your income. that's 0.2% for the $200,000/year guy.
Some Liberal Mecca huh?
You mean where Ronnie Reagan started his war on education and the middle class? Before him if you were in the top 12% of the state, you received a FREE UC education, everyone else had a FREE JC experience. Of course he had to cut taxes for the 'job creators' to do this
So NO YOU WILL NOT TRY TO LINK TO ANYTHING PROVING YOUR POSIT
From 1995 to 2000, GDP growth rate ranged between 7.8 and 11.5%; it then slowed to between 4.4 and 6.5% from 2001 to 2007
Tax Cuts did not create the Celtic Tiger
During that period, the Irish GDP per capita rose dramatically to equal, then eventually surpass, that of all but one state in Western Europe
Before the tax cuts, Ireland was one of the poorer western EU members, after, their GDP per capita was higher than all but Germany. I guess it was just a coincidence? LOL!
OK, Tax cuts create EVERYTHING in the con m
ind., AGAIN, you can't LINK (not copy and past and not attribute to WIKI, lol
August 11, 1999
Inside the Celtic Tiger shows that the tiger exists for only a few; for most of Ireland's people, it has largely passed them by. Denis O'Hearn looks at how Irish economic policy has become centred on attracting multinationals.
Rapid growth in the economy has been overwhelmingly concentrated in sectors dominated by multinational corporations
Ireland the myth of the Celtic tiger Green Left Weekly
Contributing writer Emily Cesta argues that “The Celtic Tiger”–Ireland’s boom economy between 1995-2007—was nothing more than a mirage of false promises.
....
It didn’t take long, however, before the building simply stopped. Unfinished apartments, abandoned buildings with only three outer walls and a serious loss of jobs were all anyone spoke of. The money simply dried up. Companies were moving. Dell moved its manufacturing plant from Limerick, Ireland to Poland. Waterford Wedgwood had a financial collapse. There was a banking crisis. Property values plummeted and no one could afford their mortgage. People were getting laid off and there was simply no more work.
The Myth of the Celtic Tiger - Money Under 30
ONCE MORE:
Tax Cuts did not create the Celtic Tiger
“The promotion of the myth that low taxes created the Irish economic ‘miracle’ is part of a wider, conservative political agenda which, in essence, seeks to limit the role
of the state and maintain the benefits reaped by a small minority, during the Celtic Tiger years. For them, Ireland is a low-tax economy and self-interest dictates that it
should remain so.”
http://www.ictu.ie/download/pdf/tax_cuts_did_not_create_celtic_tiger.pdf
AGAIN, US CORP TAX RATES WERE BELOW 12%? LOL
The Irish economic miracle was in part an employment boom as it had laid the foundation for a productivity boom many years earlier. This employment boom piggybacked the U.S. technology boom with U.S. multinationals realizing that Ireland not only was a gateway into the European Union that could avoid customs duties but also a means for reducing its effective tax rate by using transfer pricing manipulation to shift U.S. income into tax-advantaged Ireland. The really odd thing about the tax cut jihadists in the U.S. is that they are now complaining that the IRS might actually enforce section 482 of the U.S. tax code. Their hypocrisy is apparent when they claim – as many have been recently doing – that enforcing section 482 will lead to an outsourcing of jobs to low-tax jurisdictions. The Irish know that the lack of enforcement of section 482 has been part of their success in attracting jobs from U.S. multinationals.
Angry Bear The Irish Economic Miracle and Tax Policy
Low Corporation Tax Rates for Do Not Boost Growth
The same is true in Ireland. The corporation tax rate was cut drastically and a 12.5% rate was phased in up to 2003. The 10-year period of GDP growth since has been the worst in the history of the state. Yet it is still widely claimed that a low rate of corporation tax determines Irish prosperity. This claim is evidently false.
The strongest ever year of Irish growth was in 1997. This was not a part of what has become known as the ‘Celtic Tiger’ period and was six years before the 12.5% tax rate was fully phased in.
Unite s Notes On The Front Low Corporation Tax Rates for Do Not Boost Growth
LOL
lol
So NO, you can't be honest
"
Low Corporation Tax Rates for Do Not Boost Growth
The same is true in Ireland. The corporation tax rate was cut drastically and a 12.5% rate was phased in up to 2003. The 10-year period of GDP growth since has been the worst in the history of the state. Yet it is still widely claimed that a low rate of corporation tax determines Irish prosperity. This claim is evidently false.
The strongest ever year of Irish growth was in 1997. This was not a part of what has become known as the ‘Celtic Tiger’ period and was six years before the 12.5% tax rate was fully phased in."
Tax Cuts did not create the Celtic Tiger
They suddenly had the 2nd highest GDP per capita, after historically being so poor, millions of their citizens emigrated, but it was totally unrelated to their tax cuts? LOL!
I've seen plenty of stupid liberals, but you're one of the dumbest.
The corporation tax rate was cut drastically and a 12.5% rate was phased in up to 2003. The 10-year period of GDP growth since has been the worst in the history of the state.
OMG! That's terrible. What about .......
From 1995 to 2000, GDP growth rate ranged between 7.8 and 11.5%
You have any other period in Irish history where their economy grew like that?
lol, YOU can't be honest. Shocking
Low Corporation Tax Rates for Do Not Boost Growth
The same is true in Ireland. The corporation tax rate was cut drastically and a 12.5% rate was phased in up to 2003. The 10-year period of GDP growth since has been the worst in the history of the state. Yet it is still widely claimed that a low rate of corporation tax determines Irish prosperity. This claim is evidently false.
The strongest ever year of Irish growth was in 1997. This was not a part of what has become known as the ‘Celtic Tiger’ period and was six years before the 12.5% tax rate was fully phased in.
From 1995 to 2000, GDP growth rate ranged between 7.8 and 11.5%
Was that because the tax cuts were partially phased in?
Maybe you have another reason for that huge growth rate?
Any other nearby nations have such a high growth rate from 1995-2000?
Weird the strongest growth in that period was when Corp taxes were MUCH higher. Doesn't sound like lowering Corp taxes did it? lol
How about the emergence of the TECH SECTOR? And Europe 's lowest cost (English speaking) labor markets? lol
1995-2000 Ireland STILL had a 24%-34% Corp tax rate????
OECD Corporate Income Tax Rates 1981-2013 Tax Foundation
HONESTY, TRY IT
ONCE MORE
The mechanism through which lower corporate taxes is supposed to lead to increased prosperity is higher corporate investment. The argument that lower tax rates leads to higher investment has been disproved throughout the entire OECD area, which has a experienced a secular decline in both the rate of GDP growth and the rate of investment for the last 30 years.
The same is true in Ireland. Lower taxes did not lead to higher investment. The chart below shows the level of corporate taxes versus the annual growth in the rate of investment (GFCF, Gross Fixed Capital Formation). The peak period for the growth rate of investment was in the mid-to-late 1990s. This coincides with the period of strongest GDP growth, which is not coincidental as investment plays a decisive role in growth. Both of these were before the corporate tax rate was cut drastically.
Not only did the rate of investment growth slow when corporate taxes were cut, but the composition of that investment was changed in a negative way
Unite s Notes On The Front Low Corporation Tax Rates for Do Not Boost Growth
So NO YOU WILL NOT TRY TO LINK TO ANYTHING PROVING YOUR POSIT
From 1995 to 2000, GDP growth rate ranged between 7.8 and 11.5%; it then slowed to between 4.4 and 6.5% from 2001 to 2007
Tax Cuts did not create the Celtic Tiger
During that period, the Irish GDP per capita rose dramatically to equal, then eventually surpass, that of all but one state in Western Europe
Before the tax cuts, Ireland was one of the poorer western EU members, after, their GDP per capita was higher than all but Germany. I guess it was just a coincidence? LOL!
The same is true in Ireland. The corporation tax rate was cut drastically and a 12.5% rate was phased in up to 2003. The 10-year period of GDP growth since has been the worst in the history of the state. Yet it is still widely claimed that a low rate of corporation tax determines Irish prosperity. This claim is evidently false.
The strongest ever year of Irish growth was in 1997. This was not a part of what has become known as the ‘Celtic Tiger’ period and was six years before the 12.5% tax rate was fully phased in.
Unite s Notes On The Front Low Corporation Tax Rates for Do Not Boost Growth
OOPS
The strongest ever year of Irish growth was in 1997. This was not a part of what has become known as the ‘Celtic Tiger’ period and was six years before the 12.5% tax rate was fully phased in.
The growth before the cuts were fully phased in don't count? Why not?
36% Corp tax rate in 1997???
lol
OECD Corporate Income Tax Rates 1981-2013 Tax Foundation
36% Corp tax rate in 1997???
Is 36% too high? Tell Obama.
Weird, Obama wants to lower to 28% and close loopholes (using money to rebuild infrastructure) , instead the GOP holds onto the 35% and the EFFECTIVE rates, the ones Corps actually pay, is 12%. But isn't it up to Congress?
Thanks for agreeing having a 36% Corp tax rate in Ireland DIDN'T stop their growth though!
I read some here proselytizing for demand-side economics, and others bemoaning corporate tax breaks.
These positions, simply, reveal their ignorance about how our economic system works. They are more interested in planting an ego-driven stake in the ground than in determining the correct answers. One at a time ....
1) Demand-side economics ... a slavish commitment to demand-side economics is a commitment to economic ruin. The definition of demand-side economics is ...
"Demand-side economics is first and foremost a means of ridding an economy of a recession and stimulating economic growth while preventing inflation. It is meant as a control on both expansion and retraction, to keep an economy in a stable zone. The idea is that to stimulate growth, a government should lower taxes on the middle and working class, and increase government spending. To combat rising inflation in an expanding economy, a government should raise taxes and reduce spending." What Is Demand-Side Economics with pictures
While that sounds good, nobody notices the dichotomy of "lower taxes on middle and working class, and increase government spending. To combat rising inflation in an expanding economy, a government should raise taxes and reduce spending.". Essentially, in order to accomplish its goals, the government must lower taxes on the "middle and working class", and increase taxes on the non-"middle and working class". In theory, this allows the government to assume more control of the economy, take operating capital from the rich, and lower the tax burden on the middle class which, in turn, gives them more money to spend. In practice, however, demand-side economics increases the price of items, driving the cost of living up.
By definition, the price increase must exceed the tax break. Thus, while there is a temporary increase in standard of living, it is quickly devoured by the price increases. In the end, the poor and middle class are harmed by the price increases more than the tax break can ever provide. The resultant need to expend a larger percentage of their income in order to maintain their lifestyle - at whatever level - means there is less money for investment and research, thus driving the cost of production even higher. Add THAT ripple to the price increase, and the whole economy begins to slide backward.
2) Supply-side economics - a slavish commitment to supply-side economics is a commitment to economic ruin. The definition of supply-side economics is ...
"Supply-side economics is one expression of macroeconomics that focuses on the stimulation of economic growth by encouraging greater production of goods and services. Essentially, this removes the issue of demand from the economic task, as the concept of supply-side economics takes the stand that demand will follow if there are goods available for purchase. Often, proponents of this approach will use the extension of incentives to stimulate interest or demand for the goods and services produced.
One of the more common incentives used with a supply-side economics model is to provide tax breaks. Lowering the taxes owed by manufacturers of finished goods is thought to make it practical for producers to create more products. In turn, more products mean more choices for consumers, who will respond accordingly.
Along with a reduction in taxes for the producer, supply-side economics also sometimes takes the form of lowering personal income taxes as they relate to the consumer. With this application of the method, consumers have more disposable income, since the amount of income tax that is deducted from gross pay is reduced. With more money in their pockets, consumers are more likely to feel good about the general state of the economy. This increase confidence leads to additional purchases, which in turn justifies the increased production of manufacturers." What is Supply-Side Economics with picture
The goal of supply-side economics is to increase demand by decreasing the price. This is done by creating a greater supply, thru lowered production costs (most often by cutting taxes), which in turn, will drive the price down thru competition. This will make the current earned dollar more efficient.
It must be remembered that supply and demand are the opposite sides of the economic cycle. The question becomes which should be stimulated in order to produce the desired effect. Demand-side stimulation provides temporary relief focused on raising the production through increased demand, which drives the item price up. Supply-side stimulation provides longer term relief, though still temporary, through increased demand by increased production, which lowers the price.
Which one is right? The answer is both - depending on the economic condition. The problem we have today is that we have political entities that are married to a single answer - and neither of them are right.
The Vienna and Chicago schools have foisted a load of baloney on the market that, when made into policy, has led to every major recession, not to mention the Great Depression, since the establishment of economics as a field.
We have to decide which kind of capitalism we want- plutocratic capitalism where all the money is concentrated in the hands of 1% of the population, leaving the rest in debt or poverty, or democratic capitalism, where economic growth is created by as much of the population as possible
The conservatives have favored plutocratic capitalism, the belief in supply side economics, that the rich are the job creators but those jobs have to pay the smallest wages possible with no benefits in order to increase profits at the top end, that they should receive favorable treatment like low taxation and little oversight and regulation
Liberals favor democratic capitalism, where the profits are created by a consumer middle class who are paid wages that are sufficient, that the wealth of capitalism is spread and passed from hand to hand, that a welfare state is created for the working force so when there is an economic downturn or a personal disaster or emergency that member of the workforce is not expendable and their families will survive, and in their elder years they will have a pension and healthcare, alleviating that burden on their younger family members in the work force
In the last thirty years the conservative view came back into vogue and the results have been a huge jump in the wealth of a few with the deterioration of the middle class
As usual, you take what COULD be a valid position, and lead it all the way to absurd. In short, you are patently wrong ... and your last statement is laughably wrong.
Good rebuttal, so detailed and really not to lengthy on where ANY of my posits were wrong, and WHY? lol
One need only look at the economies of Chile, Brazil and several other South American countries in the 70's - 90's to see what happens when the economic principles of the Chicago School of Economics are applied: the rich get richer, wages are suppressed, and poverty increases. Not unlike what has happened in the US since many of the Chicago School ideas were put into play by Reagan and successive US Presidents.
OK, Tax cuts create EVERYTHING in the con m
ind., AGAIN, you can't LINK (not copy and past and not attribute to WIKI, lol
August 11, 1999
Inside the Celtic Tiger shows that the tiger exists for only a few; for most of Ireland's people, it has largely passed them by. Denis O'Hearn looks at how Irish economic policy has become centred on attracting multinationals.
Rapid growth in the economy has been overwhelmingly concentrated in sectors dominated by multinational corporations
Ireland the myth of the Celtic tiger Green Left Weekly
Contributing writer Emily Cesta argues that “The Celtic Tiger”–Ireland’s boom economy between 1995-2007—was nothing more than a mirage of false promises.
....
It didn’t take long, however, before the building simply stopped. Unfinished apartments, abandoned buildings with only three outer walls and a serious loss of jobs were all anyone spoke of. The money simply dried up. Companies were moving. Dell moved its manufacturing plant from Limerick, Ireland to Poland. Waterford Wedgwood had a financial collapse. There was a banking crisis. Property values plummeted and no one could afford their mortgage. People were getting laid off and there was simply no more work.
The Myth of the Celtic Tiger - Money Under 30
ONCE MORE:
Tax Cuts did not create the Celtic Tiger
“The promotion of the myth that low taxes created the Irish economic ‘miracle’ is part of a wider, conservative political agenda which, in essence, seeks to limit the role
of the state and maintain the benefits reaped by a small minority, during the Celtic Tiger years. For them, Ireland is a low-tax economy and self-interest dictates that it
should remain so.”
http://www.ictu.ie/download/pdf/tax_cuts_did_not_create_celtic_tiger.pdf
AGAIN, US CORP TAX RATES WERE BELOW 12%? LOL
The Irish economic miracle was in part an employment boom as it had laid the foundation for a productivity boom many years earlier. This employment boom piggybacked the U.S. technology boom with U.S. multinationals realizing that Ireland not only was a gateway into the European Union that could avoid customs duties but also a means for reducing its effective tax rate by using transfer pricing manipulation to shift U.S. income into tax-advantaged Ireland. The really odd thing about the tax cut jihadists in the U.S. is that they are now complaining that the IRS might actually enforce section 482 of the U.S. tax code. Their hypocrisy is apparent when they claim – as many have been recently doing – that enforcing section 482 will lead to an outsourcing of jobs to low-tax jurisdictions. The Irish know that the lack of enforcement of section 482 has been part of their success in attracting jobs from U.S. multinationals.
Angry Bear The Irish Economic Miracle and Tax Policy
Low Corporation Tax Rates for Do Not Boost Growth
The same is true in Ireland. The corporation tax rate was cut drastically and a 12.5% rate was phased in up to 2003. The 10-year period of GDP growth since has been the worst in the history of the state. Yet it is still widely claimed that a low rate of corporation tax determines Irish prosperity. This claim is evidently false.
The strongest ever year of Irish growth was in 1997. This was not a part of what has become known as the ‘Celtic Tiger’ period and was six years before the 12.5% tax rate was fully phased in.
Unite s Notes On The Front Low Corporation Tax Rates for Do Not Boost Growth
LOL
lol
So NO, you can't be honest
"
Low Corporation Tax Rates for Do Not Boost Growth
The same is true in Ireland. The corporation tax rate was cut drastically and a 12.5% rate was phased in up to 2003. The 10-year period of GDP growth since has been the worst in the history of the state. Yet it is still widely claimed that a low rate of corporation tax determines Irish prosperity. This claim is evidently false.
The strongest ever year of Irish growth was in 1997. This was not a part of what has become known as the ‘Celtic Tiger’ period and was six years before the 12.5% tax rate was fully phased in."
Tax Cuts did not create the Celtic Tiger
They suddenly had the 2nd highest GDP per capita, after historically being so poor, millions of their citizens emigrated, but it was totally unrelated to their tax cuts? LOL!
I've seen plenty of stupid liberals, but you're one of the dumbest.
The corporation tax rate was cut drastically and a 12.5% rate was phased in up to 2003. The 10-year period of GDP growth since has been the worst in the history of the state.
OMG! That's terrible. What about .......
From 1995 to 2000, GDP growth rate ranged between 7.8 and 11.5%
You have any other period in Irish history where their economy grew like that?
lol, YOU can't be honest. Shocking
Low Corporation Tax Rates for Do Not Boost Growth
The same is true in Ireland. The corporation tax rate was cut drastically and a 12.5% rate was phased in up to 2003. The 10-year period of GDP growth since has been the worst in the history of the state. Yet it is still widely claimed that a low rate of corporation tax determines Irish prosperity. This claim is evidently false.
The strongest ever year of Irish growth was in 1997. This was not a part of what has become known as the ‘Celtic Tiger’ period and was six years before the 12.5% tax rate was fully phased in.
From 1995 to 2000, GDP growth rate ranged between 7.8 and 11.5%
Was that because the tax cuts were partially phased in?
Maybe you have another reason for that huge growth rate?
Any other nearby nations have such a high growth rate from 1995-2000?
Weird the strongest growth in that period was when Corp taxes were MUCH higher. Doesn't sound like lowering Corp taxes did it? lol
How about the emergence of the TECH SECTOR? And Europe 's lowest cost (English speaking) labor markets? lol
1995-2000 Ireland STILL had a 24%-34% Corp tax rate????
OECD Corporate Income Tax Rates 1981-2013 Tax Foundation
HONESTY, TRY IT
ONCE MORE
The mechanism through which lower corporate taxes is supposed to lead to increased prosperity is higher corporate investment. The argument that lower tax rates leads to higher investment has been disproved throughout the entire OECD area, which has a experienced a secular decline in both the rate of GDP growth and the rate of investment for the last 30 years.
The same is true in Ireland. Lower taxes did not lead to higher investment. The chart below shows the level of corporate taxes versus the annual growth in the rate of investment (GFCF, Gross Fixed Capital Formation). The peak period for the growth rate of investment was in the mid-to-late 1990s. This coincides with the period of strongest GDP growth, which is not coincidental as investment plays a decisive role in growth. Both of these were before the corporate tax rate was cut drastically.
Not only did the rate of investment growth slow when corporate taxes were cut, but the composition of that investment was changed in a negative way
Unite s Notes On The Front Low Corporation Tax Rates for Do Not Boost Growth
Weird the strongest growth in that period was when Corp taxes were MUCH higher. Doesn't sound like lowering Corp taxes did it?
Weird that they didn't have huge growth until they started cutting taxes.
AVG was less than $15,000 PER YEAR PER FAMILY
Moron, your link shows AGI per return, not income.
Do I need to explain the difference. I'm not confident you'll understand.
