antagon
The Man
- Dec 6, 2009
- 3,572
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one of the flaws of the laffer curve is the lack of specificity with which it was proposed. it is a model which doesn't account for the varied taxation causes which you put forward. their confusing nature alone is just one device which accounts for the real impact of a tax rate, and the laffer curve is based on impact and perception, rather than the rate itself.Most people do not realize the percent of, or add up all the taxes they pay every year from their earnings. Medicare, SS, Federal, State, County, City, Healthcare, License, Sales Tax, Real-estate Tax, Personal Property Tax, Automobile Tax, Phone Taxes, Gas Tax, Utility Tax's, Permit Fees, Mandatory Unemployment Insurance, Mandatory Auto Insurance, Mandatory Healthcare Insurance, Sin Taxes.
Not to mention Government Fines & Penalties or Bank/Credit/Debit Exchange Fees or interest if you are in debt.
The average worker is paying well over 70% of their earnings out to someone who spends it for them & they don't even realize it. The Gold barter trade system is looking very very good to me!
furthermore, laffer's not accounted for the role of government expenditure in such a simple curve. the willingness for industry to support a self-interested and exclusive oligarchy is dramatically different than one which invites lobbying and capture, or which prioritizes investment back into the wider economy.
which rate? trick question. false premise.
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