healthmyths
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- Sep 19, 2011
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The primary reason for raising taxes on cigarettes:
Extensive research shows that tobacco taxes reduce smoking and extend lives. An examination of more than 100 international studies articulates the empirical consensus: “Significant increases in tobacco taxes are a highly effective tobacco control strategy and lead to significant improvements in public health.
Higher Tobacco Taxes Can Improve Health and Raise Revenue | Center on Budget and Policy Priorities
So raising taxes does what? Discourages behavior right? Make it too expensive reduces the consumption right?
BUT conversely if raising taxes discourages, lowering taxes encourages Right?
So who has the best chances of improving our economy?
Again keep in mind raising taxes discourages, lowering taxes encourage!
Hillary plan:
Trump's plan:
This increase in GDP would translate into 6.5 percent higher wages and 5.3 million new full-time equivalent jobs.
Details and Analysis of Donald Trump’s Tax Plan
Extensive research shows that tobacco taxes reduce smoking and extend lives. An examination of more than 100 international studies articulates the empirical consensus: “Significant increases in tobacco taxes are a highly effective tobacco control strategy and lead to significant improvements in public health.
Higher Tobacco Taxes Can Improve Health and Raise Revenue | Center on Budget and Policy Priorities
So raising taxes does what? Discourages behavior right? Make it too expensive reduces the consumption right?
BUT conversely if raising taxes discourages, lowering taxes encourages Right?
So who has the best chances of improving our economy?
Again keep in mind raising taxes discourages, lowering taxes encourage!
Hillary plan:
- A 4 percent surtax (the campaign calls it a "Fair Share Surcharge"), which has been getting the most attention. It involves taxing all income (that is, not just wage and salary income) over $5 million. That's what makes it a surcharge and not just the creation of a new income-tax bracket.
- The Buffett Rule — She would require people earning more than $1 million annually to pay at least a 30 percent tax rate.
- Tightening loopholes that tend to be used by the wealthy. In particular, the Clinton camp points to what's been dubbed the "Romney loophole." That refers to the practice of stashing millions of dollars in IRAs. They also highlight the "Bermuda reinsurance loophole," which has allowed some hedge-fund managers reduce their taxes via insurance companies in Bermuda, as Bloomberg reported.
Trump's plan:
- Mr. Trump’s tax plan would substantially lower individual income taxes and the corporate income tax and eliminate a number of complex features in the current tax code.
This increase in GDP would translate into 6.5 percent higher wages and 5.3 million new full-time equivalent jobs.
Details and Analysis of Donald Trump’s Tax Plan