Posted on 10/15/2018 6:11:48 PM PDT by mdittmar
So then by your logic let's cut taxes to zero. Just imagine the revenue increases we'll see from that.
Of course you do.
You cut taxes every year until you start to see a revenue drop. This means you've reached the Laffer inflection point. Revenues are still increasing since the tax cuts went into effect so the inflection point is still to the left and more cutting is need.
Do you know what an inflection point is on a hyperbolic curve? Do I need to be instructed in high school math?
The top 1,400 taxpayers pay as much in taxes combined as the bottom 71,000,000 taxpayers combined... 50,714 = 1... They also pay higher rates than that bottom 50%... each group pays about 3% of the total revenues.
The "not paying their fair share" theme should die soon.
(The remaining 49.9981% of us pay the other 94%... again with the top carrying a significant part of that total load.)
Dawg, the Laffer Curve above is very simple:
At 0% tax rate, we take in nothing. (as you said)
At 100% tax rate, we take in nothing. (nobody would work for nothing)
At other rates in the middle, we do take in revenues. (duh)
At some rate in the middle, we will maximize revenues. (the "inflection point" at the top)
To find that rate... if you cut taxes and revenues go up, then the current rate is too high... you're to the right of the inflection point, and you must cut it again, until revenues no longer rise.
Trump cut the tax rate, and revenues increased, thus we are demonstrably to the right of that inflection point, and must cut them again to find the maximization point.
(And THEN we can debate whether maximizing DC's flow of our cash is in our best interests or not... but first thing's first...)
And I'm the mathematically challenged one? At least I can read the Laffer Curve.
It's a whole lot more complex that central_va seems to think it is. He apparently believes that if you continue to cut taxes then you continue to increase revenue. By his logic my statement was correct.
To find that rate... if you cut taxes and revenues go up, then the current rate is too high... you're to the right of the inflection point, and you must cut it again, until revenues no longer rise.
That is true only if you can demonstrate that cutting taxes resulted in more revenue that you would have taken in had you not cut taxes, and you can only do that if the economy remained constant. Our economy last year was growing over the year before, unemployment was shrinking, business activity was expanding. All of those would have resulted in increased revenue, even under the old tax rates. So for all you know, the old tax rates were already to the left of the inflection point.
No you can’t. As far as taxation goes the USA is to the right of the inflection point that is why revenues increased after the tax cut. You are completely stupid and I have no hope for you.
I read you stuff and I really don't feel all that stupid.
“No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.
ARTICLE I, SECTION 9, CLAUSE 7
You should.
LOL! Not really, no.
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