Do you think raising tax rates increases revenue?
Do you think raising tax rates increases revenue?
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Don’t know if you are the guy I showed the data.
If you raise rates and examine revs a few years later, you will have more revenue, even with a negative impact on GDP, simply because population rises, as does inflation.
So you go from 35% top end to 39% top end. Absolutely all other factors being equal, you will get a 4% increase in revs.
If GDP fell something less than catastrophic, like maybe 0.3% (a typical recession quarterly sequence) as population rose (1%/yr) and inflation 3% then OF COURSE dollar total of revs go up. Inflation alone would do that, but throwing in population too makes it obvious.
How could they not?
The worshipping at the altar of falling rates increasing revenue never ever ever look at population realities. Drop rates, increase the number of people paying the taxes, of course revs will increase. How could they not?
A generalized inadequate respect for multi variate math exists.