Posted on 10/24/2004 7:18:40 AM PDT by Entrepreneur
Snips from the column...
Marginal tax rates explain virtually all of this difference [in the amount worked by Europeans and Americans]...
We should stop focusing our attention on the recent tax cuts and, instead, start thinking about tax rates...
We should roll back the 1993 tax rate increases and re-establish those from the 1986 Tax Reform Act...
Lower rates would increase the labor supply, output would grow and tax revenues would increase...
Some say that the 1993 tax-rate hike was responsible for erasing this country's debt problems because it increased government revenues. This is false...
Lower tax rates are good for all taxpayers. We're barking up the wrong tree if we think that "taxing the rich" will solve all our problems...
Tax [the two wage-earner] family too much, one wage-earner will drop out, and that's not only bad for the income of that family but also for the output of the whole economy--and will result in lower tax revenues...
Also, we need to get away from thinking of the rich as some sort of permanent class. Many of the individuals who show up on annual millionaire lists, for example, are people who happened to have a good year...
If we establish rules that punish the winners, entrepreneurs will take fewer risks and we will have less innovation, less output, less job growth...
People, be they European or American, respond to taxes on their income...
(Excerpt) Read more at opinionjournal.com ...
This is an important analysis by a Nobel winner.
I for one have worked hard all my life...but if sKerry wins I'm going to join the ranks of the unemployed and welfare as should millions of other Republicans. It about time we put the Democrats policies to work. Free health care, welfare income...and Democrats happy to pay it.
And when the French do work...it's crap.
But later in the article, he implies that Europeans do just as much work as US workers, only outside the official economy.
I'm sure the French do a very fine job when they renovate their own summer residences, or restore their own antique cars.
This tax hike is sure responsible for recession in 2000.
Sarcasm Pasta...Sarcasm it was meant as Sarcasm!
"We should roll back the 1993 tax rate increases and re-establish those from the 1986 Tax Reform Act...
Lower rates would increase the labor supply, output would grow and tax revenues would increase... "
But Liberals don't care beans about taxes - they only care about power. They have power over us so long as they can take money from the producers and give it to their supporters, the looters.
I think that is actually a great idea. Like in ATLAS SHRUGGED, that is what the producers did. They got tired of being LOOTED.
Yes but really --- why work? Under the democrats, you would live better if you don't work --- you would have all the housing, free health care, more food -- more everything if you didn't work --- if you do work they'll just take it all away to give to the others.
ping to self
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