Posted on 06/07/2010 2:12:53 PM PDT by Comrade Brother Abu Bubba
Arthur Laffer explains how proposed January 2011 tax hikes could be creating terrible unintended consequences today, and are setting the stage for an epic collapse next year.
People can change the volume, the location and the composition of their income, and they can do so in response to changes in government policies.
It shouldn't surprise anyone that the nine states without an income tax are growing far faster and attracting more people than are the nine states with the highest income tax rates. People and businesses change the location of income based on incentives.
Likewise, who is gobsmacked when they are told that the two wealthiest AmericansBill Gates and Warren Buffetthold the bulk of their wealth in the nontaxed form of unrealized capital gains? The composition of wealth also responds to incentives. And it's also simple enough for most people to understand that if the government taxes people who work and pays people not to work, fewer people will work. Incentives matter.
The result will be a crash in tax receipts once the surge is past. If you thought deficits and unemployment have been bad lately, you ain't seen nothing yet.
(Excerpt) Read more at online.wsj.com ...
They are fully aware of that little factoid.
The goal is the destruction of our economy and our government.
New tagline...
We should probably be sending ideas like this out to as many people as possible who understand the tax issue.
Another thing is anyone who has any (distant) links to Palin or nominees for the upcoming elections to urge them to make it a big issue in their public speeches.
Preaching to the choir. I think most reasonably minded American's understand these points which is why we're seeing so much upheaval during the primaries and why the Usurper in Chief's and Congress' approval ratings are at all time historic low's.
A lot of people don’t know what’s coming. Talk-show hosts need to be telling them and Congressmen are certainly not the choir and historically have yielded with enough voter pressure. (Again, this is what happened with Reagan in the early 80’s.)
Of course I know that a lot of people including talk-show hosts prefer whining and complaining. Sometimes I wonder if there’s a conflict of interest with some of these “conservatives” because if these things were fixed, there’d be nothing to complain about and the subject matter for conservative talk shows could dry up.
You’ve discovered the trap!!! ;-)
I meant the sheeple aren’t aware of that little factoid. Most of the democrat congress? I’m not so sure. They are so concerned about getting re-elected, it is hard to know what they truly believe in, other than re-election.
Obama, his cronies, Pelosi, etc. They know. See my tagline.
If anyone thinks this only applies to Democrats, they haven't been paying attention.
Agreed! Although I think there is the possiblity that some of the democrats want the destruction of the U.S. of A. as we know it. I would hope that the others (D&R), while concerned for their own little power-hungry piece of the pie - aren’t KNOWINGLY furthering it’s destruction.
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