To: rhema
Second, as tax rates rise, the tax base shrinks and ultimately, as Art Laffer has long argued, tax rates can become so prohibitive that raising them further reduces revenue—not to mention damaging the economy. That is where U.S. tax rates are headed if we do not control spending soon.
The author is wrong. That is not where tax rates are going, it is where they already are. We have been on the wrong side of the curve since the Johnson administration.
4 posted on
07/18/2011 6:41:20 AM PDT by
GonzoGOP
(There are millions of paranoid people in the world and they are all out to get me.)
To: GonzoGOP
I wonder what China’s effective tax rate is?
18 posted on
07/18/2011 7:14:06 AM PDT by
for-q-clinton
(If at first you don't succeed keep on sucking until you do succeed)
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