Not for long.
Hauser's law is based on the observation that, no matter how high or how low the tax rate, feral government revenue averages 19.5% of GDP.
Income tax revenue comes from income. If you want less of something, tax it.
Only if people have taxable income to tax.
I think most intelligent America are getting tired of this BS. Same talk over and over with nothing of substance therefore no changes and we are toast.
The +20% of GDP tax revenue will only be temporary. The historical average of tax revenue in the US is aprox. 17.5% of GDP irregardless of rates. What the article and the CBO fail to account for is changing economic behavior of taxpayers. It’s called ‘Tax Avoidance’. Working less, spending less, and/or something called the ‘black market’. Earners will do whatever they have to keep as much as they can. It’s historical...
I say give in to Obama’s ludicrous offer. If we are going down the tubes, better that we get to it quickly. Give him what he wants, voice our reservations and let him own it outright. Then he will have no one to blame for the catastrophe, and maybe, just maybe, socialism (or ‘progressivism’) will be discredited for a few generations. Unfortunately, the damage will be so great, that it will take forty years to recover, but the economic Apocalypse is coming either way. Going over the cliff at 45 mph, frankly, is not better than going over at 90 mph.
I say give in to Obama’s ludicrous offer. If we are going down the tubes, better that we get to it quickly. Give him what he wants, voice our reservations and let him own it outright. Then he will have no one to blame for the catastrophe, and maybe, just maybe, socialism (or ‘progressivism’) will be discredited for a few generations. Unfortunately, the damage will be so great, that it will take forty years to recover, but the economic Apocalypse is coming either way. Going over the cliff at 45 mph, frankly, is not better than going over at 90 mph.
Not for long.
Hauser's law is based on the observation that, no matter how high or how low the tax rate, feral government revenue averages 19.5% of GDP.
Income tax revenue comes from income. If you want less of something, tax it.
“...rakes in unprecedented tax revenue”
Who they kidding!!!?
Seriously. no jobs means no industry ...no business..?
Friggin’ loons!!!
Apply within, subject to limitation of 49 employees maximum and less than 30 hours/week/employee with no benefits as stipulated by President Obama and his crooks in the White House. People who voted for this mental midget need not apply.
Bump
Also note that they are training Boner and the rest of the Republicans for their role (ala Bob Dole) as tax collectors for the welfare state.