Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: lbryce

“Closing these tax breaks would raise $100 billion in a decade”

Nullified by the concurrent loss in revenue as businesses shrink operations, move operations overseas, and employee numbers shrink.
So their projected revenue from this will likely actually be in negative integers.


17 posted on 03/14/2015 12:15:41 PM PDT by Darksheare (Those who support liberal "Republicans" summarily support every action by same.)
[ Post Reply | Private Reply | To 1 | View Replies ]


To: Darksheare

And is exactly what happened when Congress passed the luxury tax on yachts in 1990. The tax of 10% was placed on new yachts built in the USA. The tax did not cover used yachts or yachts built outside the USA (and presumably registered outside the USA). Well, everyone knows what happened. The tax raised almost no money and several yacht manufacturers went out of business and the net effect of Revenue - Expenditures was actually negative. Sales tax revenue fell as yacht sales fell, unemployment compensation payments went up as yacht workers were laid off etc.


42 posted on 03/14/2015 12:31:10 PM PDT by Maine Mariner
[ Post Reply | Private Reply | To 17 | View Replies ]

To: Darksheare
So their projected revenue from this will likely actually be in negative integers.

As Zippy once said, it's about redistribution.

51 posted on 03/14/2015 12:41:09 PM PDT by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
[ Post Reply | Private Reply | To 17 | View Replies ]

To: Darksheare
. Closing these tax breaks would raise $100 billion in a decade,

No, it wouldn't. It will just be another $100 billion going into the pockets of politicians and their cronies. When that 'decade' ends, they will be demanding $100 trillion in taxes to be spread over the 'next' decade.

63 posted on 03/14/2015 1:00:42 PM PDT by UCANSEE2 (Lost my tagline on Flight MH370. Sorry for the inconvenience.)
[ Post Reply | Private Reply | To 17 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson