Posted on 11/15/2019 11:29:26 AM PST by karpov
Alexandria Ocasio-Cortez is absolutely foul!
From the article top earners would pay 70% tax rate when combined when combined with state and local. That’s crazy. Why not just take it all then.
I taught college economics for15 years and when discussing the GDP I always impressed on my students that taxation simply took money from consumption and moved it to government spending with no real increase in GDP as a result. John Maynard Keynes supported his economic theory that government spending results in economic growth by creating an economic multiplier...assuming a dollar of government spending somehow results in more than a dollar in economic activity. Keynes himself said that the multiplier effect could be zero and it often is. AOC’s idea that taxation results in economic growth is not supported in history and tax cuts as instituted by JFK, Reagan, Bush and now Trump have always spurred economic growth.
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