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Arthur Laffler on Calif: Mowed Down by Taxes
Wall Street Journal ^
| Oct 2, 2003
| Arthur Laffler
Posted on 10/02/2003 2:31:15 AM PDT by The Raven
Edited on 04/22/2004 11:50:01 PM PDT by Jim Robinson.
[history]
SAN DIEGO -- California's recall effort is based 100% on the state's fiscal crisis. Listen up candidates: California's progressive (steeply graduated) tax structure is the cause of the fiscal crisis, which itself is the first-born of the union between fuzzy logic and misplaced emotions. Hurting the prosperous is not an honorable objective, and hurting the prosperous does not help the poor, which is an honorable objective. There is no solution to California's crisis save redressing the fundamental premise underlying California's progressive tax codes.
(Excerpt) Read more at online.wsj.com ...
TOPICS: Business/Economy; Editorial; Government; News/Current Events; US: California
KEYWORDS:
We as a group need to get a quick, effective response to the "tax the rich" jargon.
1
posted on
10/02/2003 2:31:15 AM PDT
by
The Raven
To: All
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2
posted on
10/02/2003 2:32:27 AM PDT
by
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To: The Raven
Sorry, really truly sorry, I am not exercised about libertarians until thy are committed to my social concerns. I will vote correctly but I will remain quiescent.
To: The Raven
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4
posted on
10/02/2003 4:04:24 AM PDT
by
DoctorZIn
To: The Raven
Laffer, of course, is right except for the corporate taxes. Every business's customers pays for its corporate taxes. In other words, they're just passed on to us. So better to do away with the corporate taxes altogether. Business risks are lowered and businesses are more competitive. Better to increase personal taxes to make up for the losses than to have indirect taxation that increases the costs and risks of businesses to accomplish the same thing.
To: The Raven
"We as a group need to get a quick, effective response to the "tax the rich" jargon."
I have one: "Who do you think will spend money more wisely, more productively: the rich or the government?"
If they say "the rich", I say, "Then don't take money from them and give it to the government."
If they say "the government", I say, "Give me one example of where the government spends money more wisely, efficiently, and cheaper than private enterprise."
F.S.
6
posted on
10/02/2003 5:23:51 AM PDT
by
Forgiven_Sinner
(Praying for the Kingdom of God.)
To: B.Bumbleberry
" Laffer, of course, is right except for the corporate taxes. Every business's customers pays for its corporate taxes. In other words, they're just passed on to us. So better to do away with the corporate taxes altogether. Business risks are lowered and businesses are more competitive. Better to increase personal taxes to make up for the losses than to have indirect taxation that increases the costs and risks of businesses to accomplish the same thing."
You are correct. This is Milton Friedman's point of view. The only exception I can think of are foreign corporations. They would not be taxed and their US profits would flow to foreign stockholders. I would tax any profits that flow out of the US.
7
posted on
10/02/2003 5:26:23 AM PDT
by
Forgiven_Sinner
(Praying for the Kingdom of God.)
To: Forgiven_Sinner
How much harm does increasing taxes do to the wealth of the nation?
8
posted on
10/02/2003 1:06:47 PM PDT
by
The Raven
(<==see my home page!)
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