I can't believe your source only had access to data up to 1992 when they calculated the locus of real wages per hour.
So, where's the rest of the data, have you asked your source?
Remember, you're trying to convince us that this is a good deal for taxpayers.
So, where's the rest of the data, have you asked your source?
Here's the source, only more uptodate since this is 2004 instead of pre-1998 when that chart was generated, your know same place they got the original data, from NIPA:GDP statistics.:
Suggest you spend some time creating a graph of real personal income, as a function of savings/investment. Its an eyeopener. Saving/investment falls with rising taxes, real wage falls even though consumer spending rises. Income taxes will sap a nations economic vitality faster than vampire bats sucking a cow dry.
Economic Burden of Taxation
William A. Niskanen
Presented October 2003
Friedman Conference
Federal Reserve Bank Dallas page 6.
www.dallasfed.org/news/research/2003/03ftc_niskanen.pdf"Given that the elasticity c implicit in recent U.S. fiscal conditions is about 0.8 and the average tax rate is about 0.3, the marginal cost of government spending and taxes in the United States may be about $2.75 per additional dollar of tax revenue. One wonders whether there are any government programs for which the marginal value is that high. Given the estimate of the long-term elasticity c from the U.S. time-series data, the marginal cost of government spending and taxes may be as high as $4.50 at the current average tax rate. "
Chief Executive, The New directions in tax reform -
May 1995.
Tax expert Ernest Christian Jr., a partner with Washington's Patton, Boggs & Blow, reckons these are low estimates or at best incomplete. Citing a U.S. Treasury study which indicates that 6 billion man-hours are consumed each year just in the record keeping for income and payroll tax returns alone, Christian says the true burden on the U.S. economy is probably closer to $1 trillion.
Remember, you're trying to convince us that this is a good deal for taxpayers.
Nope, I am merely reminding folks that the current income/payroll tax system is a disaster to the nation and need to go for reasons much more profound that just a good deal for taxpayers. Tax reform and changing the mode of taxation is a good deal for every American, whether they pay taxes today or not.
- "The income tax in effect makes us vassals to the government – the politicians decide how much income we can keep. No mere “reform” of this slave tax, such as flattening the rate, can correct its fundamental denial of control over our own money. Only the abolition of the income tax itself will restore the basic American principle that our income is both our own money and our own private business - not the government's."
- "Replacing the income tax with a national sales tax would rejuvenate independence and responsibility in our citizens. True economic liberty and moral revival go hand in hand."
- "A national sales tax would also put the American citizen back in control of national fiscal policy. The best way to curtail government spending is to cut taxes, because they can’t spend what they don’t get. But with a sales tax, we could deny funds to a spendthrift government – and give ourselves a tax cut – whenever we make the private choice to alter our spending and saving habits."
| I discussed the importance of abolishing the income tax because of its tendency to form a habit of servility in the souls of a people that accepts it. Servility of soul is bad not only in itself, it is also an open door through which will soon walk the abuses of ambitious government power. Leaders who find themselves with governmental power over a servile people will be quick to conclude that such a people exist to serve them. |