Posted on 07/05/2024 8:13:27 PM PDT by SeekAndFind
There is a point on the Laffer curve where reducing rates decreases revenue. However, taxes have never been reduced so much to find that point.
And despite the tax rates, the Fed revenue is between 15 to 20% of the GDP.
To raise revenue, the government needs to figure out how to maximize GDP growth.
With our massive debt and deficits they are not.
When we get to or past the inflection point then revenues will decrease YoY. Hasn’t happened. Probably will never happen.
Spending has nothing to do with revenue. Cutting spending does not affect revenue and vice versa. Anyone that is married knows this.
Cutting spending just means there is more to spend on the next shiny thing that catches their eye.
Reducing the debt is what is critical. Soon, the interest on the debt will be the ONLY thing the government can afford.
...just a little more to get them to the grave.
...then, BOOM (reality)!
(who cares, bye suckers, LOL!).
We could raise revenues by taxing all of those illegals working under the table. And we could collect a bunch of social security taxes from them as well.
It’s not that ALL of those Immigrants are horrible people. It’s that they are reaping the benefits of the country without paying “their fair share.”
THATs what our immigration discussion needs to include.
“Spending has nothing to do with revenue. Cutting spending does not affect revenue and vice versa. Anyone that is married knows this.”
Nonsense. Cutting spending reduces how much revenue you are looking for, which reduces how much government tax pain you want to inflict on the economy, which means with big spending cuts you could reduce the tax rates, which which would reduce costs of businesses, which would make them more productive, which can increase expeceted tax revenue. EVERYONE knows that.
Thanks for sharing.
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