[quote]DrSkeptix wrote:
100meters wrote:
BostonBarrister wrote:
100meters wrote:
Can peoples reads?
My point remains arguing the causation is silly, because uh, yeah there’s more to the economy than the tax rate. Taxes can be higher and the economy can still make significant gains (and has) and taxes can be cut a whole lot and not make a difference at all (2001) or just barely (2003). So it follows a president can be a tax raiser and reap enormous benefits, or be the ultimate tax cutter and have anemic results (GWB).
You’ll remember I said,
Taxes will be raised and everything will be fine.
Yes, both can happen.
And my point was different - that your correlations weren’t informative.
Let’s refocus: What sort of effect would you expect raising of marginal income tax rates to have, ceteris parabus, on the production of income? Same question, but with regard to raising the investment tax rates (cap gains and dividends) on investing?
hmmm…for me, to refute higher taxes destroy the economy, the 2 charts I linked to (real gdp/per admin and change in personal tax%—because as is obvious to most, your marginal rate is not actually the percentage of your income you pay in taxes) make the basic point.
You could (or anyone) of course point us to charts or data that show how yes, the higher tax rates of democratic presidents have sunk their respective economies compared to the economies of republican presidents.
and yes I understand the CW of taxes.
Of course the government can increase personal income by cutting taxes/and/or spending. The question is how effective is it when those cuts are actually deferrals, well not that effective because at some point the costs have to be paid for…
So can the gov. borrow a boatload of cash and boost GDP, hell yeah! It just comes at a cost later, the GHWB to RR if you will.
100–
I don’t mean to be a referee here, but BB is making valuable points. Would you care to address just 2 of them:
–“marginal tax rate changes do…”
–“ceteris paribus.”
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He can’t and hasn’t been able to since he began posting here. He’s the domestic version of Lixy.