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Art Laffer's excellent
column in today's WSJ (Taxes,
Depression, and Our Current Troubles )
set me in motion. Excellent because Laffer has an ability to
distill
weighty economic theory down to a simple, easily digestible
syrup.
While recognizing that I hardly qualify to sneer at anybody's
intelligence quotient, there are two areas where I most certainly
do. Anybody promoting
the notion of man caused climate change, or anybody claiming that
Reagan's adherence to Laffer Curve
principles was a disaster, is too freaking stupid
Inbreeding
to be taken seriously on any matter. These three
short videos are guaranteed to confer upon the viewer a better
understanding of tax policy than possessed by any elected Democrat in
the nation . Period. Even watching the first 3
minutes of L1 may suffice. Watch, and enjoy hilarity
like this from L3:
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Here's
a real-world example. Back in 1989, I worked for Senator Bob Packwood
of Oregon. As the ranking Republican on the Finance Committee, he sent
a letter to the JCT, asking how much tax revenue would be raised if the
government confiscated every penny of income about $200,000. What did
the JCT say? On your screen, you can see Senator Packwood's November 14
floor statement in the Congressional Record.
As the Senator explained, the JCT estimated that this 100 percent tax
rate would collect $104 billion in 1989, rising to $299 billion in
1993. And when Senator Packwood asked the bureaucrats whether this was
realistic, they gave him the same revenue estimate, but included a
footnote stating "that these estimated taxes do not account for any
behavioral response." This is sort of like the fiscal equivalent of
"other than that, Mrs. Lincoln, how did you like the play?" (Laffer
3)
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For a lack of common sense...
ReplyDeleteToo much to expect from politicians.
Every cowardice Rep that succumbed to Liberal policy equates them to the mess we are in today. Who among these idiots will STAND-the-fuck-UP? before we hemorrhage until death.
The Chicago Carbon Exchange closed. Wha? You didn't see that on the alphabets?? Hmmm, there were only 2 gazillion stories when it opened and how it would stop AGW.
ReplyDeleteOh well, another pile of crap left by pREgressives-time to move on in the search for the next problem to be solved(that is, used to lord their superior intellect over us clingers).
MM
And Laffer famously states that 'people with means and money vote with their feet.' Hence he ditched California years ago.
ReplyDeleteoy vey ole'
Now, at this to the list of political stupidity. Oh, and a "fear of coconuts"
ReplyDeletehttp://tinyurl.com/2fwxntg
Laffer's Thoery: Reducing Taxes will enhance government revenue.
ReplyDeleteBadanov's Corollary to the Laffer Theory: If government revenues become enhanced when taxes are reduced, taxes are much too high.
The mistake we make too often is we think politicians have our best interests at heart and just disagree on how to get there. They dont. They are busybodys who feel compelled to run our lives because we're so stupid. It's blatent in the dems attitude toward women and minorities. And taxes. They dont care how you suffer, they just want control. Look at Zimbabwe. Same thing.
ReplyDeleteTim
Yep, Tim.
ReplyDelete