Re: Tax Cuts Don't Boost Revenues

gjohns01@[EMAIL PROTECTED]
 wrote:
> On Feb 19, 7:42 pm, Stevie Nichts <nix2nic...@[EMAIL PROTECTED]
> wrote:
>>gjohn...@[EMAIL PROTECTED]
 wrote:
>>
>>>No amount of evidence will ever convince usenet Republicans that you
>>>can't get something from nothing, but here's more evidence proving
>>>that wrong anyway.
>>
>>>http://www.time.com/time/magazine/article/0,9171,1692027,00.html
>>
>>Yet again, that ****tion of the article which you carefully ignored
>>guts your post - but you knew that.
>>
>>---
>>And how did things work out? Laffer is convinced that the
>>reduction of the top tax rate from 70% to 28% during the Reagan
>>years paid for itself--in part by encouraging the rich to stop
>>finagling--and the evidence mostly backs him up. "You find these
>>enormous responses in the upper brackets," Laffer says. "These
>>guys fire their lawyers and accountants and actually pay their
>>taxes. Yay! Isn't that what we want them to do?"
>>---
>>
>>"..and the evidence mostly backs [Laffer] up," as even the
>>snarky writer concedes. Could it possibly be that the whole
>>truth is more complex than your either/or universe?
> 
>  Laffer didn't bother to produce any stats to back his statement up.
> You know why?
> Because they don't exist.
>   Studies have been done (one of them by the Concord Coalition) that
> shows that revenue gains caused by
> increased economic activities from Reagan's tax cuts only paid for 17%
> of the tax cuts.
> 
>   I also noticed that you didn't bother to address that even Laffer
> never claimed that Dubya's tax cuts paid for themselves.
> 
> The fact that Laffer won't admit to the obvious discredits him, and
> his theory.
>   The fact that you won't...ah, well. You don't have any credibility
> anyway.

The Laughable curve was just a ruse, an excuse to transfer wealth from
the middle class to the rich.  It was transparently ridiculous economics
but worked just fine as a fig leaf for radical conservative ideology.

--Jeff

-- 
It is only those who have neither
fired a shot nor heard the shrieks
and groans of the wounded who cry
aloud for blood, more vengeance, more
desolation.  War is hell.
--William Te***seh Sherman