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Old 07-18-2008, 01:20 PM
 
Location: Boise, ID
1,356 posts, read 5,592,974 times
Reputation: 909

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You Can't Soak the Rich - WSJ.com

From the article:
The chart nearby, updating the evidence to 2007, confirms Hauser's Law. The federal tax "yield" (revenues divided by GDP) has remained close to 19.5%, even as the top tax bracket was brought down from 91% to the present 35%.

If it is true then the goal should be a tax policy that grows GDP knowing that the revenues will follow. Of course, lower marginal rates, as demonstrated under JFK and Reagan, lead to a larger GDP.

This seems to be convincing proof validating supply-side economics.
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Old 01-06-2009, 12:24 PM
 
8,925 posts, read 7,892,627 times
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He ignored the effect of government expenditures on the economy and on tax revenues. Federal debt was only growing at 1 percent per year in the Kennedy administration. Today, we have massive spending that's not covered by taxes and the debt doubles every 3 or 4 years.

He also ignored the FICA taxes. Taxes collected for the trust funds were 20% of all revenues in the Kennedy administration. They're now almost half.
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Old 01-06-2009, 09:04 PM
 
48,509 posts, read 86,173,019 times
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You alos have to look at fees which have grown to be a major source of money for governament bodies.Kennedy actually cut txaes in order to stimluate the economy during his time in office.
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