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I wonder what makes anyone thing executives contribute enough to be paid these outrageous amounts.
The market. They're paid that much because the companies want them and pay them a lot to keep them despite the great difficulty of the job. It's called competition.
Quote:
Originally Posted by GregW
The Laffer Curve makes me laugh because of the complete absurdity of the idea.
So the concept that between:
A 100% tax that kills productivity and ultimately results in no revenue for the government
And a 0% tax that helps productivity but also results in no revenue for the government
... there is a spectrum of tax rates resulting in different corresponding productivity rates and revenue rates
I do know exactly what they are. Incorporating them would make my examples MORE extreme, not less extreme.
You know, there's actual data that I'm basing my statements on that you can look up if you want. Samples have even been posted in this very thread several times! Imagine, actual data to form opinions on!
Facts confuse them. The facts don't match the propaganda rhetoric with which they've been brainwashed.
The market. They're paid that much because the companies want them and pay them a lot to keep them despite the great difficulty of the job. It's called competition.
So the concept that between:
A 100% tax that kills productivity and ultimately results in no revenue for the government
And a 0% tax that helps productivity but also results in no revenue for the government
... there is a spectrum of tax rates resulting in different corresponding productivity rates and revenue rates
Simple facts and numbers are too much, eh? Have to resort to moronic cartoons? It's OK, we take pity on you. We will try to not make fun of you too much.
Interesting cartoon. Insert the phrase, "in this country", into the narrative and that fairly accurately describes the behavior of multinational corporations. Combine that with the feds antipathy toward small business (determined by what they do, not what they say) and it's little wonder companies choose to offshore while domestic competition is hijacked...
I really wish we could all just accept the laffer curve as reality then go about finding the actual point on the curve that properly balances the need for government revenue and private sector activity.
this debate over what tax rate is right is getting old.
I really wish we could all just accept the laffer curve as reality then go about finding the actual point on the curve that properly balances the need for government revenue and private sector activity.
this debate over what tax rate is right is getting old.
In a closed loop system where the U.S. could sustain itself without the need of anything foreign it would be an effective tax rate of 50%.
In the real world where the political leaders are trying as hard as they can to convince themselves and Americans that they'll be able to provide a better life for themselves and their children all the time that 50% level falls flat on its face.
The more we have to compete on a global scale the lower and lower that effective tax rate has to go and since it really can't get much lower we had to start charging stuff to the company (Federal Government) credit card.
It's simple really. Raise taxes to the 50% and start paying off the debt and you'll see exactly where your standard of living is suppose to be and after about 40 years or so you'll see this as your GDP per capita (PPP) $11,800 in 2011 dollars. Actually it will be a little higher but only because of technological advances and such.
Currently the GDP per capita (PPP) was $48,100 in 2011.
Now here's the kicker. You can keep funding your false lifestyle with lower taxes and more debt but all that really means is that when you hit rock bottom it's going to be a crash of monumental proportions. Right now it's just going to be horribly sucky to adjust to a new way of living for most Americans. Given the path we're on, in probably less than a decade or so, the crash will reach the monumental proportions level and it won't just be horribly sucky anymore, it'll be absolutely sick-like and will be something that makes the mythological Greek Gods, and their tragedies, jealous.
Considering all that was already occurring and had been for decades now how silly does Obamacare look when put into the grand scheme of things. You already didn't have the money for your already failing social safety net and now you'll have even less money because of Obamacare.
That graph is your refrence to how monumental the epic fail is going to be.
Now here's the kicker. You can keep funding your false lifestyle with lower taxes and more debt but all that really means is that when you hit rock bottom it's going to be a crash of monumental proportions. Right now it's just going to be horribly sucky to adjust to a new way of living for most Americans. Given the path we're on, in probably less than a decade or so, the crash will reach the monumental proportions level and it won't just be horribly sucky anymore, it'll be absolutely sick-like and will be something that makes the mythological Greek Gods, and their tragedies, jealous.
Burger flippers earning minimum wage and living in SRO housing are living way beyond their means and need to learn to live with even less than they have now?
The upper end of "fair" to me is somewhere in the 30 to 40% range. "Taxes are the price of civilization", up to that point.
The bigger picture for me is what my taxes are paying for.
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