Politicspolitics

Wed Jan 9, 2019, 07:07 AM

Even the paste eating Paul Krugman admits the Laffer Curve exists.

So why not tax them at 100 percent? The answer is that this would eliminate any incentive to do whatever it is they do to earn that much money, which would hurt the economy. In other words, tax policy toward the rich should have nothing to do with the interests of the rich, per se, but should only be concerned with how incentive effects change the behavior of the rich, and how this affects the rest of the population.

-- Paul Krugman

19 replies, 331 views

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Reply Even the paste eating Paul Krugman admits the Laffer Curve exists. (Original post)
Charlie Mike Jan 2019 OP
Valishin Jan 2019 #1
Charlie Mike Jan 2019 #2
GoldwatersSoul Jan 2019 #5
FreeWheelBurning Jan 2019 #4
Arne Oker Jan 2019 #19
Bob the Bilderberger Jan 2019 #3
Let it go Jan 2019 #6
TexMexNext Jan 2019 #7
Let it go Jan 2019 #8
TexMexNext Jan 2019 #9
Charlie Mike Jan 2019 #10
TexMexNext Jan 2019 #11
Charlie Mike Jan 2019 #12
TexMexNext Jan 2019 #13
Charlie Mike Jan 2019 #14
KittyCatIdiots Jan 2019 #15
TexMexNext Jan 2019 #16
KittyCatIdiots Jan 2019 #17
Charlie Mike Jan 2019 #18

Response to Charlie Mike (Original post)

Wed Jan 9, 2019, 08:10 AM

1. The problem with

the Laffer Curve is that nearly everyone who argues against it does so from a drastic misunderstanding. They seem to assume it's an attempt to declare which side of the peak an economic system is on at any given point in time. That is not the case, all the curve does is illustrate that there is a peak and that beyond the peak you get diminishing returns. It does not attempt to define where you are on the curve nor does it claim that the position is static.

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Response to Valishin (Reply #1)

Wed Jan 9, 2019, 08:29 AM

2. Do they really misunderstand it or....

...do they understand the implications of being told that not everything is under their control?

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Response to Charlie Mike (Reply #2)

Wed Jan 9, 2019, 09:00 AM

5. My take....

some of the powers that be, can grasp aspects of economics but the whole is elusive.
The Laffer curve is a tool to develop tax policy. The real concept that we deal with everyday is incentive. Taxes like opportunities at profit are incentives. The governments duty is really to stay out of the way of incentive when they can. Unfortunately, taxes also mean government largess which is an incentive to those who wabt low hanging fruit and unfortunately incentive to those who seek to buy votes.

Government action creates incentives no matter what they do. That is why the wealthy generally make money regardless of the actions taken by government.

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Response to Valishin (Reply #1)

Wed Jan 9, 2019, 08:55 AM

4. Perfect summation

It drives me nuts when people deny its existance.

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Response to Valishin (Reply #1)

Thu Jan 10, 2019, 09:14 AM

19. That's true, but it also cuts two ways

For those who don't get what I am saying listen to what the primary promoter of the Laffer Curve, Jack Kemp used to say:

"You get zero revenue at 0% taxation, and zero revenue at 100% taxation."

No argument there! Thing is, then Kemp said we were on the right side of that peak, a claim that I have never seen Kemp, Laffer's enthusiasts, or Laffer himself prove. (Now there are arguable exceptions like Eastern European countries after the collapse of Communism.)

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Response to Charlie Mike (Original post)

Wed Jan 9, 2019, 08:41 AM

3. Tax policy as social engineering

This is one of my biggest problems with the Left - their attempt to use tax policy to affect behavior. In a free society, taxes are collected to pay for the cost of government. Like the price of a loaf of bread or a fishing license, the cost should be the same for every citizen regardless of who they are or their financial circumstances.

Step 1 to restoring America to a free society status is to remove the progressive income tax system.

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Response to Charlie Mike (Original post)

Wed Jan 9, 2019, 10:48 AM

6. Ocasio Cortez is such a disgrace to her alma mater.

I’m beginning to think those professors were as useful as underwater basket weaving.

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Response to Let it go (Reply #6)

Wed Jan 9, 2019, 10:54 AM

7. She's mimicking Sarah Palin

Same stunning stupidity on display, just a different side of the aisle.

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Response to TexMexNext (Reply #7)

Wed Jan 9, 2019, 10:57 AM

8. Palin ran a state.

Ocasio ran a bar. Actually she didn’t even run it. She poured drinks.

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Response to Let it go (Reply #8)

Wed Jan 9, 2019, 11:11 AM

9. LMFAO: My city's government is bigger than Alaska's state gov.

61.3% of Alaska is federally owned. Alaskan state government employees 18,000 people. About the same as Delaware's 17,000 employees. Sarah didn't run jack shit. Sarah P. is a fucking incompetent moron who could not complete one fucking term. I can call out an idiot in my party, because no one should support stupid leaders. Fucking funny as shit to watch you defend the dumbest woman in American political life because of the (R) after her name.

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Response to TexMexNext (Reply #9)

Wed Jan 9, 2019, 11:21 AM

10. Is your city government bigger than a bar?

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Response to Charlie Mike (Reply #10)

Wed Jan 9, 2019, 11:34 AM

11. Yes

That raises Sarah Palin competence level zero %.

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Response to TexMexNext (Reply #11)

Wed Jan 9, 2019, 11:54 AM

12. More like: you're just bitter and angry.

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Response to Charlie Mike (Reply #12)

Wed Jan 9, 2019, 12:03 PM

13. Never attack the idea, always insult the person

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Response to Charlie Mike (Reply #14)


Response to Charlie Mike (Reply #14)

Wed Jan 9, 2019, 03:34 PM

16. I comment on Palins intelligence

You called me names. Name calling is all you got. And that ain’t saying much 😜

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Response to TexMexNext (Reply #16)


Response to TexMexNext (Reply #16)

Wed Jan 9, 2019, 03:41 PM

18. You never fail to outdo your feebleness with your arguments.

And point out where I called you names.

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