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 Replies: 23 / Views: 5,438 |
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Valued Member
United States
206 Posts |
Quote:
Raising taxes is definitely not the answer. Anyone who thinks so (that includes most Democrats) need to take remedial courses in both Economics and Calculus. We're on the other side of the curve pass the maximum (Tax Revenue). We need to reduce the Tax Rate to increase Tax Revenue. . Danester - I'm going to respectfully disagree - but I definitely appreciate that you brought this up. Our government's domestic tax and dollar policy have a lot of implications for us PM investors, so I thought I would give you my perspective. The reason why the Laffer curve doesn't work here is because corporate taxes (not individual taxes) have already been significantly reduced. Corporate tax revenue makes up the larger part of the total revenue collected by our government, so I'm singling out business taxes specifically. What this extremely high unemployment rate has given to our corporations is essentially a massive tax cut. If you take a look at productivity numbers you'll see that they are way up across the board. This means that the massive (15-25%) reduction in payroll hasn't reduced the amount of goods produced. Infact, the level has actually increased! go figure, right? If the production costs of a good drop by 15% the company is keeping more of every dollar made. In other words, a classic tax cut. My argument against Laffer is that even with this incidental tax decrease, tax revenue has not increased nearly enough to cover our spending. We need to raise taxes. (and yes, we need to spend less) It's a hard pill to swallow - I was out of work for a little while and have now taken a position in a higher tax bracket than I was before. I understand the pinch a tax increase puts on the average family - so let's be reasonable about our taxation. Let's increase corporate taxes - any business that grosses 90 million or more in revenue annually. This leaves out small businesses and mom and pops. Let's go after the big boys (Visa, Coca Cola, Bank of America, etc) and raise taxes on them all. They are already profiting from unemployment. The reason why I say Laffer's curve doesn't apply is because it doesn't account for under-taxation (unemployment) that isn't measured by classic taxation standards. Cheers on bringing it up! |
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Pillar of the Community
United States
1348 Posts |
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Valued Member
 United States
213 Posts |
It has been 6-months.......... how has the economy been working out for you?
"The reason why the Laffer curve doesn't work here is because corporate taxes (not individual taxes) have already been significantly reduced. Corporate tax revenue makes up the larger part of the total revenue collected by our government, so I'm singling out business taxes specifically"
So photoeric21, give us the numbers and sources for your above claims.
Your major flaw is not taking into consideration that business and corporations create new jobs and do the hiring, thus increasing tax revenues - not individuals like us.
Proven mathematical formulas are impossible to be "talked down" from the correct answers.
In example, go jumping off a 100-story building and then try convincing yourself and others the formula for gravity doesn't work in this situation, and that we can expect you'll have a soft landing.
That is what you have done here concerning of the Laffer Curve. Numbers don't lie.
Edited by Danester
11/12/2011 7:07 pm
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Pillar of the Community
United States
4008 Posts |
Quote:
It has been 6-months.......... how has the economy been working out for you? Pretty well, actually. Some time ago, I invested in oil and gas company stocks, agricultural commodities, and physical silver bullion. All of these are working pretty well at the moment. Not that I am in any way immune to the pain and suffering of my fellow citizens. Unemployment is WAY too high for our nation's good... and it definitely is not the silly 9% number that the government keeps telling us it is. Try 16-18% and you will be MUCH closer to the truth of it. Neither is inflation at the currently stated 3.6-3.8% as the Fed and the government keep saying. It is a lot closer to 10-12% than it is to 4%. But, silly me, I count the costs of food and fuel in my calculations, unlike the Fed. Why do I do that? Because they are necessary for life and there are no substitutes for them! One trip to the gas station, heating oil company, or grocery store will completely put the lie to the inflation numbers that the government and the Fed are spewing. The so-called mainstream media is fully complicit in all this, as they are not fact checking these extremely important numbers as they would do if they were not in on the hoax. Because of this, it is necessary to access the alternative media available on the Internet. Using multiple sources allows us to zero in on the truth so that we do not have to depend on the comfortable lies that currently pass as "news". As a scientist, I do not play fast and loose with the numbers when it is politically convenient for me to do so. Unfortunately, the Fed and the government have no such qualms. Real scientists do not have political agendas. They respect the truth above just about all else and dedicate their lives to its discovery and dissemination. Those who do not hold truth in the highest regard are not scientists, IMO, no matter what academic credentials they may hold. Profligate spending by the government at various levels has emptied the national and treasuries, so even more must be borrowed to continue the illusion that we are not in a depression. They do not want to have a sheeple stampede on their hands, so use soothing words (lies) to calm them down. |
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Valued Member
United States
213 Posts |
Ron Paul has a good handle on all this, but his remedy for it (the one that is really needed and the true answer) will in the beginning be like a child made to swallow Castor Oil.
Ron can't win the Republican nomination, and he knows it. But he's smart enough use the the Republican TV Debate "face-time" to get his message out. I'm sure we will see Ron Paul run as a third party Libertarian candidate.
Who will be his running mate? My best guess is Ex-Governor Jessie "The Body" Venture. Many will laugh, but I predict it will be a strong bid for the White House - the time is right for Ron and Jessie. PAUL-VENTURA.
The young people will back this ticket. That's what made the difference in Minnesota.
Back to the Gold Standard - then we CoinCommunity members can pay off our home mortgages with our modest Silver and Gold holdings. It's not that far fetched, and could happen no matter who is in the White House. I think of it as the inevitable "Final Bail-Out" for We The people that is long past due!
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New Member
United States
9 Posts |
Good post photoeric21! The Corporations don't pay the taxes because they have the resources to lobby Washington and write the rules. People who don't like the facts are always asking for proof even if they have no proof themselves.
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Bedrock of the Community
United States
10038 Posts |
Our US history has proven that at times when the US people were given their own money to spend, the entire economy booms. Even Democrats of old knew this - JFK's policy was to lower taxes so America could prosper. In one of his speeches concerning this he said taxes are raised to slow the economy - taxes are lowered to let it gain ground. This was also Reaganomics (despite the media saying Clinton's idea of raising taxes was what JFK said - check it out yourself).
When the people have money, they spend. When they spend, industry picks up. When industry picks up and business owners are allowed to keep more of their profit, only the ones looking to go out of business store all their profits in a sock somewhere. The ones who will prosper and stay in business, b/c of competition, will re-invest to stay on the cutting edge. Their re-investing makes more jobs and more, overall tax money collected while everyone has a better quality of life.
Even the Warner Brothers cartoons of old taught this as it USED to be such a logical common-sense concept that they were teaching it to kids through cartoons. Nowadays the higher education system has such an anti-capitalism mindset that capitalism has become the brunt of all evil to a bunch of people in OWS. OWSs do not even understand that capitalism, competition, and lower taxes is what has always brought out nation prosperity (and it leaks out into the rest of the world).
If corrupt spending/paybacks; and false, politically-motivated causes were ousted, we would not need to have to pay so many taxes. Billions of the tax money thrown into the stimulus projects has disappeared. Taxation never was, and never will be the answer. Productivity, capitalism, freedom, competition, and letting the people enjoy spending their own money their own way has always created greater markets, jobs, and a better way of life for everyone. This is how America grew to be a world power.
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Moderator
 United States
188770 Posts |
Five posts in a six six month old thread, and the only mention of "Precious Metals & Bullion - Gold, Silver, Copper, Platinum" was by Ed_B regarding his investments. Guys, this forum is not for Politics. We have a General Discussion Forum for this. You are free to continue this discussion there. Actually, I encourage it. I have no problem with the discussion, just the forum.  |
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Replies: 23 / Views: 5,438 |
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Posted 05/17/2011 3:48 pm
