Ike's election platform
- Thread starter danmand
- Start date
I don't and I won't take credit for the Laffer Curve but I'm using it to illustrate the law of diminishing return of high/rising tax rates.
The Laffer curve has been discredited years ago and no serious economist takers Laffer seriously.
"In reality there is am equilibrium which can be achieved whereby the government collects the maximum tax without adversely affecting economic activity. the amounts are the subject legitimate debate, however, in such a debate it is necessary to separate the rhetoric from the empirical evidence."
I was actually agreeing with the above statement. That raising tax rates above a certain point produces no extra tax revenue. I think that is also the broad principle espoused in the Laffer Curve but he took it to a bit of an extreme.
I like the Singapore tax system. Tax rate is 0-22% and I think offshore income is exempt. So, I am not proposing a tax rate of 0% (don't know where someone got that crazy notion). On the other hand, I hope that none of the lefties are proposing a tax rate of $100%.
I was actually agreeing with the above statement. That raising tax rates above a certain point produces no extra tax revenue. I think that is also the broad principle espoused in the Laffer Curve but he took it to a bit of an extreme.
I like the Singapore tax system. Tax rate is 0-22% and I think offshore income is exempt. So, I am not proposing a tax rate of 0% (don't know where someone got that crazy notion). On the other hand, I hope that none of the lefties are proposing a tax rate of $100%.
Last edited:
I don't know anyone arguing for a 100% income tax bracket. Getting up into the high 80s would be acceptable to me.
