Soaking the rich doesn’t work

[finnbow]

To the OP (and anyone else): Do you honestly believe that there are rich people who would willingly forgo tax breaks at 35%, but would start looking for them when the top marginal rate hit 39.6%. Same question for capital gains: How many rich people are going to forgo investments in equities when the cap gains rate goes from 15 to 20% (still half the rate of taxation on ordinary income).

If you believe either, you either have no clue about human behavior, taxation or investment strategies.

[Rajoo]

House Speaker John A. Boehner (R-Ohio) and Senate Majority Leader Mitch McConnell (R-Ky.) sat for their first joint TV interview ever for this Sunday's "60 Minutes" on CBS.

In a clip released by the network in advance, reporter Scott Pelley asks Boehner and McConnell to assess some of Obama's proposals delivered during his address to Congress. They're dismissive of Obama's idea to provide tax breaks to middle-income Americans at the expense of the wealthy and a plan to provide free community college to eligible workers, arguing that it would only add to the national debt.

http://www.washingtonpost.com/blogs/...d1394&hpid=z10

[piece-itpete]

Back when 'Clinton lowered' capital gains the government economists had a pretty good idea how much more tax revenue it would generate, so yes, the rate matters. It's also known that money flows from high tax rate areas to low ones. I find the argument that rates don't matter to be an interesting one.

Pete

[finnbow]

Originally Posted by piece-itpete

Back when 'Clinton lowered' capital gains the government economists had a pretty good idea how much more tax revenue it would generate, so yes, the rate matters. It's also known that money flows from high tax rate areas to low ones. I find the argument that rates don't matter to be an interesting one.

Pete

Even the (in)famous Laffer curve says that revenues go up until somewhere around a marginal rate in the middle between 0 and 100%. Looks like around 50% to me.

[piece-itpete]

Ah so, thanks. So we need to figure out the sweet spot? No wonder it keeps changing.

Pete

[BlueStreak]

Low wages for our workers is what doesn't work. Colossal fortunes stashed in offshore accounts by greedy pigs who are afraid someone other than themselves might benefit from it is what doesn't work. Giving tax cuts to people who don't need them and most likely, will just stockpile it in the Caymans with the rest of their loot is what doesn't work.......

That's what we've watched go on for the last few decades as the country swirls down the commode.

Do you realize what a total Putz you are?

Dave

[finnbow]

Originally Posted by piece-itpete

Ah so, thanks. So we need to figure out the sweet spot? No wonder it keeps changing.

Pete

For the GOP, the sweet spot is always below what it currently is, even though the current rate is less than it was under St. Ronnie, peace be upon him.

[BlueStreak]

Originally Posted by finnbow

For the GOP, the sweet spot is always below what it currently is, even though the current rate is less than it was under St. Ronnie, peace be upon him.

No shit.

Heil Ronnie!

Dave

[Boreas]

Originally Posted by BlueStreak

No shit.

Heil Ronnie!

Dave

Gipper akbar!

[nailer]

Originally Posted by Boreas

Gipper akbar!

Bonzo's keeper is rolling over in the grave.