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Better yet, how do the minimum wage, workers compensation, and the ObamaCare laws not punish employers for everytime they hire someone? When central banks intentionally raise interest rates to slow the economy by making loans more expensive, aren't they in affect raising taxes? Right there you have an example of government institutions which know how higher private sector costs affect economies and routinely practice this knowledge. Hence, it's self evident that tax hikes increase costs and stimulate less economic activity. BTW libs, don't look at it technocraticaly like you usually do. It's not a math issue as much it is an INCENTIVES issue. The limiting(therefor depressing) aspects of your phony zero sum game premise don't work. There isn't fixed level of tax revenue but a dynamic level of tax revenue in existence. The private sector isn't a river where you can divert 50% of the water away so there's 50% of the river water left over. The more you tax the private sector, the more you leach away its life blood. And no, people don't work harder to compensate for higher taxes. Saying so just makes you prove that bloated government is tyrannical and enslaves people. The private sector isn't always going to be there for the looting! If anything, people just resort to more incriminating activities so they can make a living. And don't say we have to pay higher taxes to fund roads, public schools, pensions, etc. because "they didn't build that on their own" Obama claptrap. Businesses aren't concerned about the government shutting down as much as they're concerned about additional regulations and confiscatory taxes. Incentivizing production is how the private sector subsidizes public sector so it can drink the water instead of carrying the water. Conservatives are winning elections because voters are fed up with government harassment and not seeing a return on the taxes they paid. The Keynesian argument of injecting artificial demand into the economy doesn't work. Artificial demand comes from government which makes decisions based on the short term politics of getting reelected and not economics of saving for the long run. Finally, don't tritely accuse me of being rascally Republican because i'm not a Republican new-jersey a Democrat. I don't advocate a social nanny state like Democrats because it conditions people to work less for themselves and more for the government. Nor do i advocate subsidizing defense for foreign nations like Republicans because it conditions them to spend less on their own military and depend more on us. Both of these reasons are one in the same. Utopian statism is all it is.
Jon, I'm not suprised the word "hoarding" wasn't brought up by a lib. So your saying we should punish people for saving now? So these rich people HOARD the wealth? You call bank accounts which lend money out to collect interest HOARDING? You call investing in stocks and bonds to finance companies or towns is a means of hoarding?
When ask in the 2008 debates Obama said higher rates are not about revenue they are about fairness. He said this even after the moderator pointed out higher capital gains tax rates historically decrease revenue. In other words he is willing to sacrifice revenue and economic growth for the sake of his interpretation of fair. He seem to forget about the people that aren't rich that lose their jobs in his quest for fairness. I bet they don't think it is fair.
I think the question is quite simplistic, naive even. By targeting tax increases incrementally, at unearned and unproductive sources of wealth, e.g. capital gains, land, etc, the tax burden can be shifted from income to wealth, thus avoiding the problem of which you speak, increasing incentives for the vast majority of the population to work, as well as relieving certain assets of inappropriate value store functions, encouraging channelling of wealth back into the economy proper. There is also a difference between that income arising directly through incremental labour, and income arising through rent-seeking behaviour, and there are other distinctions besides, and a nuanced view is required, such as draws a distinction between those forms of taxation which might appear to tax extra individual work, and those which actually do not. It's important sometimes, also, to tax some activities which lead to excessive hoarding of wealth (hoarding it removes it from the economy) where in fact the government is likely to circulate it better, thus increasing demand and monetary velocity. Additionally, where tax cuts have been inappropriately given to the ultra-rich, as under George Bush II, repeal of those cuts is necessary to balance the budget and stabilise the economy. For these reasons, as well as others, tax increases can raise revenues overall. Edit - in response to questioner's rant about my using the word hoarding, I have to point out that saving money does remove it from the real economy, thus reducing demand. Here in the UK people mainly put it into real estate property, which overinflates the latter's value, leading to all sorts of economic problems. I think this simultaneous aversion to tax and to book-learning on the part of the author, combined with his propensity to rage at length, may be very unhealthy.
It's illustrative of leftist easy-mindedness to see feedback comparable to, "tax cuts blow holes in the deficit--we can not 'have enough money' them", or " we can't have a tax cut except we have the option pay for it." regardless of the lessons of historical past, liberals are not able to grab the inspiration of a dynamic economic system in which reducing tax charges raises economic undertaking and brings more sales to the federal government. This is not a idea, it can be a demonstrated truth. Throughout President Reagan's administration, top tax charges have been reduce from 70% to twenty-eight%, and earnings to the government close to doubled in eight years. Leftists do not wish to talk about it, however when Clinton signed off on a discount in capital good points taxes, income from cap beneficial properties transactions accelerated--when you consider that the diminish tax charges motivated more transactions. Alternatively, they are attempting to tell us that earnings tax price increases are the rationale for Clinton's just right economic system--truly laughable. The one different reason behind liberals' perspective about tax cuts is that they particularly be aware of the economic benefits of tax cuts, however is not going to go there due to the fact that they would instead punish the wealthy than grow the economy.
There is much you do not understand. The only taxes that serve as a disincentive are the ones that are meant to be disincentives. Like higher capital gains taxes; buy and hold and don't sell. And second; taxes do not limit the supply of capital. Government spending goes into the economy just as any other spending. You presume certain people are most worthy to have and control the money. Also, there has never been a point in time where taxes hurt the US economy.
The middle class does not collect welfare. Everyone else does. The elite each collect as much as thousands of the poor. The mega yacht crowd and the politicians they own do not care in the least what happens to the American People. With their “New World Order” now in place they make their money worldwide and intend to reduce the American People to where the Chinese were last century. The big investment for working people was social security and medicare. I only invested in this for 40 years or so. Some people invested much more. The mega yacht crowd wants that eliminated to make sure they pay no tax. They still want their subsidies (welfare) also.
Ask Ryan, his plan drastically increases taxes on the Middle Class while lowering Capital Gains tax (primary source of income for the rich) to zero.