Republican Rewrite of US Taxcode
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floridays
Well-Known Member
Read the damn thing you lazy point of sale (POS).
floridays
Well-Known Member
Why doesn't it? Explain the equation to me professor.
BrownArmy
Well-Known Member
Give me a ten word or less summary of what you think the article you posted says.
I don't think it says what you think it says.
You explain it to me because you're the one promoting it and yet we have never maintained anything like a balanced federal budget with low taxes.
floridays
Well-Known Member
Tax rates decreased means more revenue to government no matter
floridays
Well-Known Member
Moving goalposts lovely. I'm not promoting a thing, simply conveyed an article with truth. The article speaks for itself.
You're the professor, I asked you to explain the equation. I know the answer.
BrownArmy
Well-Known Member
I like how you hit the ten-word mark, but unfortunately your response was incomprehensible.
Let me help you out.
The article you posted basically savages 'trickle-down' economic theory, yet your posts have alternately agreed and disagreed with that notion.
Do you or do you not agree with 'trickle-down' economics, sir?
floridays
Well-Known Member
Thanks for 10 words that's why I stopped. Incomprehensible to you because you lack intelligence. Read the damn thing.
Catatonic
Nine Lives
BrownArmy
Well-Known Member
Guy, I did read it.
Your ten words had nothing to do with the article you posted, which was basically a take-down on ‘trickle-down’...
Never mind.
You keep saying ‘read it, read it’.
Either you haven’t read it, or you didn’t understand what you were reading.
Cheers.
floridays
Well-Known Member
Is FF greater than or less than BS. Don't have keyboard keys to write as equation.
floridays
Well-Known Member
I do, and you didn't and don't. Or you can't understand plain english.
floridays
Well-Known Member
Cheers is the most intelligent thing you've said tonight. Nice attempt to back away with dignity.
floridays
Well-Known Member
If tax rates are cut, history has proven over and over again that revenues increase. No I'm not kidding, I'm stating fact. Anything else?
floridays
Well-Known Member
The facts are unmistakably plain, for those who bother to check the facts. In 1921, when the tax rate on people making over $100,000 a year was 73 percent, the federal government collected a little over $700 million in income taxes, of which 30 percent was paid by those making over $100,000. By 1929, after a series of tax rate reductions had cut the tax rate to 24 percent on those making over $100,000, the federal government collected more than a billion dollars in income taxes, of which 65 percent was collected from those making over $100,000.10
FACT
floridays
Well-Known Member
In other words, high tax rates that many people avoid paying do not necessarily bring in as much revenue to the government as lower tax rates that more people are in fact paying, when these lower tax rates make it safe to invest their money where they can get a higher rate of return in the economy than they get from tax-exempt securities. The facts are plain: There were 206 people who reported annual taxable incomes of one million dollars or more in 1916. But, as the tax rates rose, that number fell drastically, to just 21 people by 1921. Then, after a series of tax rate cuts during the 1920s, the number of individuals reporting taxable incomes of a million dollars or more rose again to 207 by 1925.25 Under these conditions, it should not be surprising that the government collected more tax revenue after tax rates were cut. Nor is it surprising that, with increased economic activity following the shift of vast sums of money from tax shelters into the productive economy, the annual unemployment rate from 1925 through 1928 ranged from a high of 4.2 percent to a low of 1.8 percent.26
FACT
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