Politics

[Hunt anything]

Do you agree with all the opinions and statements of your country’s elitists? I highly doubt all Americans would say
what the military commander said. Besides, that clown is a puppet fulfilling an agenda. lol. Also, we really don’t need for any of you to buy our products if you don’t want to. We’ll survive it. LMAO

Our military commander in chief just happens to be our president.

 

[LivingTheDream]

You could certainly make the argument that a low personal income tax rate would result in even greater unfettered growth; however, if we are operating within the confines of providing a certain level of government services without running a deficit, it seems to me that lowering the corporate rate is the better trade-off.

Then again, I am not an economist. I believe Tyler Cowen (who actually is an economist and someone who I greatly respect) wrote some articles/papers about this, so I will have to dig for those when I have the time

I think you make a great point here "certain level of government services". I think that is where we would debate on what is the appropriate level of government services.

I will look into Tyler Cowen and see if I can find some of his works.

 

[WAB]

There have been numerous studies that suggest a high personal income tax paired with a low corporate income tax is best for economic growth without running a deficit. This seems to be a popular strategy in many European countries, including Finland and Sweden. Just something to chew on when we discuss tax rates.

Saul, you’re going to get excommunicated from the Democrat party for suggesting a lower corporate tax rate!

 

[WAB]

I would argue that a high corporate income tax is more of an impediment to growth and innovation.

You could certainly make the argument that a low personal income tax rate would result in even greater unfettered growth; however, if we are operating within the confines of providing a certain level of government services without running a deficit, it seems to me that lowering the corporate rate is the better trade-off.

Then again, I am not an economist. I believe Tyler Cowen (who actually is an economist and someone who I greatly respect) wrote some articles/papers about this, so I will have to dig for those when I have the time.

Personally I would like to see low corporate rates, a flat tax on income, and a use tax on goods and services.

Low corporate taxes encourage reinvestment in country. Many don’t understand that corporate tax differentials cause money to move globally, to the detriment of countries with high corporate taxes.

Flat tax on income eliminates perverse incentives on greater earnings.

Use taxes tax actual consumption, ensuring those who consume pay, regardless of residency or citizenship.

 

[John Wasmuth]

President Crapshispants claims during an interview that “When I took office the inflation rate was 9.1%…..”….. not a chance you moron, it was 1.4% according to the talking head that was interviewing him. Yet another load of crap from that inept bag of crap.

 

[Brent in Az]

President Crapshispants claims during an interview that “When I took office the inflation rate was 9.1%…..”….. not a chance you moron, it was 1.4% according to the talking head that was interviewing him. Yet another load of crap from that inept bag of crap.

If Biden's lips are moving..... he's lying.

 

[John Wasmuth]

If Biden's lips are moving..... he's lying.

Exactly

 

[WAB]

I think you make a great point here "certain level of government services". I think that is where we would debate on what is the appropriate level of government services.

I will look into Tyler Cowen and see if I can find some of his works.

Read Frederic Bastiat’s treatise ‘the law’. It speaks directly to the appropriate role of government in society. It is a foundational work on governance and economics.

 

[John Wasmuth]

Why are we not surprised…..

https://www.washingtonpost.com/politics/2024/05/09/va-bonuses-top-executives-pact-act-improper/

 

[Saul]

I think you make a great point here "certain level of government services". I think that is where we would debate on what is the appropriate level of government services.

I will look into Tyler Cowen and see if I can find some of his works.

I think you will like Tyler Cowen. He is an economist at George Mason University. He also runs a blog called Marginal Revolution.

 

[Saul]

Read Frederic Bastiat’s treatise ‘the law’. It speaks directly to the appropriate role of government in society. It is a foundational work on governance and economics.

I think you would greatly appreciate “The Rise and Decline of Nations” by Mancur Olson. A little dry for some, but it is the most comprehensive analysis I have read of what you described.

With regard to a consumption tax, are you concerned about how it would impact GDP?

 

[LivingTheDream]

I think you would greatly appreciate “The Rise and Decline of Nations” by Mancur Olson. A little dry for some, but it is the most comprehensive analysis I have read of what you described.

With regard to a consumption tax, are you concerned about how it would impact GDP?

I actually would be a big fan of consumption tax. I actually think it would have a positive on GDP since people would have more incentive and money to invest.

 

[LivingTheDream]

Read Frederic Bastiat’s treatise ‘the law’. It speaks directly to the appropriate role of government in society. It is a foundational work on governance and economics.

I actually read that a long time ago. I mean a long time ago, probably could use a refresher.

But I would say that is probably why we have economic data all over the place is we have deviated from the foundations of government.

 

[WAB]

I think you would greatly appreciate “The Rise and Decline of Nations” by Mancur Olson. A little dry for some, but it is the most comprehensive analysis I have read of what you described.

With regard to a consumption tax, are you concerned about how it would impact GDP?

That’s a very good question, however, given the choice between taxing production or consumption, I feel consumption is more aligned with wealth creation.

I also believe in minimal government. In my mind, we are paying at least 4x too much for government, simply because the government involves itself in things it should not. Just because something is a good idea doesn’t mean the government should be doing it! When you are next in DC look at some of the activities supported by our federal tax dollars. There is an entire block dedicated to the participation of women in the arts. I support the participation of women in the arts, but in which reality is it appropriate for the federal government to spend our money on it?

 

[WAB]

I think you would greatly appreciate “The Rise and Decline of Nations” by Mancur Olson. A little dry for some, but it is the most comprehensive analysis I have read of what you described.

With regard to a consumption tax, are you concerned about how it would impact GDP?

I will definitely get ahold of the work you suggest.

 

[WAB]

I will definitely get ahold of the work you suggest.

I have been researching it. As an adherent of Austrian economics, it appears that I will agree with some of his theses and disagree with others. It is always good to evaluate other approaches to a problem. Thank you for suggesting it.

 

[Brent in Az]

A bill that will die quickly in the Senate, or at the very most, be vetoed by the grifter - in- chief

 

[Saul]

That’s a very good question, however, given the choice between taxing production or consumption, I feel consumption is more aligned with wealth creation.

I also believe in minimal government. In my mind, we are paying at least 4x too much for government, simply because the government involves itself in things it should not. Just because something is a good idea doesn’t mean the government should be doing it! When you are next in DC look at some of the activities supported by our federal tax dollars. There is an entire block dedicated to the participation of women in the arts. I support the participation of women in the arts, but in which reality is it appropriate for the federal government to spend our money on it?

My concern is that a consumption tax would fall particularly heavily on essential purchases, thus having an outsized impact on the middle and lower classes. Further, it seems to me that it would disincentivize spending in general. Finally, I worry that it would have an insidious effect as it could effectively be hidden in the cost of goods.

 

[Saul]

I have been researching it. As an adherent of Austrian economics, it appears that I will agree with some of his theses and disagree with others. It is always good to evaluate other approaches to a problem. Thank you for suggesting it.

I must confess there was a period of my young life where I flirted with Austrian economics. I read a great deal of Hayek, though I never much cared for Mises.

 

[WAB]

My concern is that a consumption tax would fall particularly heavily on essential purchases, thus having an outsized impact on the middle and lower classes. Further, it seems to me that it would disincentivize spending in general. Finally, I worry that it would have an insidious effect as it could effectively be hidden in the cost of goods.

That is a fair point. I do a lot of business in the UK. In fact I am there almost monthly. Their VAT is the most confusing consumptive tax system I have ever encountered. It seems to have created an entire business sector focused on managing it.