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Brass Oldies
John
Tuesday, October 26, 2010 at 11:49 AM
John
Tuesday, October 26, 2010 at 11:49 AM
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Tottaly agree. High tax rates only make people sequester their money. Healthy or rising tax revenues do not just depend on a dollar amount that is initially invested. Tax revenues rise systematically as those dollars are spent over and over again. So as the rate of dollar turnover increases so does everybody's income and hence, tax revenues. EVERYBODY wins in a case like this. NOBODY wins when tax rates are high. Government's job should be to use historical data to determine the tax rate threshold that above which inhibits taxpayer spending and below which encourages taxpayer spending and produces maximal tax revenues. And then set the rates at a level that maximizes income and therefore, tax revenues.