tag:blogger.com,1999:blog-3758330678390419129.post8651882436019972771..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: "One of the Most Dramatic Increases in the Standard of Living in the World, Ever"Robert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3758330678390419129.post-34725372080487450152017-10-24T15:59:26.912-04:002017-10-24T15:59:26.912-04:00Isn't the important point here: "They rej...Isn't the important point here: "They rejected the idea of spending more than the government raised in taxes - instead aiming to keep a year's spending as a reserve." If you are going to lower tax rates and revenues, isn't it essential to also lower expenses? When has this been done where the Laffer Curve idea was promoted? This is not macro economics, but "household&Dwighthttps://www.blogger.com/profile/15603153065912441315noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-83017295086299818422017-10-23T21:01:48.974-04:002017-10-23T21:01:48.974-04:00I did not 'say' the curve was legit. I exp...I did not 'say' the curve was legit. I explained it's premise, it's glaring faults, and why what was done in HK was not "Lafferism". I did not preach anything let alone a "sweet spot" of taxation. Thus it seems you want to create an argument out of nothing for the sake of arguing. <br /><br />Ideally taxation would be zero, but that's not going to happen Jimmy Joe Meekerhttps://www.blogger.com/profile/09559104650594440766noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-23893756063547254342017-10-23T13:36:12.165-04:002017-10-23T13:36:12.165-04:00So you're saying the curve itself is legit, bu...So you're saying the curve itself is legit, but the "sweet spot" is indeterminate? That's my belief, BTW. Too much tax results in "diminishing returns" for the Govt. Of course, I think ANY taxation is evil, so my "sweet spot" on the curve is that tiny spot right at the beginning where the value is ZERO!<br />Capn Mikehttps://www.blogger.com/profile/08133441332228302495noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-69777158965068599842017-10-23T10:09:07.357-04:002017-10-23T10:09:07.357-04:00Lafferism assumes there is an is an ideal maximum ...Lafferism assumes there is an is an ideal maximum revenue tax rate that is somewhere in the middle of the curve. The curve shows low revenues for tax rates lower than this ideal. We don't know if this peak is where we consider taxes low or high or anywhere else. <br /><br />An issue with the laffer curve is that the planners don't know where they are on it. So if they keep taxes "lowJimmy Joe Meekerhttps://www.blogger.com/profile/09559104650594440766noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-35789722860811202972017-10-22T23:35:16.184-04:002017-10-22T23:35:16.184-04:00They [Hong Kong Authorities] rejected the idea of ...They [Hong Kong Authorities] rejected the idea of high taxes - instead keeping taxes low, believing that private investment would earn high returns, and expand the long-term tax base.<br />I'm sorry, Robert, but isn't that "Lafferism"?Capn Mikehttps://www.blogger.com/profile/08133441332228302495noreply@blogger.com