Doesn't economics show that lower tax rates usually promote a stronger economy that actually produces more tax revenue overall...seems I remember that from economics classes at EKU.

 

No, not quite. Many people make that claim, including the candidates when they rely on so-called “dynamic scoring” to claim their tax cuts won’t impact the deficit. This is not a consensus position in economics and this use of “dynamic scoring” is merely a rhetorical sleight to avoid facing hard truths.

 

Some tax cuts have probably had this effect. When the tax rate for the highest earners ($400,000+ a year) was dropped from 91% to 77% under Kennedy (1963) it opened up new ground for compensation and thus people earning it. When taxes are already relatively low (by historical and country-to-country comparisons) and claims are made that cutting them further will lead to monstrous economic growth that will more than offset the revenue, the evidence is mostly conjectural. I will note here that the “Laffer curve” is, well, a curve. Tax cuts stop being effective for producing revenue at a certain point.

 

For example, the Bush tax cuts (the top rate dropped from 39% to 35%) were claimed to pay for themselves through sustained economic growth. They did not. Didn't put a dent in it. And now we have candidates promising even more drastic cuts and claiming they won’t need commensurate spending cuts to eliminate the deficit. This is fantasy.

I'm with SF, would gladly pay more in taxes to get universal healthcare and college tuition. I already have these things but think they would be good for the country. Glad to make the sacrifice.

 

In truth though, Bernie won't get any of that stuff done. None of the candidates will get anything done. Nothing. Not a single thing. Congress is broken broken broken beyond repair. Country is divided hopelessly.

 

So I support Bernie because he is the only decent human being among the bunch. Cruz and Trump and HRC are horrible people.

 

My two cents.

 

Perfect post !

Can someone post a quick list of countries that are currently a socialist

society?

I wonder if those who would gladly pay more in taxes are currently forgoing tax credits and deductions they're entitled to when they file their annual tax returns?

I wonder if those who would gladly pay more in taxes are currently forgoing tax credits and deductions they're entitled to when they file their annual tax returns?

 

I tried to pay more taxes last year than the IRS said that I owed. They sent me a substantial check along with a letter saying that I had made a mistake on my return. I knew that I was correct, so I went to the trouble of calling the IRS, and after being on hold for 45 minutes told them that they had incorrectly changed my return and sent me a refund. She puts me on hold to talk to a supervisor and then comes back and tells me that they were correct and that it was ok to cash the check. I argued for a couple of minutes and then finally gave up. Then......last month I received another letter along with a bill telling me I had 15 days to repay the refund check that I shouldn't have received.:banghead:

 

So from now on, I plan on taking every credit and deduction that I can, even those that may fall in the grey area.

I wonder if those who would gladly pay more in taxes are currently forgoing tax credits and deductions they're entitled to when they file their annual tax returns?

We all know the answer to that.

I tried to pay more taxes last year than the IRS said that I owed. They sent me a substantial check along with a letter saying that I had made a mistake on my return. I knew that I was correct, so I went to the trouble of calling the IRS, and after being on hold for 45 minutes told them that they had incorrectly changed my return and sent me a refund. She puts me on hold to talk to a supervisor and then comes back and tells me that they were correct and that it was ok to cash the check. I argued for a couple of minutes and then finally gave up. Then......last month I received another letter along with a bill telling me I had 15 days to repay the refund check that I shouldn't have received.:banghead:

 

So from now on, I plan on taking every credit and deduction that I can, even those that may fall in the grey area.

 

You are now probably on the audit watch list. I'd be careful now.

I count anything I possibly can on my tax returns. The person I go to gives me a list of what I can use. I don't have the list anymore but my wife has it memorized and we keep a document each year of what we turn in and go by it. We get a lot more than I could have even imagined when we started doing this.

I just became a BIG Cruz fan!!!

 

jk, he's still not worth it.

CNN says middle class income is $47K-$141K annually. That's a pretty big range.

I was waiting for someone to jump in and claim that this wasn't accurate. But no one from the left is doing that. Instead they just say, "well I'd rather pay more and do more for our country".

 

Granted, the candidates won't do exactly what their plan says, but if they did...this is pretty accurate? If so, who in their right mind could possibly vote for Bernie Sanders? Or even Hillary Clinton for that matter. I guess if you're money wasn't a top priority for you, but for me it is, much more than most of what they discuss.

Just out of curiosity, I put in a single person, with 2+ kids, at just $16,000 (figuring full-time, but at only minimum wage)...and under Sander's plan, it came out $1,760 more! Is this for real?

Just out of curiosity, I put in a single person, with 2+ kids, at just $16,000 (figuring full-time, but at only minimum wage)...and under Sander's plan, it came out $1,760 more! Is this for real?

 

Socialism at it's finest! Doesn't lift the bottom up, it drags everyone else down.

I paid for my own education. I'm paying for my Oldest as well ( youngest earned his own). I also pay for a large part of my Heath care

Why should I have to pay for others in addition to mine and my dependants? Dad had no college, the house I grew up in just sold for 67,000. Pay your own way. I'm tired of people telling me who I have to support. I give to charities. The ones I choose, not the one some clown decided I need to pay for. People need to take ownership of their own lives.

 

Great post. My sentiments exactly.

I'm with SF, would gladly pay more in taxes to get universal healthcare and college tuition. I already have these things but think they would be good for the country. Glad to make the sacrifice.

 

In truth though, Bernie won't get any of that stuff done. None of the candidates will get anything done. Nothing. Not a single thing. Congress is broken broken broken beyond repair. Country is divided hopelessly.

 

So I support Bernie because he is the only decent human being among the bunch. Cruz and Trump and HRC are horrible people.

 

My two cents.

 

Why should college be free? Cheaper, sure, but not free. It is an investment, often the first young people make. They are investing in themselves.