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... or Economics 101.
The Laffer Curve and the reasons why raising taxes on the rich and/or raising taxes across the board won't necessarily bring in the expected revenue is explained in this excellent 6 minute video
It's a shame the President won't listen to the counsel of one of his former top economic advisers on this matter but as we know by now because the President has explicitly said so, the raising of the tax rate on the rich hasn't anything to do with actual deficit reduction via increased tax revenues rather making sure everyone pays their fair share... a fair share in a progressive tax regime where the rich already pay a disporportionate amount of the nation's income tax.
Is it any wonder then why we have not been able to rise up out of this economic slump when the man in charge is more concerned with class warfare than sound economic policy.
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Friday, November 23, 2012
Video clip of the day...
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2 comments:
An outѕtаnding share! I've just forwarded this onto a colleague who had been conducting a little homework on this. And he in fact ordered me dinner due to the fact that I stumbled upon it for him... lol. So allow me to reword this.... Thanks for the meal!! But yeah, thanx for spending time to discuss this topic here on your blog.
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It's not about raising money. It's about punishing people you hate.
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