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> Given the massive waste and inefficiency in most government programs, very little of our taxes actually go to anything useful. There is very convincing evide
by dnomad 8y ago
> Given the massive waste and inefficiency in most government programs, very little of our taxes actually go to anything useful.
There is very convincing evidence that higher taxes and greater government spending do lead to long term economic growth. These days even the old fuddy duddies at the IMF have been forced to admit that higher taxes don't lower growth [1] and that many times the fiscal multipler is greater than 1 [2]. Certainly from 2008-2015, despite all the austerity hawks going on and on about inefficient government spending, actual evidence indicates the fiscal multipler was nearly 2!
[1] https://www.independent.co.uk/news/world/politics/inequality-imf-international-monetary-fund-high-tax-rich-jeremy-corbyn-a7995826.html https://www.independent.co.uk/news/world/politics/inequality...
[2] https://www.washingtonpost.com/news/wonk/wp/2013/01/03/an-amazing-mea-culpa-from-the-imfs-chief-economist-on-austerity/?utm_term=.8b9c2def2ad0 https://www.washingtonpost.com/news/wonk/wp/2013/01/03/an-am...
- ksk 8y agoIf you wanted to, you could fill a cup of water by dumping a gallon bucket on top of it. The point here is that the government has never been efficient in allocating resources. Also FYI: I'm not a representative or a supporter of the IMF. The fact that some of their people have said things which didn't turn out to be true doesn't concern me. In fact I'd probably expect that most bold predictions don't come true, especially on economic matters.