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> To every example of a low-tax low-growth economy is a counter example of high-tax still low-growth economy. Despite decades of evidence demonstrating how go
by dnomad 8y ago
> To every example of a low-tax low-growth economy is a counter example of high-tax still low-growth economy.
Despite decades of evidence demonstrating how government spending can produce enormous growth (see eg. the lil' ol' Great Depression, Europe after WW2, China -- really all of East Asia), despite conclusive recent research showing the post-GFC failure of austerity, ideologues will never revisit their outdated ideas. At this point you might as well admit that data and evidence doesn't matter at all and you aren't actually interested in the real world, just your own axiomatic fantasy.
- ksk 8y agoOh, you mean the period when countries were dropping their top marginal taxes? https://ourworldindata.org/grapher/top-mrts-on-individual-income https://ourworldindata.org/grapher/top-mrts-on-individual-in... Its obvious who is living in a fantasy. I prefer to be skeptical of both sides. You are free to chose your own path. Goodbye!
- bobwaycott 8y agoDo you realize this period when top marginal rates began (and continued) dropping overlaps the period when economic growth began (and continued) dropping, as well? It’s almost like dropping those top marginal rates did nothing to spur growth. I mean, it’s like one might actually have to entertain the idea that lowering taxation doesn’t actually lead to massive reinvestment of capital or wage and economic growth we’re promised every time it happens. Or perhaps—just maybe—economic growth isn’t something we can even realistically anticipate to obtain as a constant.