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I think that's the point this article is trying to make, is it not? The point is that higher taxes lower TOTAL GDP. So that even if taxes are raised, taxes co
by pragmatic 18y ago
I think that's the point this article is trying to make, is it not?
The point is that higher taxes lower TOTAL GDP. So that even if taxes are raised, taxes collected as a percentage of GDP remain the same.
So the only way to increase the actual amount of collected taxes is to increase GDP as top marginal tax rates don't matter.
Hence, if higher marginal taxes on the rich really do hurt the economy, they will effectively lower tax collection not increase it.
Now, do higher marginal tax rates hurt the economy?