Biden just indicated, that he would preserve Trump tax cuts

[tabzer]

Laffer curve is cut taxes to bring in more revenue

Laffer curve is a chart that shows the relationship between revenue and tax rate. There is a point where taxes are too low. There is a point where taxes are too high. If your goal is less revenue then it is possible for taxes to be both too high and too low at the same time.

Starve the Beast cut taxes to increase the deficit and to reduce gov spending

I'm not sure that works in a country where debts are written off and never paid.

 

[Deleted User]

... The Economic arguments are flawed because all said Theories rely on the fact that the input of Taxes equate to the actual sum owed to the Country.

That is not the case with the many Corporate Loopholes to avoid Taxes altogether.

So on top of losing money that is rightfully the Country's and, by definition, the Citizen's, there is the bad Optics of fiddling around with Tax Rates with each new Government.

It feels more like Diversionary Tactics intentionally placed by those that gain the most for the Average Citizen to be baited into arguing either side without paying as much attention to recouping lost Taxes as they should.

I believe, whichever side of the Tax Cuts one is at, everyone can agree that those that are paying Zero Taxes should be chased down first before arguing the next Economic Policy.

 

[SG854]

Laffer curve is a chart that shows the relationship between revenue and tax rate. There is a point where taxes are too low. There is a point where taxes are too high. If your goal is less revenue then it is possible for taxes to be both too high and too low at the same time.



I'm not sure that works in a country where debts are written off and never paid.

Which they use the Laffer Curve to try to bring in more Revenue.

Many Republicans argue that they use the Laffer curve to find the optimal amount, the point of tax rate that will bring in the most revenue. They say their goal for the tax cuts is to bring in more tax revenue.



Which contradicts the other belief of starve the beast. You say you are not sure if that works in a country where debts are written off and not paid. So then why are Republicans like Trumps top financial advisor Larry Kudlow have this belief? Have the belief to starve the beast.

As he said in this quote here

Tax cuts impose a restraint on the size of government. Tax cuts will starve the beast… Specifically, tax cuts provide a policy incentive to search for market solutions to the problems of Social Security, health care, education and the environment.”

https://www.forbes.com/sites/teresa...lan-for-social-security-starve-the-beast/amp/



So are they trying to bring less revenue or more revenue? They are contradicting themselves.

 

[Xzi]

Which they use the Laffer Curve to try to bring in more Revenue.

Many Republicans argue that they use the Laffer curve to find the optimal amount, the point of tax rate that will bring in the most revenue. They say their goal for the tax cuts is to bring in more tax revenue.



Which contradicts the other belief of starve the beast. You say you are not sure if that works in a country where debts are written off and not paid. So then why are Republicans like Trumps top financial advisor Larry Kudlow have this belief? Have the belief to starve the beast.

As he said in this quote here



https://www.forbes.com/sites/teresa...lan-for-social-security-starve-the-beast/amp/



So are they trying to bring less revenue or more revenue? They are contradicting themselves.

"Starving the beast" is their ultimate goal, the laffer curve is just one of many convenient excuses used by Republicans to help get them there.

 

[SG854]

"Starving the beast" is their ultimate goal, the laffer curve is just one of many convenient excuses used by Republicans to help get them there.

They say they want market solutions for social security, health care, education and environment.

As Larry Kudlow says they want to starve the beast so they can crush them as government funded programs and switch them to free market programs. That's the goal of starve the beast.

They starve the beast by cutting taxes. And again Larry knows that cutting taxes reduces tax revenue. Since that's the point of starve the beast.

Laffer Curve is just a snake oils sales man pitch.




David Stockman, Bruce Barlett, Larry Kudlow

That makes three people that worked under Regan during his presidency that knows and admitted openly that tax cuts reduces revenue

 

[tabzer]

Many Republicans argue that they use the Laffer curve to find the optimal amount, the point of tax rate that will bring in the most revenue. They say their goal for the tax cuts is to bring in more tax revenue.

This presents a possible contradiction, because if taxes are already too low, tax cuts are not going to bring in more revenue. You can use the Laffer curve to rationalize raising or lowering taxes for less or more revenue.

I don't know how they plan on "starving the beast" without there being other government agencies being potential casualties. How do you pick one government managed thing and say,"we are going to starve that out, and nothing else?"

 

[Xzi]

I don't know how they plan on "starving the beast" without there being other government agencies being potential casualties. How do you pick one government managed thing and say,"we are going to starve that out, and nothing else?"

You don't, the Republican party ultimately wants private enterprise to carry out all of government's functions, thus replacing it entirely. Obviously there are a lot of problems with that idea, not the least of which being that many public services cost money rather than bringing in a profit. We probably wouldn't even keep fire departments under that kind of oligarchy.

 

[tabzer]

You don't, the Republican party ultimately wants private enterprise to carry out all of government's functions, thus replacing it entirely. Obviously there are a lot of problems with that idea, not the least of which being that many public services cost money rather than bringing in a profit. We probably wouldn't even keep fire departments under that kind of oligarchy.

Though that seems to be the ideaologic principle, I'm not sure I believe that to truly to be an end-goal of most Republicans. Once politicians gain a position, they tend to want to keep it, and influence policy that would benefit those who'd benefit them in turn.

 

[Xzi]

Though that seems to be the ideaologic principle, I'm not sure I believe that to truly to be an end-goal of most Republicans. Once politicians gain a position, they tend to want to keep it, and influence policy that would benefit those who'd benefit them in turn.

They'd just get hired on as some do-nothing consultants at various corporations making millions a year, and possibly have just as much power as they did in government.

 

[tabzer]

They'd just get hired on as some do-nothing consultants at various corporations making millions a year, and possibly have just as much power as they did in government.

So more government with less accountability. I think that more or less applies to politicians across the whole spectrum.

 

[Xzi]

So more government with less accountability. I think that more or less applies to politicians across the whole spectrum.

To a greater extent with Republicans than Democrats, but yes, ultimately both parties are capitalists first, everything else second. Otherwise the 13th amendment would've been changed to abolish ALL slavery decades ago.

 

[Foxi4]

The Laffer curve is not an argument for or against lowering taxes, all the theory states is that tax revenue equals zero when the tax rate is 100% (zero productivity, nobody works for free) or 0% (no tax collected equals no revenue), and that there's an optimal middle point between those two.

 

[SG854]

This presents a possible contradiction, because if taxes are already too low, tax cuts are not going to bring in more revenue. You can use the Laffer curve to rationalize raising or lowering taxes for less or more revenue.

I don't know how they plan on "starving the beast" without there being other government agencies being potential casualties. How do you pick one government managed thing and say,"we are going to starve that out, and nothing else?"

Cutting taxes from the previous Democrat presidency. Not cutting taxes that was already implemented by a Republican since they were already cut. Unless they believe they can go lower.


Like I was saying and Xzi clarified they want to switch gov programs to a private enterprise. They believe the free market is superior, and they are trying to reach their goal by starving thr beast.


Whether or not this is most Republicans end goal we don't know. But one important republican that had this as his end goal was Trumps top financial advisor Larry Kudlow. His thoughts and goals on this carries more weight then any other Republican because he was the one working directly with Trump as the top guy. So you can be sure that was also Trumps end goal.


Also 2 of Regans advisors, David Stockman & Bruce Barlett, got first hand experience of the effects of their tax cuts on the Economy. This isn't someone reading a textbook on Republican hypothesis of how the cuts will affect the economy. These are two guys with real world experience so their thoughts carry more weight.

They also provided reasons as to how they were able to increase revenue by changing up the tax policies, and they pointed out that other factors besides tax cuts brought in more cash. Like one being raising the tax several times during Regans presidency. If they say that tax cuts don't equal growth after first hand experience of their policies then I take them more seriously.