Economic Collapse 2011?

[stockstradr]

Arthur Laffer

The worst economist. Ever.

Widely viewed with derision, which he worked hard at earning (by being an idiot)

I see a post with some words of wisdom:

The Laffer Curve has not been “thoroughly discredited.”

Exactly.

The Laffer Curve is, well, laughable.

[GH]

I’m not so sure. If taxes were raised to 100% no one would “bother” to go to work and tax revenue would be $0.00

If taxes were reduced to 0% everyone would be pretty happy in the private sector for a while and taxes would be reduced to $0.00

Thus there MUST by definition be a place in between where taxes are maximized. There is some math one is supposed to have learned around age 13 or so called “linear programming” which describes the relationship between cost and profit.

At my last job I was paid hourly and did not bother working OT, since it was taxed at 56%, so at least in my case taxing me at say 33% on my OT might have encouraged me to work more and thus PAY more taxes. I suppose this would not make sense to a government worker, who is concerned only that they get their retirement check when they are done with the drudgery of their work life!

See a movie called “The Island” – substitute the word “Island” with the word “Retirement” and see what a bunch of suckers we all are!!!

[GH]

I’m not so sure. If taxes were raised to 100% no one would “bother” to go to work and tax revenue would be $0.00

If taxes were reduced to 0% everyone would be pretty happy in the private sector for a while and taxes would be reduced to $0.00

Thus there MUST by definition be a place in between where taxes are maximized. There is some math one is supposed to have learned around age 13 or so called “linear programming” which describes the relationship between cost and profit.

At my last job I was paid hourly and did not bother working OT, since it was taxed at 56%, so at least in my case taxing me at say 33% on my OT might have encouraged me to work more and thus PAY more taxes. I suppose this would not make sense to a government worker, who is concerned only that they get their retirement check when they are done with the drudgery of their work life!

See a movie called “The Island” – substitute the word “Island” with the word “Retirement” and see what a bunch of suckers we all are!!!

[GH]

I’m not so sure. If taxes were raised to 100% no one would “bother” to go to work and tax revenue would be $0.00

If taxes were reduced to 0% everyone would be pretty happy in the private sector for a while and taxes would be reduced to $0.00

Thus there MUST by definition be a place in between where taxes are maximized. There is some math one is supposed to have learned around age 13 or so called “linear programming” which describes the relationship between cost and profit.

At my last job I was paid hourly and did not bother working OT, since it was taxed at 56%, so at least in my case taxing me at say 33% on my OT might have encouraged me to work more and thus PAY more taxes. I suppose this would not make sense to a government worker, who is concerned only that they get their retirement check when they are done with the drudgery of their work life!

See a movie called “The Island” – substitute the word “Island” with the word “Retirement” and see what a bunch of suckers we all are!!!

[GH]

I’m not so sure. If taxes were raised to 100% no one would “bother” to go to work and tax revenue would be $0.00

If taxes were reduced to 0% everyone would be pretty happy in the private sector for a while and taxes would be reduced to $0.00

Thus there MUST by definition be a place in between where taxes are maximized. There is some math one is supposed to have learned around age 13 or so called “linear programming” which describes the relationship between cost and profit.

At my last job I was paid hourly and did not bother working OT, since it was taxed at 56%, so at least in my case taxing me at say 33% on my OT might have encouraged me to work more and thus PAY more taxes. I suppose this would not make sense to a government worker, who is concerned only that they get their retirement check when they are done with the drudgery of their work life!

See a movie called “The Island” – substitute the word “Island” with the word “Retirement” and see what a bunch of suckers we all are!!!

[GH]

I’m not so sure. If taxes were raised to 100% no one would “bother” to go to work and tax revenue would be $0.00

If taxes were reduced to 0% everyone would be pretty happy in the private sector for a while and taxes would be reduced to $0.00

Thus there MUST by definition be a place in between where taxes are maximized. There is some math one is supposed to have learned around age 13 or so called “linear programming” which describes the relationship between cost and profit.

At my last job I was paid hourly and did not bother working OT, since it was taxed at 56%, so at least in my case taxing me at say 33% on my OT might have encouraged me to work more and thus PAY more taxes. I suppose this would not make sense to a government worker, who is concerned only that they get their retirement check when they are done with the drudgery of their work life!

See a movie called “The Island” – substitute the word “Island” with the word “Retirement” and see what a bunch of suckers we all are!!!

[moneymaker]

How about a major earthquake in CA! I think most people complain about taxes. but don’t really plan based on them atleast not long term. Otherwise everybody would be cashing out there 401K’s right now. Taxes are going to rise,that’s a given and with no good news economically I would say the odds are the market will be down this time next year.

[moneymaker]

How about a major earthquake in CA! I think most people complain about taxes. but don’t really plan based on them atleast not long term. Otherwise everybody would be cashing out there 401K’s right now. Taxes are going to rise,that’s a given and with no good news economically I would say the odds are the market will be down this time next year.

[moneymaker]

How about a major earthquake in CA! I think most people complain about taxes. but don’t really plan based on them atleast not long term. Otherwise everybody would be cashing out there 401K’s right now. Taxes are going to rise,that’s a given and with no good news economically I would say the odds are the market will be down this time next year.

[moneymaker]

How about a major earthquake in CA! I think most people complain about taxes. but don’t really plan based on them atleast not long term. Otherwise everybody would be cashing out there 401K’s right now. Taxes are going to rise,that’s a given and with no good news economically I would say the odds are the market will be down this time next year.

[moneymaker]

How about a major earthquake in CA! I think most people complain about taxes. but don’t really plan based on them atleast not long term. Otherwise everybody would be cashing out there 401K’s right now. Taxes are going to rise,that’s a given and with no good news economically I would say the odds are the market will be down this time next year.

[joec]

[quote=threadkiller]How about a major earthquake in CA! I think most people complain about taxes. but don’t really plan based on them atleast not long term. Otherwise everybody would be cashing out there 401K’s right now. Taxes are going to rise,that’s a given and with no good news economically I would say the odds are the market will be down this time next year.[/quote]

If it’s really long term, I don’t think people will be doing much with their 401k since over 30-40 years, you will have plenty of changes in tax policy to make adjustments as needed.

Taxes are pretty low now, but folks tapping 401k money at their marginal rate isn’t a sure thing.

[joec]

[quote=threadkiller]How about a major earthquake in CA! I think most people complain about taxes. but don’t really plan based on them atleast not long term. Otherwise everybody would be cashing out there 401K’s right now. Taxes are going to rise,that’s a given and with no good news economically I would say the odds are the market will be down this time next year.[/quote]

If it’s really long term, I don’t think people will be doing much with their 401k since over 30-40 years, you will have plenty of changes in tax policy to make adjustments as needed.

Taxes are pretty low now, but folks tapping 401k money at their marginal rate isn’t a sure thing.

[joec]

[quote=threadkiller]How about a major earthquake in CA! I think most people complain about taxes. but don’t really plan based on them atleast not long term. Otherwise everybody would be cashing out there 401K’s right now. Taxes are going to rise,that’s a given and with no good news economically I would say the odds are the market will be down this time next year.[/quote]

If it’s really long term, I don’t think people will be doing much with their 401k since over 30-40 years, you will have plenty of changes in tax policy to make adjustments as needed.

Taxes are pretty low now, but folks tapping 401k money at their marginal rate isn’t a sure thing.

[joec]

[quote=threadkiller]How about a major earthquake in CA! I think most people complain about taxes. but don’t really plan based on them atleast not long term. Otherwise everybody would be cashing out there 401K’s right now. Taxes are going to rise,that’s a given and with no good news economically I would say the odds are the market will be down this time next year.[/quote]

If it’s really long term, I don’t think people will be doing much with their 401k since over 30-40 years, you will have plenty of changes in tax policy to make adjustments as needed.

Taxes are pretty low now, but folks tapping 401k money at their marginal rate isn’t a sure thing.

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