You will note that the same Party that opposed the SS Act is the one floating proposals to cut it.
Medicare will be on the block too, because of reduced tax revenues from the wealthy and from businesses.
Pretty simple really, talk one game and play another. Plus, that damned Laffler curve/supply side voodoo economics shit.
Medicare will be on the block too, because of reduced tax revenues from the wealthy and from businesses.
Pretty simple really, talk one game and play another. Plus, that damned Laffler curve/supply side voodoo economics shit.
Quote:Is the Laffer Curve Too Simple a Theory?
There are some fundamental problems with the Laffer Curve — notably that it is far too simplistic in its assumptions. While the curve assumes that societies function on a single tax rate and a single supply of labor, that can’t be further from the truth.
In reality, public finance structures are much more complex. The curve does not take into account how revenue is affected by multivalued tax rates. Simply, the fact that any increase in the tax rate to a certain percentage may not necessarily equate to the same revenue as a decrease in the tax rate. The curve also does not take into account any avoidance of taxes at any level.
There is also the assumption that an increase in revenue from tax cuts will likely lead to more jobs. That isn’t necessarily true in today’s environment. More companies are becoming technology-focused and are relying less on human labor.
And that means more and more businesses are likely using these tax reductions to buy computers rather than go on a hiring spree. We also didn’t see that following the 2007-2008 financial crisis. Many of the companies that benefited from government bailouts following the crisis did not use them to create jobs; they saved the money to increase their dividends or make capital investments.
Read more: Laffer Curve https://www.investopedia.com/terms/l/laffercu...z5JqlbcqIW
Quote:The same ones want to reduce peanut social security from little old ladies.
