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Under your formula, there were no tax increases from 1977 to 2009 (where the GDP grew)... we all know that's absurdly wrong.
I don't think you did. I also don't think the numbers you posted backup that contention either.
Under your formula, there were no tax increases from 1977 to 2009 (where the GDP grew)... we all know that's absurdly wrong.
Huh?
Not a single chart you posted includes a graph of GDP. Based on the numbers you posted, the GDP increased from 1977 all the way to 2009. Only in 2010 the GDP decreased to the year before. AFAIK, there were no tax increases in 2009.
While you're making these charts, could you also include the numbers of tax payers? It's not like there wasn't an increase in population and an extension of the retirement age throughout those years. Obviously, receipt numbers are also dependent on the number of persons paying taxes.
OK...
You should learn by now to know my intent... Even when I say it wrong... Listen to what I mean, not what I say.
Sorry for the confusion.
Increasing taxes decrease the economy relative to the growth it would have had. It grows less. If things were static without inflation, would decrease GDP.
Oh, I also assume that tax credits are not included in those numbers?
But GDP growth isn't solely controlled by taxes. That conclusion is actually worse than the data cherry picking that the article in the OP did.
That's really what you learned?
The latest graph I posted is just the historical revenue percentages graphed with the historical marginal rates.
Notice that there is little change in the percentage of individual income tax revenue from GDP, regardless of marginal rate, but there is a general higher percentage with a lower tax rate.
Ooops...
I marked those bad.
Individual tax as % of GDP should be Individual tax revenue as % of GDP. Same with corporate and total.
That's a pretty inane conclusion. Anybody worth their salt will tell you that labor, capital, technology at any given time are all factors that go directly at GDP growth.
This made my eyes bleed.
Stop saying things like this, until you actually complete a macroeconomics course and have a working familiarity with how GDP is measured.
Increasing taxes does not decrease GDP.
Pfft. Of course it does. That's accepted, a starting point, a maxim.
You can't trust anyone/thing that says otherwise. They're probably lying.
To be fair:
Increasing taxes simply imposes a higher cost on whatever activity/good you tax.
This tends to discourage whatever you tax, by shifting the supply curve.
Not precisely "decreasing GDP".
One thing that will directly cause GDP to decline is cutting government spending.
Suck on that for a while.
Or trying to frame something withouy the correct context.
You lie!
Everyone knows that the lower the taxes, the more the GDP. Not only that, but the lower the tax, the more money gov't actually rakes in!
Now, it obviously can't be 0 percent. So the correct answer on how much to tax is .0000000000000000000000000000000000000000000000001 percent. Specifically, a dollar per person, per year.
If you don't believe me, GFY
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