@paulg @prchovanec what do you think?
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@StookBo
@prchovanec I think the effort the rich spend on avoiding taxes depends on how high tax rates are.
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@paulg People say creative tax dodging by the weathy; which I'd believe if we weren't talking about a range of top rates from ~90% to ~24% -
@PittLabs That is my initial theory. -
@paulg It's referred to as "Hauser's Law," which was news to me: https://en.wikipedia.org/wiki/Hauser%27s_law … -
@paulg As critics on the wikipedia page point out, would be interesting to see the figures with corporate taxes factored out.
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@paulg https://www.youtube.com/watch?v=ldVOPNLSFoA … (not exactly the same thing) -
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@paulg Ever hear of the Laffer curve? http://bit.ly/1NPmlKMThanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg well, first we have to find out if this data is accurate. It certainly prompts my skepticism. -
@paulg found this wikipedia overview of this proposition: Hauser's law https://en.wikipedia.org/wiki/Hauser%27s_law …
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@paulg statutory rate <> avg effective rate after deductions, avoidance. Income tax only 42% of Fed revenue. Biz cycle largest src of var.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg the red line is the average not the actual. Over the 60 years percentage GDP has ranged 20-14%, the move is likely caused by tax rateThanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg % collected isn't same average is. Other calculations would give a different chart.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg Rates also vary the incentives to fraud, domicile gaming (inversions, other tax-advantaged structures), forms of investment,...Thanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg tax rates are about incentives on the margin, not necessarily about % of gdp. Also because clearly gdp grows over timeThanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg or people/biz find more creative ways to evade taxes when the rates are highThanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg largely follows business cycles in a boom economy government makes more $, also, income/property/sales taxes tend to even outThanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg alas, if I was not bound the obsession for financial independence, I could focus on dissecting the very system I'm trying to beat.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg think us gov as WalMart. It can change its pricing all it wants, but annual revenue growth is basically the GDP.Thanks. Twitter will use this to make your timeline better. UndoUndo
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