@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%
A surprising graph. As tax rates vary, the percentage of GDP the government actually collects remains the same. Why?pic.twitter.com/iYYwGLdCHu
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@PittLabs That is my initial theory. - Show replies
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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 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 rate influence consumer/business spending which moves inversely proportional to the rate hence tax as % of gdp remains the same?Thanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg varying levels of tax expenditures (exemptions, credits, and deductions) that cancel out changes in tax rateThanks. Twitter will use this to make your timeline better. UndoUndo
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