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Author: AdvocatusDiaboli Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 794449  
Subject: Re: Optimal Tax Policy Date: 10/17/2012 7:42 AM
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However, economists tend to be very liberal,

They what? Well, I guess that just depends where the observer stands.

It actually is supported by tons of research that taxes on capital are very destructive to economic growth.

I absolutely agree with the economists. I don't think, however, that that means that taxing capital not at all is a good idea. If you don't have any taxes on capital but significant taxes on income, there's tremendous pressure to structure all economic activities in a way that makes it possible to relabel all "income" into "capital gains". That is very distortive.

It blows my mind that the whole idea that the stimulus created jobs was based on the assumption that the stimulus was stimulative and therefore created jobs.

The idea is that the stimulus caused an increase in aggregate demand. Why wouldn't that create jobs? Or save jobs, for that matter.
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