No. of Recommendations: 1
Jerry misses the point. First the US government has no control over what % of the GDP takes in revenue. Second, if taxes reach a threshold, the GDP growth rate slows down. Even when taxes were at their highest in terms of top marginal rate, we were doing no better on average then we are today as % of GDP.

People who think the government can generate more tax revenue then the GDP are living in la la land or are in major denial from liberalitis.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement