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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (357976)	11/22/2007 11:17:10 AM
From: TimF	Read Replies (1) of 1573019

The idea that tax cuts on investment can pay for themselves has a lot of economic support. The idea that tax cuts "pay for themselves" if the tax rates start off very high before the cut, also has a lot of support. The idea that tax cuts on personnel income, from Clinton's levels, or from current levels, without tax simplification, would be likely to result in more government revenue in the short to mid term doesn't have a lot of support, and isn't an idea that I would push. OTOH in the very long run they likely would result in more government revenue as even a small increase in economic growth compounds over time. But that's mostly an academic issue as tax regimes don't stay stable for the long run, a new president and a new congress come in and change them. The more important point is that tax cuts don't reduce government revenue as much as would be expected from static analysis, because tax cuts encourage economic growth, and so the government gets a smaller piece of a slightly bigger pie. The piece the government gets might be smaller even if they pie is bigger, but I care more about the pie than the piece.

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