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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: Lane3 who wrote (15766)	4/22/2017 12:17:01 PM
From: Wharf Rat	1 Recommendation Recommended By GPS Info Read Replies (2) \| Respond to of 365076

"there were negative incentives to work" I never made that much. "People would actually turn down overtime" I'm the one who covered the shift. I was putting in a lot of 60 hour weeks my last 2 years before retirement. "Surely your billionaire would reduce his effort at some point" I'm hoping it's at $100M. WTF needs $1B, except for bragging rights? "At some point, tax rates kill that golden-egged goose." I'm hoping it kills greed first. If those guys want to play "my dick is bigger than yours", they can make porn films, not obscene incomes.

To: Lane3 who wrote (15766)	4/22/2017 12:30:59 PM
From: combjelly	Respond to of 365076

There is a point at which marginal tax rates discourage income production. Sure. A problem is that point seems to vary depending on the nature of the income and the state of the economy. So it is something that can't be set and then ignored. But, we don't have a good handle where that point is. Nor do we have a good idea where the converse is true, where lowering the marginal tax rate no longer results in increased effective investment. We have had the situation where too much investment money has been chasing too few good investment opportunities. That results in bubbles and spectacular failures of companies based on bad ideas. Like the dotCom bubble. Real estate is prone to this, especially commercial real estate.

To: Lane3 who wrote (15766)	4/22/2017 1:23:25 PM
From: bentway	Read Replies (2) \| Respond to of 365076

>>At some point, tax rates kill that golden-egged goose.<< I think everyone (but koan) accepts that. It's the 'Laffer Curve' argument, but it's really just common sense pricing theory. To high is bad, too low is bad, there's a sweet spot where it's just right and income is maximized. Republicans seem to see only the 'too high is bad' part, so tax rates are always too high, an easy sell to the peeps. Who likes taxes? We need economic science to step in and determine the exact ( or exact range ) middle.