Comments on: Will Higher Taxes Reduce Deficits? http://jeffreymiron.com/2010/08/will-higher-taxes-reduce-deficits/ Libertarianism A to Z Sun, 06 May 2012 22:53:22 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Zack http://jeffreymiron.com/2010/08/will-higher-taxes-reduce-deficits/comment-page-1/#comment-1897 Zack Mon, 23 Aug 2010 22:01:15 +0000 http://jeffreymiron.com/?p=1577#comment-1897 When the federal rate of capital gains was lowered from 28 to 20 percent in 1997, it was assumed that revenues from the tax would fall bellow the $54 billion collected in 1996 and the $209 B projected to be collected over the next four years, before the tax rate was cut. Instead, tax revenues rose after the capital gains tax rate was cut: $372 B were collected in capital gains taxes over the next four years. When the federal rate of capital gains was lowered from 28 to 20 percent in 1997, it was assumed that revenues from the tax would fall bellow the $54 billion collected in 1996 and the $209 B projected to be collected over the next four years, before the tax rate was cut. Instead, tax revenues rose after the capital gains tax rate was cut: $372 B were collected in capital gains taxes over the next four years.

]]> By: ElGreco http://jeffreymiron.com/2010/08/will-higher-taxes-reduce-deficits/comment-page-1/#comment-1895 ElGreco Sun, 22 Aug 2010 02:03:17 +0000 http://jeffreymiron.com/?p=1577#comment-1895 …And then when economic activity slows down to 1-2% annual growth and we start hurting even more what are we going to do in our despair? Vote for even more taxes, of course. The decline will be swift. …And then when economic activity slows down to 1-2% annual growth and we start hurting even more what are we going to do in our despair? Vote for even more taxes, of course.

The decline will be swift.

]]> By: Underwriterguy http://jeffreymiron.com/2010/08/will-higher-taxes-reduce-deficits/comment-page-1/#comment-1894 Underwriterguy Sat, 21 Aug 2010 20:55:52 +0000 http://jeffreymiron.com/?p=1577#comment-1894 Just sitting here today figuring out the estimated I will owe in 2010 on my Roth conversion and cap gains. Wonder how many more are like me and the ones in the article. Oh, and gold is a hedge against debasement of the dollar not inflation; from another article I read today. Higher taxes and lower dollars, whoopee! Just sitting here today figuring out the estimated I will owe in 2010 on my Roth conversion and cap gains. Wonder how many more are like me and the ones in the article.
Oh, and gold is a hedge against debasement of the dollar not inflation; from another article I read today. Higher taxes and lower dollars, whoopee!

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