State of the State 2023

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1. JohnInDenver says:

   January 17, 2023 at 9:37 PM MST

   Polis, stating "It’s no secret that I, and most economists, despise the income tax."

   Seems to me an income tax may be awful … and every other option is likely to be worse.

   Cutting income tax is not a way to assure economic growth.  "In the 1980s, policymakers followed these models and drastically lowered the top individual marginal income tax rate, from about 70 percent down to 28 percent, and lowered the top corporate rate from 46 percent down to 34 percent.5 But instead of booming, income growth slowed. As the government reduced statutory tax rates, especially for those at the top, inequality exploded, and income growth rates went down."

   This, and a few other discordant facts, can be found at https://equitablegrowth.org/the-relationship-between-taxation-and-u-s-economic-growth/

    

    

    

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