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Groups who advocated for the IRS to prepare tax returns sure look foolish these days: http://t.co/oKvpIofu7Y
May 13, 2013 06:30 PM
taxreformer -
"We don't need the federal government mandating additional taxes..." -@MarshaBlackburn on MFA: http://t.co/lAuLJtr5t3 #NoNetTax
May 13, 2013 06:00 PM
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Health insurers and businesses are already feeling the iron-clad grip of regulations in #Obamacare: http://t.co/J6dfnKqFYZ
May 13, 2013 05:30 PM
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Virginia Governor Bob McDonnell Signs Largest Tax Hike in Virginia History into Law http://t.co/Qd6KOFfaPv
May 13, 2013 03:46 PM
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Under #Obamacare, mothers have had a tougher time purchasing non-prescription, over-the-counter medicine: http://t.co/dJuaGAT9LE
May 13, 2013 02:01 PM
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9 out of 20 #Obamacare tax hikes have not even been implemented yet: http://t.co/opFkyf1guJ
May 13, 2013 01:30 PM
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.@GroverNorquist on MFA: "[The Senate] didn't ask all of the questions that needed to be asked": http://t.co/wXfkIR2Ca9 #NoNetTax
May 13, 2013 01:01 PM
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"When architects of #Obamacare are worried about it creating a trainwreck, you know something's gone terribly wrong": http://t.co/J6dfnKqFYZ
May 13, 2013 12:30 PM
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Conservative and Free Market Groups Applaud Move to Delay a Vote on Gina McCarthy: http://t.co/lNQYmJAB12 #EPA
May 13, 2013 12:02 PM
taxreformer -
The #Obamacare train wreck will derail the American economy: http://t.co/opFkyf1guJ
May 13, 2013 11:30 AM
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The 1 Percent Solution on Tax Revenues
If economic growth can be boosted by 1 percentage point, tax revenues in 2021 will be the same as under current law, but without raising tax rates.
How much would an additional 1 percentage point of real economic growth add to tax revenues? According to CBO, $2.66 trillion.
But what about if the current tax rate hikes of 2013 are avoided indefinitely? That is, what if the top rate remains at 35 percent, and the capital gains/dividends rate remains at 15 percent (along with all the lower bracket policy remaining in place)?
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The answer is that there would be enough money such that tax revenues in 2021 would be $5 trillion, nearly a record at 21 percent of economic output and collecting the exact same amount of money as CBO's slow-growth, tax hike baseline.
This is what is meant by higher tax revenues being derived from economic growth, not from tax increases that make all of us poorer.
Posted by Ryan Ellis 
on Monday, July 11, 2011 3:55 PM EDT
on Monday, July 11, 2011 3:55 PM EDTTo follow Ryan Ellis's RSS feed click here. To follow them on Twitter, their handle is @ryanlellis
