The Laffer Curve, Part III: Dynamic Scoring

A video by CF&P Foundation that builds on the discussion of theory in Part I and evidence in Part II, this concluding video in the series on the Laffer Curve explains how the Joint Committee on Taxation's revenue-estimating process is based on the absurd theory that changes in tax policy - even dramatic reforms such as a flat tax - do not effect economic growth. In other words, the current system assumes the Laffer Curve does not exist. Because of congressional budget rules, this leads to a bias for tax increases and against tax cuts. The video explains that "static scoring" should be replaced with "dynamic scoring" so that lawmakers will have more accurate information when making decisions about tax policy. For more information please visit the Center for Freedom and Prosperity's web site: www.freedomandprosperity.org.

Category:

News & Politics

Tags:

• laffer
• curve
• mitchell
• quinlan
• taxes
• tax
• competition
• oecd
• harmonization
• reagan
• freedom
• and
• prosperity

[sayanythingkicksass]

email all three videos to every congressman and senator in the damn country

[Robodude288]

I read this as satire and therefore laughed, however if you were serious you are in need of serious deprogramming (you've been brainwashed) and reeducation I recommend you start with Milton Friedman

[ElasticGiraffe]

This video is maddening. How can anybody take this worthless progressive JCT bullshit seriously if it refuses to treat macroeconomics as a SOCIAL science?

[p4h10oso]

Who would work as hard for less, not many. By the same token, wouldn't we have to trust the 'job makers' to trickle down $ to the rest of us? Thats alot of trust..........rock and a hard place if ya ask me.

[flyoverjoe]

@MrGregs Of course you don't take measures to keep your taxable income as low as possible, right? It's always the other guy who's greedy:)

[MrGregs]

Hold on a second basically the point made here is that if the tax rate is low enough the rich will admit to their earnings and pay their dues; if it high the stash their cash ....

Therefore lower taxes ...... who's funding the institute BTW ?

[bashfullashley]

I emailed these videos to every person I can think of.

[PENNA65000]

... and so now we are suffering from the sub-prime mortgage fiasco (brought to you by big banks, wall street and insurance companies) and still trying to use the Laffer Curve as if nothing has changed. That's nuts! And we have billionaires paying virtually no taxes at all and we keep lowering their tax rates. That's nuts! And the discrepancy between the lower earners and the upper earners is widening more and more. Keep that up and we'll have a revolution. Dan Mitchell is nuts!

[SuperGuitarman69]

Let's make it a 11% flat tax. Make a constitutional amendment and be done with that. Then set term limits make that a constitutional amendment. Then, for a final show of good will, let's have a constitutional balanced budget amendment. Do those 3 things? And we won't be talking about the JCT anymore. And the government unions (teachers etc..) will lose power. Because then all the government has to say is we simply cannot concede what you want. We can't make it work due to the budget.

[haveldad]

@Jollyprez Did you watch the other two videos where he provided arguments? Seriously...

[Jollyprez]

@Robodude288 So, is there an argument in there some where? Just attack the opponent and point them somewhere? Seriously, how about refuting something said here. Did you look at the video?

[hergs]

@SimulacrumMaster It's not my job to educate you. Go read the Financial Times.

If you don't understand what the Commodity Futures Modernization Act or the Gramm-Leach-Bliley Act did, then there's no point in having a conversation. Banks were allowed to act as investment houses, creating complex financial products backed by bundles of subprime loans that turned out to be shit because mortgage brokers were incentivised to fraudulently dump people into subprime loans which exploded on them.