As a public service announcement for those reading this with small screens, Nokota’s gravitar is saying “I am proud of my pigheadedness”.
You’re welcome.
It depends how far back you’re referring to I suppose, but it’s partly to due with variable tax rates and how different tax cut policies can affect each income bracket drastically differently. Whether or not the argument is true can be debatable, but it comes down to the way economists calculate the effects different tax rates have on different demographics’ financial well-being, which itself is not quite an exact science and can leave some margin open for interpretation; it wouldn’t be entirely inaccurate to say that tax cuts across the board could very well just shift the comparative tax burden, resulting in a minimal effect on lower income brackets while having a drastic effect on higher income brackets. As a purely hypothetical example, let’s say a certain round of tax cuts for all doesn’t necessarily benefit everyone, as the extended (and unexpected) repercussions of the tax cuts, depending on what other changes to fiscal policy are bundled in with them, could end up disproportionately increasing the costs of living for lower income brackets, or having a lasting impact on the economy whether good or bad that might not become apparent for several presidential terms. Everything is so interconnected that it’s impossible to account for everything, and even a flat tax break does not affect everyone equally. Any policy may seem like a good idea at the time, but hindsight is always 20/20 when it blows up in people’s faces; alternatively, an initially unpopular idea may prove to be an ideal solution in the future.
I don’t think I’ve ever seen that kind of facial expression on Llewellyn, ever. It’s unnerving.
As a public service announcement for those reading this with small screens, Nokota’s gravitar is saying “I am proud of my pigheadedness”.
You’re welcome.
Thanks!
I never noticed it before. Thank you
I get tired of the lie “tax cuts for the rich” when everyone from poorest to richest got a tax cut.
When is that lie going to stop being repeated?
It depends how far back you’re referring to I suppose, but it’s partly to due with variable tax rates and how different tax cut policies can affect each income bracket drastically differently. Whether or not the argument is true can be debatable, but it comes down to the way economists calculate the effects different tax rates have on different demographics’ financial well-being, which itself is not quite an exact science and can leave some margin open for interpretation; it wouldn’t be entirely inaccurate to say that tax cuts across the board could very well just shift the comparative tax burden, resulting in a minimal effect on lower income brackets while having a drastic effect on higher income brackets. As a purely hypothetical example, let’s say a certain round of tax cuts for all doesn’t necessarily benefit everyone, as the extended (and unexpected) repercussions of the tax cuts, depending on what other changes to fiscal policy are bundled in with them, could end up disproportionately increasing the costs of living for lower income brackets, or having a lasting impact on the economy whether good or bad that might not become apparent for several presidential terms. Everything is so interconnected that it’s impossible to account for everything, and even a flat tax break does not affect everyone equally. Any policy may seem like a good idea at the time, but hindsight is always 20/20 when it blows up in people’s faces; alternatively, an initially unpopular idea may prove to be an ideal solution in the future.