Archive for the ‘Laffer’ tag
An Endless Downward Spiral
BoomerJeff pulls together a pile of steaming data on individual and corporate tax receipts to paint a very grim picture of the impact of Obamanomics on the US economy.
ObamaNomics is built on the assumption that politicians are better stewards of economic resources than the millions of individuals and business enterprises who created those resources. The Democrats’ plan is to dramatically increase taxation to fund programs through which government can exert greater control over our lives.
But these data show that the private sector’s ability and willingness to generate wealth for government to seize through taxation is rapidly diminishing. These data show that Obama’s own actions are are literally killing the goose that lays the golden eggs he needs to fund his agenda.
It’s really not all that surprising; take more money from the productive part of society and it has less capital left over to pay employees, invest for the future, and, yes, pay taxes.
