Originally posted by: Fox5
Originally posted by: Acanthus
Originally posted by: DLeRium
Where's that terrible "paper" written by Acanthus about taxing the rich? LOL.
You mean the terrible paper that showed our strongest period of growth was during a time when the highest tax bracket was 91%?
Show me the correlation between tax rates and growth, and i'll concede the paper as wrong. I did 4 weeks of intensive research for that paper. I read many many articles, op-eds, journals, and economic studies from both sides before drawing my conclusions. The data i used to draw my own conclusions was from VERY reputable sources (BLS, IRS, SEC)...
I'm all for higher taxes at the top, but a 91% rate is infeasible now. Personal taxes have to be comparable to what other civilized nations charge, otherwise the rich will just move. And corporate taxes are completely cutthroat.
Go dig up your thread. I commented and you said you would get back to it. But you never did. You plotted data and did an Excel trendline fit and when it showed a slightly negative slope despite wild swinging data, you concluded there was sufficient evidence. Sorry, I learned how to do trendlines in 8th grade. What you showed was effectively nothing because even an 8th grader will know that with data like that, you can't draw an accurate trendline.
Once again you quote some sources for your data, but your other sources is based on studies designed to show that tax cuts are flawed. Great.
Here's 1 thing. I'll argue one thing at a time because this is by far the most flawed paper I've ever read. This is something the GRE will test you on and show some logical flaws and problems and ask you what's wrong with it. Maybe the ETS should put this in the GRE test.
First, your hypothesis was that Reaganomics might be true (even though you don't believe it). You play the "Hey let's assume this is true, so let's investigate it." So if your hypothesis is that Reaganomics is true then....
You show a graph where the relationship between the TOP tax bracket and private investments.
1) What is private investment? Your paper first states that Reaganomics believes that cutting taxes will cause people to invest more and create jobs. I don't think people (even conservatives) believe that investing in a savings account will improve the economy significantly. Investments like business expansion and growth, starting new businesses, VC funding, all this is what we believe to drive the economy, so if your form of personal investment includes savings accounts, 401ks, this is probably the wrong figure.
2) Top tax bracket and tax burden are two different things. While under the Bush tax cuts the top tax bracket dropped, tax burden on the rich has INCREASED. So one could argue that you cut taxes on the rich, but the rich are paying more overall. So while you argue this is a tax rate cut, if the rich are paying more, this isn't really a tax cut on the rich anymore.
You try to argue against cutting taxes on the rich, which is essentially a tax burden. You could cut the top rate but what good is this if only 5 people were paying 91% taxes or whatever?
3) There is no correlation at all between the two lines it seems. Top tax rate and personal investments. Personal investments is this zig zag squigly line that goes up and down. It's the equivalent of me scribbling with a pen. So you're saying there's no relation? How can you conclude there's no relation?
When your hypothesis is that Reaganomics principles are followed, you need definitive proof that the OPPOSITE happens. With this data, it shows no relation and thus all you can say is that there is insufficient data to show that Reaganomics is flawed. YOu have not disproven or proven the hypothesis. So your conclusion that Reaganomics is false based on this pathetic graph is unjustified.
THIS IS WHY YOUR PAPER IS SO SCREWED UP.
I don't really care what your conclusion is, but if it's completely flawed and draws conclusions out of thin air, then yes that is retarded.