Fog, whose real name is Rob, explains how tax cuts work.
ECON 102: Taxes. Tax receipts are a non-linear, inverse function of tax rates. I.e., when rates are cut, economic activity is stimulated and tax receipts increase.
Corollary: Economic activity is NOT a zero-sum game. I.e., the rich are not getting rich at the expense of the poor.
And then he ponders. Why must the liberals continue to blame the rich?
Tuesday, January 10, 2012
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