This raising of effective tax rates by taxing back child benefit:
Why not? It will pay handsomely!
Yes, that\’s Ritchie, pointing to what he always denies is even possibly true. That in the face of \”too high\” tax rates people will cut the hours they work and thus tax revenue collected will also fall.
What\’s even more amusing is that in one of the papers he\’s done over the past couple of years, in order to make his sums, umm, sum, he had to assume the opposite.
That raising tax rates on the rich would increase the number of hours they worked.
Nothing like consistency in his work, is there. No, quite, nothing like it at all.
Oh, and this is joyous in the comments:
And yes – 100% tax is the one point bar 0% where Laffer works
Rilly? The Laffer Curve continues to slope upwards until a tax rate of 99.99999% and then revenue slumps to zero again?
Better get that written up, eh? Sure fire Nobel material that is.