People on both sides of tax issues often speak of such things as a "$300
billion tax increase" or a "$500 billion tax decrease." That is fine if
they are looking back at something that has already happened. But it
can be sheer nonsense if they are talking about a proposed increase or
decrease in the tax rate.
The government can only raise or lower the tax rate. Whether the actual tax revenues that the government will collect as a result will go up or down is a matter of prophecy. And these prophecies have been far too wrong far too often to base national policies on them.
Read more: http://townhall.com/columnists/thomassowell/2013/02/06/prophets-and-losses-part-ii-n1504895
The government can only raise or lower the tax rate. Whether the actual tax revenues that the government will collect as a result will go up or down is a matter of prophecy. And these prophecies have been far too wrong far too often to base national policies on them.
Read more: http://townhall.com/columnists/thomassowell/2013/02/06/prophets-and-losses-part-ii-n1504895
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