Wednesday, July 21, 2010
The More You Tax It, The Less You Get Of It
SEE HERE Yup, it works for work too. The higher taxes in the European community account for the fact that they work a lot less. Notice if you will, that this is a an application of the Laffer curve that all the liberals always laugh about. You increase tax rates and actually get less total money ... why? ... people opt-out! Here the opt-out is working less. It's not worth the effort to work more if you just get to pay it out in taxes that are then used to subsidize people who are hardly working. That's a double whammy! Taxes that reduce work, and subsidies that increase sloth. Of course you get less efficient economies. What did you expect? Economics 101 and an exposition of how the Laffer curve actually works in real life.
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