murphyjrichard blogspot.com

MurphyJRichard

Sunday, 25 September 2011. It is a common misconception that, at some point, increasing tax rates will lead to lower revenues from taxes. I leave you with this formula. Tax revenue Taxable income x tax rate. I see only one variable in this formula - the tax rate. Therefore maximum revenue occurs at a tax rate of 100. However this ignores the tax gap, which I have calculated to be in the region of 20,000,000,000,000,000,000,000. In order to recover some of this gap, I propose a tax rate of 244.

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MurphyJRichard

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Sunday, 25 September 2011. It is a common misconception that, at some point, increasing tax rates will lead to lower revenues from taxes. I leave you with this formula. Tax revenue Taxable income x tax rate. I see only one variable in this formula - the tax rate. Therefore maximum revenue occurs at a tax rate of 100. However this ignores the tax gap, which I have calculated to be in the region of 20,000,000,000,000,000,000,000. In order to recover some of this gap, I propose a tax rate of 244.

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This web page murphyjrichard.blogspot.com states the following, "It is a common misconception that, at some point, increasing tax rates will lead to lower revenues from taxes." We saw that the webpage said " I leave you with this formula." It also said " Tax revenue Taxable income x tax rate. I see only one variable in this formula - the tax rate. Therefore maximum revenue occurs at a tax rate of 100. However this ignores the tax gap, which I have calculated to be in the region of 20,000,000,000,000,000,000,000. In order to recover some of this gap, I propose a tax rate of 244."

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