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The Congressional Research Service Nails Lid Shut on Coffin of Republican Party, GOP Tries to Kill Report : Swingers Discussion 211146
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FORUMSGeneral DiscussionsPoliticsThe Congressional Research Service Nails Lid Shut on Coffin of Republican Party, GOP Tries to Kill Report
TOPIC: The Congressional Research Service Nails Lid Shut on Coffin of Republican Party, GOP Tries to Kill Report
Created by: TheGhost_and_MrsMuir
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In a related explanation, Thomas Piketty, Emmanuel Saez, and Stefanie Stantcheva argue that high top tax rates were part of the institutional structure that restrained top income by reducing gains from bargaining or rent extraction by CEOs and managers. For example, a CEO has less incentive to bargain hard over additional compensation when he keeps 9 cents of every additional dollar (a 91% top tax rate) than when he keeps 65 cents of every additional dollar (a 35% top tax rate). A recent study by Jon Bakija, Adam Cole, and Bradley Heim provides additional support for this mechanism—60% of taxpayers in the top 0.1% are in occupations that provide some bargaining power over compensation (executives, managers, supervisors, and financial professions).

Perhaps I am not stating this as well as I can but I remember an economics lesson from years ago that postulated that this effect as well as the reality that no one actually PAID the highest rate, they re-arranged their money to work better than that (plow it into expansion or give a bit more of the pie to labor) because that's what the system incentivised. We seem to have lost track of that side of 'incentivising' for the 1%, the punishment side. We have like to provide oodles of POSITIVE incentive, just not the correlating NEGATIVE disincentive driven side.

There don't seem to be too many problems with disincentives in the lower income brackets....

East Fishkill NY
 
 
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Perhaps Mark and Robert could share their views on the regression analyses in the data tables of the report referenced by the OP. Unless people prefer going off on tangents about poverty and garbage in third world countries.

Belle Chasse LA
 
 
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Mark:

Apples and oranges.

You are comparing the wealthiest nation on earth to the poorest nations on earth?

What you have just said is to allow this nation to become like the poorest nations... You have just said that it is acceptable for the most wealthiest, the most powerful nation on earth to have a class of poor so impoverished that they would blindly strap a bomb to themselves, for a after life told to them by radicals.

This is unacceptable.

Hazle Township PA
 
 
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Do not forget. People on welfare in the USA are in the top 20% of income of the worlds population. When I was overseas on maneuvers in 3rd World Countries, we learned to not bury our trash. So as not to cause injury to the mob that went after our trash. The cardboard from our C-Rations was prized. Not to mention a can of crackers, cheese or anything food.

Tulare CA
 
 
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'decent standard of living', basic necessities'. lol

Who get's to define such thing? Cell phone? cable?

Most people in this country don't even know what poor is.

Pittsburgh PA
 
 
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"But people still push it as policy."

Yes, but this report is pretty damning so that will be more difficult at the very least.

My gut says it will grow legs at some point, then who knows....

East Fishkill NY
 
 
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Given the republican candidates that the republicans have, I wish we could have GHW bush as the candidate for office. I wouldn't be as afraid for the continued future of the US under bush senior as I fear our dismal future to be under a Romney/Ryan lead government with a republican lead or republucan/democrat tied congress/senante.

Hazle Township PA
 
 
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"would you agree that it puts 'supply side economics' on the endangered list?"

No. Many people, including the current Republican nominee, continue to assert its viability. I think GHW Bush had it right the first time when he called it voodoo economics, and our experiments with it were not very productive. But people still push it as policy.

Belle Chasse LA
 
 
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"This is the essence of a progressive tax system, to make it hurt enough as it gets to the top rates to TRULY encourage those there to be 'job creators', because the alternative is simply too painful."

If that's the essence of tax progressivity, it's news to me. I think it has more to do with who has more disposable/discretionary income that can be taxed without impairing the earner's ability to make basic provisions for his family.

As the article noted, before WWII only the top 15% of households earned enough that they even had to file returns.

Belle Chasse LA
 
 
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Fun

would you agree that it puts 'supply side economics' on the endangered list?

East Fishkill NY
 
 
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TOPIC: The Congressional Research Service Nails Lid Shut on Coffin of Republican Party, GOP Tries to Kill Report