Your content is disgustingly underrated. You’re the goat 🔥.I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability
@Collins Markson Hey, this is a computer age. Peeps who aren't even traders make money from the crypto and forex markets ,how many millionaires do you know who have become wealthy by investing in savings accounts?
@Collins Markson My personal portfolio/investment manager; Mrs Rebecca Leigh Jones , after a whole week of research,she runs an investment platform where you don't have to undergo any stress in the trades, she manages my trading account which i opened with a capital of $3000 and now i have grown my portfolio up to over $6500, a huge success.
I'm new to the Cryptocurrency market and I want to begin investing on crypto assets in order to secure profit in the future, can I get any guide on how I could begin to avoid making losses?
So much profit can be made in the Cryptocurrency market and also you can make losses too, I'll advise you to seek the help of a Cryptocurrency professional to avoid making losses
I began investing in little cryptocurrencies with potentials early this year like the xrp, safemoon, and the doge coin with the assistance of a good cryptocurrency analyst and I've been able to make quite a lot of money on them
I whole hardily agree. Less money to be spent on Rolex watches, less money spent on luxury properties, less money on private school tuition, less money on cosmetic surgery, less money for Tesla and Lamborghini vehicles. Indeed the hardships will truly be so utterly unbearable !!
Would be good for him and Peter schiff to talk about inflation. I would watch the shit out of that. When he said he doesn’t believe inflation will be in issue in the long run, that kind of worried me.
Eh. He's got 50 years of insight. That's way more than Peter Schiff and Schiff has the same message all the time. He's always talking about a depression happening constantly. He's an investment banker. He feeds off of people selling stock and assets cause he makes money off of it long term.
The solution is 0% income taxes and capital gains taxes for both individuals, partnerships and corporations. No payroll tax. No death taxes. No social security tax. No tax filings necessary. Only have local property tax, 20% VAT/consumption tax and particular import tariffs. That's it. Problem solved. This would result in an economic boom like never before seen.
@@johnkiriakakis439 the greatest period of prosperity increase in America for middle and lower class - yeh 1865-early 1900s. Yeh, screw that. Keep the current corporatist system, keep screwing the middle class. Nice one. The biggest beneficiary to 0% income taxes you Midwit (ie someone who has just a slight above average intelligence, and is used to pushing around 97% of pple with IQ below theirs, but gets their ass kicked when they encounter the 3pc who are smarter & wiser than them) is the middle class not the rich, because the rich can easily minimise their % rate, whilst the middle class pay 30-60% of their income just in income taxes, and have less means to reduce that %. Income taxes are destructive of productivity & prosperity, much more than consumption taxes. In a free market, prior to 1960s, healthcare/hospital costs could be paid in cash. University b4 govt subsidised/protected loans could be paid by working the summer & graduating debt free. You are way out of your depth Midwit.
*SMH If we look at raising of taxes during post world-war 2. We see there was an economic growth expansion until the post-Vietnam era. When corporations and individual citizens paid flat tax rates. Now, some 70-80 years later, we see Corporations demanding to be considered like People for political contributions BUT without accepting the taxation that goes along with being an individual status they seek All problems with our economy point to decreasing contributions by the Corporate structure. Not increasing poverty of the middle class but simultaneous and consistent tax contributions by the middle class. Corporations also blame immigrants, when the Industrial complex profits from military expansion into other territories necessitating an influx of IMMIGRATION into our own conquering Nation. By those immigrants caught in those wars; like Vietnam. Remember, the Corporate sector has ability to affect timing of inflation and stock purchasing by shareholders. This exploitation also contributes to further inflation from gaming the system by Corporations. It's (economic problems) Corporate manipulation or Shareholder corruption. Those who do not learn from history are condemned to repeat it*
Taxes is NOT the problem. Spending and deficits are. People, the left AND the right must cut spending. Right now spending is almost 3 times taxes. Can't hold.
While I resoundingly agree with his general principles and he makes many excellent points, Laffer is flat out wrong on some points, because it's not merely a logical or math equation. Scandinavian societies have some of the highest labor market participation rates in the world, and yet people generally earn close to the same wage (not 0). However open-minded and educated they may be, Americans are still so "American" and struggle to comprehend other systems and realities. Oh, and by the way, there's nothing remotely high about the federal minimum wage. So damn low is a much more accurate statement.
@Channel name No propaganda anywhere; I'm simply saying their take home pay is not 0, as Laffer says it should be. I do understand the realities of the Scandinavian model, and I never said I wanted it. I was simply offering a counterargument to his argument. The main point is that "work" is not as elastic as economists like Laffer would have you believe. It has been proven time and time again that the majority of people will continue to work no matter what the highest personal income tax rate is. Other taxes and regulations can cause unemployment to skyrocket, but that's another story. Go fuck yourself.
The Scandinavia comparison is wrong on so many levels, but it's trotted out all the time. Scandinavia is TINY, even when Finland, Sweden, Norway and Denmark are combined, their population is less than that of New York. The combined GDP is lower than NY both as a raw number and proportionally. Scandinavia possesses large mayoral resources in greater proportion to population than most. Scandinavia is also largely monoethnic. They possess a shared heritage and shared culture. It just isn't a proper comparison at all.
Imagine saying that to these peoples face and the reaction you get back as an individual and others are there to witness it.... that’s more true then wishful thinking comments
Too many people trying to be content creators instead of productive workers. I blame the get rich quick content creators for pushing a unrealistic lifestyle that many won't achieve. I think it was fine back in the day where you had to read a book about wealth and how to acquire that wealth but now that BS philosophy is everywhere.
Creating is producing. It’s kinda in the word. The market will weed out the creators that aren’t good just like anything else in a free market. The problem is that we are mostly a financial and service industry. The least educated can’t get a middle income job anymore. Service jobs pay low wages
The first half of the year have been tough and mostly influenced and manipulated by the fear of missing out "FOMO" pushing most investors to dumping of assets, with many achievements not met yet. The race to financial freedom, sustainability and flexibility begins right now.
I'm diversifying and recently my crypto portfolio yields better profits more than any other commodity despite recent dip in price. I'd say "think like a bear and invest like a bull".
@@alissacampbell4377 That is why you should consider working with an expert with strategic features that yeilds all Holders a long term stable Return of investment for life.
The current altcoin landscape is characterized by extreme volatility, FOMO, dumps, and inflation. Professionals like Henry Brown offers a deflationary assets with protections for dumping and monetary incentives for holding.
This man is 81! Would have guessed maximum of 70. Not only that but still working and contributing to society. People have to admire this. You know he definitely doesn’t need to work he just does what he loves.
Would be nice if we didn't get taxed on Overtime. I make twice what I made when I started my job 12 years ago but only take home about 25% more. Shit is ridiculous. I worked overtime and watched over $1,400 taken out my check (WEEKLY) for personal income tax. Makes me not even wanna work overtime.
Move to Florida or TX where there is zero income tax. Vote with your feet. I refuse to be used as a tax piggy bank in high tax states. And when I travel there I use my credit card so their extra "sales tax" just makes me more money in credit card bonuses.
You're prob being withheld at a higher level for the OT so your payroll doesn't underpay..you'll get it back on you tax return...you should max out 401k and HSA to reduce tax paid today
This interview was so informal and I felt like I got a brief course about taxes and so on as a bonus. I felt a real genuine love for humanity too from Art and he gave me a real sense of hope. I love how you're to the point and conduct interviews Patrick. It's done in a timely manner that's give you a good idea about the subject and relative to that subject.
What are we getting for 40% OF OUR INCOME. I mean seriously, you don’t even spend that much on shelter. What the hell are they doing??? Why does everyone know how to spend my money but me?
What should have happened was a back to work bonus instead of unemployed bonus Also taxes hurt the economy because they affect middle to lower income families the most the ultra rich always find a way around taxes and the lower middle class end up having to pay for this shit
Everyone wants to talk about raising taxes on the rich, but noone wants to suggest reducing the welfare and social programs. We are living in a world of welfare state and excessive social programs. Add to that ultra low interest rates and we disincentivize hard work and spending accountability. The average person is their own worst financial enemy, and we encourage it with bad Gov spending and policies. Reduce taxes, raise interest rates, decrease welfare and social programs. Get people back to hard work and self sustainability.
as someone who's been on and know of those on these programs, they regularly cut it and check on you. at this point, they would have to just do a way with it right? Its ment to be temp anywas. what I don't understand is why they don't do away with less tax exemptions?
@@cetriyasArtnComicsChannel Assistance should never be permanent. Nothing is free in this world. You either pay for it now or pay later. Either work hard now or work hard later. You can never truly know the value of a dollar until you have had to work hard for it.
@@aaronchyea There are a number of tetra and paraplegics that might have issue with that. They would be the tip of the iceberg. That's the thing about social programmes, they are to cover EVERYBODY! But yeah kill em all off through starvation. Coz that Christian innit? Laffer is a pillock that has no idea of reality. Why anyone thinks he has something to say I really am at a loss. Only those with a similar level of complete disconnect would entertain his viewpoint.
@@allanfoster6965 I would hope and assume everyone is reasonable enough to understand that those with serious disabilities, unable to work and support themselves, would not fall under that umbrella. The same goes for elderly people who are passed working age. Those who are able to work, yet choose not to, are the ones I'm referring to. And yes, there are plenty. And there is no greater way to feel a part of a community or country other than being one who contributes to it, rather than living off of it. Sustainability is so important, and true sustainability starts with individuals developing the skills and work ethic to sustain themselves and their own family.
I just wanted to say this : They are differents ways to love somebody. We all know the classic "hug kiss blabla" version, But... having a man trying to prevent us to be really damadged by the consequences of not knowing how to deal with the economy, and interviewing people who can help us understand it better so we can take care of our families and ourselves...If that's not a version of love, I don't know what it is. Thanks Patrick. Thank you all valuetainment team.
We all know taxes and spending is fixable. The problem is ideology in government. We have individuals with anterior motives. This gives too much benefit of the doubt to government officials. They all don’t mean well is what I am saying.
“Thinking about the government correctly will allow us to use government as a tool for prosperity.” What a brilliant interview. What a brilliant man. Thank you for having him on
The one percent has been doing for decades! The present tax structure is for Corporations, Banks, investors, real property owners, entrepreneurs. It's not for working people, but understand, the stage is not big enough for everybody. Someone has to have the short stick in the configuration.
"How come there are 70 million Americans that disagree with you." In, 2018, only 113 million paid any income tax at all. That's over 200 million that didn't, with over 100 million adults. If they don't pay any income tax...
Just ebcause they didn't pay doesn't mean they disagree lol how many are on welfare that wont pay tax, how many earn below taxable rate etc... I lifes more complex than that.
@@aurelianspodarec2629 I find it highly unlikely that a lot Americans that don't pay taxes would agree to paying taxes so that higher income earners might be less burdened.
@@chrissthrlnd Not sure I understand you. There aren't that many higher income earners - it also depends what yo consider higher. I can tell you though, people that classify for the higest taxt rate, and get taxtes 63% - they stop to produce and its not worth to produce more for them. But I feel we are lost with the convo.
I would take what Art Laffer has to say with a grain of salt. In 2007 he got schooled and taken to the cleaners by Peter Schiff over the subprime meltdown. He still owes Peter a .1 cent over the wager.
when Dr. Arthur Laffer talks about Dr Jordan Peterson (41:00) .....the way he answer about helping people is really awesome - but he also admits its a balancing act and i also admit its a balancing act
Tim Pool needs to watch and learn from this video. Taxation, especially Progressive taxation, isn't the solution to preventing millionaires / billionaires from "flooding the political" zone.
I'm sorry, but the biggest lobbyist group in the USA is not the big corporations, it's the lower class people's vote. That's why politicians allow the US to take on a massive budget and trade deficit in order for them to be able to promise them free money that they the politicians themselves do not have, but that will both take from others to give to them AND print the remaining.
He conceded that he's been wrong in the past and doesn't claim to know EVERYTHING! Even if he didn't, there's still value in the conversation! Come away with something to mentally process and make your own deductions! Jesus...these comment sections be so polarizing it's ridiculous! Smh...
America is the best country to make money but not to live. A lot of Asians realize this and we bound out to start our own business in other places and live the good life
Man, we have had the worst government ever in Kenyan history, they taxing the hell out of entrepreneurs and producers!!! Man, I can't even launch a business
I wonder if there will be any acknowledgement of all the multi million dollar companies with effective tax rates of less than 10%, due to tax avoidance?
@Channel name Why wouldn't the objective be to instead enforce a higher effective tax rate to corporations? Are we that apathetic about getting businesses to operate at a slightly lower margin; that we effectively sacrifice all these tax funded benefits that even the wealthiest use? To drive a Mercedes, a road would make the trip a little less bumpy. Letting everyone off the hook for taxes can be quite destructive. i.e. Kansas.
@Channel name It becomes particularly troublesome given America could really improve their health care issue if there was some additional tax funds to fix it (and some moral compass). American government spending isn't being invested well, and automation presents an issue larger than it is perceived to be. My solution is based off companies taking a lower margin % (different from overall margin - there's a huge sector of America that doesn't spend much currently because they're too poor). If the entire population were engaged in spending, that would address the loss in additional taxes. I do concede that actually getting businesses to play fairly is basically impossible though. I just think there are MANY businesses (of all sizes) that are cooking their paperwork, because white collar crime prevention isn't a priority. Is there ANY way to address the wealth gap?
How do you say their isn’t inflation? When I drive into town there’s a new billboard for little Caesar’s pizza. I remember for my entire 30 years it’s been $5 hot and ready. Now it’s 9.99!! Last year it said $8.99. It never moved above $5.00 until the lockdowns. Subway is the same. For decades it was always 5 dollar 5 dollar! Foot long! Now it’s $5 for a 6 inch. When the crappiest fast food chains change prices 2x its a sign.
Yes I noticed this myself I used to buy subway as cheap “healthy ish” lunch for work for under 10$ for a meal now it’s 15$ same meal crazy I just recently cut out all random expenses tho and eat at home so doesn’t affect me that much .
@@abbybuds1697 Watch your grocery bill as well. Here in Texas my grocery bill used to be around $55-65 every two weeks. Now that same bill on Thursday was $85 and I was swapping stuff out for small or cheaper items. I also pick up a frozen pizza maybe once a month instead of ordering it in...The same pizza was smaller than the one I already had in the freezer. So when they say the price isn't changing when it comes to food, it's the portion that is dropping little by little.
Brother, when social security recipients pay more in taxes than corporations then you have a problem. It's not the poor versus the rich. It's citizens versus corporations.
Social security is basically under funded because it’s caped @ 120-125k so only the middle class pays it, companies match with the payroll tax but those aren’t enough to sustain it.
Thanks @Patrick for arranging thease type of interviews which have good content and I got to learn so much. Way to go Pat . Really appreciate your efforts.
This guy's Robin hood story is straight jibbs. Good luck stoping the Taxes from going up. Taxes have become a booming biz. The issue is how efficient those Taxes are used within our economy and society. Big government spending is not going anywhere look at our military. This guy's beyond outdated. He's forgotten at this point.
God bless you guys! He loves you so much that He even sent His son to die on the cross for you and your sins! Jesus loves you so much that He even gave His life to set you free and give you a second! Please make the choice and follow Him before it’s too late! He can return right now! There are gonna be no excuses on judgement day! God has a plan for every single one of you so trust Him and everything will work out! Start reading the Bible and getting into the word of God! The more you spend time in God’s word, the more His identity becomes your identity! God‘s word over this world! Start spreading the word of God to reach more lost soles! Continue steadfastly in prayer, being in it with thanksgiving! I have a big God that can do big miracles and you can too if you just make the choice and follow Him! God didn’t say that we wouldn’t have any storms, but He did say that He would stay with us when they occur! Jesus, we need you, we can’t do this alone! Thank you, God bless you!
Governments print as much money as they like. They can tax over generations to pay it back. Governments use debt as an asset, not as a liability. I would suggest you look up Prof. Mark Blyth of Brown University on UA-cam. He i think has a much firmer grasp on reality than this racist misogynistic out of date, out of touch eejit.
@@allanfoster6965 Exactly, it’s like a person who has a gold mine with infinite gold. Then people say, you aren’t allowed to dig for more gold because it would devalue the gold in our pockets.
@@allanfoster6965 people think banks and gov’ts are on the same side of the accounting T Table. Our assets is their liability and their liability is an asset unlike for a person. Before people talk about economy, taxes and ideology, they better learn accounting and chaos theory to understand they don’t know what they are taking about.
I disagree with this analysis. This economist only looking at select data to develop conclusions. The wealth gap was the smallest during 1950's, when 1 earner family permitted house buying, 2 cars, summer vacations, lots of disposable income. The problem is the wealthy have too many tax loop holes, and feel they should not pay taxes since they have employees, and the employees pay taxes, so I do not have too. Wealth has increased tremendously for the rich, and has remained the same or declined for everyone else. This analysis is not comprehensive enough to discuss wealth gaps, whats better for economy. Look at our old, falling apart roads, bridges, airports, powerplants, all infrastructure. Compare to other countries, including China. Not collecting enough money and not spending in right places
@@vincentruben4365 I agree. If the largest number of people increase disposable income, hey will spend more, and a portion will return back to product and services provided by businesses these employees and owners work for. If you choke off the disposable income, concentrated with a few who can't spend it all in 3 lifetimes, you have a weaker economy. The owners and executives cannot run businesses without employees and should be giving back to them and pay taxes to maintain and improve infrastructure, school performance, etc
Taxes are for corporations and businesses 100 years ago they registered every living person as a corporation, gave them a number on their birth certificate and now tax living people as corporations which is unlawful. Go to your state assembly and change your status back to a living person and eliminate being taxed
Have you ever been wrong? That he said things that you viewed as being factually incorrect some 16 years ago now makes him ineligible to have an opinion worth hearing? I look at anything I hear critically and I decide whether what they're saying makes sense or if they're talking out of the wrong hole. I am not saying you're wrong about him, just that there may be some value in what he has to say.
People choosing to not work seems to be good for those workers in the job market that do choose to work, it gives them more options and higher pay. it may be that the wealthy business owners simply want more supply of employees to lower the cost of employees And this comes from a person who wants to be a wealthy business owner and in general agree that people shouldn't be paid to do nothing. But higher employee pay may lead to higher prices or lower company profits or a little bit of both, and Image other externalities hitherto not considered may occur
The people choosing not to work cause those who do work to also be robbed of more money by Big Daddy Government in order to give more money to those who refuse to work. Terrence Popp has a great video called "System Surfers" in which he explains how many of those who refuse to work can collect enough from BDG to equal 65-75 THOUSAND dollars per year. That's higher than the average income in many places. And that's not counting the baby mama, baby daddy, house rent scam. Guy starts LLC, LLC buys house, LLC rents house under Section 8, guys baby mama moves into house through Section 8, guy claims his parents' or friend's house/apartment as his permanent residence even though he lives with her most of the year. Detroit & Chicago love this scam.
Exactly, an opportunity not taken goes to the person that wants it the most. Care about what you control, there are always gonna be lazy freeloader. Those people living off the government aren’t living in some sort of luxury.
*GIVE MONEY TO THE RICH-MINDED AND THEY WILL TAKE EXCELL-ENT CARE OF THE MONEY AND INVEST ON ASSETS, EXCELL AND MULTIPLY THE MONEY. GIVE MONEY TO THE AVERAGE-POOR-MINDED AND THEY WILL SPEND IT UP ON LIABILITIES, LUXURIES AND PLEASURES. GIVE MONEY TO THE HOMELESS AND THEY WILL WASTE IT ON ILLEGAL SUBSTANCES.*
I'm not saying raise minimum wage just to do it but it makes sense that if cars, property taxes, and housing have doubled in price in 15 years then wages need to catch up. Plus automation happens because it's a one time investment versus salary and taxes forever on a position no matter the wage paid.
In the past i was for giving the rich a tax break because they furnish job for the people but when you out source the jobs to other countries then why should you get a tax break because the economy was good until then like textile do you know how many lost their job that paid tax
I’ve programmed actual and simulated taxes for billions of dollars. I projected thousands of years out. It’s not the income that matters. It’s the assets.
His opinion on automation is basically wrong either the employee salary is 5 dollar per hour or 15 and more your job Will get automated doesn't matter how low are you getting paid...
People think that goods and services come from the Goods and Services Fairy. They don’t, they come from people who work. Disincentivize work and we all have fewer goods and services to transact. We all become poorer.
@@deceiver123m Raising taxes on the rich disincentivizes the rich from hiring and starting businesses in the country that raised taxes. Paying the poor to not work disincentivizes the poor from working. It’s very simple. If you want less of something (like smoking and drinking for example) tax it. If you want more of something (low income housing, diversity and inclusion, business formation, people not working, or child birth for examples) subsidize it.
@@CaseyBurnsInvesting so those rich would start businesses in another country. So they're internationalist? Sounds like those people are a threat and shouldn't be allowed to do business here to begin with
Alberta is a great small scale case study of this. They voted in a far left NDP government in 2015ish and they immediately raised taxes both on businesses and citizens which trigged a bunch of business closures, personal bankruptcies and the wealthy moving out of the province or saving instead of spending. They proceeded to take in less tax revenue despite higher rates than the previous government and they had caused massive amounts of small business closures and bankruptcies to the citizens. They were voted out in a landslide in the next election.
@@Grumpy-Pants Of course it was a piece of the pie, but Alberta did better economically in the same environment both before and after the NDP experiment. That wouldnt necessarily be the case if oil was the the driving factor. Poor economic decisions by the NDP, including raising spending and raising taxes, was a far, far larger piece of the pie. Not to mention, they played a very large part in shutting down the oil revenues themselves.
The majority top high income tax payers pay about 12% average on their total income after using their loopholes. So let remove all those loopholes and start the flat rate tax to test the Laffer curves. Does the laffer curve explains the Reagan Supply Side economy i.e. cut taxes and increase spending, eventually balance the budget. But at least we can see that Reagan hoke i.e. laffer curve and the Supply Side produced the current $35+tr national debt in 40 years. I would say at least the both parties love the Supply Side Economy. The 80% US citizens do like and practice the Supply Side economy at home and in their daily life.
What about an average of over 2 trillion a year in unaccountable off-budget borrowing (2000-2014). Total Fed. Res. borrowing 133.8128T face value less growth 7.8922T / 133T = about 94% the face value devaluative consequence, and per bill/added fiat credit, that is, at about 94%. Go from there...
I think he's wrong if you text everyone above the average income all of the excess and redistribute it to all the people below the average income you would actually have less because the government is like a middleman with corruption operating costs and so even if you text enough above the average to hand it to the lower average by the time the government got done with their pilfering it would be less left to give to the poor people
Arthur is 81…sharp as a tac. Look at Sleepy Joe …can’t speak without a script or flash card or teleprompter. We are fraked.
Super fraked 🥴
Yeah, good point, he's even older than Biden.
Super Duper Fraked
Your content is disgustingly underrated. You’re the goat 🔥.I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability
Invest globally in bitcoin, gold, silver, forex market, commodities. Just don't be left out and save yourself
Thanks for the insight I remember friends calling me crazy when I started investing in bitcoin now I shut them up with my 4 figure weekly return
@Collins Markson Hey, this is a computer age. Peeps who aren't even traders make money from the crypto and forex markets ,how many millionaires do you know who have become wealthy by investing in savings accounts?
Very helpful, this is what I needed to hear today.
@Collins Markson My personal portfolio/investment manager; Mrs Rebecca Leigh Jones , after a whole week of research,she runs an investment platform where you don't have to undergo any stress in the trades, she manages my trading account which i opened with a capital of $3000 and now i have grown my portfolio up to over $6500, a huge success.
would love to see Thomas sowell interviewed here on valuetainment.. would share that interview everyday for 1000 days straight!
Guess we should cut CEOs salary, that would free up a lot of money.
Been inspired to go deep into taxes, thanks Arthur.
I'm new to the Cryptocurrency market and I want to begin investing on crypto assets in order to secure profit in the future, can I get any guide on how I could begin to avoid making losses?
So much profit can be made in the Cryptocurrency market and also you can make losses too, I'll advise you to seek the help of a Cryptocurrency professional to avoid making losses
I began investing in little cryptocurrencies with potentials early this year like the xrp, safemoon, and the doge coin with the assistance of a good cryptocurrency analyst and I've been able to make quite a lot of money on them
@@tomasfernandes1635 Do you know any professional cryptocurrency expert, I can speak with concerning Cryptocurrency investment?
@@leonardokessler6057 Yeah, I work with Richard Davis in making profits on crypto assets
Yo!!!! I work with Richard Davis aswell, he gave me a grass root knowledge on how I can begin making money in the Cryptocurrency market ...
Economics is as behavioral as it is logistical. Incentives are the key. And taxes are a negative incentive.
Everyone needs to see this.
I whole hardily agree. Less money to be spent on Rolex watches, less money spent on luxury properties, less money on private school tuition, less money on cosmetic surgery, less money for Tesla and Lamborghini vehicles. Indeed the hardships will truly be so utterly unbearable !!
You do understand that less money spent on those things hurts the working class that produce those things, right? JW
He looks incredible
Very informative
Why don’t we have guys like this in government 😕
This guy is phenomenal.
Would be good for him and Peter schiff to talk about inflation. I would watch the shit out of that. When he said he doesn’t believe inflation will be in issue in the long run, that kind of worried me.
Eh. He's got 50 years of insight. That's way more than Peter Schiff and Schiff has the same message all the time. He's always talking about a depression happening constantly. He's an investment banker. He feeds off of people selling stock and assets cause he makes money off of it long term.
@@HH-le1vi ua-cam.com/video/WWYRlPOaFxU/v-deo.html
I ran into him outside a Chinese place a few years ago.
People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in bitcoin
As a beginner trader you like to take the opportunity to earn a lot of money... Get a professional broker and start a career in bitcoin trading
BITCOIN: IS THE ONLY TRUE DEMOCRACY EVER EXISTS IN THE WORLD
Buy and invest in bitcoin and other cryptocurrency today!!!!
Expert jones is obviously the best, I invested 2000USD with him within 14days I made profit of 15,800USD
Please how can I contact Expert Jones carter
Nice and interesting interview !
The solution is 0% income taxes and capital gains taxes for both individuals, partnerships and corporations. No payroll tax. No death taxes. No social security tax. No tax filings necessary. Only have local property tax, 20% VAT/consumption tax and particular import tariffs. That's it. Problem solved. This would result in an economic boom like never before seen.
Yeah bro we had that, it was called the gilded age. Haha you phobes like to always act like we didn’t try that
@@johnkiriakakis439 the greatest period of prosperity increase in America for middle and lower class - yeh 1865-early 1900s. Yeh, screw that. Keep the current corporatist system, keep screwing the middle class. Nice one.
The biggest beneficiary to 0% income taxes you
Midwit (ie someone who has just a slight above average intelligence, and is used to pushing around 97% of pple with IQ below theirs, but gets their ass kicked when they encounter the 3pc who are smarter & wiser than them) is the middle class not the rich, because the rich can easily minimise their % rate, whilst the middle class pay 30-60% of their income just in income taxes, and have less means to reduce that %. Income taxes are destructive of productivity & prosperity, much more than consumption taxes. In a free market, prior to 1960s, healthcare/hospital costs could be paid in cash. University b4 govt subsidised/protected loans could be paid by working the summer & graduating debt free.
You are way out of your depth Midwit.
*SMH If we look at raising of taxes during post world-war 2. We see there was an economic growth expansion until the post-Vietnam era. When corporations and individual citizens paid flat tax rates. Now, some 70-80 years later, we see Corporations demanding to be considered like People for political contributions BUT without accepting the taxation that goes along with being an individual status they seek All problems with our economy point to decreasing contributions by the Corporate structure. Not increasing poverty of the middle class but simultaneous and consistent tax contributions by the middle class. Corporations also blame immigrants, when the Industrial complex profits from military expansion into other territories necessitating an influx of IMMIGRATION into our own conquering Nation. By those immigrants caught in those wars; like Vietnam. Remember, the Corporate sector has ability to affect timing of inflation and stock purchasing by shareholders. This exploitation also contributes to further inflation from gaming the system by Corporations. It's (economic problems) Corporate manipulation or Shareholder corruption. Those who do not learn from history are condemned to repeat it*
Taxes is NOT the problem. Spending and deficits are. People, the left AND the right must cut spending. Right now spending is almost 3 times taxes. Can't hold.
Who the hell thumbs down facts?
While I resoundingly agree with his general principles and he makes many excellent points, Laffer is flat out wrong on some points, because it's not merely a logical or math equation. Scandinavian societies have some of the highest labor market participation rates in the world, and yet people generally earn close to the same wage (not 0). However open-minded and educated they may be, Americans are still so "American" and struggle to comprehend other systems and realities. Oh, and by the way, there's nothing remotely high about the federal minimum wage. So damn low is a much more accurate statement.
@Channel name No propaganda anywhere; I'm simply saying their take home pay is not 0, as Laffer says it should be. I do understand the realities of the Scandinavian model, and I never said I wanted it. I was simply offering a counterargument to his argument. The main point is that "work" is not as elastic as economists like Laffer would have you believe. It has been proven time and time again that the majority of people will continue to work no matter what the highest personal income tax rate is. Other taxes and regulations can cause unemployment to skyrocket, but that's another story. Go fuck yourself.
The Scandinavia comparison is wrong on so many levels, but it's trotted out all the time.
Scandinavia is TINY, even when Finland, Sweden, Norway and Denmark are combined, their population is less than that of New York. The combined GDP is lower than NY both as a raw number and proportionally.
Scandinavia possesses large mayoral resources in greater proportion to population than most.
Scandinavia is also largely monoethnic. They possess a shared heritage and shared culture.
It just isn't a proper comparison at all.
We complain Cuzco it's to many taxes income sell property taxes on your utilities it's every where too much
This video is literally don't tax the rich and the majority of the comments are people saying this guy is sharp for 80 years old. What the actual?????
"Using govt as a tool to create prosperity is like frodo using the ring of power to create peace." 56:01
I would have guessed that this guest was in his sixties. That he's in his eighties his remarkable
He's been drinking that baby blood lol
i thought the same
high functioning too!
Imagine saying that to these peoples face and the reaction you get back as an individual and others are there to witness it.... that’s more true then wishful thinking comments
Some people age more slowly than others.
81?! He looks like he's in his 60s!
Also has the thought process of a 35 year old in 1985
Too many people trying to be content creators instead of productive workers. I blame the get rich quick content creators for pushing a unrealistic lifestyle that many won't achieve. I think it was fine back in the day where you had to read a book about wealth and how to acquire that wealth but now that BS philosophy is everywhere.
Creating is producing. It’s kinda in the word. The market will weed out the creators that aren’t good just like anything else in a free market. The problem is that we are mostly a financial and service industry. The least educated can’t get a middle income job anymore. Service jobs pay low wages
The first half of the year have been tough and mostly influenced and manipulated by the fear of missing out "FOMO" pushing most investors to dumping of assets, with many achievements not met yet. The race to financial freedom, sustainability and flexibility begins right now.
I have secured financial freedom investing in bonds, equities, EFT's and some digital currencies
I'm diversifying and recently my crypto portfolio yields better profits more than any other commodity despite recent dip in price. I'd say "think like a bear and invest like a bull".
I wanted to invest more in crypto but the fluctuations in price of Crypto discouraged me into dumping.
@@alissacampbell4377 That is why you should consider working with an expert with strategic features that yeilds all Holders a long term stable Return of investment for life.
The current altcoin landscape is characterized by extreme volatility, FOMO, dumps, and inflation. Professionals like Henry Brown offers a deflationary assets with protections for dumping and monetary incentives for holding.
"Much easier to be an accountant than it is to be an economist"
I'm an accountant my self, but this one may be true. Haha
Wow! He’s 81 years old and as sharp as anyone ever could be.
All going to planned.
This man is 81! Would have guessed maximum of 70. Not only that but still working and contributing to society. People have to admire this. You know he definitely doesn’t need to work he just does what he loves.
Would be nice if we didn't get taxed on Overtime. I make twice what I made when I started my job 12 years ago but only take home about 25% more. Shit is ridiculous. I worked overtime and watched over $1,400 taken out my check (WEEKLY) for personal income tax. Makes me not even wanna work overtime.
Move to Florida or TX where there is zero income tax. Vote with your feet. I refuse to be used as a tax piggy bank in high tax states. And when I travel there I use my credit card so their extra "sales tax" just makes me more money in credit card bonuses.
Start your own business and have better control of income and taxes
@Tobin Short bingo
You're prob being withheld at a higher level for the OT so your payroll doesn't underpay..you'll get it back on you tax return...you should max out 401k and HSA to reduce tax paid today
This interview was so informal and I felt like I got a brief course about taxes and so on as a bonus. I felt a real genuine love for humanity too from Art and he gave me a real sense of hope. I love how you're to the point and conduct interviews Patrick. It's done in a timely manner that's give you a good idea about the subject and relative to that subject.
What are we getting for 40% OF OUR INCOME. I mean seriously, you don’t even spend that much on shelter. What the hell are they doing??? Why does everyone know how to spend my money but me?
Get rid of federal reserve
Then
Recalculate
What should have happened was a back to work bonus instead of unemployed bonus Also taxes hurt the economy because they affect middle to lower income families the most the ultra rich always find a way around taxes and the lower middle class end up having to pay for this shit
Everyone wants to talk about raising taxes on the rich, but noone wants to suggest reducing the welfare and social programs. We are living in a world of welfare state and excessive social programs. Add to that ultra low interest rates and we disincentivize hard work and spending accountability. The average person is their own worst financial enemy, and we encourage it with bad Gov spending and policies.
Reduce taxes, raise interest rates, decrease welfare and social programs. Get people back to hard work and self sustainability.
as someone who's been on and know of those on these programs, they regularly cut it and check on you. at this point, they would have to just do a way with it right? Its ment to be temp anywas.
what I don't understand is why they don't do away with less tax exemptions?
@@cetriyasArtnComicsChannel I believe in zero tax shelters.
@@cetriyasArtnComicsChannel Assistance should never be permanent. Nothing is free in this world. You either pay for it now or pay later. Either work hard now or work hard later.
You can never truly know the value of a dollar until you have had to work hard for it.
@@aaronchyea There are a number of tetra and paraplegics that might have issue with that. They would be the tip of the iceberg.
That's the thing about social programmes, they are to cover EVERYBODY!
But yeah kill em all off through starvation. Coz that Christian innit?
Laffer is a pillock that has no idea of reality. Why anyone thinks he has something to say I really am at a loss. Only those with a similar level of complete disconnect would entertain his viewpoint.
@@allanfoster6965 I would hope and assume everyone is reasonable enough to understand that those with serious disabilities, unable to work and support themselves, would not fall under that umbrella. The same goes for elderly people who are passed working age.
Those who are able to work, yet choose not to, are the ones I'm referring to. And yes, there are plenty.
And there is no greater way to feel a part of a community or country other than being one who contributes to it, rather than living off of it.
Sustainability is so important, and true sustainability starts with individuals developing the skills and work ethic to sustain themselves and their own family.
Can’t watch it because the dude still owes Peter Schiff a penny he bet.
What was the bet?
I just wanted to say this : They are differents ways to love somebody.
We all know the classic "hug kiss blabla" version, But... having a man trying to prevent us to be really damadged by the consequences of not knowing how to deal with the economy, and interviewing people who can help us understand it better so we can take care of our families and ourselves...If that's not a version of love, I don't know what it is.
Thanks Patrick. Thank you all valuetainment team.
We all know taxes and spending is fixable. The problem is ideology in government. We have individuals with anterior motives. This gives too much benefit of the doubt to government officials. They all don’t mean well is what I am saying.
I think he's talking about 80% or more
Taxation without representation has never been clearer than 2021!
Please , don't tell me the 16th amendment and the Federal Reserve Act were both coincidentally passed in 1913, right before ww1.
Holy cow this guy looks like he's 58 years old!!!!!!
“Thinking about the government correctly will allow us to use government as a tool for prosperity.” What a brilliant interview. What a brilliant man. Thank you for having him on
The one percent has been doing for decades! The present tax structure is for Corporations, Banks, investors, real property owners, entrepreneurs. It's not for working people, but understand, the stage is not big enough for everybody. Someone has to have the short stick in the configuration.
*Every family has a person who breaks the chain of poverty. I hope you will be that person!!*
Taxes are a very complicated issue and if you raise taxes on one group of people it’s affects the whole economy. Great video!
Offcourse Pat will promote the agenda that taxing rick will be bad since he is worth more than $150 million dollars himself
Forrest Gump is a movie, and I don't believe it's based on true story.
Was based on a book.
@@ctrlaltdebug A real book.
"How come there are 70 million Americans that disagree with you." In, 2018, only 113 million paid any income tax at all. That's over 200 million that didn't, with over 100 million adults. If they don't pay any income tax...
Just ebcause they didn't pay doesn't mean they disagree lol how many are on welfare that wont pay tax, how many earn below taxable rate etc... I lifes more complex than that.
@@aurelianspodarec2629 I find it highly unlikely that a lot Americans that don't pay taxes would agree to paying taxes so that higher income earners might be less burdened.
@@chrissthrlnd Not sure I understand you.
There aren't that many higher income earners - it also depends what yo consider higher.
I can tell you though, people that classify for the higest taxt rate, and get taxtes 63% - they stop to produce and its not worth to produce more for them.
But I feel we are lost with the convo.
What you don't seem to understand is that the so called 1% pays over 40% of the total Income tax revenue.
@@gabriel-uc1uz I wouldn't I understand that? Its in the same statistics I quoted. The bottom pays nothing. The top pays about 27% of their income.
People with a very low IQ can often be given something to do. It might need subsidy, but gives them a meaning.
I would take what Art Laffer has to say with a grain of salt. In 2007 he got schooled and taken to the cleaners by Peter Schiff over the subprime meltdown. He still owes Peter a .1 cent over the wager.
💯 this guy leaves out all the real world,and thinks all fantasy
81 years old?! They don't make them like they used to.
Amazing video, balanced system though not sexy is best
Hes the youngest looking 81 year old I've EVER seen!
when Dr. Arthur Laffer talks about Dr Jordan Peterson (41:00) .....the way he answer about helping people is really awesome - but he also admits its a balancing act and i also admit its a balancing act
Tim Pool needs to watch and learn from this video. Taxation, especially Progressive taxation, isn't the solution to preventing millionaires / billionaires from "flooding the political" zone.
Tim changed his stance on 2A. He can change on taxes too!
I'm sorry, but the biggest lobbyist group in the USA is not the big corporations, it's the lower class people's vote. That's why politicians allow the US to take on a massive budget and trade deficit in order for them to be able to promise them free money that they the politicians themselves do not have, but that will both take from others to give to them AND print the remaining.
Liberals watching this: REEEEEEEEEEEEEEEEEEEE
He conceded that he's been wrong in the past and doesn't claim to know EVERYTHING! Even if he didn't, there's still value in the conversation! Come away with something to mentally process and make your own deductions! Jesus...these comment sections be so polarizing it's ridiculous! Smh...
Looking great for 81 :D fantastic interview !!!
America is the best country to make money but not to live. A lot of Asians realize this and we bound out to start our own business in other places and live the good life
The Kenyan government should watch this
Wakanda
Wake up..Americans should be aware this is happening here
Man, we have had the worst government ever in Kenyan history, they taxing the hell out of entrepreneurs and producers!!! Man, I can't even launch a business
Funny thing is that Kenyan government and actually many African governments raise taxes too much that everyone else's enters the black market
Hi,bro .Am also from Kenya.Am in kitengela(kajiado)
I wonder if there will be any acknowledgement of all the multi million dollar companies with effective tax rates of less than 10%, due to tax avoidance?
@Channel name Why wouldn't the objective be to instead enforce a higher effective tax rate to corporations? Are we that apathetic about getting businesses to operate at a slightly lower margin; that we effectively sacrifice all these tax funded benefits that even the wealthiest use? To drive a Mercedes, a road would make the trip a little less bumpy.
Letting everyone off the hook for taxes can be quite destructive. i.e. Kansas.
@@IntrigueAvenue taxes are destructive not capitalism
@Channel name It becomes particularly troublesome given America could really improve their health care issue if there was some additional tax funds to fix it (and some moral compass).
American government spending isn't being invested well, and automation presents an issue larger than it is perceived to be.
My solution is based off companies taking a lower margin % (different from overall margin - there's a huge sector of America that doesn't spend much currently because they're too poor). If the entire population were engaged in spending, that would address the loss in additional taxes. I do concede that actually getting businesses to play fairly is basically impossible though. I just think there are MANY businesses (of all sizes) that are cooking their paperwork, because white collar crime prevention isn't a priority.
Is there ANY way to address the wealth gap?
How do you say their isn’t inflation? When I drive into town there’s a new billboard for little Caesar’s pizza. I remember for my entire 30 years it’s been $5 hot and ready. Now it’s 9.99!! Last year it said $8.99. It never moved above $5.00 until the lockdowns.
Subway is the same. For decades it was always 5 dollar 5 dollar! Foot long! Now it’s $5 for a 6 inch.
When the crappiest fast food chains change prices 2x its a sign.
Yes I noticed this myself I used to buy subway as cheap “healthy ish” lunch for work for under 10$ for a meal now it’s 15$ same meal crazy I just recently cut out all random expenses tho and eat at home so doesn’t affect me that much .
@@abbybuds1697 Watch your grocery bill as well. Here in Texas my grocery bill used to be around $55-65 every two weeks. Now that same bill on Thursday was $85 and I was swapping stuff out for small or cheaper items. I also pick up a frozen pizza maybe once a month instead of ordering it in...The same pizza was smaller than the one I already had in the freezer.
So when they say the price isn't changing when it comes to food, it's the portion that is dropping little by little.
Brother, when social security recipients pay more in taxes than corporations then you have a problem.
It's not the poor versus the rich.
It's citizens versus corporations.
Social security is basically under funded because it’s caped @ 120-125k so only the middle class pays it, companies match with the payroll tax but those aren’t enough to sustain it.
How about be nice and have kids, so your retirement is secure and end the social security Ponzi scheme.
Thanks @Patrick for arranging thease type of interviews which have good content and I got to learn so much. Way to go Pat . Really appreciate your efforts.
This guy's Robin hood story is straight jibbs. Good luck stoping the Taxes from going up. Taxes have become a booming biz. The issue is how efficient those Taxes are used within our economy and society. Big government spending is not going anywhere look at our military. This guy's beyond outdated. He's forgotten at this point.
God bless you guys! He loves you so much that He even sent His son to die on the cross for you and your sins! Jesus loves you so much that He even gave His life to set you free and give you a second! Please make the choice and follow Him before it’s too late! He can return right now! There are gonna be no excuses on judgement day! God has a plan for every single one of you so trust Him and everything will work out! Start reading the Bible and getting into the word of God! The more you spend time in God’s word, the more His identity becomes your identity! God‘s word over this world! Start spreading the word of God to reach more lost soles! Continue steadfastly in prayer, being in it with thanksgiving! I have a big God that can do big miracles and you can too if you just make the choice and follow Him! God didn’t say that we wouldn’t have any storms, but He did say that He would stay with us when they occur! Jesus, we need you, we can’t do this alone! Thank you, God bless you!
Northern Europe & Australia have the highest household " business debt in world. Are our standard of living beter paying 40% - 80% tax no
The economy will never recover until government(s) reduce their budget(s) to live within the framework of a free market.
key word never
Wrong. Because they have been broke for a long time and it didn’t matter. It’s all fiction.
Governments print as much money as they like. They can tax over generations to pay it back. Governments use debt as an asset, not as a liability. I would suggest you look up Prof. Mark Blyth of Brown University on UA-cam. He i think has a much firmer grasp on reality than this racist misogynistic out of date, out of touch eejit.
@@allanfoster6965 Exactly, it’s like a person who has a gold mine with infinite gold. Then people say, you aren’t allowed to dig for more gold because it would devalue the gold in our pockets.
@@allanfoster6965 people think banks and gov’ts are on the same side of the accounting T Table. Our assets is their liability and their liability is an asset unlike for a person. Before people talk about economy, taxes and ideology, they better learn accounting and chaos theory to understand they don’t know what they are taking about.
Can’t believe this dude is 81! He looks like early 60s. You know he’s happy in life.
I disagree with this analysis. This economist only looking at select data to develop conclusions. The wealth gap was the smallest during 1950's, when 1 earner family permitted house buying, 2 cars, summer vacations, lots of disposable income. The problem is the wealthy have too many tax loop holes, and feel they should not pay taxes since they have employees, and the employees pay taxes, so I do not have too. Wealth has increased tremendously for the rich, and has remained the same or declined for everyone else. This analysis is not comprehensive enough to discuss wealth gaps, whats better for economy. Look at our old, falling apart roads, bridges, airports, powerplants, all infrastructure. Compare to other countries, including China. Not collecting enough money and not spending in right places
Exactly, entitled conservatism. Never learned to reflect properly. Unfortunately, loads of people eat it up without questioning
@@vincentruben4365 I agree. If the largest number of people increase disposable income, hey will spend more, and a portion will return back to product and services provided by businesses these employees and owners work for. If you choke off the disposable income, concentrated with a few who can't spend it all in 3 lifetimes, you have a weaker economy. The owners and executives cannot run businesses without employees and should be giving back to them and pay taxes to maintain and improve infrastructure, school performance, etc
The wealthy pay 80% of the taxes, so what are you talking about?
Taxes are for corporations and businesses
100 years ago they registered every living person as a corporation, gave them a number on their birth certificate and now tax living people as corporations which is unlawful.
Go to your state assembly and change your status back to a living person and eliminate being taxed
Laffer is wrong about inflation, look at the reverse repo markets.
This guy ridiculed Peter Schiff back in 2005, yet he was wrong and Schiff was right. Should you really listen to this guy ?
Have you ever been wrong? That he said things that you viewed as being factually incorrect some 16 years ago now makes him ineligible to have an opinion worth hearing?
I look at anything I hear critically and I decide whether what they're saying makes sense or if they're talking out of the wrong hole.
I am not saying you're wrong about him, just that there may be some value in what he has to say.
About what?
People choosing to not work seems to be good for those workers in the job market that do choose to work, it gives them more options and higher pay.
it may be that the wealthy business owners simply want more supply of employees to lower the cost of employees
And this comes from a person who wants to be a wealthy business owner and in general agree that people shouldn't be paid to do nothing.
But higher employee pay may lead to higher prices or lower company profits or a little bit of both, and Image other externalities hitherto not considered may occur
The people choosing not to work cause those who do work to also be robbed of more money by Big Daddy Government in order to give more money to those who refuse to work. Terrence Popp has a great video called "System Surfers" in which he explains how many of those who refuse to work can collect enough from BDG to equal 65-75 THOUSAND dollars per year. That's higher than the average income in many places.
And that's not counting the baby mama, baby daddy, house rent scam. Guy starts LLC, LLC buys house, LLC rents house under Section 8, guys baby mama moves into house through Section 8, guy claims his parents' or friend's house/apartment as his permanent residence even though he lives with her most of the year. Detroit & Chicago love this scam.
Exactly, an opportunity not taken goes to the person that wants it the most. Care about what you control, there are always gonna be lazy freeloader. Those people living off the government aren’t living in some sort of luxury.
*GIVE MONEY TO THE RICH-MINDED AND THEY WILL TAKE EXCELL-ENT CARE OF THE MONEY AND INVEST ON ASSETS, EXCELL AND MULTIPLY THE MONEY. GIVE MONEY TO THE AVERAGE-POOR-MINDED AND THEY WILL SPEND IT UP ON LIABILITIES, LUXURIES AND PLEASURES. GIVE MONEY TO THE HOMELESS AND THEY WILL WASTE IT ON ILLEGAL SUBSTANCES.*
I'm not saying raise minimum wage just to do it but it makes sense that if cars, property taxes, and housing have doubled in price in 15 years then wages need to catch up. Plus automation happens because it's a one time investment versus salary and taxes forever on a position no matter the wage paid.
Yeeeeesh if only we had decades of trickle down economics..............🤣😂🤣😂🤣😂🤣
I got an EU taxation ad before the video.... What coincidence.....
Same here, eu is going very left unfortunately
@@realTomKos thats true.
In the past i was for giving the rich a tax break because they furnish job for the people but when you out source the jobs to other countries then why should you get a tax break because the economy was good until then like textile do you know how many lost their job that paid tax
America taxes makes me feel my country is non-existent, I am Nigerian, we do not pay taxes we are exploited
“Other than all that, it’s a great idea!” This guy sounds like dr.berg. Hahaha
I’ve programmed actual and simulated taxes for billions of dollars. I projected thousands of years out. It’s not the income that matters. It’s the assets.
Smart as a whip unlike someone we know**cough**Biden
If you follow the constitution you can eliminate income taxes and keep 100% of your paycheck
@@EpsilonEnto you mean “trample” because it’s pretty clear what it says
His opinion on automation is basically wrong either the employee salary is 5 dollar per hour or 15 and more your job Will get automated doesn't matter how low are you getting paid...
Raising taxes is stupid. Getting rid of loopholes so everyone has to pay a minimum is not.
What should be the minimum tax rate?
@@doublevision5465 no clue. Im not smart enough to decide that.
People think that goods and services come from the Goods and Services Fairy. They don’t, they come from people who work. Disincentivize work and we all have fewer goods and services to transact. We all become poorer.
How does raising taxes on the rich disincentivice the poor from working
@@deceiver123m Raising taxes on the rich disincentivizes the rich from hiring and starting businesses in the country that raised taxes. Paying the poor to not work disincentivizes the poor from working.
It’s very simple. If you want less of something (like smoking and drinking for example) tax it.
If you want more of something (low income housing, diversity and inclusion, business formation, people not working, or child birth for examples) subsidize it.
@@deceiver123m lol.... yeah. I am sure they will only raise taxes for the rich 1%. Dream on buddy.
@@GrowYourWealth101 so you think the poor will stop working if their taxes are raised?
@@CaseyBurnsInvesting so those rich would start businesses in another country. So they're internationalist? Sounds like those people are a threat and shouldn't be allowed to do business here to begin with
Alberta is a great small scale case study of this. They voted in a far left NDP government in 2015ish and they immediately raised taxes both on businesses and citizens which trigged a bunch of business closures, personal bankruptcies and the wealthy moving out of the province or saving instead of spending. They proceeded to take in less tax revenue despite higher rates than the previous government and they had caused massive amounts of small business closures and bankruptcies to the citizens. They were voted out in a landslide in the next election.
Oil had nothing to do with this, right?
@@Grumpy-Pants Of course it was a piece of the pie, but Alberta did better economically in the same environment both before and after the NDP experiment. That wouldnt necessarily be the case if oil was the the driving factor. Poor economic decisions by the NDP, including raising spending and raising taxes, was a far, far larger piece of the pie. Not to mention, they played a very large part in shutting down the oil revenues themselves.
Can you interview JUDGE JOE BROWN????
The guy sounded like Ronald Reagan, seriously 😂
Dude looks 68 at tops
I’m going to need to see some ID. Ain’t no way this man 81 years old! 🤔
How does Laffer not think we have inflation?
I'd say the roaring twenties were more a function of the low interest rates rather than income tax rates. Too much cheap fiat currency flowing.
Wasn't even fiat then
I like this guy. I hope that high taxes teaches us a lesson.
The majority top high income tax payers pay about 12% average on their total income after using their loopholes. So let remove all those loopholes and start the flat rate tax to test the Laffer curves. Does the laffer curve explains the Reagan Supply Side economy i.e. cut taxes and increase spending, eventually balance the budget. But at least we can see that Reagan hoke i.e. laffer curve and the Supply Side produced the current $35+tr national debt in 40 years. I would say at least the both parties love the Supply Side Economy. The 80% US citizens do like and practice the Supply Side economy at home and in their daily life.
What about an average of over 2 trillion a year in unaccountable off-budget borrowing (2000-2014). Total Fed. Res. borrowing 133.8128T face value less growth 7.8922T / 133T = about 94% the face value devaluative consequence, and per bill/added fiat credit, that is, at about 94%. Go from there...
I think he's wrong if you text everyone above the average income all of the excess and redistribute it to all the people below the average income you would actually have less because the government is like a middleman with corruption operating costs and so even if you text enough above the average to hand it to the lower average by the time the government got done with their pilfering it would be less left to give to the poor people