A Dearth of Taxes?

I was hoping either you or Russ would respond to this. What an editorial! Are there no limits to NYT idiocy?

That makes me curious, how much of that 25% increase in tax revenue since 2001 is the consequence of new or raised taxes in some sectors and how much is the consequence of the Laffer Effect? Is it mostly Laffer or mostly point o' the gun?

"Indeed, the growth in tax revenue since 2004 is due mostly to the spectacular increase in corporate profits, which have grown at the expense of workers’ wages."

The Soviet Union is gone but Marxian fallacies are eternal.

This country’s meager tax take puts its economic prospects at risk and leaves the government ill equipped to face the challenges from globalization.

Must be comparing the U.S. to some European countries.

I think it was one of the guys at FEE who pointed out that very few people are socialist these days, but almost everyone still accepts the socialist critique of capitalism.

The interesting thing is, the 'capitalism' which socialists critiqued never existed, and the 'capitalism' of today is a different beast altogether.

Responding to the NYT's idiocy would be a full time job. I blame the school system that creates and economically illiterate populace as their source of readers. It's enough to make one root for the sensational tabloids, which most people at least don't take to be serious journalism.

Marc Hodak,

It's not just economic illiteracy. It's a miracle that the products of the American public school system are literate at all. The only fluency students achieve in public schools is socialist drivel. Socialist concepts were pounded into us on a daily basis - often at the expense of real subjects. Most of the public school system's products turn out like Muirgeo.

Methinks is right. I'm constantly amazed that we're not worse off than we are. I take it as a testament to how weak socialist concepts are (in addition to how poorly they're taught) that people (like me) come out of LiberalU craving another framework (eg "the economic way of thinking"). Alas, most people are not so intellectually curious to examine the counter-arguments to socialism/statism.

At least Muigeo is such an intellectually curious person...

Based on my personal observation, an awful lot of Americans fall ideologically into the same general category as the supporters of Juan Peron. Fortunately, these Peronistas (1) often have investment portfolios (and livelihoods) that would tank if their preferred policies were enacted and (2) have memories so short that the price controls or tariffs etc. are forgotten quickly when the electorate moves on to the next "crisis". The good politicians know how to fan the flames without letting the people burn themselves.