Not fascinating at all, Solerso.Correlation is not catiauson and the vast number of tax loopholes and deductions during those periods reduced the effective tax rate to the mi-20’s from the mid-90’s. Those are but two of the reasons this is not fascinating.
> When it comes to taxes, we’ve come along way, baby.Not as far as we think. They’ve just spread out the taxes into miseellancous “license fees”, and “usage fees” and other such folderol excuses for taxes.Less taxes on the high end, sure, but probably more on the lower end (not to suggest I favor a reversion, mind you).> I’m glad there is some reality being introduced to this site through the comments. Supply side economics is total voodoo. It is essentially mortgaging the future for today.Spoken like a complete fool. Thanks for letting us know that there are always those who can’t do simple math and think they can stress some numbers but ignore others… like the debt as a percentage of assets or GNP.> for the past 2 decades is going to stunt growth for years.So the Austrians have been whining for about a decade now, yet the economy — wealth (total assets) as well as median income, both in constant dollars — steadily increase in spite of their cries of impending doom.> … made you take a cursory glance at Hayek or Mises. Guess not.Yes, I’m sure they don’t pay them any attention at all. Or perhaps they see the same issue with Austrian economics I do, which is a failure to explain why the economy continues to grow despite the Austrian determination that it cannot possibly.I think there are certainly elements to the Austrian scheme which work, mind you, but at the least it needs substantial adjustments to explain the last 10 years.The Swartzberg Test: The validity of a science is its ability to predict.So far, Austrians fail that test. Not as badly as Keynesians, but still they fail.
Casa da Xiclet 
Not fascinating at all, Solerso.Correlation is not catiauson and the vast number of tax loopholes and deductions during those periods reduced the effective tax rate to the mi-20’s from the mid-90’s. Those are but two of the reasons this is not fascinating.
GostarGostar
I found just what I was needed, and it was entertaining!
GostarGostar
> When it comes to taxes, we’ve come along way, baby.Not as far as we think. They’ve just spread out the taxes into miseellancous “license fees”, and “usage fees” and other such folderol excuses for taxes.Less taxes on the high end, sure, but probably more on the lower end (not to suggest I favor a reversion, mind you).> I’m glad there is some reality being introduced to this site through the comments. Supply side economics is total voodoo. It is essentially mortgaging the future for today.Spoken like a complete fool. Thanks for letting us know that there are always those who can’t do simple math and think they can stress some numbers but ignore others… like the debt as a percentage of assets or GNP.> for the past 2 decades is going to stunt growth for years.So the Austrians have been whining for about a decade now, yet the economy — wealth (total assets) as well as median income, both in constant dollars — steadily increase in spite of their cries of impending doom.> … made you take a cursory glance at Hayek or Mises. Guess not.Yes, I’m sure they don’t pay them any attention at all. Or perhaps they see the same issue with Austrian economics I do, which is a failure to explain why the economy continues to grow despite the Austrian determination that it cannot possibly.I think there are certainly elements to the Austrian scheme which work, mind you, but at the least it needs substantial adjustments to explain the last 10 years.The Swartzberg Test: The validity of a science is its ability to predict.So far, Austrians fail that test. Not as badly as Keynesians, but still they fail.
GostarGostar