Lake Minnetonka Liberty

"Man is not free unless government is limited"

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Economics For Dummies: Raising Taxes Does Not Increase Revenue

I thought the dumbass left learned this when Reagan was in office, but apparently they are too stupid to learn from history. Raising taxes does not raise revenue, period. It decreases revenue, what part of that do you morons not understand? By the way, that includes “taxing the rich” you Bolshevik schleps. The 1980′s proved that beyond a shadow of a doubt, yet these Obamaite morons go the opposite direction.

Britain has a new 50% income tax rate (soak the rich) and they figured it would raise an additional 1.5 billion pounds. Nope. Not even close. And this is the same road to failure that Obama is leading us down.

The amount of income tax paid fell sharply last month in the first formal indication that the new 50p higher rate is not raising the expected amount of revenue.

What Obama and other leftists (whether here, or in some other country) need to understand is, it’s not your money, period. You do not have the right to take other people’s money. That’s called theft.

We have charities to help those in need, and if you feel strongly about that, donate your own money. Government is not supposed to be a charity, period.

Tax-Happy Patrick Pushes Rate Hikes Even Massachusetts Dems Oppose

Massachusetts Gov. Deval Patrick last month announced plans to push an array of new taxes and tax hikes totaling $250 million.

But news this week indicates that it is a package so outlandish that even some Massachusetts Democrats are bailing on it.

Patrick wanted to subject soda and candy to state sales tax. In addition, he wanted the legislature to approve a 50-cent increase in Massachusetts’ cigarette tax, the revenue from which would reportedly have been used to ensure uniformity among taxpayer-subsidized health benefits that are made available to low-income resident immigrants.

Read the rest at Big Government