The Best Tax Lesson with Economist Art Laffer
Updated: Jan 18
This was just FANTASTIC!
A quick summary (but you really need to watch this): At what tax bracket is too high to dis-incentivize people from working, but where can it be optimized to bring in the most tax revenues?
This comes on the heels of recent headlines of Representative Ocasio-Cortez's comments about a 70% tax on people who are earning over $10 million in a year. (To clarify, that's 70% on the amount above the $10 million, not 70% on all of their entire income).
Why am I sharing this with you?
1) There was a time when politicians put the country first and party politics second. You'll understand that, at least on an economic perspective when you watch the interview.
2) We are in a great time for taxes when we compare to the country's problems. It's time to take advantage of it. Just see the US Debt Clock to get an idea of what's going on with our country's economics.