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Now assume that you can put 3 of the 10 non-taxpayers back to work
Originally posted by jtma508
reply to post by ErEhWoN
Hell no. That part is EASY. Just lower the taxes on the top percentiles and they'll start hiring people the same day. No really. Honest. Just like they have in the past. Promise and hope to die. No really.
Originally posted by beanandginger
The advantage I see of Romney / Ryan over Obama / Biden is that at least they had half the equation correct.
Originally posted by beanandginger
My son is involved in a grade school debate portraying Mitt Romney.
He needed a simple but effective way to explain how the math works on Mitt Romney’s tax reform plan.
Here is what I gave him….
- Assume each of the 20 kids in your class is either a taxpayer or a non-taxpayer (which could mean retired, unemployed, disabled, etc.)
- Assume 10 are tax payers and 10 are not
- Assume the 10 taxpayers pay an average of 5 cents each in taxes for a total of 50 cents in tax revenues and also assume that the non taxpayers cost 5 cents each for a total of 50 cents.
- Now assume that you can put 3 of the 10 non-taxpayers back to work
- Now you have 13 taxpayers at 5 cents each in taxes which provides 65 cents in tax revenue
- Now you can afford to cut everyone’s taxes by 1 cent (20%) and still have more total tax revenue (52 cents) than you started with because more people are in the work force.
- Also 15 cents that you were paying to support the 3 non-taxpayers that returned to the workforce goes away and your total expense is reduced to 35 cents.
- You just managed an economic turnaround that included the following;
a 33% decrease in unemployment,
a 20% reduction in individual taxes,
a 4% increase in overall tax revenue,
a balanced budget
a surplus of 17 cents (33%) to be applied toward overall debt reduction.
The message to my son’s eighth grade class and everyone in the US is this – The math doesn’t lie.
It doesn’t need to be harder than this.
Originally posted by beanandginger
- Assume each of the 20 kids in your class is either a taxpayer or a non-taxpayer (which could mean retired, unemployed, disabled, etc.)
- Assume 10 are tax payers and 10 are not
- Assume the 10 taxpayers pay an average of 5 cents each in taxes for a total of 50 cents in tax revenues and also assume that the non taxpayers cost 5 cents each for a total of 50 cents.
- Now assume that you can put 3 of the 10 non-taxpayers back to work
- Now you have 13 taxpayers at 5 cents each in taxes which provides 65 cents in tax revenue
- Now you can afford to cut everyone’s taxes by 1 cent (20%) and still have more total tax revenue (52 cents) than you started with because more people are in the work force.
- Also 15 cents that you were paying to support the 3 non-taxpayers that returned to the workforce goes away and your total expense is reduced to 35 cents.
Originally posted by KeliOnyx
Job creation is the side effect of demand created by the consumer. With all the consuming that goes on in this country, job acquisition and creation should not ever be an issue.
Originally posted by beanandginger
My son is involved in a grade school debate portraying Mitt Romney.
He needed a simple but effective way to explain how the math works on Mitt Romney’s tax reform plan.
Here is what I gave him….
- Assume each of the 20 kids in your class is either a taxpayer or a non-taxpayer (which could mean retired, unemployed, disabled, etc.)
- Assume 10 are tax payers and 10 are not
Originally posted by beanandginger
- Now assume that you can put 3 of the 10 non-taxpayers back to work