Black Monday here we come

[justplugit]

Originally Posted by detbuch

Actually, it makes sense that revenues would immediately fall after a tax cut which was made to stimulate job growth. It takes time for the growth to occur. It doesn't occur "immediately." And the revenue will fall because the "immediate" taxes are being collected before that growth. Higher taxes will always "immediately" create more government revenue than lower taxes. But if the effect of the higher taxes is to stunt job growth and create job loss, the longer, non-immediate, effect could well be decreased revenue. Higher taxes will always garner more revenue, ALL OTHER THINGS REMAINING THE SAME. But if the the higher taxes create smaller markets at the expense of bigger government, all other things do not remain the same, and the "economy" may shrink, and revenues may dwindle.

That makes too much sense.