>Marxist economics >marxists >economics

Wtf I hate marx now

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>>1577811
>Marxist economics
e(I −A)u = e(I −A)(I −A)^−1 l = el = L = Y = e(I −A)p, therefore...

>Reaganomics
dude just cut taxes lol, the free market will fix everything and the wealth will trickle down

>>1578002
>trickle down meme

Conservatives are frequently in favor of cutting taxes across the board, try again.

>>1578013
I'm not sure how that refutes what I said but okay.

>>1578013
dude just cut taxes lol, the free market will fix everything and it will actually increase taxes and fix the deficit

>>1578031
>what is Laffer's curve

Also literally anyone arguing in favor of anything but a flat rate is a total imbecile.

>>1578002
Tecnically, that's a neoclassical understanding of Marxist economics.

Marx himself didn't even like to sum.

>>1578043
It's a curve, meaning there are rates both too high and too low.

>>1578060
Yep. Ideal rate is around 15-20% across the board.

>>1578043
In 2012, economists surveyed by the University of Chicago rejected the viewpoint that the Laffer Curve's postulation of increased tax revenue through a rate cut applies to federal US income taxes of the time in the medium term. When asked whether a “cut in federal income tax rates in the US right now would raise taxable income enough so that the annual total tax revenue would be higher within five years than without the tax cut,” none of the economists surveyed agreed and 71% disagreed

>everyone is a total imbecile except me!
How many prizes did you win in your field?

>>1578063
>Ideal rate is around 15-20% across the board
where is the evidence

Reagan allowed the Federal Reserve to induce multiple recessions for the purpose of driving down wages & crushing unions, spent millions on dumbass imperial pipedreams, started the war on drugs, and died unaware of himself in a diaper.

What a fucking hero.

>>1578074

the curve bro. the curve.

>>1578013
Reagan actually raised taxes on the poor in his second term.

>>1578557
The curve says it's at ~70%

>>1578063
>>1578043
>>1578557
> The New Palgrave Dictionary of Economics reports that estimates of revenue-maximizing tax rates have varied widely, with a mid-range of around 70%. Generally, economists have found little support for the claim that tax cuts increase tax revenues or that most taxes are on the wrong side of the Laffer curve.

>>1578162
Nixon started the war on drugs. I'm not a big Reagan fan either, but why would you make fun of the guy for having Alzheimer's?

>>1578557
Wut

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>>1577811
>trickle
>down
>economics

>>1578557
The Laffer curve was meant to illustrate a counter-intuitive proposition, it doesn't actually measure the optimal rate by itself.
Even more counter-intuitively, the taxation rate that will maximize government revenue may not be optimal outside of the context of the Laffer curve.