Lower Taxes = More Revenue ???

On this episode of Common Sense Soapbox, Seamus explains the significance of the Laffer Curve to Ron and Bob: High taxes can actually be counterproductive, even if your goal is to increase government revenue.
______________________________
CREDITS:
Written by Seamus Coughlin and Sean W. Malone w/ support from Tyler Brandt and Phil Magness
Animated by Seamus Coughlin
Produced & Edited by Sean W. Malone
______________________________
LINKS:
Laffer Curve:

Ibn Khaldun

Tax History

FEE on Taxes:

[briceonwiley]

“Personally, I don’t really care to see the government maximize revenue. I dislike those guys.” 😂😂😂
Unadulterated honesty; you gotta love it.

[lemond]

The government taking a sack of money from the taxpayer and throwing it directly into the trash is the most accurate depiction of government spending I've ever seen.

[CowCommando]

"Have some respect. You can't call dead people libertarians."
I am dead. You have killed me. I am dead.

[palaceofwisdom]

"No one will spend your money as carefully as you would spend it yourself."

- Milton Friedman

[Jaster_Mereel]

"Let's simplify the tax code and spend less as a government" - said by no elected official ever.

[khronostheavenger]

Ironically, I learned about this in a video game. If you tax too much, the economic quality of your territory will decrease, losing you tax money in the long run.

[MrVic-quqh]

Fun Fact: If you keep increasing taxes you'll eventually run out of money to tax.

[kingenderraptor]

*Me showing the IRS this video* "And now you understand why I don't pay taxes"
IRS: "Get in the police car"
Me: "ok"

[GenericHandle]

Haha, this happened in Washington State some years back when Christine Gregoire raised gas taxes to "boost revenue" and the net result was people just stopped going places and net revenue dropped by like 30% or something like that. Hurt our infrastructure fund for years after that.

[leviwarren]

The laugher curve peaks when Seamus puts out a new video.

[svtxgmu]

I can't help but feel that this and Freedom Toons are made by the same guy.

[Postman]

This and freedom toons are probably the only political channel I watch anymore

[afrikasmith]

"It's time to let citizens keep their own money."

Socialist: You're a crazy person.

[talduker]

go common sense soapbox and freedomtoons

[UltimatePerfection]

Yeah, my mother always told me this: You can probably find a million people to sell something for a 1 of given currency unit. But good luck find one person willing to pay a million for a thing. I think it's the same with taxes.

[InvisibleAmericanPrincess]

Education through animation— We are all just grown children. But if it works, it works. So, don't stop!

[SAClassHunterZero]

Remember, income tax was a “temporary measure” when it was introduced in World War 1.

And also remember, the more money you give anybody, the more likely they’ll turn into a jerk about it.

[TheGoldenFluzzleBuff]

It hit me like a pile of bricks a few days ago while I was explaining the Laffer curve to someone. Sure, there is a theoretical point where the government could maximize tax income. However, the purpose of the US government is not to extract as many tax dollars from people as possible. Their purpose is to protect commerce, ensure our rights are upheld, and protect our property from hostile actors - both foreign and domestic. It should not be the goal of the government to wring as much money out of the people as possible, their job is to make sure we’re protected. Let’s find where that point is, and cut them off from tax dollars moving forwards from that

[David_Bruton]

0:40 MISSED OPPORTUNITY
1) Isn't that neo-liberal voodoo some guy wrote on a napkin in the 80's?
2) ACTUALLY it's much older than that. As early as 1381...
1) Like I said the 80s
*Deadpan blink*
2)...Continues with historical argument

You're doing great Seamus, keep it up! We love you representing and bringing better conversation on Timcast as well!

[LouisWritingSomethingCrazy]

If the government gets more cash, They will never pay down its own debt. Instead they will find new and interesting ways to spend that cash.