Carmine Gorga Blog | A Comprehensive Analysis of the Cassidy-Graham Bill, Through Concordian Economics 101 | Talkmarkets - Page 3
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Carmine Gorga is president of The Somist Institute and a former Fulbright Scholar.  He has published numerous papers in peer-reviewed journals and five books; other publications are at various stages of preparation. He has a ... more

A Comprehensive Analysis of the Cassidy-Graham Bill, Through Concordian Economics 101

Date: Friday, September 22, 2017 10:58 PM EDT

The central point we have seen is that, since there is much inequality in the distribution of the tax burden as well as the distribution of income, some will gain more than others. But, on the whole, for most taxpayers who stand either to lose their jobs, or to receive less income, puff: All financial gains from potential taxpayers’ reductions disappear; they are balanced by all financial losses that appear from reductions in employment income and even profits.

This is the magic of true, comprehensive accounting.

Only the pain of untreated patients remains.

Only the patients who would not be treated are the ones who would suffer a real loss.

But wait. The multiplier suggests that losses—and gains—are never equal to initial input. If the overall production process is affected, widespread losses might affect even the richest taxpayers.

And then, a random thought: No one really knows how manias and panics spread. Might the next financial crush be sparked by the sudden extraction of billions from circulation that are planned to be granted to as taxpayers deductions?

 

 

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Bill Myers 4 years ago Member's comment

Interesting, thanks.