You're wrong. Lowering income taxes actually increases work output not decrease.
Lowering income taxes has a net positive impact on the economy and the quality of life of everyone. The actual impacts as to what would happen are complex but essentially:
Your before tax income would lower but after tax income relative to prices of products/services would increase.
Prices of products/services would go down
People would work more NOT less because they aren't penalized by progressive income taxes AND because to finance 0 income taxes you must abolish social programs. Social programs lead to a reduction in work (just like progressive income taxes). Lastly, it makes businesses more able to afford labor because they can now pay their employees less because the after-tax income of these employees will be higher given that they aren't taxed. Because the business are saving labor income it leads to business growth which puts a demand on labor thus increasing the real wages of labor which increases the total amount that people work since the incentive is now higher.
Lowering income taxes INCREASES work, it doesn't decrease it. This should be intuitive. You're basically saying if we wanted to increase AI use in companies we should tax companies for using AI. Doesn't make ANY sense. The reason many people seem to stop working at a certain income level now is because of how taxes work. For example if you worked a job paying $100k/yr and wanted to work part-time as a Uber driver, you wouldn't. Why wouldn't you? Because the income you earn is now taxed at 50% because of your tax bracket whereas the Indians/Muslims Uber drivers who only do that as their only job earn 100% of their income therefore the pay Uber pays people is based on this 0% income taxes they pay. For them, what they earn is enough to be worth the time, gas and car payments/maintenance but for you, it wouldn't be. Without income tax it would lead to higher after-tax income related to prices of products/services for people earning $100k/yr to work as an uber driver to make more money so you'd get more people doing this.
People right now are discouraged from working more because of social programs and progressive income tax. Eliminate both and you'll increase work not decrease it.
Your thought process is so twisted. It's basically saying the USSR was right and communism leads to more people working except it does the exact opposite. All evidence shows that social programs and progressive taxes (more taxes in general) lead to less work not more. Of course, I am talking about valuable work though. At 100% taxes you can force everyone to dig ditches and then have 100% work but that's useless. Only productive work matters and most work today is unproductive.
The reason they don't lower income taxes is because the government wants full control over how your money is spent.
Only in the perfect world. Because a lot of human beings are greedy. Trickle down economics is bullshit. Why make things more affordable for people when you can just pocket the extra money?
People would work more NOT less because they aren't penalized by progressive income taxes
This is contrary to human nature. People don't work because they "feel valued" or that the "pay is fair" or whatever hippie bullshit, they work because they need the money to meet their needs - present and future - which once met most people don't work anymore (only a small few do).
Somebody making $100k doesn't work Uber not because they aren't taking home as much relative to somebody else, but because they don't need any more money. It's how you imagine them acting because you want to justify a belief that's clearly false, but ask any middle-class/wealthy person why they aren't out driving for tips, zero are going to say "because it's unfair".
It's obvious that with no tax people wouldn't work jobs in all their free time - they'd do hobbies or sit around playing games or with their AI girlfriend.
basically saying the USSR was right and communism leads to more people working ... At 100% taxes
So you didn't actually read what I said. Basically a Laffer Curve is similar to this in that it says there's a ideal tax rate, but that's focused on economic growth whereas the ideal tax rate for worker happiness is probably not exactly this.
Perhaps you're only accustomed to lazy people? Most people I know earning $150k/yr are working on business ventures and side-hustles to make more money. I think your theory is flawed and is based more on arm-chair university theories. The $100k/yr earner working Uber was literally based on a co-worker on mine who was earning that and literally working Uber but he stopped because he found the earnings wasn't wroth it for what he did when factoring in taxes.
A lot of people don't work more because they don't want 50% of what they earn going to the government and because most businesses won't let you so they're forced to work in non-traditional means. There was just a story posted here of a woman working 3 jobs and was a top performer making like $300k/yr. People want to work but only if they're paid appropriately for what they do and they aren't stuck in archaic show-up, swipe-in and swipe-out models of working. Yes, there will be some people who don't work but there will be others who do work and that will cancel out.
Yes, there will be some people who don't work but there will be others who do work and that will cancel out.
If only that were the case. There's way more people content to live in huts and open sewers than those addicted to work and improvement. Look at India for example.
literally working Uber but he stopped because he found the earnings wasn't wroth it for what he did when factoring in taxes.
First of all, so he didn't know he had to pay taxes on his Uber income? Or what the tax rate was? So basically he's a moron. You're basing your views on what a moron said. But good on him landing that $100k parasite job at whatever unfortunate company hired him.
You may be right, he might work Uber on top of his extra $30k from no taxes, but for a different reason: because basic needs and everything else would cost much more than now (this was my original contention, btw, that you're agreeing with).
You're wrong. Lowering income taxes actually increases work output not decrease.
Lowering income taxes has a net positive impact on the economy and the quality of life of everyone. The actual impacts as to what would happen are complex but essentially:
Lowering income taxes INCREASES work, it doesn't decrease it. This should be intuitive. You're basically saying if we wanted to increase AI use in companies we should tax companies for using AI. Doesn't make ANY sense. The reason many people seem to stop working at a certain income level now is because of how taxes work. For example if you worked a job paying $100k/yr and wanted to work part-time as a Uber driver, you wouldn't. Why wouldn't you? Because the income you earn is now taxed at 50% because of your tax bracket whereas the Indians/Muslims Uber drivers who only do that as their only job earn 100% of their income therefore the pay Uber pays people is based on this 0% income taxes they pay. For them, what they earn is enough to be worth the time, gas and car payments/maintenance but for you, it wouldn't be. Without income tax it would lead to higher after-tax income related to prices of products/services for people earning $100k/yr to work as an uber driver to make more money so you'd get more people doing this.
People right now are discouraged from working more because of social programs and progressive income tax. Eliminate both and you'll increase work not decrease it.
Your thought process is so twisted. It's basically saying the USSR was right and communism leads to more people working except it does the exact opposite. All evidence shows that social programs and progressive taxes (more taxes in general) lead to less work not more. Of course, I am talking about valuable work though. At 100% taxes you can force everyone to dig ditches and then have 100% work but that's useless. Only productive work matters and most work today is unproductive.
The reason they don't lower income taxes is because the government wants full control over how your money is spent.
Only in the perfect world. Because a lot of human beings are greedy. Trickle down economics is bullshit. Why make things more affordable for people when you can just pocket the extra money?
Anyone using this term can be safely ignored.
The only thing that trickles down in this world is piss and diarrhea. And unpaid bills.
My diarrhea sprays actually, I'll thank you to get it right.
This is contrary to human nature. People don't work because they "feel valued" or that the "pay is fair" or whatever hippie bullshit, they work because they need the money to meet their needs - present and future - which once met most people don't work anymore (only a small few do).
Somebody making $100k doesn't work Uber not because they aren't taking home as much relative to somebody else, but because they don't need any more money. It's how you imagine them acting because you want to justify a belief that's clearly false, but ask any middle-class/wealthy person why they aren't out driving for tips, zero are going to say "because it's unfair".
It's obvious that with no tax people wouldn't work jobs in all their free time - they'd do hobbies or sit around playing games or with their AI girlfriend.
So you didn't actually read what I said. Basically a Laffer Curve is similar to this in that it says there's a ideal tax rate, but that's focused on economic growth whereas the ideal tax rate for worker happiness is probably not exactly this.
Perhaps you're only accustomed to lazy people? Most people I know earning $150k/yr are working on business ventures and side-hustles to make more money. I think your theory is flawed and is based more on arm-chair university theories. The $100k/yr earner working Uber was literally based on a co-worker on mine who was earning that and literally working Uber but he stopped because he found the earnings wasn't wroth it for what he did when factoring in taxes.
A lot of people don't work more because they don't want 50% of what they earn going to the government and because most businesses won't let you so they're forced to work in non-traditional means. There was just a story posted here of a woman working 3 jobs and was a top performer making like $300k/yr. People want to work but only if they're paid appropriately for what they do and they aren't stuck in archaic show-up, swipe-in and swipe-out models of working. Yes, there will be some people who don't work but there will be others who do work and that will cancel out.
If only that were the case. There's way more people content to live in huts and open sewers than those addicted to work and improvement. Look at India for example.
First of all, so he didn't know he had to pay taxes on his Uber income? Or what the tax rate was? So basically he's a moron. You're basing your views on what a moron said. But good on him landing that $100k parasite job at whatever unfortunate company hired him.
You may be right, he might work Uber on top of his extra $30k from no taxes, but for a different reason: because basic needs and everything else would cost much more than now (this was my original contention, btw, that you're agreeing with).