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  • Bernanke Speaks, Stocks Fall [View article]
    Bernanke: "Crucially, whatever size of government is chosen, tax rates must ultimately be set at a level sufficient enough to achieve an appropriate balance of spending and revenues in the long run …"

    It's crucial to distinguish between tax rates and tax revenue.

    Starbucks doesn't turn their company around by "raising revenue" in the form of $10-per-cup coffee. Neither does the U.S. Government maximize tax revenue by raising rates at the already confiscatory levels.
    Jun 04 10:05 am |Rating: +1 -1 |Link to Comment
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