Comments on: A short history of higher taxes http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/ Your guide to American economic policy Fri, 12 Mar 2010 02:42:37 -0500 http://wordpress.org/?v=abc hourly 1 By: Ejoback http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/comment-page-1/#comment-13137 Ejoback Tue, 10 Nov 2009 23:21:13 +0000 http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/#comment-13137 But saying that healthcare costs are higher in the US than the rest of world is misleading in the context in which you do. #1 - they are so because we can afford them to be. Over time, the largest percentage increase of discretionary spending has been leisure and vacations - not healthcare. #2 - its not clear that this is bad per se -- healthcare is a local service for the most part and one man's expense is another man's income and #3 - the rest of the world gets a free ride on our innovation. For example, US drug companies sell to many single payer markets based on marginal cost pricing. While drugs are more expensive here, the innovations mostly originate here (the same is true for devices and other aspects of healthcare). The benefits to the US economy of having a robust pharma / device industry are many in terms of taxes and jobs. But most profoundly, in terms of new and innovative therapies that lead to a quality of life that single payer markets deprive their populations of. <div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('13137','Ejoback'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('13137','Ejoback','But saying that healthcare costs are higher in the US than the rest of world is misleading in the context in which you do. #1 - they are so because we can afford them to be. Over time, the largest percentage increase of discretionary spending has been leisure and vacations - not healthcare. #2 - its not clear that this is bad per se -- healthcare is a local service for the most part and one man's expense is another man's income and #3 - the rest of the world gets a free ride on our innovation. For example, US drug companies sell to many single payer markets based on marginal cost pricing. While drugs are more expensive here, the innovations mostly originate here (the same is true for devices and other aspects of healthcare). The benefits to the US economy of having a robust pharma \/ device industry are many in terms of taxes and jobs. But most profoundly, in terms of new and innovative therapies that lead to a quality of life that single payer markets deprive their populations of. '); return false;">Quote</a></div> But saying that healthcare costs are higher in the US than the rest of world is misleading in the context in which you do. #1 – they are so because we can afford them to be. Over time, the largest percentage increase of discretionary spending has been leisure and vacations – not healthcare. #2 – its not clear that this is bad per se — healthcare is a local service for the most part and one man's expense is another man's income and #3 – the rest of the world gets a free ride on our innovation. For example, US drug companies sell to many single payer markets based on marginal cost pricing. While drugs are more expensive here, the innovations mostly originate here (the same is true for devices and other aspects of healthcare). The benefits to the US economy of having a robust pharma / device industry are many in terms of taxes and jobs. But most profoundly, in terms of new and innovative therapies that lead to a quality of life that single payer markets deprive their populations of.
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]]> By: Dr. Krugman telegraphs the Left’s long-term fiscal strategy  |  KeithHennessey.com http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/comment-page-1/#comment-13129 Dr. Krugman telegraphs the Left’s long-term fiscal strategy  |  KeithHennessey.com Tue, 10 Nov 2009 19:20:29 +0000 http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/#comment-13129 [...] A short history of higher taxes [...]<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('13129','Dr. Krugman telegraphs the Left’s long-term fiscal strategy  |  KeithHennessey.com'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('13129','Dr. Krugman telegraphs the Left’s long-term fiscal strategy  |  KeithHennessey.com','[...] A short history of higher taxes [...]'); return false;">Quote</a></div> [...] A short history of higher taxes [...]
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]]> By: mulp http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/comment-page-1/#comment-12473 mulp Sun, 04 Oct 2009 07:10:20 +0000 http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/#comment-12473 Health care costs in the US have risen from 6% to 16% of GDP of the time of the graph, with half the costs split between Federal and local governments. No other nation has health care cost increases these high. If health care costs were no more than 10% of GDP which is higher than nearly every single other nation with universal health care, the cost of government would be 4-5% lower at no cost in health outcomes.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('12473','mulp'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('12473','mulp','Health care costs in the US have risen from 6% to 16% of GDP of the time of the graph, with half the costs split between Federal and local governments. No other nation has health care cost increases these high. If health care costs were no more than 10% of GDP which is higher than nearly every single other nation with universal health care, the cost of government would be 4-5% lower at no cost in health outcomes.'); return false;">Quote</a></div> Health care costs in the US have risen from 6% to 16% of GDP of the time of the graph, with half the costs split between Federal and local governments. No other nation has health care cost increases these high. If health care costs were no more than 10% of GDP which is higher than nearly every single other nation with universal health care, the cost of government would be 4-5% lower at no cost in health outcomes.
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]]> By: Denver Tax Services http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/comment-page-1/#comment-11801 Denver Tax Services Wed, 09 Sep 2009 14:07:27 +0000 http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/#comment-11801 Very good read Keith. And D Lawrence, "understating" is the keyword, I agree with you wholeheartedly. <div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('11801','Denver Tax Services'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('11801','Denver Tax Services','Very good read Keith. And D Lawrence, "understating" is the keyword, I agree with you wholeheartedly. '); return false;">Quote</a></div> Very good read Keith. And D Lawrence, "understating" is the keyword, I agree with you wholeheartedly.
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]]> By: WJ http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/comment-page-1/#comment-254 WJ Tue, 21 Apr 2009 17:08:27 +0000 http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/#comment-254 Does anyone know if the tax number includes the 15+% in social security taxes that I pay?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('254','WJ'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('254','WJ','Does anyone know if the tax number includes the 15+% in social security taxes that I pay?'); return false;">Quote</a></div> Does anyone know if the tax number includes the 15+% in social security taxes that I pay?
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]]> By: Taxes And Tea Bags | But Then What http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/comment-page-1/#comment-253 Taxes And Tea Bags | But Then What Sun, 19 Apr 2009 19:33:57 +0000 http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/#comment-253 [...] Article links: Article 1, Article 2 and Article [...]<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('253','Taxes And Tea Bags | But Then What'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('253','Taxes And Tea Bags | But Then What','[...] Article links: Article 1, Article 2 and Article [...]'); return false;">Quote</a></div> [...] Article links: Article 1, Article 2 and Article [...]
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]]> By: D Lawrence http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/comment-page-1/#comment-252 D Lawrence Fri, 17 Apr 2009 20:51:41 +0000 http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/#comment-252 There is an implicit assumption that the GDP figures are accurate. If, as some allege, the government statistics have developed a bias toward understating inflation, and hence overstating GDP, then your graphs understate the real rate of increase in taxes.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('252','D Lawrence'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('252','D Lawrence','There is an implicit assumption that the GDP figures are accurate. If, as some allege, the government statistics have developed a bias toward understating inflation, and hence overstating GDP, then your graphs understate the real rate of increase in taxes.'); return false;">Quote</a></div> There is an implicit assumption that the GDP figures are accurate. If, as some allege, the government statistics have developed a bias toward understating inflation, and hence overstating GDP, then your graphs understate the real rate of increase in taxes.
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]]> By: cathyf http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/comment-page-1/#comment-251 cathyf Thu, 16 Apr 2009 20:27:38 +0000 http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/#comment-251 Of course the percent of gdp goes up if the numerator goes up, or if the denominator goes down. Or both. *sigh*<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('251','cathyf'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('251','cathyf','Of course the percent of gdp goes up if the numerator goes up, or if the denominator goes down.\n\nOr both. *sigh*'); return false;">Quote</a></div> Of course the percent of gdp goes up if the numerator goes up, or if the denominator goes down.

Or both. *sigh*

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]]> By: Christopher http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/comment-page-1/#comment-250 Christopher Thu, 16 Apr 2009 18:00:12 +0000 http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/#comment-250 Dave: I'd love to see that explored. According to this chart with massive changes in the marginal rates and tax codes we've never seen the % of the GDP number outside the bounds of around 15-25%. To me this means my guess is it stays around the same, even if rates go up. Which makes it difficult to explain how we're going to pay off the spending<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('250','Christopher'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('250','Christopher','Dave: I'd love to see that explored. According to this chart with massive changes in the marginal rates and tax codes we've never seen the % of the GDP number outside the bounds of around 15-25%. To me this means my guess is it stays around the same, even if rates go up. Which makes it difficult to explain how we're going to pay off the spending'); return false;">Quote</a></div> Dave: I'd love to see that explored. According to this chart with massive changes in the marginal rates and tax codes we've never seen the % of the GDP number outside the bounds of around 15-25%. To me this means my guess is it stays around the same, even if rates go up. Which makes it difficult to explain how we're going to pay off the spending
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]]> By: Ninth http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/comment-page-1/#comment-249 Ninth Thu, 16 Apr 2009 16:31:17 +0000 http://keithhennessey.com/2009/04/15/a-short-history-of-higher-taxes/#comment-249 Keith, this is great, but how about a comparison of government expenditures over time and how they're projected? Especially as relates to GDP.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('249','Ninth'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('249','Ninth','Keith,\nthis is great, but how about a comparison of government expenditures over time and how they're projected? Especially as relates to GDP.'); return false;">Quote</a></div> Keith,
this is great, but how about a comparison of government expenditures over time and how they're projected? Especially as relates to GDP.
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