Guest Post: Have Tax Revenues Topped Out?

Guest Post: Have Tax Revenues Topped Out?

from zero hedge by Tyler Durden

Submitted by Charles Hugh Smith from Of Two Minds
Have Tax Revenues Topped Out?
Efforts to collect more taxes fail because people adjust their behavior accordingly.
Amidst all the "fiscal cliff" talk of raising tax rates, few dare to ask: have tax revenues topped out?
How could tax revenues decline as rates go up? Easy: people modify their behavior in response to whatever incentives and disincentives are present.http://www.zerohedge.com/news/2012-12-04/guest-post-have-tax-revenues-topped-out