Laffer Curve Delivers Straight Right!

 

Still don’t think there’s a Laffer Curve?  Here it is, in action.

Split Decision: Fighter Manny Pacquiao looks to slip Uncle Sam’s tax punch

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The legendary Filipino boxer reportedly wants his next bout — a fifth fight against Juan Manuel Marquez — to be held far away from Sin City and the United States’ 39.6 top federal tax rate, with the offshore Chinese gambling resort of Macau emerging as the “favorite,” Yahoo! Sports reports.

Michael Koncz, Pacquiao’s chief adviser, said Monday that the nearly 40 percent tax rate he would face on most of the purse if he were to fight again in the United States makes a bout this fall a “no go.”

“Manny can go back to Las Vegas and make $25 million, but how much of it will he end up with – $15 million?” Arum said. “If he goes to Macau, perhaps his purse will only be $20 million, but he will get to keep it all, so he will be better off.”

Hmm, let’s get our calculators out!  Let’s see, 40% of zero = …… (ciphering, figuring, calculating…… )  Well, heck, I give up, not enough coffee, yet. 

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10 Responses to Laffer Curve Delivers Straight Right!

  1. gator69 says:

    You mean people will avoid higher taxes? How long has this been going on? :lol:

    Ask Lebron James why he went to Florida, instead of his home state of Ohio.

  2. Latitude says:

    ..you can’t hit a moving target

    which means only the people that can’t move will eventually be the target

  3. miked1947 says:

    That 25 Mil was only a portion of what the businesses around the City of Las Vegas would have gotten if the fight would have been held there. Overall spending on an event such as that would have generated a whole bunch of taxable sales and boarding. The 25 Mill would not have been offered if the folks promoting the fight had not expected to make almost twice that. I lived and worked in that area for 54 years. I worked with the promoters of events such as this over much of my career, even when I started out at a hotel on the strip in 1966.

  4. Gene Nemetz says:

    OT

    James,

    I would suppose you haven’t seen this video. I don’t think many have. Odd that a video with prophets warning America is obscure. I think America, in general, jut doesn’t want to hear from God. But they know every detail of the lives of American Idols.

    6 Prophetic Warnings of Terrorist Acts Worse than 9/11. WE MUST PRAY

  5. tckev says:

    On the subject of taxation I just thought I’d share this (edited slightly) –
    From http://joannenova.com.au/2013/02/lies-are-ok-if-you-believe-says-richardson/#comment-1240520
    ______________________________________________________________
    Another Ian
    February 15, 2013 at 8:42 pm · Reply
    Warcroft
    Like this , from a friend in US?
    “I just received my tax return for 2011 back from the IRS. It puzzles me!!! They are questioning how many dependents I claimed. I guess it was because of my response to the question: “List all dependents?” I replied:
    12 million illegal immigrants;
    3 million crack heads;
    42 million unemployed people on food stamps,
    2 million people in over 243 prisons;
    Half of Mexico; and
    535 persons in the U.S. House and Senate.
    Evidently, this was NOT an acceptable answer. I KEEP ASKING MYSELF, WHO THE HELL DID I MISS? “

  6. David says:

    tckev says:
    February 17, 2013 at 12:35 am
    =========================================
    You cold heartless libertarian. Every damm one of them is a victim and had nothing to do with their status.

    You need a state like calif to teach you. Here we refuse to let the banks evict any victims who fell for their easy loans. As an example check out 92024 on Zillow. Look at the pre- foreclosures. (Note pre as the feds and the state does not want the banks to take possesion of their property.) You will notice in the pre-foreclosures many who bought at a reasonable price pre 2001. A few years later. 04/05/06, they took out a second, often from several hundred thousand dollars to a million dollars. many of these “victims” made payments for less then a year before stopping payments. Many are a hundred thousand or more late on their payments, and still the banks have not actually bought back the homes at auction.

    I have driven by many of these victims homes. Most are being rented out to multiple tenants, while they are collecting rent, while they are paying nothing on the first or second, while they did who knows what with their hundreds of thousands of dollars. But the state of california is protecting these “victims” Where is your compassion?

    • tckev says:

      And this has to do with the Laffer Curve?
      This has to do with being charged over the odds in tax?
      I put it to you that California’s administration has, because of its epically stupid policies, made victims of many people.
      Next time you vote in California think on – how many more “victims” do you need?

  7. cdquarles says:

    If you, government planners, are worried that folk will move, either themselves or their money, to escape your taxes; then it should be clear that the taxes you are planning are too high, either by itself, or in sum with others. Then to top it off, if you plan to follow them and harass them wherever they go, then it should be doubly obvious that your plans are too punitive.

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