tag:blogger.com,1999:blog-1331441403058020963.post1083215288517598832..comments2024-03-28T06:49:24.930-04:00Comments on International Political Economy at the University of North Carolina: Adventures Near the Inflection Point of the Laffer CurveThomas Oatleyhttp://www.blogger.com/profile/14092437150746625670noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1331441403058020963.post-66858398646368422062013-01-24T18:11:59.966-05:002013-01-24T18:11:59.966-05:00Ben, that sounds about right. Thanks!Ben, that sounds about right. Thanks!Kindred Winecoffhttps://www.blogger.com/profile/14330671232391851377noreply@blogger.comtag:blogger.com,1999:blog-1331441403058020963.post-91055516448093345232013-01-24T11:27:32.660-05:002013-01-24T11:27:32.660-05:00I'm not an accountant either, but doesn't ...I'm not an accountant either, but doesn't deducting reduce taxable income rather than tax liability? So, a 40% state rate and 40% federal rate on $100 leads to $40 of state tax and $24 of federal tax, not $40 of state tax and $0 of federal tax. Taxpayers always pay more when either rate increases, regardless of the other rate.Bennoreply@blogger.com