Monthly Archives: August 2016

When is the last time you hurriedly drew an idea on a napkin, only to have that idea come to be a globally recognized economic concept named after you? This is what happened to economist Arthur Laffer in a 1974 meeting with Dick Cheney and Donald Rumsfeld, who at the time worked in the Ford Administration. He sketched his eponymous curve to illustrate his main premise that the more an activity such as production is taxed, the less of it is generated. Likewise, the less an activity is taxed, the more of it is generated. In other words, the Laffer curve is a representation of the relationship between rates of taxation and the resulting levels of government revenue.

Proponents of the curve point to President Ronald Reagan’s economic policy, which resulted in one of the biggest tax cuts in history. During his time in office, tax revenues received by the government increased from $517 billion in 1980 to $909 billion in 1988. However, tax expert Rick Kelo believes that while the highest point of the Laffer Curve may maximize revenue, it may have a negative impact on economic growth. An implication of the Laffer curve is that increasing tax rates too highly will be counter productive, actually hindering the goal of gaining more tax revenue. Hypothetical Laffer curves for various economies have been estimated and such estimates are controversial.

Those who support the Laffer curve concept claim that it illustrates taxable income elasticity, meaning income will change according to tax rates. It assumes that no tax revenue will be raised at the extreme tax rates of 0% and 100% and that there must be at least one optimal tax rate which maximizes government revenue. The Laffer curve is typically represented as a graph which starts at 0% tax with zero revenue (non-existent), rises to a maximum rate of revenue at an intermediate rate of taxation, then falls again to zero revenue at a 100% tax rate (again, non-existent). But the shape of the curve is uncertain and disputed.

Rick Kelo is a West Point graduate, former agent of the State, and self-proclaimed “Classic Liberal and Rogue Economist”. His area of expertise is taxation. Check out some of his writings at Ceteris Paribus – Economics from the Austrian & Monetarist traditions; political philosophy from the Classic Liberal tradition.

A big problem with studying economic policy and how governmental regulations have affected growth is that there is so much unknown. Firstly, the average person is not well enough educated regarding the economy and current policies. Unfortunately adequate education regarding business affairs and current government involvement is not put in place both at school level and throughout college education. This makes up a woefully uninformed electorate, and ultimately this means an uninformed workforce as well. Almost half of the population does not have a true grasp on the meanings of core economic focuses.

Richard Arthur Kelo is an online commentator who has strived in his publishings to explain more complicated aspects of the economy. He has spend most of his career and education learning the effects of government influences, and sees recent economic downfalls in the United States as indicators of state controlled policies. He believes that these have been historically proven to be negative for production and economic growth. The wording in Rick Kelo – Understanding the Complexities of the Economy Video on Vimeo explains his stance fully.

Taxation is an area of particular interest to Kelo. He is a tax specialist recruiter with over five years of success with TaxScout, one of the most respected recruitment firms in the tax industry across the United States. TaxScout and Kelo have boasted well above average performances nationwide filling searches across tax professions for large corporations in many locations. His industry insight therefore lends well to Kelo’s economic leanings toward classic libertarianism. This is vital to trying to solve another key problem when it comes to studying the effects of economic policy, which is a lack of transparency. Kelo believes that the public deserve to be better educated on the myriad ways that tax affects their decision making and possibly holds them back in their careers.

Crucially, governmental policy has a direct effect on the developing of new businesses on American shores. If economic legislation does not aim to provide a strong base upon which to build a business, or make a profit, then companies will – and already have – look abroad for more favourable options. Rick Kelo on Tumblr, Vimeo, and on his personal blog, offers plenty of advice and resources for those looking to find out more.

Richard Arthur Kelo is a tax specialist recruiter for TaxScout Inc, one of the nation’s top performing tax specialist recruitment firms. TaxScout offers companies unparalleled access to the best tax professionals within the industry, and have always maintained to attract high calibre employees to best suit demanding roles in the market. Over 70% of the candidates that TaxScout have placed within roles are still within that company after 4 years. In comparison to the national average retention rate of 40%, this displays a true commitment to the industry. Rick Kelo is one of their top executives and has filled searches nationwide for leading employers.

Kelo also has a very active online presence as a political commentator. He describes himself as a classic liberal, pacifist, and entrepreneur. Kelo academic background is in finance and with his studies in classic philosophical libertarianism he is able to provide quite a comprehensive view on the current issues of tax and the economy in the United States. Seeking inspiration from centuries old economic philosophies and ideals, he draws inspiration from traditional thinkers and tries also to convey their messages to the online readership. Rick Kelo’s Quote Blog provides a good insight into his key idols, for example:

‘If we can but prevent the government from wasting the labours of the people, under the pretence of taking care of them.’ Thomas Jefferson

‘I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it.’ Benjamin Franklin

‘The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion.’ Ludwig von Mises

Jefferson, Franklin and Ludwig von Mises are all studied upon by Kelo in regards to his interest in economics from the Austrian tradition and political philosophy from the classic liberal tradition. Kelo has consistently maintained that a decrease in government involvement, and therefore a decrease in specifically corporate taxation, allows for an environment that harbors economic growth. This classic philosophic outlook of libertarianism identifies personal freedom at the pinnacle of a better society. This means the championing of free trade and individual choice.

Look up Richard Arthur Kelo on on issuu, where he has shared a range of articles that other academics and economists have contributed along these schools of libertarian thought.

The act of studying history should always aim to better influence the future, as any past mistakes can be examined and learned from. Good knowledge of causal events provides present day analysis of our actions. It is something however that lawmakers and economists often do not hold enough in high regard. There are myriad factors that lead to the rise of fascism and communism for example in the 20th Century. The gravitation of societies toward either extreme essentially came from the same place of instability and fear and it is often the contemporary governmental policies which were the instigators.

Richard Kelo is a commentator and blogger who in his writings has aimed to spread a greater sense of awareness regarding how examples of the past should be used to inform decision making today. He largely espouses a libertarian view, believing that increased economic freedoms will culminate in economic growth for the United States. In Richard Arthur Kelo – Lessons from History, Morals for Today his recognition of inflexibility is highlighted. That is, the inflexibility of businesses and individuals due to the tightening of legislation that surrounds our economic freedoms. Kelo believes that lowering corporation tax will increase civilian liberty and thus avoid avenues which have in the past lead to extremism.

 In extremist regimes there is a much higher level of government influence over free will. Instead, governments should seek to decrease their role in the everyday lives of society. Kelo has a unique insight into these issues, with an academic background in finance and having worked for years as a recruiter specialising in tax professionals. His exposure to many tax professionals and his involvement within corporations across industries, discussing their tax needs and restrictions, has lead to a more personal endeavour to educate others on an area in which he considers himself as having certain expertise in.

Kelo has consistently maintained that a decrease in government involvement, and therefore a decrease in specifically corporate taxation, will allow for a greater sense of trust among people. This classic philosophic outlook of libertarianism identifies personal freedom at the pinnacle of a better society. This means the championing of free trade and individual choice. Look up Richard Arthur Kelo on Pinterest to learn more.

Richard Arthur Kelo is a tax specialist recruiter at TaxScout Inc, who has worked to connect tax professionals and large corporations successfully for over five years. Prior to that, he earned a Bachelor of Science at United States Military Academy at West Point, before going on to an MBA in Finance from University of Illinois at Chicago. Through his work advising tax professionals and tax executives daily on how best to find the right position and right company he provides far more than a match service between candidate and role. As an expert in the industry he offers a unique insight into taxation regulations and the effects of current tax policies on employment and income. Kelo has therefore imparted his advice regarding taxes in the United States throughout various platforms on the internet, in the hope of exposing the public to a better understanding of the more complex aspects of the economy.

Rick Kelo’s Quote Blog gives the reader a quick idea of his myriad influences, and he cites Thomas Jefferson and Benjamin Franklin among his inspirations. Kelo is a classic liberal economist, who sees current taxation regulations as a key cause of the United States’ current economic downsides. He believes that civil liberties and economic freedom are paramount in allowing for economic growth. Lower corporation and lower income tax give citizens greater power to stabilize and grow the economy. One of his key sources is a study by NYU Stern Professor Alexander Ljungqvist – who significantly found that lower rates of corporate tax during a recession lead to sizeable increases in both employment and income.

In the hotly contested debate about the relation between American corporate tax and income, this is a crucial fact during the current economic uncertainties of the United States. If implemented, this could be a highly beneficial tool for the government to stimulate economic growth across the country.

Look up Rick Kelo on Issuu in order to read more academic papers which cover a range of studies such as Professor Alexander Ljungqvist and find out more about classical economic liberalism. Kelo himself regularly submits blog posts and contributes to online discussions across platforms in order to further stimulate conversation and educate others about the effects of taxation.

Richard Arthur Kelo is a tax specialist recruiter at TaxScout Inc, who has had success working with tax professionals for over five years. Through his work advising tax professionals and tax executives daily on how best to find the right position and right company he provides far more than a match service between candidate and role. He is an expert in the tax industry and knows how to connect the best tax professionals with their satisfactory roles. Kelo has therefore imparted his advice regarding taxes in the United States throughout various platforms on the internet, offering a unique view at the current issues surrounding taxation and government.

Some have noticed a shift in recent years of larger corporations and their dealings with the United States. Kelo recognises a ‘growing spate of corporate tax inversions’ wherein large corporations are relocating their legal domicile to lower-tax nations, or tax havens, while retaining their operations in the United States (read more at Ceteris Paribus – Economics from the Austrian & Monetarist traditions; political philosophy from the Classic Liberal tradition). This is a natural consequence of globalization. In Europe, where there is greater free trade movement than in the United States, corporations routinely seek to place their legal offices in more corporation tax friendly locations. Google, Microsoft, eBay, Amazon, and Twitter all have large offices in Dublin, Ireland. This is no coincidence – the Irish government has actively courted multinational companies with their substantial tax benefits that these organisations can take full advantage of. Ireland is especially attractive considering it is English speaking and its citizens enjoy high levels of education.

This is seen as a loss in developed countries with higher tax rates, as companies will eschew developing their legal offices there in order to avoid the high taxation. It is important to note, however, that although Ireland enjoyed a period of fast-growing economic success, it also turned into the fastest collapsing economy during the crisis. This brought a huge blow to employment rates and Ireland were forced to seek a bailout, as they did not have the support of higher corporation tax. For the everyday Irishman, its country’s lower taxation rates for multinationals struck them hard in harsher times.

So there is no magical answer, especially now when all countries have had to suffer setbacks in the wake of the economic recession. Governments need to cooperate together more in order to protect the jobs and wellbeing of their own citizens, and to protect homegrown businesses. Read more from Rick Kelo on MSNBC.