The most amusing thing about the Laffer curve folk is they mention it, and a breath later will talk about cutting taxes so they can drag the government to a tub and drown it in the bathwater: they don't even pretend to believe that we're at the point on the curve where cutting taxes will increase revenue.
Re:Elon’s Out
by double_nan on Saturday July 09, 2022 @06:21PM
(#32039838)
It’s fascinating. Not only that is fact free, but it’s based on an assumption that the purpose of the government is to collect maximum tax value from the citizens. Is it thought?
Re:Elon’s Out
by PaulDavisThe1st on Saturday July 09, 2022 @07:04PM
(#32040155)
It's not based on this assumption at all. In fact, the Laffer curve is named after an economist who did his best to provide "intellectual heft" to politicians who wanted to reduce taxation as far as possible (and maybe a little further than that), later summarized by one of them as "shrink[ing] the government to the point where we can drown it in the bathtub".
The reality is that nobody knows for sure what the curve of revenue vs. tax rate looks like other than at those two end points, which makes the entire concept completely useless.