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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (287554)5/10/2006 6:20:20 PM
From: TigerPaw  Read Replies (1) of 1571814
 
I think it has some validity

I think it is entirely fiction.
The reason is that it treats taxes as an independant variable in the equation and it is not.

For example it makes a lot of difference if the taxes raised are used in a way that stimulates the economy as opposed to just spent for the benefit of another company, or just a few individuals. The decision on spending that money then has a much greater effect on the future tax than the tax rate itself. The Laffer Curve has a completely erroneous assumption that the revenues just disappear and that the lowered tax rate is the only effect.

TP
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