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Politics : Formerly About Advanced Micro Devices
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To: Taro who wrote (544348)1/16/2010 6:27:03 PM
From: RetiredNow1 Recommendation  Read Replies (1) of 1579464
 
The Dems often try to discredit the Laffer curve, agreed. I think the Laffer curve is a simplification of a complex process, but it is a great general theory, or heuristic to use when thinking about tax policy.

Oh and btw, I think you might be off a little on where Reagan was. We know that Reagan's tax cuts unleashed a long term boom in corporate profits and tax revenues, despite his massive government defense spending that increased the debt. So by definition, Reagan must have been to the right of the Laffer curve optimal, which means that tax cuts during Reagan's time brought in more tax revenues. Unfortunately for Bush Jr, tax cuts during the 2000's created deficits, because he was to the left of the curve.

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