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Politics : President Barack Obama
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To: manalagi who wrote (112249)4/6/2012 9:20:19 PM
From: bentway  Read Replies (1) of 149317
 
It's still got it's believers, including me. The concept predates Laffer, and is similar to the "sweet spot" in retail pricing, where revenue is maximized. Laffer used the example of the Kennedy tax cut, when he cut the top rate from 91% to 71%, which increased revenues.

But, the Laffer curve has TWO ends, and at some point, a point I believe we've already passed and have the deficits to prove it, taxes should be RAISED to increase revenues. It's wingnut, tax-hating proponents never mention that side of the concept. They will claim that ALL tax cuts increase revenues, which is obviously not true.
0 taxes raises NO revenue!
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