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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (511608)	9/9/2009 1:12:53 PM
From: i-node	Read Replies (3) \| Respond to of 1582224

There's a sweet spot for taxes, just as there is for prices. too high and it's onerous. Too low, and not enough revenue is generated. It's the second part of the formula that you idiot supply-siders can't seem to get a handle on. Of course, that's exactly what the Laffer Curve is about. If the objective is to maximize revenue, it is easy enough to see where that is and what arithmetic is necessary to determine where it is: It is easy to see that higher tax rates don't generate higher revenues (given that we are already operating in the upper half of that parabola, which we are; keep in mind the y-axis is nonlinear). It's the second part of the formula that you idiot supply-siders can't seem to get a handle on. It is "supply-side" economics that made this concept a household name. Prior to "supply side" economics, most people assumed that higher tax rates resulted in higher revenue. Only economists knew better. Obama doesn't know it even today as is evidenced by his plan to raise taxes ON EVERYONE next year.