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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (16436)	4/27/2017 6:06:41 PM
From: combjelly	Read Replies (2) \| Respond to of 365214

No it isn't, Tim. It is both very true and very relevant. Bentway and others have argued that raising taxes will have little or no impact on revenues. Especially on the wealthy. As for the general subject of the Laffer curve, its a very important point Not really. The idea that a 100% tax rate would yield little or no revenue is pretty obvious. Likewise, a tax rate of zero. Laffer was far from the first to mention that. What he did was draw a meaningless graph that the Reagan administration used to ram through its tax cuts. Ones that they wound up reversing to an extent because it didn't actually result in increased revenues. Even then, they still more than doubled the debt over 8 years. So the numbers are important. The concept wasn't new. Laffer, though is still around. He was an advisor to Brownback when he rammed through his tax cuts. Which resulted in years of declining revenues and an economy in the doldrums.