Quote:
Originally posted by The Larry Davis Experience
You say recently. Have they ever been high enough?
In other words, I've never seen empirical support for the idea that tax cuts on the order of any one of the three Bush tax cuts could result in an increase in government revenues in real terms. But perhaps I haven't been keeping up on my supply-side reading.
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I think there was some thought that when the top marginal rates were, like, 70+% or whatever (if I was alive at this time, I wasn't aware of tax rates), the high rate discouraged people from earning more money. I can kind of buy into this, personally, despite being a bleeding-heart liberal or whatever.
Are there different Laffer curves for each income level? Or does it assume a flat tax? I would think the former, but dunno.
Hey, let's all read Showdown at Gucchi Gulch! It could be the PB book club!!
