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Can McCain starve the supply-side beast?
What's it going to be: Tax cuts to raise revenue, or lower revenue to force spending cuts?
Andrew Leonard [2008-03-28]

  • No support for Laffer curve...huh?!?!

    Wow, to add to Zaleriana's post, Mr. Leonard's comment about no econmist support is terribly bogus, indicative of poor scholarship by him, and demonstrates an abysmal understanding of the Laffer curve. The Laffer curve is really a mathematical assertion that there is an IDEAL tax rate. Easier to express with a diagram, it demonstrates that at a 0% tax rate, the goverment would take in no revenue. And at the other end of the tax spectrum, if the government taxed at a 100% rate, it would obtain NO revenue because no rational person would work if ALL their earnings were given to the government.

    So somewhere between 0% and 100%, you have an ideal tax rate.

    -- walsdtib
    [Read walsdtib's other letters]
    Friday, March 28, 2008 01:44 PM
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