The Laffer Curve, and tax revenues.
02/25/2010
This has been a long proven theory. And it makes the purest of sense. Simply enough put, the more money you have, the more money you can spend. If you own a business, the more you can invest, the more people you can hire, the more profit you can make and keep. Simple.
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At one time I thought the argument between Conservatives and Liberals was as to what side of the Laffer curve to be on. (Left side of the bell,zero taxes zero revenue, right side 100% taxes, zero revenue. But with two points on the graph that indicated the required taxes to run the government.) I always knew the left liked the right side of the bell because more taxes means more control, but I thought the at least wanted the tax revenue. At this point we are completely off the curve and the system will not work.
I ask to what end?
Who is John Gault?