The laughable Laffer curve
Can you actually cite any widespread, quantitative evidence for the Laffer curve's validity? Or is it just what it started out as, a sketch on a cocktail napkin?
The wealthy did quite well in the US when their marginal federal income tax rate was 90%. One can argue whether that limited economic activity, but the government was spending that money, not hoarding it up in Fort Knox. Saying taxes reduce the money available for economic activity is hogwash at least in the US, where nearly all of it is spent on procurement with (ta da) the private sector, rather than a a large (for the size of the population, or even historically within the US) bureaucracy.... and bureaucrats buy cars and washing machines, too, for that matter.
Biting the hand that feeds IT
