this post was submitted on 21 May 2024
49 points (100.0% liked)
chapotraphouse
13473 readers
1 users here now
Banned? DM Wmill to appeal.
No anti-nautilism posts. See: Eco-fascism Primer
Vaush posts go in the_dunk_tank
Dunk posts in general go in the_dunk_tank, not here
Don't post low-hanging fruit here after it gets removed from the_dunk_tank
founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Art Laffer crying shidding and farding rn
The first time I heard his name must have been on the tv news. I was a teenager and this was long before google. I must have asked my mom about it. She didn't really know so she got back to me days later. Then she explained it and I couldn't believe it. I thought to myself "I'll never understand adults." I still don't.
TBF, the Laffer Curve is maybe probably real, it was just set artificially low to justify lower taxes on the wealthy and never empirically tested (just like all orthodox bourgeois economics)
The funny thing is that it's relatively agreed-upon amongst economists that the point on the Laffer curve that maximizes tax revenue is ~70% for the highest earners. American conservatives bring it up to "prove" why raising taxes doesn't work but even under their own framework it basically says that rich people don't pay enough tax.
https://en.wikipedia.org/wiki/Laffer_curve#Empirical_analysis