Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Let me be clear: I'm not bashing Laffer, as a person.  I don't know him.

I was writing from the standpoint of "as a percentage of GDP," as DoDo noted.  Note that revenues did not recover, in percentage terms, until '86-'87 (when Reagan pushed through his payroll tax hike).  Revenues increased and decreased with the economy, in raw dollars.  They always will.  But we have to look at revenues per GDP to see whether the tax cuts "paid for themselves".  They clearly did not.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Fri Jan 6th, 2006 at 01:52:06 PM EST
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