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No, I didn't think you were bashing him as a person.  Your comments are never impolite.

You may have to help me with my understanding of the Laffer curve, as it seems to be different than yours--I had him in the early '70's as a prof, which is a few years ago now,,,so long ago that I'm not sure if he even taught that as a concept.

But I thought that the concept was that lowering the tax rate would spur stronger economic growth.  And a lower tax rate times the higher GDP numbers would provide a higher absolute tax revenue--higher than the absolute tax revenue number provided by the higher tax rate times the lower (his theory) GDP numbers.  The concept being, which is of course very open to challenge, that tax cuts spur growth which more than offsets the loss due to the lower rate.  If you cut the tax rate, tax revenue as a % of GDP has to be lower, right?  It's just theoretically the absolute tax revenue could be higher.

by wchurchill on Fri Jan 6th, 2006 at 02:04:56 PM EST
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