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Less money = more money - Unbeliever's Land
...The continuing chronicles...
unbeliever64
unbeliever64
Less money = more money
"There’s no evidence whatsoever that the Bush tax cuts actually diminished revenue. They increased revenue, because of the vibrancy of these tax cuts in the economy," said Senate Minority Leader Mitch McConnell (R-KY).

I keep waiting for someone in the media to point out the obvious.

If tax cuts increase revenue so much, why don't we just eliminate taxes altogether?  Infinite revenue!

The sad thing is, we're probably only one election cycle and a handful of national IQ points away from some Republican (probably Sarah Palin) seriously advancing that argument...

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amaebi From: amaebi Date: August 2nd, 2010 10:50 pm (UTC) (Link)
You know the origin of implementation of the Laffer curve in the 1980s, right?
unbeliever64 From: unbeliever64 Date: August 3rd, 2010 06:30 am (UTC) (Link)
I know the basic premise, sure.

But the point is, Sarah Palin and the majority of the Repugs don't.

They're not arguing a rational point. They just want less taxes, PERIOD (and mainly, for the rich). So by THEIR reasoning, my argument holds.
amaebi From: amaebi Date: August 3rd, 2010 01:03 pm (UTC) (Link)

The story of the origin

Arthur Laffer drew a curve on a napkin, showing that when the tax rate is zero tax revenue is zero, then increasing for some space of increases in the tax rate, then decreasing, and finally zero again when the tax rate is 100%. Then it was asserted that the US was on the negatively sloped portion of the relationship.
unbeliever64 From: unbeliever64 Date: August 5th, 2010 12:05 am (UTC) (Link)

Re: The story of the origin

See previous response.
amaebi From: amaebi Date: August 5th, 2010 10:58 am (UTC) (Link)

Re: The story of the origin

...yes master...
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