Blake Couch
A
thread 1/3
There’s nothing wrong with the Laffer Curve.

Old timers like me and those who know the history will remember that it was used by the GOP to justify cutting taxes even while they argued against deficit spending. If we slash income tax rates, revenue will actually increase, they claimed.
10:13 PM - Apr 21, 2024
Avatar
0
7
1
Blake Couch
A
thread 2/3
And they’re still saying that. Investment and productivity will increase, thereby increasing taxable income. But even if you take the Curve at face value, it only predicts that effect when tax rates are near confiscatory levels. And we’ve never had income tax rates that high in this country.
10:13 PM - Apr 21, 2024
0
1
Blake Couch
A
thread 3/3
The GOP in the 70s and 80s, when they were touting the Laffer Curve, were effectively ignoring the left half of it. So when they cut taxes under Reagan, revenue did NOT increase. Likewise under W and TFG. That’s because we were and are on the left half of the Curve, where tax cuts reduce revenue.
10:13 PM - Apr 21, 2024
0
1
Dinah Shore
A
In response to Blake Couch.
This must be where the Iowa Governor got the idea. She wants zero state taxes and, of course, that means cutting social programs and public school funding. What a dipshit.
10:29 PM - Apr 21, 2024
1
1
Blake Couch
A
In response to Dinah Shore.
You’d have to be pretty dim not to recognize that zero state taxes means zero state revenue, and therefore zero state programs - roads, schools, parks, you name it. But clearly there’s no shortage of dim bulbs in the GOP.
10:34 PM - Apr 21, 2024
1
1

 

{{ notificationModalContent }} {{ promptModalMessage }}