Skull Pilot
Diamond Member
- Nov 17, 2007
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The Kennedy and Reagan tax cuts increased revenue, because they were within the limits set by the Laffer curve. Once you get beyond those limits, as George W Bush's tax cuts did, you face declining revenues.
Even though Laffer is now recanting on his previous work, his original theory, which clearly stated that taxes above or below a certain level in relation to GDP caused losses in revenue.
Repubicans always seem to forget the "or below" part of the equation.
And democrats/ progressives always forget the "above" part of the equation.
I'm well aware of the "above" part of the equation, we passed that quite a while ago. We're now well into "below".
So tell me how much of gdp shpuld government consume?
We're already at state and federal government spending of nearly 50% of GDP.
Is it your position that it needs to be higher?