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View Diary: GOP is taking 'the matter with Kansas' national again (114 comments)

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  •  Laffer Curve is a joke (5+ / 0-)

    The "Laffer Curve" was the tax rate/labor hours relationship Latter allegedly drew out on a cocktail napkin that "proved" if you reduce taxes people will work more so that the total revenue generated will go up. Problem is, when you factor in the real nature of work rules in this country - 8 hour days and overtime - the relationship falls apart. People don't choose the number of hours they will work, so Laffer's analysis doesn't work. Supply side economics really are "voodoo" in nature. Oh and Saint Ronnie created the 80s boom through reduced tax rates & increased gov't spending - a classic Keynesian system.

    A government that denies gay men the right to bridal registry is a facist state - Margaret Cho

    by CPT Doom on Tue Feb 05, 2013 at 09:04:40 PM PST

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