The Laffer Curve is a graphical representation of the relationship between tax rates, tax revenue, and taxable income. It is frequently cited by people who want to explain the common-sense notion that punitive tax rates may not generate much additional revenue if people respond in ways that result in less taxable income.
Unfortunately, some people misinterpret the insights of the Laffer Curve.
Trouble is, facts and empirical evidence mean little to statists.
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