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Trump Horror, Day 90: Ted Nugent and Sarah Palin in the Oval Office

265
Jack Burton in Mactified Forshion4/20/2017 2:52:38 pm PDT

re: #256 Blind Frog Belly White

Laffer Curve, a theoretical construct that posits that when tax rates rise above a certain level, further increases will dampen economic activity so much that tax revenues will fall.

The axes are tax rates on the X, and tax revenues on the Y, and the curve is an inverted U. It’s an article of faith on the Right that we are ALWAYS on the far side of the Ymax, so that if we decrease X, we’ll get more Y.

The thing is, ever single time we decrease X, we decrease Y. Which means we’re on the OTHER side of the U.

And we have been on the wrong side of the U since Reagan at least, if not Kennedy. I’m pretty sure the GOP has convinced itself that it’s actually the Laffer Right Triangle.