Portland has tax on high earners that has similarly exceeded projections.
Art Laffer crying shidding and farding rn
The first time I heard his name must have been on the tv news. I was a teenager and this was long before google. I must have asked my mom about it. She didn’t really know so she got back to me days later. Then she explained it and I couldn’t believe it. I thought to myself “I’ll never understand adults.” I still don’t.
TBF, the Laffer Curve is maybe probably real, it was just set artificially low to justify lower taxes on the wealthy and never empirically tested (just like all orthodox bourgeois economics)
The funny thing is that it’s relatively agreed-upon amongst economists that the point on the Laffer curve that maximizes tax revenue is ~70% for the highest earners. American conservatives bring it up to “prove” why raising taxes doesn’t work but even under their own framework it basically says that rich people don’t pay enough tax.
https://en.wikipedia.org/wiki/Laffer_curve#Empirical_analysis
the prospect of a surplus of hundreds of millions of dollars to spend on transportation and education
Is this copium or possible? Are they just gonna funnel it to “job-makers” and Stormtroopers?
You know it’s just all “job-makers” and Stormtrooper money. Even when it’s labelled for education, it’s still being funnelled to those groups.
