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.
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