The Laffer Curve, anyone know what this says?
It says that at this point on the revenue curve
you will get exactly the same amount of revenue as at this point…
Does anyone know what Vice President Bush called this in 1980, anyone?
Something-d-o-o economics, voodoo economics
Ferris Bueller’s Day Off
Do tax cuts pay for themselves?
If revenues rise from tax cuts
why cut spending?
Even by the standards of political boosterism
this is extraordinary
No serious economist believes…tax cuts will pay for themselves
If borrowing to pay for tax cuts help an economy in the short run
do unpaid for tax cuts retard growth in the long run?
Why would some want others to believe tax cuts pay for themselves?
Although the economy grows in response to tax reductions
it is unlikely to grow so much that lost revenue is completely recovered
by the higher level of economic activity
Council of Economic Advisors
Should higher interest rates and inflation
correlated to tax cuts and increased borrowing
eventually reduce tax revenues following short term economic growth?
There is no credible evidence
tax revenues…rise in the face of lower tax rates…
Every $1 trillion tax cut should lead to $830 billion more debt
N Gregory Mankiw
Chairman of President Bush's Council of Economic Advisors, 2003-2005