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In Reply to: Strawman posted by Curious on January 4, 2013 at 09:37:38:
There is an article by Martin Gardner discussing this. At 0 percent, the government gets 0 taxes. At 100%, nobody will work, the government gets 0 taxes. If there is a smooth curve, there is some maxima between 0 and 100 percent tax rate representing the ideal.
But the point of the article is that the curve may be anything but smooth. There may be many complicated local maxima and minima. And unfortunately, the shape of the curve certainly changes with time. So, while there may always be an ideal tax rate setting, it won't be really knowable.
In other words, the Laffer curve as displayed by politicians is a simplification to the point that it is inaccurate.
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Follow Ups
- the curve is probably complex... - tunenut 01/4/1311:52:05 01/4/13 (0)
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