And this is why the 1983 tax cut in the US increased revenue as at the reduced rates more wealthy people paid rather than avoided taxes.
And this is why the 1983 tax cut in the US increased revenue as at the reduced rates more wealthy people paid rather than avoided taxes.
Lauchs@lemmy.world 1 year ago
Oh interesting, I wasn’t aware there were actually examples of the Laffer curve working in reality! I alwats thought it was just a theoretical that conservatives had latched onto…
MothmanDelorian@lemmy.world 1 year ago
It is the only incident of Laffer being proven correct as far as I know. It is the 2nd to last time spending was cut along side taxes.
Lauchs@lemmy.world 1 year ago
Cool to know about, thanks!
MothmanDelorian@lemmy.world 1 year ago
Sadly we should cit spending along side tax cuts. Had we done that things would be better