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…
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 2 days 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 2 days ago
Cool to know about, thanks!
MothmanDelorian@lemmy.world 2 days ago
Sadly we should cit spending along side tax cuts. Had we done that things would be better
Lauchs@lemmy.world 2 days ago
Honestly, I’m just not sure deficit spending outside of wars/economic emergencies was a great strategy and instead, a time bomb Reaganomics left everyone else to deal with. I think that’s the ridiculously outsized part of spending that would’ve been the best to cut. If I remember correctly, servicing the debt is now on par with American military spending…