Economics @ ITT

The comedian still trying to make us laugh…

Posted in economics, macroeconomics, Taxation by ittecon on August 8, 2012

Arthur Laffer, a US economist came to prominence in the 1980s under the umbrella of the Ronald Reagan’s US presidency. Laffer produced the so-called “Laffer Curve” (see next graph) which basically claimed that tax cuts pay for themselves by ensuring the growth in real GDP generates the extra tax revenue loss via the rate cuts and keeps the budget balanced.

via The comedian still trying to make us laugh | Bill Mitchell – billy blog.

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