Do High Taxes Raise More Money?
Posted: September 10, 2012 in 2012, agenda, Art Carden, Art Laffer, audit the Fed, austrian, banking, banking standard, bankrupting america, Barack Obama, budget, capitalism, cato, Cloward Pivens, Donald J. Boudreaux, economic, economic liberty, economics, F. A. Hayek, IRS, John Keynes, Laffer Curve, Ludwig von Mises, Milton Friedman, Mitt Romney, Murray Rothbard
Prager University: Do High Taxes Raise More Money? – YouTube.
Possibly the best short explanation of the Laffer Curve I’ve seen. Of course there is more to be discussed because this example focuses on the morally reprehensible “progressive” tax system wherein 47% of filers wither pay no income taxes or receive a cash bonus for filing. However, we’ll save that for another time.
Tim Groseclose, in addition to being a faculty member at Prager University, is a professor of political science and economics at UCLA. His article on this subject is here.
The Laffer Curve and New Evidence that Taxes Stifle Economic Output
Here is the link to download the Romer & Romer paper (in pdf) from the UC Berkeley website:
The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks