The first time I heard his name must have been on the tv news. I was a teenager and this was long before google. I must have asked my mom about it. She didn't really know so she got back to me days later. Then she explained it and I couldn't believe it. I thought to myself "I'll never understand adults." I still don't.

[–] [email protected] 9 points 3 months ago* (last edited 3 months ago) (1 children)

TBF, the Laffer Curve is maybe probably real, it was just set artificially low to justify lower taxes on the wealthy and never empirically tested (just like all orthodox bourgeois economics)

[–] [email protected] 6 points 3 months ago* (last edited 3 months ago)

The funny thing is that it's relatively agreed-upon amongst economists that the point on the Laffer curve that maximizes tax revenue is ~70% for the highest earners. American conservatives bring it up to "prove" why raising taxes doesn't work but even under their own framework it basically says that rich people don't pay enough tax.

https://en.wikipedia.org/wiki/Laffer_curve#Empirical_analysis