Posted on 01/29/2010 2:56:56 PM PST by Paul46360
Does anyone have the info El-Rushbo was talking about on his show today about the Laffer curve and the 2011 economy downturn that is expected.
Would like to use it in my Econ class.
Google is your friend!!!
"Anyone know what this is? Class? Anyone? Anyone? Anyone seen this before? The Laffer Curve. Anyone know what this says? It says that at this point on the revenue curve, you will get exactly the same amount of revenue as at this point. This is very controversial. Does anyone know what Vice President Bush called this in 1980? Anyone? Something-d-o-o economics. "Voodoo" economics."
Now that just does not help...but it is funny.
Rush was also talking about a editorial that mentioned this but I can’t find it on his site..
FOUND IT..Donald Lambro.
If it wasn’t for Ferris Bueller, hardly anyone would even know about The Laffer Curve, or Smoot-Hawley.
Try in google: economics laffer curve
I can definitely relate to the guy with the drool on his desk.
The Laffer Curve shows the relationship between taxes and tax revenue. It shows that when the gov’t taxes too much, the revenue falls.
1. How much tax revenue would be generated if the tax rate is 0%? They answer "None" of course. Then I ask this:
2. How much tax revenue would be generated if the tax rate is 100%? They are silent. Their face starts to contort. Their eyes cross and smoke starts escaping from their ears. The head is getting ready to explode! Bwahahaha!
I like it and will use it. Still, I suspect the typical liberal will respond, "So that means the ideal corporate tax rate is 50%!"
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