Quote:
Originally Posted by Flamenspiel
The Laffer curve is fundamentally flawed, still that in itself, does not prove that prohibitive tax rates are good for the economy. I think he was correct in saying that a 100% tax yields 0 revenue. It was actually tried by Stalin in the Ukraine in 1932 and eventually resulted in millions of deaths and no revenue.
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Hopefully this will put an end to the chorus of voices these days calling for a 100% tax rate...
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