@daveweigel tweets:
Belatedly noticed this line from Trump’s ceremony for Art Laffer’s Medal of Freedom.
Trump graduated from Wharton in 1968. The concept behind the curve has been around for a while, but Laffer didn’t sketch it out until 1974.
-RW
Sunday, June 23, 2019
Trump Claims to Have Studied the Laffer Curve Years Before Laffer Actually Sketched the Curve
@daveweigel tweets:
Belatedly noticed this line from Trump’s ceremony for Art Laffer’s Medal of Freedom.
Trump graduated from Wharton in 1968. The concept behind the curve has been around for a while, but Laffer didn’t sketch it out until 1974.
-RW
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Is there really much about the Laffer curve to study? I mean, I get the whole increased tax rate can lead to decreased taxes, but as far as I know there is no theoretical or empirical model for such a curve, just a basic idea that the relationship can exist. This is why Rothbard criticized it, because he said there is no way to tell what shape this curve is (aside from the fact that he said the government shouldn't be trying to maximize tax receipts).
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