Laffer on Reaganomics

http://www.futureofcapitalism.com/2011/02/laffer-on-reaganomics

"Reaganomics: What We Learned" is the headline over a piece in the Wall Street Journal by Arthur Laffer: "Reagan knew from personal experience in making movies that once he was in the highest tax bracket, he'd stop making movies for the rest of the year. In other words, a lower tax rate could increase revenues. And so it was with his tax cuts. The highest 1% of income earners paid more in taxes as a share of GDP in 1988 at lower tax rates than they had in 1980 at higher tax rates."

by Editor  |  Feb 10, 2011 at 10:10 am Related Topics:  Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list