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I like this kind of Economics..

by Sumit Menon
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    OK, LAFFER CURVE:

    In economics, the Laffer curve is a representation of the relationship between possible rates of taxation and the resulting levels of government revenue. It illustrates the concept of taxable income elasticity—i.e., taxable income will change in response to changes in the rate of taxation.
    YEP! It is called INFLATION FOLKS! And the problem is that costs go up AS WELL, making such observations just IDIOTIC!

    It postulates that no tax revenue will be raised at the extreme tax rates of 0%
    INCORRECT! You can have duties which are a kind of tax that won't affect people domestically. It will ALSO increase DOMESTIC production in a large country, like the US, which will drive the economy UP and prices DOWN!

    and 100% and that there must be at least one rate where tax revenue would be a non-zero maximum.
    As I said, WRONG! Duties could allow a domestic tax of ZERO and HELP the economy!

    The problem TODAY is they lowered duties and increased taxes, so production moved away while citizens must endure higher prices with lower real income.

    Steve
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