Laffer in la-la-land

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The New Statesman includes a brilliant article by Johann Hari called Cooking the Books. What it amounts to is a complete destruction of the Laffer curve principle, so beloved by the Right and invented by, as Hari says :

a group of men who were untrained in economics - and, as it happens, borderline-insane.

As he notes, the universally discredited Dick Cheney was one of those involved. He saw it:

presented in a simple, easily digestible form the messianic power of tax cuts.

There was just one problem. It was, of course, a complete work of fiction. Read the article. It's well worth it.

PS Thanks to TJN for the title.