Paul Krugman has said:
But we’re nowhere near Laffer country now. In terms of taxes and revenue, up is up, down is down.
And he’s right.
100% right.
Richard Murphy on tax, accounting and political economy
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Another great article from Paul Krugman. The guy is just hitting the bullseye every time out at the moment (and annoying the right-wing in the US intensely by doing so)!