[Politics] Hammond's Budget

[beorhthelm]

Blimey, I haven't heard the Laffer Curve mentioned for a long time, Reagan's favourite tool that doubled the deficit, tripled government debt, and had to be undone by the next Republican president Bush snr. The biggest issue with the Curve is the assumption that the wealthy will become idle if taxed more. Fundamentally, all value in an economy is created by labour - the obligation to work to purchase the necessities in life. There are plenty of other reports to suggest Laffer was wrong by states with a higher income tax rate outperforming those with none.https://itep.org/states-with-high-rate-income-taxes-are-still-outperforming-no-tax-states/

It is easier to find critiques of Arthur Laffer's model than it is support to be honest.

i think the biggest issue with the Laffer curve is people ascribing claims to it that it does not make, then saying how wrong it is.

 

[LlcoolJ]

I think we can take it as read that the Economic legacy of the 2008 crash would have been pinned on the tories if they had been power as much as Labour are getting blamed. Suck it up comrades.

Exactly. But unfortunately some morons still try to make it a political issue. Including politicians. Of course.