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2010-02-17 05:24 pm (UTC)
I remember reading, several years ago, a series of posts on the blog Angry Bear which came to the conclusion that based on the existing historical evidence, the Laffer curve reaches its maximum (that is, tax revenue is maximized) when the top marginal tax rate is between 50-60%. Which is not much less than the top marginal rate around the time that the Laffer curve became a popular argument for reducing taxes, and certainly higher than it is now.
I tend to think that the social benefits of having a higher tax rate than that would outweigh any negative impact on economic growth, but I'd be happy if anyone started making a Laffer curve based argument for raising taxes.
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