Why the Left Hates the Laffer Curve

For those who are familiar with the "Laffer Curve," the name generally brings on an immediate and politically charged opinion related to the inherent implications the curve has historically had on the topic of the government's tax rate policies.  However, the underlying points illustrated by the curve deserve serious and independent consideration.  In fact, to evaluate the Laffer Curve without bias will undoubtedly yield a better understanding of one of the key political issues facing America today. The name "Laffer Curve" originated in 1974 and was given by a writer for the Wall Street Journal in honor of Arthur Laffer, an economist who later served on President Ronald Reagan's Economic Policy Advisory Board.  It was originally used as part of the argument against the tax increases Gerald Ford was contemplating with an aim to reduce the federal deficit.  But the concept was not at all new.  The nonlinear relationship between tax rates and government revenues...(Read Full Article)