In response to ronreganfan's comment:
In response to andiejen's comment:
"The rest of us see the folly in this thought process."
Quite a sweeping generization there, is it not?
By the rest of us , whom do you mean?
Certainly you do not mean what you wrote...i.e., everybody but the poster in question.
So, do you mean the majority of conservative Republicans?
Do you mean a smaller group, like say Tea Party supporters...or even just Tea Party members?
The Laffer curve is absolute common sense. Sorry, but I can't be any clearer than that. It shows that there is a level of taxation where government revenues are maximized. Might be 1%, might be 99%. It doesn't say anything like what 12 Angry men is implying, whihc I take to be that the Laffer curve prescribes lower taxes as a means to maximize revenue. It does not.
So, I guess I mean the "rest of us" as in those that actually have thought this through, Liberal, libertarian, or conservative. The Laffer curve is agnostic as to political thought. It just is.
I majored in Economics at Brown University before I went onto law school for 2 degrees, the 2nd a masters in tax law.
I am telling you this since you are a rather new poster and most of us have shared our respective backgrounds on this board.
Brown is not exactly a no name university. (Of course we here in the North have this Ivy League thing if you are not from the East Coast.) There the professors pretty much laughed the Laffer curve right out the door. It was a little bit ago, and of course I went on to practice law, but to state as you have that the Laffer curve is just common sense means you belong to a particular school of economics...one to which I and a lot of people do not subscribe.
You probably know this already. Economics is a social science...not a hard core science. There is less consensus in this field than in the "regular" scientific fields.
That is as succinct as I can make it. You and I are from different schools of economic thought, as well as political leanings.
That said, the Laffer curve cannot be said to just make sense. It can be said that one school of economic thought believes that the Laffer curve makes sense.
There is a big difference between those two statements, yes?
Btw, I saw your post at the bottom of the WSJ thread. For some reason, software glitch reason, I am not able to post there currently.
I tend to believe what you wrote. As you said, what is the fun in that?
I really do like conservative posters who debate with articulate, thought out posts rather than bumper sticker slogans.
You of course fall in the first category.
I guess it was just a major coincidence. My apologies.
I wish we knew who reported our deleted posts and the reasons why. That might reduce the number of reports...which I believe in...as well as reduce the atmosphere of suspicion that occurs. It has happened to me. Being falsely accused of reporting a post...nevermind several posts.
Clean slate as far as I am concerned, rrfan.