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submitted 4 months ago by FiftyFiftyOne@50501.chat to c/Mirror@50501.chat

Originally Posted By u/FuturePowerful At 2025-03-27 10:18:54 AM | Source


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[-] RowRowRowYourBot@sh.itjust.works 1 points 4 months ago

We had high tax rates which is entirely unrelated to the prosperity of the 1950s which was based on the USA comprising 50% of the world economy.

We cut the rates in 1983 and took in more revenue overall which indicates that a top marginal rate can be set high enough to encourage tax fraud, tax evasion, and tax avoidance. This is what Laffer suggested at a cocktail party and is now known as “The Laffer Curve”

this post was submitted on 27 Mar 2025
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