Comment on All while the skeletal, crumbling, dusty bones of an econ major pulls business backwards into hell.

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EightBitBlood@lemmy.world ⁨14⁩ ⁨hours⁩ ago

The only thing funny about the Laffer curve is how little it now matters.

It was used to justify Reagnomics, which then immediately proved we weren’t nearly as high on the Laffer curve as we assumed. Because of this, we have concrete evidence that lowering taxes on the rich doesn’t increase government revenues.

Yet we’re still doing that 50 years later. Despite the only vaguely scientific thing behind it proving it doesn’t work decades ago.

Imagine being in a catholic family, reading the Bible, and always walking away thinking that Judas did the right thing (despite everything else the Bible says). That’s US economic policy for the last 50 years.

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