Exactly! The left would raise taxes even if it cost them revenues because they're all about envy and jealousy. They want to beggar anyone who has $1 more than they do. That's all.
This is the same Art Laffer who said that he voted for Bill Clinton twice, voted for Barack Obama at least once, and missed calling the housing bubble.
“The idea that lowering tax rates can lead to higher revenue collections from increased economic activity is not a new one. “
It just doesn’t happen to be an idea that Reagan’s economic team believed, and it moreover it didn’t happen. See Martin Anderson’s long discussion on “the myth of the supply siders” in his memoir ‘Revolution’. Anderson was one of the architects of Reaganomics.
What they did believe is that economic activity would recoup a large percentage of the tax revenue lost due to the tax cuts. And their prediction was accurate, around 60 cents of each dollar cut was recouped through economic growth. The data can be found in Lawrence Lindsey’s ‘The Growth Experiment’.
“But Arthur Laffer, an economist in the Reagan administration”
Art Laffer was not an economist in the Reagan administration. He had his own private practice in the 80s and at best was a member of an outside advisory group that Reagan used.