“Economic ignorance. Lowering marginal rates INCREASES revenue. That happened in 1962, 1984, 2002 and 2017.”
The art of plucking taxpayers to get the maximum amount of tax is complex.
Our federal debt of $23 trillion is evidence that post-Kennedy tax cuts may not have been justified.
The Laffer Curve indicates there is a sweet spot for revenue. Laffer Curves change over time.
The Reagan tax cuts didn’t pay for themselves. They were made possible by the growing retention of married women in the workforce.
Revenue may grow due to other factors too, such as related interest rate cuts made to keep the federal debt from exploding even faster.
They absolutely increased revenue, almost doubled revenue!!!