[Rodney King]

To close this off, a 70% rate, which is what we had pre Reagan for unearned income, is too high. A 50% rate for earned income is pushing it, if local taxes are on top. And distinguishing between earned and unearned income is nefarious ecnomically. It may not reduce revenues, but it does probably distort. But to invoke supply side when we are talking about top rates of 30% to 45% is just silly. There is no evidence that Laffer's napkin comes into play in that zone at all. And arguing for a break for capital gains over other income is even more dubious, although it would, and to the extent it is play does, benefit moi hugely.

So, in other words, you believe in the Laffer curve. You just disagree over its exact shape. Earlier you said it was a fraud, and poo pooed it as having first been drawn on a napkin. If you went straight to the point, and did not try to impress upon us your snottiness, this forum would use internet bandwidth much more efficiently.

[Torie]

You blew me away. I will try to repent somewhere before someone sometime. In any event, you went for literalism rather than the leitmotif. That really isn't very artistic of you at all.

[Torie]

And it was drawn on a napkin. I could assert that I was a witness, but er, that would be akin to Arafatism. That would be a bridge too far.

[Texasforever]

Any concept with "laffer" in it is doomed to failure and ridicule. Just ask any 9 year old.