17 percent is the magic number, any more and you stifle growth, and the more you deviate from 17 percent the greater the loss in revenue and the more you drag economic activity.
Sorry, the number is 33%. Done by none other than Obama’s
Christina Romer.
See here: http://ricochet.com/main-feed/The-Laffer-Curve-and-New-Evidence-that-Taxes-Stifle-Economic-Output