The Laffer Curve is a very straightforward concept.
It graphically illustrates why politicians are wrong if they think you can double tax revenue by doubling tax rates (or that revenues will drop by 50 percent
if tax rates are cut in half).
Simply stated, you also have to look at what happens to taxable income.
In cases where taxpayers have a lot of control over the timing, level, and composition of their income, changes in tax rates may cause big changes in taxable income (or “tax base” in the jargon of economists).
None of this should be controversial. Even Paul Krugman agrees that the Laffer Curve exists.
Today, we are going to see that the pro-tax International Monetary Fund also admits there is a Laffer Curve.
Indeed, a new study authored by David Amaglobeli, Valerio Crispolti, and Xuguang Simon Sheng openly states that politicians should be…
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Utopia, you are standing in it! 
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