From Prager University, a neat little explanation of why cutting tax rates doesn’t always mean reducing government revenue.
So, if there’s a point at which raising tax rates leads to less government revenue, why do advocates of big government always want higher and higher taxes?
It’s not because they don’t understand the Laffer Curve; they almost certainly do. It’s because advocates of big government don’t just want big government. They want control. And when you’re only charging 33% tax rates, that means there’s 66% of the money out there that they don’t control. And we can’t have that.
Would they really rather drive the economy into the ground than give up control? Read any 50 pages of the Obamacare law at random and get back to me on that. I’ll be over here, alternately laughing maniacally and sobbing.