The best the Laffer argument can do is suggest the existence of a maximum value of tax revenues and a tax rate that yields it. (t=0, revenue=0, t=100, nobody works, revenue > 0 for t in (0,100)). Existence requires continuity of revenue in t on (0,100) and uniqueness requires concavity of revenue. Martin Gardner had some fun with the absence of these properties in a Scientific American column, about 30 years ago.
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Posted by kzhgnj at April 22, 2010 01:59 AMGreetings
You would think that they world have OKd it at the beginning instead of allowing it to go so long without saying a thing and then bringing it back up when it was too late. you dont understand it at all.
Ciao
Great site post.
What do you know about mass?
L8er