Here is a devilishly sharp column by Don Luskin on Charlie Rangel’s tax bill.
Luskin’s conclusion is savory: “Some say that the Laffer Curve is wrong, and that tax cuts don’t result in higher tax revenues. But when America’s most productive workers stop working — even a little bit — in reaction to the incentive effects of the ‘mother of all tax reform plans,’ they’ll see that the Laffer Curve was right after all and that it can cut both ways.”
As I have commented before, the Democrats have a tax fever that could readily turn the US into a 21st century version of pre-Thatcher Great Britain, with brains and capital fleeing elsewhere and the economy grinding down. That’s exactly what their “green” backers want.
