The Laffer Curve is very much real. The question is what the real shape of the curve is. Do we have optimal government revenues at 10% average taxation, or 90%?

The Laffer Curve is very much real. The question is what the real shape of the curve is. Do we have optimal government revenues at 10% average taxation, or 90%? The answer probably lies between these numbers. There's also the question, after deciding this, of how much revenue the government needs to accomplish each marginal goal, and how much utility that revenue has compared to leaving the revenue in the hands of taxpayers.