I recommend everyone look at total tax receipts as percent of GDP since WWII[1] and note how they never go above 20% no matter what the marginal rates are. I le

I recommend everyone look at total tax receipts as percent of GDP since WWII[1] and note how they never go above 20% no matter what the marginal rates are. I leave it to the intrepid reader to combine this observation with the intermediate value theorem and deduce the existence of a Laffer curve. [1]: https://fred.stlouisfed.org/series/FYFRGDA188S https://fred.stlouisfed.org/series/FYFRGDA188S