3 ms·
The Laffer curve is an overly simplistic model that supposes government revenue is a function of income and sales tax revenue. This simply isn't true: Japan has
by cstross 4y ago
The Laffer curve is an overly simplistic model that supposes government revenue is a function of income and sales tax revenue. This simply isn't true: Japan has control over its own money supply and can issue bonds. Nor are workers attracted to/barred from an emigration destination solely by tax -- other issues such as relative standard of living come into play.