tag:blogger.com,1999:blog-6616959642391988608.post8249048413388262792..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: The Laffer Curve at 40 yearsScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-6616959642391988608.post-83442374216488021852015-01-03T17:48:30.138-08:002015-01-03T17:48:30.138-08:00In response to Williams:point C is about 33% total...In response to Williams:point C is about 33% total tax revenue,fed,state and local.Based on a urban population size of 600 people.russhttps://www.blogger.com/profile/15190324017847407317noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-52907606475917332832014-12-17T16:35:00.920-08:002014-12-17T16:35:00.920-08:00Love the Laffer Curve---but versions of it were in...Love the Laffer Curve---but versions of it were in my basic econ text, pre-Laffer. Laffer only popularized a basic tax principle. <br />BTW---Who says tax revenues should be maximized? I prefer they be minimized. Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-688270523381865432014-12-17T11:26:46.769-08:002014-12-17T11:26:46.769-08:00Scott: Sounds fascinating. I was lucky enough to ...Scott: Sounds fascinating. I was lucky enough to be invited by a friend to a meeting with Jude just as the Iraq war was about to commence. Jude could talk about nothing else at the time as he was completely opposed to what we were about to do. Right again, Jude!<br /><br />I'm hoping that one day somebody could enlighten all of us as to why Jude was so ostracized by the political class in Grechsterhttps://www.blogger.com/profile/08898953158865778397noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-90795194845776715192014-12-17T10:30:58.332-08:002014-12-17T10:30:58.332-08:00My rememberance of the Laffer Curve was the mockin...My rememberance of the Laffer Curve was the mocking of it by economists even though the logic was irrefutable. But the question of its use is valid: At any given tax rate (be it Federal taxes or taxes on cigarettes) where are we on that curve? The downside or the upside? But even this is knowable by looking at changes in tax rates. <br /><br />A prime example of the Laffer Curve was the JapaneseNormanBhttps://www.blogger.com/profile/05986709079442388236noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-66100517945123048912014-12-17T09:02:45.182-08:002014-12-17T09:02:45.182-08:00Scott,
I also had the pleasure of meeting both Wa...Scott,<br /><br />I also had the pleasure of meeting both Wanniski and Laffer in the 90s. Wanniski was interested in the history of the "Laffer" curve which actually goes back a lot further than the famous (or infamous) napkin sketch. I sent him a speech given by my ancestor, john C. Calhoun, on the floor of the US Senate during a debate about tariffs in the 1830s which was a perfect Anonymoushttps://www.blogger.com/profile/09891733893440614689noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-32781118511627166752014-12-17T08:14:13.633-08:002014-12-17T08:14:13.633-08:00Matthew: one of the best things I did at Western A...Matthew: one of the best things I did at Western Asset was to hire both Jude and Art as consultants in the early 1990s. That gave me 15 years or so of learning and interaction with them. One of the best things Jude did was an annual conference that will always rank as the very best the world has to offer. Art held annual conferences at his home in San Diego that were like graduate level econ Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-10015186616015511632014-12-17T07:24:42.217-08:002014-12-17T07:24:42.217-08:00Scott: I consider The Way the World Works by Jude ...Scott: I consider The Way the World Works by Jude Wanniski to possibly be the greatest book ever written. Wondering if you care to elaborate on how it came to be that Laffer and Wanniski mentored you? MGGrechsterhttps://www.blogger.com/profile/08898953158865778397noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-59404665313130699532014-12-17T06:35:42.015-08:002014-12-17T06:35:42.015-08:00Lack of redistribution did not cause inequality.
...Lack of redistribution did not cause inequality.<br /><br />The IRC is an edifice to the greatest corruption humans have ever devised.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-65616021851311086682014-12-17T06:33:58.502-08:002014-12-17T06:33:58.502-08:00Just a short while ago on September 19 everyone wa...Just a short while ago on September 19 everyone was very happy with the new high in the S&P. Tuesday's close is only down 38 points from there. Less than 2% down.<br /><br />Just giving some perspective.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-79478416923633013472014-12-17T05:23:02.436-08:002014-12-17T05:23:02.436-08:00Interesting that according to H.T. Odum maximum ec...Interesting that according to H.T. Odum maximum ecosystem production occurs when it works at 50% power capacity.Anonymoushttps://www.blogger.com/profile/17654241213438252653noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-17947072228182610232014-12-17T04:18:48.374-08:002014-12-17T04:18:48.374-08:00what makes the tax code 'unfair" are the ...what makes the tax code 'unfair" are the insane amount of deductions, exclusions, credits etc that corps and wealthy can take advantage of by hiring expensive tax attorneys. eliminate virtually all deductions and lower the rate for everyone. that is the way to more "equality"stevehttps://www.blogger.com/profile/07387986994469835875noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-72730855373588279812014-12-17T04:04:11.788-08:002014-12-17T04:04:11.788-08:00No doubt the US tax code is a nightmare - a produc...No doubt the US tax code is a nightmare - a product of 100s of Congressional laws, erroneous theories and competing political influences / contributions.<br /><br />At the extremes the Laffer's Curve seems correct. But what is rate "C" and is "C" the same for individuals as for corporations. Williamhttps://www.blogger.com/profile/04418491109912775561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-68111412690576602542014-12-17T02:56:58.192-08:002014-12-17T02:56:58.192-08:00I've always found the inequality debate (inher...I've always found the inequality debate (inherently related to Laffer's paradigm vs. Pikkety's) flawed in the way it is usually presented.<br /><br />IMHO, the most important issue is making the pie larger enough to get everybody better off, even with rising inequality in terms of wealth's ownership (as long as wealth's creators and recipients are the same people).<br /><br />Vespasianushttps://www.blogger.com/profile/08430697851208423321noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-76956437692181160242014-12-16T20:57:21.248-08:002014-12-16T20:57:21.248-08:00This comment has been removed by the author.Williamhttps://www.blogger.com/profile/04418491109912775561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-28865240940775641492014-12-16T20:07:23.308-08:002014-12-16T20:07:23.308-08:00" If you tax rich people and give the money t..." If you tax rich people and give the money to poor people, you are going to get lots and lots of poor people and no rich people."<br /><br />Theoretically this seems correct however in practice the entire system is corruptible and destructible: people who become too rich can become too dangerous for a democracy. It is the rich man's incentive to give money to the poor or the poor Royhttps://www.blogger.com/profile/09325498485905547125noreply@blogger.com