Saturday, July 14, 2007
WSJ Editorial Pages at it again
The attempt to find a Laffer curve in government taxation rates becomes a textbook example of how to lie with graphs. The quite good reporters at the Journal provide the readership to support these dottering old cranks who escape from the attic to post their scribbles.
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However, since we are not actually shown the alternate graph that is proposed, could it be that the very same criticism can be leveled against the alternative?
Greg did not follow the link to a more valid graph that shows as taxes go up revenue goes up. The WSJ editorial page graph shows if you raise business taxes less than 4% from the US current rate you will get zero revenue, a ludicrous and unhistorical assertion.
http://economistsview.typepad.com/economistsview/2007/07/yet-again-tax-c.html
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