The Laffer curve is a laughably poor model to inform tax policy:
- There are many taxes, not a single tax rate
- It completely ignores the idea of progressive taxation: rich individuals and giant megacorps can afford to pay higher tax rates without the same issues that would occur by applying those tax rates on lower and middle classes and small business.
- It cannot be empirically validated without cherry picking data because it ignores many crucial factors.
It's basically just propaganda paid for and promoted by the rich to convince the proles to let them keep more money.
- There are many taxes, not a single tax rate
- It completely ignores the idea of progressive taxation: rich individuals and giant megacorps can afford to pay higher tax rates without the same issues that would occur by applying those tax rates on lower and middle classes and small business.
- It cannot be empirically validated without cherry picking data because it ignores many crucial factors.
It's basically just propaganda paid for and promoted by the rich to convince the proles to let them keep more money.