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What do you think of the 5% tax hike for those earning more than £150k - good or bad?

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soapbox · 24/11/2008 17:29

????

Tech · 24/11/2008 22:08

According to Nobel prize laureate James Tobin, "'Laffer Curve' idea that tax cuts would actually increase revenues turned out to deserve the ridicule with which sober economists had greeted it in 1981."

Tobin, J. (Summer 1992). Voodoo Curse. Harvard International Review, 14, p10, 4p, 1bw.

Some may remember George (H) Bush and his famous voodoo economics quote (or even remember the reference to same in Ferris Bueller's Day Off.)

From Wikipedia, but, you know, he did say it. So idea that lower tax == higher overall tax take is not uncontroversial.

Love, Tech, enjoying the debate from afar.

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