Similarly, a libertarian of my acquaintance recently found himself cornered at an event by a fellow complaining that government spending was far too high and needed to be cut, a proposition for which he offered in support . . . the work of Art Laffer.
"But didn't Art Laffer say that cutting tax rates would raise the amount of revenue that the government collects?"
"Well, sure," said the Lafferite.
"But then wouldn't government spending go up?"
The Lafferite, never having actually connected these two things in his head, fell mute.
Friday, October 21, 2011
Posted by David at 11:16 AM
From Megan McArdle: