In response to:

Laffer Curve Warning about the Economy and Tax Revenue for President Obama and other Class Warriors

*Cato* Wrote: Nov 29, 2012 4:32 PM
There's an easy solution to the complaint of "government doing too much" -- simply refuse to raise the debt celing. When that happens, government will be forced to do less.
Cari.B Wrote: Nov 29, 2012 8:41 PM
Cato, I agree, but in order to do that We The People need to replace most everyone in Congress. No matter what they say, they are all too weak to resist spending, so they will raise the debt ceiling. They always do. We who are Republicans need to get a whole lot tougher on our own. We have less two years to make a point or clean House.

Being a thoughtful and kind person, I offered some advice last year to Barack Obama. I cited some powerful IRS data from the 1980s to demonstrate that there is not a simplistic linear relationship between tax rates and tax revenue.

In other words, just as a restaurant owner knows that a 20-percent increase in prices doesn’t translate into a 20-percent increase in revenue because of lost sales, politicians should understand that higher tax rates don’t mean an automatic and concomitant increase in tax revenue.

This is the infamous Laffer Curve, and it’s simply the common-sense recognition that you should...