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The Laffer Curve Wreaks Havoc in the United Kingdom

Anthony444 Wrote: Jul 02, 2012 2:40 PM
Addicts live in total denial. Eventhough the know intellectually that they are going down the toilet literally, they successfully convince themself that everything is OK, until it actually blows up or they OD. That is the nature of the beast. That is why taking away the addict's candy is the only way to get them clean and sober. For government, that means starve the crap out of them!

Back in 2010, I excoriated the new Prime Minister of the United Kingdom, noting that David Cameron was increasing tax rates and expanding the burden of government spending (including an increase in the capital gains tax!).

I also criticized Cameron for leaving in place the 50 percent income tax rate imposed by his feckless predecessor, and was not surprised when experts began to warn that this class-warfare tax hike might actually result in less revenue because the reduction in taxable income could be more significant than the increase in the tax rate.

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