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If Obama Wants More Tax Revenue, He Should Lower the Corporate Tax Rate

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Regular readers know that I’m a big advocate of the Laffer Curve, which is the common-sense notion that higher tax rates will cause people to change their behavior in ways that reduce taxable income.

But that doesn’t mean “all tax cuts pay for themselves.” Yes, that happened when Reagan lowered tax rates on the “rich” in the 1980s, but there are also tax cuts that generate little or no revenue feedback.

The key thing to understand is that revenue feedback is driven by the degree to which a tax cut leads to more taxable income. And...