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- Socialist
Well, not at the tax rates we're at now. I don't doubt the Laffer Curve's basic premise is right at the 70%+ tax rates. But below 50%, it becomes nothing more than speculation. Furthermore, US effective is low. Obama's own effective tax rate when adding in state tax is around 29%. The idea that we could actually grow revenue by cutting taxes when millionaires pay historically low rates is ignorant of history.
If marginal rates were above 50% I would agree with them...not at this point though.