Quote:
Originally Posted by finnbow
Sorry, but yes he did. A smooth parabola such as his describes a specific relationship of one variable to another (the dependent variable (revenue) and the independent variable (tax rate)) and no other variables. And that's exactly why it's completely worthless as an economic model, considering the number of variables that impact the nation's economy, not to mention the illegitimacy of the underlying model (he has/had no data points with which to establish the relationship between tax rates and revenue).
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You are so screwed up here. The Laffer curve that you refer to above isn't the entirety of supply side theory, but rather an illustration of a single aspect of it. You're talking about it like it represents the theory in its entirety. No wonder you're confused....or just being a demigog.
