laffer
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Glen Beck uses a chalk board. Bullshit is bullshit.
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very easy to understand explanation, thanks! definitely helping towards my A2 economics revision!
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@cravebabycrave08 ya lol cuz this is so good for Advanced Placement Econ even though this is a basic basic explanation of the laffer curve. Thanks holden!
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may i remind you that deficits can be stopped by cutting spending? Ever take a look at the CBO historical tables? Domestic and Social spending far exceeded Reagan Defense Spending. Under Clinton we CUT domestic spending and the economy didn't contract...
You hate deficits, stop spending money...
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Yes I know. But it's much more pronounced when a nation has hidden its structural deficit underneath a boom as Reagen did in the 80s.
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"trend and overheats leading to a recession." It's the business cycle, but i do agree with ur assumption of the right wingers constant belief. During Recessions, revenues usually fall - this has happened in almost every major recession in American history...
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I'm afraid there is. Look at the late 80s or the results of the Barber Boom.
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there's no such thing as an "overheat" it is the basic business cycle the explains the "overheat". Booms eventually peak and then lead into recessions, when output begins to fall, along with demand...
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The rpoblem with the Laffer curve is that right-wingers always assume that we are to the right of the peak. At the moment we are probably slightly to the left of it.
Further, tax cuts can lead to a rise in growth and a rise in revenue as a result of that growth as well as a result of less tax evasion etc. However that extra growth is often above trend and overheats leading to a recession. when grwoth falls back down, budget deficits then rise again. This happened in the UK in the late 80s.
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I think it worked perfectly as a review - especially for AP Macroeconomics students.
cravebabycrave08 3 years ago 3
oh great! :) thank you
Balkance 1 year ago