In the Democratic primary debates so far, we’ve heard all about how great government healthcare is, and paeans of praise for ever higher taxation. Yet little has been offered about how high tax rates can mess up socialized healthcare.
The reality is that the famed economist Art Laffer was right. No, not in all his pronouncements that tax cuts pay for themselves, but in his basic construction of the Laffer Curve itself, he was surely spot on.
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