OC: Overhyped curve.
It's real, but we're nowhere near the part of the curve where one can increase government revenues by cutting taxes. Not even the Reagan-era cuts did that. Arguably, the Kennedy-era cuts may have done that, but at this point it's just technobabble used by so-called conservatives to provide an invalid justification for the self-serving tax cuts they want.
Yes and this gets back to what I said about the push for tax cuts eventually being the modern day version of Smoot-Hawley. An economic policy designed for a previous situation, that has little to no benefit in the modern era and a good number of potential consequences.
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