An electoral program on a paper napkin
The Laffer curve fuels the myth that a tax cut can lead to higher tax revenue.
Arthur Laffer was a guest at Vox's congress last September. He is known for a 52-year-old incident where he allegedly explained to advisors of Gerald Ford how tax cuts could increase revenue on a napkin at a dinner at the Two Continents hotel. The napkin, now on display, is a copy of the original which was lost. Laffer's idea was presented in simple terms.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
