refer to the laffer curve. a cut in the tax rate from t5 to t4 would multiple choice decrease tax revenues and support the views of supply-side economists. increase tax revenues and support the views of supply-side economists. increase tax revenues and support the views of mainstream economists. decrease tax revenues and support the views of mainstream economists.

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16-12-2022
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refer to the laffer curve. a cut in the tax rate from t5 to t4 would multiple choice decrease tax revenues and support the views of supply-side economists. increase tax revenues and support the views of supply-side economists. increase tax revenues and support the views of mainstream economists. decrease tax revenues and support the views of mainstream economists.

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MonikaNandal MonikaNandal · Answer 1 · 2022-12-20T12:15:53+01:00

The Laffer curve, a cut in the tax rate would increase tax revenues and support the views of supply-side economists.

What is a Laffer curve?

The supply-side economist Arthur Laffer's idea serves as the foundation for the Laffer Curve.

It was developed in 1974 and graphically depicts the connection between tax rates and the total amount of tax income received by governments.

The curve is frequently used to demonstrate the claim that lowering tax rates can boost overall tax collection.

The impact on the economy is longer-lasting and multiplicative. Taxpayers will spend more of their increased income as a result of a tax cut.

Demand growth prompts greater company activity, which in turn boosts output and employment.

Every dollar in tax reductions directly corresponds to one dollar less in government revenue, as well as a dollar less in the stimulative impact of government spending. This mathematical effect is immediate.

Learn more about Laffer curve, here

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