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Surprise! Higher Tax Rates Yield Lower Revenue
Big Government | Posted: February 22, 2012 12:11 PM
It almost bores me to point this out. Yet, despite decades of research and thousands of data points, a large swath of America’s political and media class still can’t seem to grasp that incentives matter. In a case of political cognitive dissonance, they continue to insist that simply raising tax rates by X will yield Y increase in revenue for the government. Conversely, they believe lower tax rates will decrease government revenue by an equal amount.
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