Jordan Ellenberg — Math vs. Reaganomics: Why GOP’s anti-tax hysteria falls flat

There’s nothing wrong with the Laffer curve—only with the uses people put it to. Wanniski and the politicians who followed his panpipe fell prey to the oldest false syllogism in the book:

It could be the case that lowering taxes will increase government revenue;

I want it to be the case that lowering taxes will increase government revenue;

Therefore, it is the case that lowering taxes will increase government revenue.

Salon
Math vs. Reaganomics: Why GOP’s anti-tax hysteria falls flat
Jordan Ellenberg | Vilas Distinguished Achievement Professor of Mathematics, University of Wisconsin