This post is going to be slightly technical, but if you possibly can, please plough through to the end. If you’re reading this blog because you want to know the truth about what the Coalition government and its supporters say about the economy, I think you’ll find it worthwhile. Honest!
If you pay attention to the economic debates and reports that feature fairly frequently in the media, you’ve probably heard of a concept called ‘The Laffer Curve‘ – and if you haven’t yet, you soon will. For supporters of tax-cuts for the wealthy, the Laffer Curve is very useful – their ‘go-to’ argument as a support for the idea that cutting taxes for the rich is actually good for all of us.
The Laffer Curve is a term coined to express an idea by the right-wing US economist Arthur Laffer, who was a member of Ronald Reagan’s ‘Economic…
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