Should the government raise taxes on the rich?
Remove loopholes for the rich and ensure they are unable to use tax shelters.
I shall tell you nothing but to look up the Laffer Curve. Than you’ll understand.
Laffer Curve suggests that there's a point at which increasing tax rates actually reduces total tax revenue.
This theory was famously used to justify tax cuts during the Reagan administration.
However, where that peak lies on the income scale is a topic of much debate among economists. Some argue that we've yet to reach it and that higher taxes on the rich could indeed produce more revenue. What's your take on where that peak might be?
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