Supply Side Facts and Figures
Tax revenues in 2000: $2,420,026,000,000
Tax revenues in 2004: $2,350,290,000,000
If we assume a 2% average annual inflation rate (it varied between 1 and 3%), the 2000 figure should be bumped to $2,568,151,000,000 in 2004 dollars.
The answer to the Great Laffer Curve debate is at hand!
We only have to compare the two figures to see which is higher! Did revenues actually increase or decrease as a result of the tax cut? Is $2.568 trillion greater to or less than $2.350 trillion?
I can't seem to figure it out. After all, as a farmer and history teacher, my math skills are rather poor*. Perhaps the Maximum Leader can tell us which is higher.
We may have to wait for him to put on his tap-dancing shoes.
* But I can still get a job as a voodoo economist.
Tax revenues in 2004: $2,350,290,000,000
If we assume a 2% average annual inflation rate (it varied between 1 and 3%), the 2000 figure should be bumped to $2,568,151,000,000 in 2004 dollars.
The answer to the Great Laffer Curve debate is at hand!
We only have to compare the two figures to see which is higher! Did revenues actually increase or decrease as a result of the tax cut? Is $2.568 trillion greater to or less than $2.350 trillion?
I can't seem to figure it out. After all, as a farmer and history teacher, my math skills are rather poor*. Perhaps the Maximum Leader can tell us which is higher.
We may have to wait for him to put on his tap-dancing shoes.
* But I can still get a job as a voodoo economist.
posted by Anonymous at 5/18/2005 09:05:00 PM
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