I don't dispute there being some validity to the Laffer curve at very high tax rate levels, but the missing link is this:
Without Keynesianism, in a neo-liberal economy, there is virtually no incentive to invest simply because there is little or not growth due to a dearth of demand. We are seeing precisely this condition at present - extremely low (dangerously low) tax rates do nothing whatever to encourage investment because neo-liberal inequality leave us with an economy not worth investing in.
It is sheer idiocy for anyone to be talking about disincentives to investment due to taxes in an economy where 1) tax rates are a comically low level of 35%, and 2) huge amounts of capital are sitting idle because of a lack of demand.
I've even toyed with the idea of a Intangible Property Tax for cash/bank accounts over a certain amoun with credits offset by hiring employees or making capital investments. Any thoughts?
