State of California to Propose A Bill To Tax The Ultra Rich One-Time of $1 Billion. At what point do those who cover the vast majority of a State’s tax contemplate leaving that State?
The “Laffer Curve” is real: The Laffer Curve, is a concept showing that at 0% and 100% tax rates, revenue is zero, implying an optimal rate in between maximizes government revenue, but its application is controversial, with critics calling it simplistic or misused to justify tax cuts that may not boost revenue, while proponents see it as a core economic principle. The debate isn’t whether the curve exists (0% and 100% yield zero revenue is obvious), but where the peak revenue-maximizing rate actually lies, with disagreement among economists.
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