Re: Laffer Curve

[AdmrlLocke]

In a message dated 4/29/05 2:05:25 PM, [EMAIL PROTECTED] writes:

David ([EMAIL PROTECTED]) writes:

> It's funny, during the 1970s people commonly attributed the
> excellent rates of economic grown in Taiwan and Hong Kong to the
> "Confusion work ethic" while completely ignoring the poverty of the
> hundreds of millions of Chinese right next door in Communist China.

I usually heard this as an argument against communism -- as in,
"Chinese prosper everywhere int he world -- Taiwan, Hong Kong,
Singapore, Malaysia, America -- EXCEPT in Communist China.  So it's
obvious that the problem of poverty in China is with Communism, not
with anything inherent in the Chinese people."

Of course, there may be some selection bias involved in emigration,
but it's still a good point.


--Robert Book   
  [EMAIL PROTECTED]

Indeed. And thanks also for the material on the luxury yachet (are there non-luxury yachets?) tax from the 1980s.  It's remarkable that a 10% rate nearly eliminated the US industry.  Imagine what would have happened had my failing memory been accurate, and Congress had indeed passed a 100% tax!

David Levenstam