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Berk's Blog

LAFFER CURVE STRIKES AGAIN: TAX RECEIPTS UP AS RATES GO DOWN

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PERSONAL TAX RECEIPTS 12% HIGHER IN APRIL

Today’s April Treasury report showed that April tax receipts not only set an all-time record, but were fully 12% higher than last April’s receipts. People and corporations had been postponing income and accelerating deductions for the 22 months leading up to last December’s landmark tax reform, and now they are beginning to realize that income and stop postponing deductions. Tax receipts are once again growing, and there is every reason to expect more of this for the foreseeable future.Chart #1

Source: Calafia Beach Pundit: Laffer Curve strikes again: lower tax rates produced more revenue