found online by Raymond
From Jon Perr at PERRspectives:
Long before it mastered the mass production of “fake news,” the Republican Party propagated its Ur-lie that “tax cuts pay for themselves.” Almost from the moment that Arthur Laffer first sketched his now-famous curve on a napkin in 1974, right-wing pundits, politicians, and propagandists have declared as an article of faith the belief that tax cuts incentivize so much economic growth that revenues to Uncle Sam will be at least as high as they would have been without the reduction in rates.
Unfortunately for the American people, four decades of supply-side snake oil have produced only mushrooming national debt and record-high income inequality.
Actually, a few years ago Mike Kimel showed that Laffer actually drew the curve upside down.
http://angrybearblog.com/2011/10/laffer-curve-and-kimel-curve.html