The Laffer Curve Bites Ireland in the Butt

“All over the world, governments impose draconian taxes on tobacco, and then they wind up surprised that projected revenues don’t materialize. We’ve seen this in Bulgaria and Romania, and in Washington, DC, and Michigan.  Even the Government Accountability Office has found big Laffer Curve effects from tobacco taxation.  And now we’re seeing the same result in Ireland. I have to laugh at the part of the article that says, ‘receipts are falling dramatically short of targets, even though taxes have increased.’  This is what’s called the Fox Butterfield effect, when a leftist expresses puzzlement about something that’s actually common sense.”

http://danieljmitchell.wordpress.com/2013/03/19/the-laffer-curve-bites-ireland-in-the-butt/

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