More on the Laffer Curve

The FDC has talked about the importance of the Laffer Curve and the role tax rates play in tax revenue. Today, Larry Kudlow has posted on the National Review's blog, The Corner, a video explaining the Laffer Curve.

The video is presented by Dan Mitchell of the Cato Institute.

Lessons for Liberals:

1. The Laffer Curve does exist (this is likely new territory for our liberal friends)
2. Tax policy does affect the economy, and there's often be increased revenue with tax rate cuts

Lessons for Conservatives:

1. Many, but not all tax cuts pay for themselves.