Matt Cowgill on Albrechtsen, tax and the Laffer curve

Matt Cowgill has a go at Albrechtsen, tax and the Laffer curve. I'm not to sure how much I agree with what he says, but it's an interesting read. Cowgill cites N Gregory Mankiw as saying that US President Ronald Reagan's tax cuts didn't raise more revenue as President Reagan expected. Cowgill, and the Tea Party Movement, fails to mention that President Reagan actually ended up having to increase taxes to combat the rising deficit as tax revenue declined. Of course, this does sort of prove the point Mr Cowgill is trying to make.