A little reflection on human nature, and the expected response of people to incremental increases or decreases in the tax rate, suggests the Conservative interpretation of the Laffer Curve is thoroughly wrong, and that peak revenue will come when tax rates are on the high side of 50%, possibly very high. This is NOT justification for hiking tax rates, just a strong counterargument to the conservative/rightwing/GOP li(n)e that decreasing tax rates from their already low values (particularly for corporations and upper tax brackets, thanks to numerous loopholes) could paradoxically increase revenue. Common sense says otherwise, and for more complex reasons, common sense is probably right.
One implication of the Laffer curve is that increasing tax rates beyond a certain point is counter-productive for raising further tax revenue. Particularly in the United States, conservatives have used the Laffer curve to argue that lower taxes may increase tax revenue. However, the hypothetical maximum revenue point of the Laffer curve for any given market cannot be observed directly and can only be estimated—such estimates are often controversial. According to
The New Palgrave Dictionary of Economics, estimates of revenue-maximizing income tax rates have varied widely, with a mid-range of around 70%.[4] The shape of the Laffer curve may also differ between different global economies.[5]
https://en.wikipedia.org/wiki/Laffer_curve
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