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" ... I sometimes get a little angry at those who misrepresent certain economic theories. Of course, I only get upset at those who misrepresent the economic theories that I myself support and I'm just delighted when people take the mick out of those I oppose. There's no pretence that I'm an unbiased and neutral observer here, I'm as partisan as the worst of them. Or as human if you prefer. But there are times when it's worth calling out the misrepresentation of one or another theory and today is one of those days. We've got the claim that Art Laffer claims that all tax cuts pay for themselves: this is simply an absurd misreading of the actual point being made. Which is that it is possible to have tax rates high enough that cutting them will indeed pay for themselves. But the other side of the argument is that it's also possible to have tax rates below those excessive levels, where cutting tax rates will not bring in extra revenue over time. It is never, and outside those trying to create strawmen has never been, about insisting that all tax cuts pay for themselves. ... "