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Comment: “The wrong side of the Laffer Curve.” If you don’t know what that means, you should. That’s how we’ve been putting it here for a long time.

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Andrew Szakmary
The Laffer curve could conceivably apply to income taxes (albeit evidence that this has happened anywhere in the U.S. is not compelling). But I don’t think it could possibly apply to property taxes, even theoretically. The reason is that the property cannot readily be moved out of state. So if the homeowner leaves, he sells the house to someone else who must continue to pay the tax. The market value of the home may fall to reflect the high tax burden, so the incidence of the tax falls on the leaving homeowner who, for decades, voted for politicians that promised him artificially low taxes while underfunding pensions.… Read more »