Laffer wins again

Shockingly I found a great article in the Globe and Mail (I suppose it is not too shocking since it was an opinion piece and not journalistic news that is totally biased).

Neil Reynolds uses Iceland as the model that Canada needs to follow if it wishes to achieve economic (and therefore social) prosperity. Iceland cut corporate, investment, and income taxes over the past decade and as a result has seen tax revenues sky rocket. It makes me feel warm and fuzzy seeing supply-side economics in action! Arthur Laffer had it right a long time ago with his ascertion that lower taxes increase tax revenues. Unfortunately this profound idea is counter-intuitive and most Canadians are not capable of understanding and trusting this concept.