7/11/2011: Bob Wolfe and Barry Kast have the best Laffer curve argument ever. I’d use this in class – if I were an economics professor.
You gotta love Oregon
7/11/2011: Bob Wolfe and Barry Kast have the best Laffer curve argument ever. I’d use this in class – if I were an economics professor.
Sorry, but even at $200 the elasticity of demand is way below 1. I’d give Wolfe and Kast extra credit for fooling the state though.
“State officials are considering new fees of $180 a year for patients, $80 for those on food stamps and Medicaid, and $40 for Social Security recipients.”
This is economic silliness. Social Security recipients may be liquidity-constrained (some have other sources of income, e.g., pensions, 401(k)s); food stamp/Medicaid recipients definitely are.
It’s just War on the Poor by any other name.