several economists, including Boarman, have written in favor of increasing taxes to reduce the deficit, another group of economists has challenged the view that this is an effective way of addressing the problem. This group is know as the supply-side economists, and they provided the foundation for the Reagan tax policy, which led to significant reductions in marginal tax rates in the United States during the 1980s. According to the supply-side economists, there is a danger that very high taxes may result in severe disincentives against work efforts and private investment, causing actual GNP and tax revenues to fall. This was the idea behind the "Laffer Curve" promulgated by the prominent supply-sider, Arthu
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