The Laffer Curve Has Been Criticized by Mainstream Economists Because

The Laffer Curve has been criticized by mainstream economists because

A) there is no theoretical possibility of higher tax rates leading to lower tax revenues.
B) higher tax rates do not create negative incentive effects.
C) tax cuts are just spent, not saved as predicted by the theory.
D) savers look only at real interest rates, not nominal interest rates.
E) empirically, tax cuts have not led to higher tax revenues.

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