Smoot Hawley was stupid but as Milton Friedman pointed out it was not good but at that stage it was marginal, international trade had already collapsed. The Voodoo economics that Bush the elder spoke of did not prevent him from becoming Vice President in the Voodoo regimen. We started calling Voodoo economics Reaganomics and it did break the stagflation that had engulfed the US empire. Reagan argued that lowering taxation would promote growth and he was correct, individual marginal rates were cut from 70% to 28% corporate was cut from48% to 34% and the economy boomed in the 80's.
Does the Laffer curve work in all circumstances? Probably not but in cases with a 70% tax rate probably yes.
Smoot Hawley was stupid but as Milton Friedman pointed out it...
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Last
6.5¢ |
Change
0.003(4.84%) |
Mkt cap ! $107.8M | |||
| Open | High | Low | Value | Volume |
| 6.2¢ | 6.8¢ | 6.2¢ | $1.083M | 16.64M |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 236923 | 6.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 6.6¢ | 824617 | 9 |
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| Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
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Last
6.5¢ |
Change
0.003 ( 5.86 %) |
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| Open | High | Low | Volume | ||
| 6.3¢ | 6.8¢ | 6.3¢ | 8734002 | ||
| Last updated 15.59pm 10/05/2024 ? | |||||
| LKE (ASX) Chart |