A Primer on Growth, Politics, and Taxation | International Liberty

So if policy makers impose a relatively benign tax hike, such as scaling back the state and local tax deduction, they will collect a considerable amount of revenue. But if they increase top tax rates on personal income or corporate income, a lot of the projected revenue evaporates. And if they exacerbate the tax bias against new investment, the net effect is less revenue.

Source: A Primer on Growth, Politics, and Taxation | International Liberty