If you don't know what that is, it's a chart developed by economist Arthur Laffer in the 1970s to illustrate the fact that there comes a point where raising taxes actually causes less revenue to be collected. Exactly what the tipping point is was never rally clear. At least until now.
Connecticut seems to want to continue to conduct a real-life, real-time experiment on Mr. Laffer's theory. Gov. Malloy and Democrats in the General Assemblyi approved the two largest tax increases in state history over the past six years, and -- to their surprise, but not Mr. Laffer's -- income tax revenue has fallen dramatically. So what is there solution? More, and higher, taxes are being discussed. It's crazy.
If you want to better understand the Laffer Curve, and Connecticut's mess as it relates to the curve, you can read about that here. Trust me: it's worth your time. Feel free to share it with any Democratic legislators you happen to meet.