The Laffer curve shows as tax rates rise, tax revenue:

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The Laffer curve demonstrates that tax revenue initially rises as tax rates increase. However, there comes a point where further increases in tax rates lead to diminishing returns, eventually causing tax revenue to decline. This point is known as the revenue-maximizing rate, and it occurs somewhere between the initial tax rate and a 100% tax rate. Thus, tax revenue follows an inverted U-shaped curve, with an initial increase followed by a decrease.

The Laffer Curve Shows as Tax Rates Rise, Tax Revenue