The WSJ has come in for a lot of justified ridicule over this graph, which purports to show that the US is "on the wrong side of the Laffer Curve: We could collect more revenues with a lower corporate tax rate."
Kevin Drum notes this delightful aspect of the WSJ's graph:
"Even the Journal's editorial writers, normally a pretty barefaced bunch, were apparently too embarrassed about this economic singularity to follow the right side of their graph to its logical conclusion, but we can: at a rate of about 33% corporate taxes produce no revenue at all. An increase of a mere four percentage points destroys tax revenue entirely! Mirabile dictu!"
Mark Thoma draws the line that the data actually suggests:
Still, I'm not entirely sure that we've exhausted the possibilities of these data points yet. Mark Thoma's approach, while theoretically sound, is also incredibly boring and, well, reality-based. And reality, as we know, is for people too weak to force the facts to conform to their own heroic vision, and the niggling constraints imposed by so-called "reality" be damned. Since, like the editors of the WSJ, I have the strength of will to dictate to the data rather than letting them dictate to me, I propose to draw the graph like this:
As this graph conclusively demonstrates, by simply raising the corporate tax rate by a percentage point or two, we could raise infinite amounts of revenue! As a result, we could do away with all other forms of taxation and still have more than enough money to fund literally any project we wanted to. Best of all, we'd never have to read any more mournful editorials about the coming crisis in health care funding.
But why stop there? Why not a graph like this:
Call it 'statistics with a human face': cold, dead figures presented in such a way that each of us can find ourselves in them, and be truly at one with government statistical documents.
Or what about this:
Honestly: if the WSJ editors are going to throw off the shackles of empiricism, you'd think they'd be a bit more creative about it. Dare to be great, WSJ editors! Do not allow yourselves to be crippled by sklavenmoral! Believe six impossible things before breakfast! Dream a dream so magnificent that it inspires all the data-points that surround it to fall in behind you and march in unison towards the promised land!