Japan

Laffer curve

supply-side economics

nationality

American

occupation / innovator as

economist

scientist

is, as the fundamental idea of supply-side economics, the insight that government tax revenue are at zero both in the case of a 0% tax rate and at a 100% tax rate. Therefore, tax rate and tax revenue needs to be brought into harmony.

The Laffer curve embodies a tenet of supply-side economics: that government tax revenues are the same (nil) at 100% tax rates as they are at 0% tax rates and that there is a tax rate at which maximal revenue is generated somewhere in between these two values. The supply-siders were influenced strongly by the idea of the Laffer curve, which states that tax rates and tax revenues were distinct and that when tax rates are either too high or too low, less than maximum tax revenues will result. Supply-siders felt that in a high tax rate environment, lowering tax rates will result in either increased revenues or smaller revenue losses than one would expect relying only on static estimates of the previous tax base.

is a theory grounded in the laffer curve, which states that lowering tax rates generates more government because it generates more economic activity, leading to increased opportunities for tax revenues.

The Laffer curve illustrates a central theory of supply-side economics, that lowering tax rates may generate more government revenue than would otherwise be expected at the lower tax rate because moving off of a prohibitively high tax system could generate more economic activity, which would lead to increased opportunities for tax revenues.[10][11] However, the Laffer curve only measures the rate of taxation, not tax incidence, which is a stronger predictor of whether a tax code change is stimulative or dampening.[12] In addition, studies have shown that tax cuts done in the US in the past several decades seldom recoup revenue losses and have minimal impact on GDP growth.

is to religion what a Japanese 'rock garden' is to a garden... it knows no God, no afterlife, no good and no evil, as the rock-garden knows no flowers, herbs or shrubs. It has no doctrine or holy writ.

*Fanaticism consists in redoubling your effort when you have forgotten your aim.

Arthur Laffer

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Arthur Laffer