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Who originated the theory that advocates in a recession the people spend and the government lower taxes?
Arthur Laffer allegedly scribbled the idea for his now famous "Laffer Curve" allegedly showing a an inverse and direct relationship between income tax rates and taxable income. The now discredited theory held that lowering effective income tax rates actually led to an increase in taxable income.
What does the Laffer curve show?
The laffer curve shows that there is a level of taxation at which government revenue is maximised. It assumes that government revenue will be zero if tax rate is 100% since nobody would work and assumes that if tax rate was zero then government would receive no revenue. As such it is logical to assume that there must be a tax rate between 0 and 100 which would maximise government revenueThe Laffer curve is a graph in economics that shows the relationship between the federal tax rate, and total government revenue. If the y-axis is government revenue, and the x-axis is tax rate, the graph appears to be an upside down parabola; however, if the x-axis is govt. tax revenue, and the y-axis is tax rate, the graph is a sideways, parabolic non-function. Either way, at a tax rate of 100%, there is $0 in revenue, and at a tax rate of 0%, there is also $0 in revenue. It illustrates that at a certain tax rate, govt. revenue is maximized.
Difference between learning curve and experience curve?
difference between leaning curve and experience curve
What is difference between individual supply curve and market supply curve?
The difference between individual supply curve and the market supply curve is tat individual supply curve is like a firm. To be able to get the market supply curve you have to have the individual supply curve.
What is needed to dertermine the equilibrium of a good or service?
by finding where the supply curve and the demand curve intersect
The Laffer curve predicts the effects of changes in the tax rate on which of the following?
tax revenues
What supply side economics curve originally drawn on a napkin in a Washington bar purports to show that lower tax rates bring in greater tax revenues?
Laffer curve
What is reaganomics closely associated with?
The Laffer Curve, which is a special case situation in economics where reducing taxes increases government revenues by stimulating the economy.
When did George Laffer die?
George Laffer died in 1933.
When was George Laffer born?
George Laffer was born in 1866.
When was Larry Laffer created?
Larry Laffer was created in 1987.
10 Points This curve sHow is that lower taxes can mean higher government revenue and it is named for what economist who drew it on Dick Cheney's cocktail napkin?
Arthur Laffer
When was Arthur Laffer born?
Arthur Laffer was born on August 14, 1940, in Youngstown, Ohio, USA.
Did aurthur laffer vote for Bill Clinton?
No, Arthur Laffer did not vote for Bill Clinton. Laffer is a conservative economist and was an adviser to Republican presidents, including Ronald Reagan. Therefore, it is unlikely he voted for Clinton, a Democrat.
Who originated the theory that advocates in a recession the people spend and the government lower taxes?
Arthur Laffer allegedly scribbled the idea for his now famous "Laffer Curve" allegedly showing a an inverse and direct relationship between income tax rates and taxable income. The now discredited theory held that lowering effective income tax rates actually led to an increase in taxable income.
What has the author Jax Laffer written?
Jax Laffer has written: 'The Blood Within' 'Another side of evil' -- subject(s): Crimes against, Fiction, Rapists, Women
What does the Laffer curve show?
The laffer curve shows that there is a level of taxation at which government revenue is maximised. It assumes that government revenue will be zero if tax rate is 100% since nobody would work and assumes that if tax rate was zero then government would receive no revenue. As such it is logical to assume that there must be a tax rate between 0 and 100 which would maximise government revenueThe Laffer curve is a graph in economics that shows the relationship between the federal tax rate, and total government revenue. If the y-axis is government revenue, and the x-axis is tax rate, the graph appears to be an upside down parabola; however, if the x-axis is govt. tax revenue, and the y-axis is tax rate, the graph is a sideways, parabolic non-function. Either way, at a tax rate of 100%, there is $0 in revenue, and at a tax rate of 0%, there is also $0 in revenue. It illustrates that at a certain tax rate, govt. revenue is maximized.
