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The Laffer Curve
The tale tells that Arthur B. Laffer sketched his famous curve on a napkin during a lunch with Jude Wanniski, Donald Rumsfeld and Dick Cheney. At that time, he surely did not imagine the renown that will follow this day of December 1974. The Laffer curve relates for each tax rate the expected total tax revenues. For low rates, tax rate and tax revenues move in the same way. But, as rates increase, this relation works in the opposite direction: higher tax rate produces smaller tax revenues. Hence, beyond this "maximum tax rate" the disincentive" effect of taxation is overwhelming. Nonetheless, this maximum rate is not empirically defined: it depends on place, time, circumstances, etc. The following file does not pretend to be exhaustive. Its goal is to introduce key arguments about Laffer Curve.
Introduction/Definitions
Laffer Curve: quick definition by Investopedia.com
Laffer Curve: quick definition by amosweb.com
Laffer Curve: detailed definition by wikipedia.org
Laffer Curve and context in US history by encyclopedia.thefreedictionary.com
Arthur B. Laffer: professional biography by Barber & Associates
Anecdote: Laffer's ability to present his ideas simply by Online Learning Center
Fiscal Analysis
"Public Spending, Transfers and the Laffer Curve" by Zsolt Becsi (Federal Reserve Bank of Atlanta & Louisiana State University, April, 2002 - pdf)
"Revenue Maximizing Taxation is Not Optimal" by Jim Saxton (Joint Economic Committee, United States Congress - July, 1997 - pdf)
"Taxes, Revenues, and the "Laffer Curve" by Jude Wannisky (The Wall Street Journal - June, 1978)
Studies & Mathematical Modelling
"Why Fairness Matters: A New Look at the Laffer Curve and the Displacement Loss From Tax Evasion" by Filip Palda (Ecola Nationale d'Administration Publique, Montreal, Québec - August, 2001 - pdf)
"Evidence on the high-income Laffer curve from six decades of tax reform" by Austan Goolsbee (University of Chicago, September, 1999 - pdf)
"Green Tax Refrom and the Laffer curve in labour market models: A brief note" by Thomas Ziesemer (MERIT, 2003 - pdf)
"Explosive hyperinflation, inflation tax Laffer curve and modeling the use of money" by Maria-José Gutiérrez & Jesus Vasquez (pdf)
Opinions
"Revisiting and Expanding the Laffer Curve" by Tibor R. Machan (strike-the-root.com - March 18, 2004)
"You must be having a Laffer" by Richard Adams (guardian.co.uk - January 22, 2004)
"Dear Dr. Dollar" by Judith Walker (dollar & sense .org, December, 2003)
"Laffer's Laugher" by Bill Mann (humour on www.fool.com)
Books & Articles
"Supply Side Tax Policy: Its Relevance to Developing Countries" by Ved P. Gandhi, 1988, International Monetary Fund, ISBN 0939934914
"Politics, Time, and the Laffer Curve" by James M. Buchanan & Dwight R. Lee, Journal of Political Economy, August 1982, volume 90, Issue 4, pp. 816-819.
Videos
Comments
As mentioned earlier, the
As mentioned earlier, the open government movement made major strides today -- when together with the Christian Louboutin Participatory Politics Foundation, we launched OpenGovernment Minnesota. This brings the total number of states covered by the OpenGovernment initiative, to six. As we continue to expand this project to include more states, we take note of individual citizens who are being proactive about tracking the legislature in their states. By so doing, we recognize that active citizen participation in government is the key to prompting change and increasing accountability. And we support this recognition by building tools that empower the public to see how their government is functioning Louboutin. But our role can not simply be reduced to tracking bills. We need to be engaged in the rule making process and reinforcing Public Records Laws and Open Meetings Laws is one such way of doing that. All the while ensuring that the legislative system is not given "special treatment".
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