Travel ideas usa on TITHI BATTACHARYA, PH.D. PURDUE UNIVERSITY Laffer Curve ARTHUR LAFFER, AN ECONOMIST from the University of Southern California, was having dinner at a restaurant. The discussion turned to high tax rates. It was 1974 and, at that time, the highest marginal federal individual income tax rate was 70 percent.
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Laffer started sketching a graph on a napkin. Laffer's drawing depicted the relationship between tax rates and the total revenue generated by the federal government. Travel ideas usa 2016.
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