Laffer curve cited directly by Laffer. For example, in 1924, Secretary of Treasury Andrew Mellon wrote: "It seems difficult for some to understand that high rates of taxation do not necessarily mean large revenue to the government, and that more revenue may often be obtained by lower rates". Exercising his understanding that "73% of nothing is nothing", he pushed for the reduction of the top income tax bracket from 73% to an eventual 24% (as well as tax breaks for lower brackets). Mellon was one of the wealthiest people in the United States, the third-highest income-tax payer in the mid-1920s, behind John
Notional Notional Notional (born February 1, 2004 in California) is an American Thoroughbred racehorse. He was sired by In Excess and out of the mare Truly Blessed. His damsire, French Deputy, is a son of the 1997/98 Leading sire in North America, Deputy Minister. Notional is trained by Doug O'Neill for owner J. Paul Reddam, who also have three-year-olds Great Hunter and Liquidity in their stable. Racing at age two, Notional's best showing in a stakes race was a third in the 2006 Hollywood Prevue Stakes. In his three-year-old debut, Notional won January's Grade II San Rafael Stakes at Santa Anita