Laffer curve Office has estimated that extending the Bush tax cuts of 2001–2003 beyond their 2010 expiration would increase deficits by $1.8 trillion over the following decade. Economist Paul Krugman contended that supply-side adherents did not fully believe that the United States income tax rate was on the "backwards-sloping" side of the curve and yet they still advocated lowering taxes to encourage investment of personal savings. Supply-side economics indicates that the simple descriptions of the Laffer curve are usually intended for pedagogical purposes only and do not represent the complex economic responses to tax policy which may be observed from such viewpoints
Notional Park in Arcadia, California by four lengths under jockey Corey Nakatani. Sent to the Fair Grounds Race Course in New Orleans, Louisiana in February, Notional scored a 2 length win in the Risen Star Stakes under jockey Robby Albarado in a race where favorite Circular Quay was seriously impeded as a result of a race accident. Notional came in a close second to Scat Daddy in the Florida Derby in his last prep before the Kentucky Derby. While he was set to run the Triple Crown races, Notional suffered a fracture of his front cannon bone during a workout at