Laffer curve led to federal budget surpluses. The Republican party, which was then based in the protectionist industrial Northeast, argued that cutting rates would lower revenues. But the Democratic party, then rooted in the agricultural South, argued tariff reductions would increase revenues by increasing the number of taxable imports. In 2012, economists surveyed by the University of Chicago rejected the viewpoint that the Laffer Curve's postulation of increased tax revenue through a rate cut applies to federal US income taxes of the time in the medium term. When asked whether a "cut in federal income tax rates in the US right now
From each according to his ability, to each according to his needs can be found in the Guilford Covenant in 1639: Some scholars trace the origin of the phrase to the New Testament. In Acts of the Apostles the lifestyle of the community of believers in Jerusalem is described as communal (without individual possession), and uses the phrase ""distribution was made unto every man according as he had need"" (): However, other scholars disagree with this, and claim that the phrase 'from each according to their abilities, to each according to their needs' has a non-religious origin, in 'the Roman legal concept of obligation in solidum' The Roman legal concept of obligation