Laffer curve A draft paper by Y. Hsing looking at the United States economy between 1959 and 1991 placed the revenue-maximizing average federal tax rate between 32.67% and 35.21%. A 1981 article published in the "Journal of Political Economy" presented a model integrating empirical data that indicated that the point of maximum tax revenue in Sweden in the 1970s would have been 70%. A 2011 paper by Trabandt and Uhlig published in the "Journal of Monetary Economics" estimated a 70% revenue maximizing rate, and predicted that the US and most European economies were on the left of the Laffer curve (in other
To each according to his contribution the amount of labor contributed increases. However capitalism can lead to a situation where the means of production are owned by a small minority who do not produce, but rather live off the labor of others. Socialism is said to remedy this by putting the means of production in common hands and rewarding individuals according to their contributions. In the "Critique of the Gotha Programme", while criticizing Lassalle's ideas, Marx elaborates on the theory. According to Marx's analysis of the Programme, Lassalle suggests that "the proceeds of labor belong undiminished with equal right to all members of society". While agreeing