Laffer curve tax structure in 1997. Some have also cited Hauser's Law, which postulates that US federal revenues, as a percentage of GDP, have remained stable at approximately 19.5% over the period 1950 to 2007 despite changes in marginal tax rates over the same period. Others however, have called Hauser's Law "misleading" and contend that tax changes have had large effects on tax revenues. More recently, based on Laffer curve arguments, Kansas Governor Sam Brownback greatly reduced state tax rates in 2012. The state, which had previously had a budget surplus, experienced a budget deficit of about $200 million in 2012. Drastic
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