Optimal tax the optimum. Stipulating this condition results in the following formula for the optimal top tax rate, if incomes are Pareto distributed: formula_1 where: Empirical estimation of the parameters of this equation suggests that the revenue-maximising top tax rate is between approximately 50% and 80%, although this estimate neglects long-run behavioural responses, which would imply higher elasticities and a lower optimal tax rate. Saez's analysis can also be generalised to tax rates other than the top rate. In the late 1970s, Arthur Laffer developed the Laffer curve, which demonstrates that there are two effects of changing tax rates: an arithmetic effect—if
According to Spike Milligan there are running gags about Dr. Frankenstein's sea voyages during which his ship sinks, the monster disappearing mysteriously because he runs at speeds of 100 mph, and notes by an editor (Milligan) making sarcastic remarks about events in the novel. "The Hound of the Baskervilles According to Spike Milligan" is a spoof of "The Hound of the Baskervilles" by Sir Arthur Conan Doyle. The plot is almost the same as the original, the main differences being that the Spike Milligan version is considerably shorter, and there is more humorous content. Written from the viewpoint of Dr. Watson (who is accompanied