Laffer curve D. Rockefeller and Henry Ford. While he served as Secretary of the U.S. Treasury Department his wealth peaked at around US$300–US$400 million. Personal income-tax receipts rose from US$719 million in 1921 to over US$1 billion in 1929, an average increase of 4.2% per year over an 8-year period, which supporters attribute to the rate cut. David Hume also expressed similar arguments in his essay "Of Taxes" in 1756, as did fellow Scottish economist Adam Smith, twenty years later. The Democratic party made a similar argument in the 1880s when high revenue from import tariffs raised during the Civil War (1861–1865)
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