Laffer curve Office has estimated that extending the Bush tax cuts of 2001–2003 beyond their 2010 expiration would increase deficits by $1.8 trillion over the following decade. Economist Paul Krugman contended that supply-side adherents did not fully believe that the United States income tax rate was on the "backwards-sloping" side of the curve and yet they still advocated lowering taxes to encourage investment of personal savings. Supply-side economics indicates that the simple descriptions of the Laffer curve are usually intended for pedagogical purposes only and do not represent the complex economic responses to tax policy which may be observed from such viewpoints
From each according to his ability, to each according to his needs if any member of society has an unsatisfied need, each member has a duty to produce its object (if they can). But that is precisely what the principle ‘from each according to their abilities, to each according to their needs!’ dictates. In Marx’s vision, the basic principle of developed communism is a principle of solidarity in respect of need.' Marx delineated the specific conditions under which such a creed would be applicable—a society where technology and social organization had substantially eliminated the need for physical labor in the production of things, where "labor has become not only a means of