Laffer curve estimated and such estimates are controversial. "The New Palgrave Dictionary of Economics" reports that estimates of revenue-maximizing tax rates have varied widely, with a mid-range of around 70%. There is a consensus among leading economists that a reduction in the US federal income tax rate would not raise annual total tax revenue. The Laffer curve was popularized in the United States with policymakers following an afternoon meeting with Ford Administration officials Dick Cheney and Donald Rumsfeld in 1974, in which Arthur Laffer reportedly sketched the curve on a napkin to illustrate his argument. The term "Laffer curve" was coined by
Notional Notional Notional (born February 1, 2004 in California) is an American Thoroughbred racehorse. He was sired by In Excess and out of the mare Truly Blessed. His damsire, French Deputy, is a son of the 1997/98 Leading sire in North America, Deputy Minister. Notional is trained by Doug O'Neill for owner J. Paul Reddam, who also have three-year-olds Great Hunter and Liquidity in their stable. Racing at age two, Notional's best showing in a stakes race was a third in the 2006 Hollywood Prevue Stakes. In his three-year-old debut, Notional won January's Grade II San Rafael Stakes at Santa Anita