Laffer curve for how reductions in individual income tax rates might affect the overall future growth of the economy, and therefore influence future government tax revenues; and ultimately, impact deficits or surpluses. In the paper's most generous estimated growth scenario, only 28% of the projected lost revenue from the lower tax rate would be recouped over a 10-year period after a 10% across-the-board reduction in all individual income tax rates. In other words, deficits would increase by nearly the same amount as the tax cut in the first five years, with limited feedback revenue thereafter. Through increased budget deficits, the tax cuts
Larry Laffer person's full name as a comical reference, "Jerry" was then altered to "Larry", a similar name, in honor of injury attorney Larry H. Parker, a childhood friend of Lowe. Lowe had to find a new surname, and having in mind the many L-words of the title, skimmed through the 'L' volume of an encyclopedia in order to find a suitable word or name. He fell on the entry of Arthur Laffer, and the name caught his attention due to its phonetic resemblance to 'laugher'. Arthur Laffer for years had no idea about the existence of the games until much later