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
Mid-Levels higher residential property price for a residence that is away from pollution and yet remain so close to the centre of the city. Many streets are named after former Governors of Hong Kong. Examples include Bonham Road (after George Bonham, 1848–1854) and Kennedy Road (after Arthur Edward Kennedy, 1872–1877). Many of the roads in this area are within walking distance of the Central Business District, which is accessible by the Mid-Levels escalator from Central. Many choices for housing are available, from ultra-luxurious apartments to compact, near-luxury apartments. The costs of these apartments vary considerably according to the size, location and