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
To each according to his contribution as a system whereby the laborer receives the full product of his labor through the elimination of exploitation and accrual of unearned income to a capitalist class. The term means simply that each worker in a socialist society receives compensation and benefits according to the quantity and value of the labor that he or she contributed. This translates into workers of high productivity receiving more wages and benefits than workers of average productivity, and substantially more than workers of low productivity. An extension of this principle could also be made so that the more difficult one's job is—whether this difficulty