Arthur Laffer he learned it from Ibn Khaldun and John Maynard Keynes. A simplified view of the theory is that tax revenues would be zero if tax rates were either 0% or 100%, and somewhere in between 0% and 100% is a tax rate which maximizes total revenue. Laffer's postulate was that the tax rate that maximizes revenue was at a much lower level than previously believed: so low that current tax rates were above the level where revenue is maximized. Numerous leading economists have rejected the view that a tax rate cut of current federal US income taxes can lead to
From each according to his ability, to each according to his needs complete paragraph containing Marx's statement of the creed in the "Critique of the Gotha Program" is as follows: Although Marx is popularly thought of as the originator of the phrase, the slogan was common within the socialist movement. For example, it was used by August Becker in 1844 and Louis Blanc in 1851. The origin of this phrasing has also been attributed to the French utopian Étienne-Gabriel Morelly, who proposed in his 1755 "Code of Nature" "Sacred and Fundamental Laws that would tear out the roots of vice and of all the evils of a society", including: A similar phrase