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
To each according to his contribution so, "accordingly, the individual producer receives back from society — after the deductions have been made — exactly what he gives to it". He explains this as: In the paragraph immediately following Marx continues to explain how this system of exchange is related to the capitalist system of exchange: Marx says that this is rational and necessary, and that once society advances from the lower phase of communist society and work becomes life's prime want, distribution will occur along different lines. During the higher phase of communism, the standard shall be "from each according to his ability, to each according