Laffer curve D. Rockefeller and Henry Ford. While he served as Secretary of the U.S. Treasury Department his wealth peaked at around US$300–US$400 million. Personal income-tax receipts rose from US$719 million in 1921 to over US$1 billion in 1929, an average increase of 4.2% per year over an 8-year period, which supporters attribute to the rate cut. David Hume also expressed similar arguments in his essay "Of Taxes" in 1756, as did fellow Scottish economist Adam Smith, twenty years later. The Democratic party made a similar argument in the 1880s when high revenue from import tariffs raised during the Civil War (1861–1865)
According to Jim sense for us". But on June 27, 2007, ABC renewed the show for a seventh season with 18 episodes. "According to Jim" returned to ABC's schedule on Tuesday January 1, 2008, with two episodes at 9 pm and 9:30 pm. After that, the series moved to its regular time slot at 8 pm. Despite the writer's strike, ABC announced that the show would produce all 18 episodes ordered for this season. On February 27, 2008, it was reported that ABC was close to renewing "According to Jim" for an eighth season. On May 13, 2008, ABC officially renewed the series