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 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