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)
Laffer, South Australia which was conducted in August 2016 reports that Laffer had a population of 48 people. Laffer is located within the federal division of Barker, the state electoral district of MacKillop and the local government area of the Tatiara District Council. Laffer, South Australia Laffer is a locality in the Australian state of South Australia located in the state’s south-east about south-east of the state capital of Adelaide and about west of the municipal seat in Bordertown. Its boundaries were created on 24 August 2000. Its name is derived from the cadastral unit of the Hundred of Laffer which it occupies