Laffer curve A draft paper by Y. Hsing looking at the United States economy between 1959 and 1991 placed the revenue-maximizing average federal tax rate between 32.67% and 35.21%. A 1981 article published in the "Journal of Political Economy" presented a model integrating empirical data that indicated that the point of maximum tax revenue in Sweden in the 1970s would have been 70%. A 2011 paper by Trabandt and Uhlig published in the "Journal of Monetary Economics" estimated a 70% revenue maximizing rate, and predicted that the US and most European economies were on the left of the Laffer curve (in other
From each according to his ability, to each according to his needs life but life's prime want". Marx explained his belief that, in such a society, each person would be motivated to work for the good of society despite the absence of a social mechanism "compelling" them to work, because work would have become a pleasurable and creative activity. Marx intended the initial part of his slogan, "from each according to his ability" to suggest not merely that each person should work as hard as they can, but that each person should best develop their particular talents. Claiming themselves to be at a "lower stage of communism" (i.e. "socialism", in line with