Arthur Laffer that U.S. tax rates had in fact reached such extreme levels." Laffer is currently an economic adviser to Kansas Governor Sam Brownback, who in 2012 zeroed out state tax liability for approximately 330,000 of the top wage earners in the state. The state, which had previously had a budget surplus, experienced a budget deficit of about $200 million in 2012. Drastic cuts to state funding for education and infrastructure have been implemented because of the budget deficits. Brownback's tax overhaul was described in a June 2017 article in "The Atlantic" as the United States' "most aggressive experiment in conservative economic
Notional Defined Contributions pension system the pension is based on history of lifetime earnings and is much more heavily influenced by misreporting of one’s income. In Poland NDC pension scheme was introduced in 1996. The country faced serious fiscal challenges with rate of contribution into the pension system having reached 45% of gross wage. The system was implemented in 1999 after long political discussion about its various aspects and was meant as means of both reducing the future pension debt and motivating workers to prolong their careers. Notional Defined Contributions The term Notional Defined Contributions or Non-financial Defined Contributions or NDC refers to