Laffer curve estimated and such estimates are controversial. "The New Palgrave Dictionary of Economics" reports that estimates of revenue-maximizing tax rates have varied widely, with a mid-range of around 70%. There is a consensus among leading economists that a reduction in the US federal income tax rate would not raise annual total tax revenue. The Laffer curve was popularized in the United States with policymakers following an afternoon meeting with Ford Administration officials Dick Cheney and Donald Rumsfeld in 1974, in which Arthur Laffer reportedly sketched the curve on a napkin to illustrate his argument. The term "Laffer curve" was coined by
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