Optimal tax the optimum. Stipulating this condition results in the following formula for the optimal top tax rate, if incomes are Pareto distributed: formula_1 where: Empirical estimation of the parameters of this equation suggests that the revenue-maximising top tax rate is between approximately 50% and 80%, although this estimate neglects long-run behavioural responses, which would imply higher elasticities and a lower optimal tax rate. Saez's analysis can also be generalised to tax rates other than the top rate. In the late 1970s, Arthur Laffer developed the Laffer curve, which demonstrates that there are two effects of changing tax rates: an arithmetic effect—if
Notional election results local government wards, and it is the results from local government elections that are the primary source used to calculate notional results at a constituency level. Professors Colin Rallings and Michael Thrasher of Plymouth University have been involved in calculating notional results for general elections since 1992 where periodic boundary changes have taken place. The data compiled from their work has been used by several prominent media companies including television channels for the purposes of comparing one general election result to the last. Notional results have their limitations in that voting patterns may well have been different had new boundaries