Economic policy of the George W. Bush administration finance Social Security and Medicare benefits as well as investments in schools, health, infrastructure, and basic research... [and] generate further inequalities in after-tax income." The Bush administration had claimed, based on the concept of the Laffer Curve, that the tax cuts actually paid for the themselves by generating enough extra revenue from additional economic growth to offset the lower taxation rates. However, income tax revenues in dollar terms did not regain their FY 2000 peak until 2006. Through the end of 2008, total federal tax revenues relative to GDP had yet to regain their 2000 peak. When asked whether the
From each according to his ability, to each according to his needs if any member of society has an unsatisfied need, each member has a duty to produce its object (if they can). But that is precisely what the principle ‘from each according to their abilities, to each according to their needs!’ dictates. In Marx’s vision, the basic principle of developed communism is a principle of solidarity in respect of need.' Marx delineated the specific conditions under which such a creed would be applicable—a society where technology and social organization had substantially eliminated the need for physical labor in the production of things, where "labor has become not only a means of