"You can explain it to a congressman in six minutes, and he can talk about it for six months," Hal Varian, an economist, once noted of the tax revenue curve known as the Laffer curve. In concept ...
At the end of the dynasty, taxation yields small revenue from large assessments (Ibn Khaldun, The Muqaddimah, 1381). The basic idea behind the Laffer curve is the relationship between tax rates ...
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