from The American Heritage® Dictionary of the English Language, 4th Edition
- n. A curved graph that illustrates the theory that, if tax rates rise beyond a certain level, they discourage economic growth, thereby reducing government revenues.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. a graph purporting to show the relation between tax rates and government income; income increases as tax rates increase up to an optimum beyond which income declines
After Arthur Laffer (born 1940), American economist.(American Heritage® Dictionary of the English Language, Fourth Edition)
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