It holds that at both 0% and 100% levels of its primary object, the government actually gains no revenue.  
Its name was coined by Wall Street Journal editor Jude Wanniski in 1978, and it is a major foundational basis for an economic theory decried as "Voodoo" by George H.W. Bush.  It holds that at both 0% and 100% levels of its primary object, the government actually gains no revenue.  As a result, proponents of this curve argue that in many cases, cutting taxes will actually result in more profits for the government.  For 10 points, which economic curve, famously first drawn by its popularizer on a cocktail napkin, was crucial for Ronald Reagan's supply-side economic policy?
Its name was coined by Wall Street Journal editor Jude Wanniski in 1978, and it is a major foundational basis for an economic theory decried as "Voodoo" by George H.W. Bush.  
{Laffer} curve