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Laffer curve

[laf-er] /ˈlæf ər/
noun, Economics.
a relationship postulated between tax rates and tax receipts indicating that rates above a certain level actually produce less revenue because they discourage taxable endeavors and vice versa.
Origin of Laffer curve
1975-80; named after Arthur Laffer (born 1940), U.S. economist, who postulated it Unabridged
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British Dictionary definitions for Laffer curve

Laffer curve

(economics) a curve on a graph showing government tax revenue plotted against percentage tax rates. It has been used to show that a cut in a high tax rate can increase government revenue
Word Origin
C20: named after Arthur Laffer (born 1940), US economist
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
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