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Former Prosecutor Michael Nifong of Durham County, North Carolina:
Laffer Curve
A theoretical representation showing the relationship between tax rates and government revenue, positing that there is an optimum tax rate that maximizes revenue.
Laffer Curve
A theoretical representation of the relationship between tax rates and tax revenue, suggesting there is an optimal tax rate that maximizes revenue.
Tax Revenue
The financial proceeds that are secured by governments through the imposition of taxes.
Deadweight Loss
The loss of economic efficiency that occurs when the equilibrium outcome is not achievable or not achieved in a market.
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