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02:14

So Whats the ICC Angle?

From the Blog sohaibalviSo Whats the ICC Angle? by Sohaib Alvi What ICC is doing today reminds me of the Laffer Curve we studied in economics 101 back in business school. This curve shows the relationship between tax rates and tax revenue collected by governments and is shaped like an inverted bell placed on the table as seen from sideways. With revenue collected from people plotted on the y-axis and tax rate on the x-axis, the curve suggests that, as taxes increase from low levels, tax revenue collected by the government also increases. It then shows that tax rates increasing after a certain point would cause people not to work as hard or not at all, thereby reducing tax revenue. The theory is that ultimately, if tax rates reached 100% then all people would rather not work because everything they earpakistanblogs.blogspot.comRead Full PostComments

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