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The Laffer curve plots total long-term tax revenues against the rate of tax.
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It illustrates the observation that when tax rates are raised too high, tax revenues (tax yield) will decline.
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This is because tax revenues are a product of the rate of tax, and the tax base.
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When tax rates are higher, the tax base tends to decline.
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In the extreme case of a 100% tax rate, the tax revenue is likely to be zero, because there is no economic incentive for undertaking the activities to earn taxable income.


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However, if tax rates are very low, this will also erode tax revenues.
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For example, if tax rates are 0%, then tax revenue will of course be zero.
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If the purpose of setting tax rates were to maximise long-term tax revenues, there would be a theoretically 'optimal' rate of tax, somewhere between 0% and 100%, that would maximise total tax revenues.
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== See also ==
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* [[Phillips curve]]
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* [[Reaganomics]]
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* [[Tax yield]]
* [[Tax rate]]
* [[Tax base]]
* [[Trussonomics]]
 
[[Category:Accounting,_tax_and_regulation]]

Revision as of 11:23, 8 August 2014

Welcome to the Treasurer's Wiki

The Treasurer’s Wiki is aimed at sharing knowledge and experience across the treasury community. We hope you will use it as a platform to share knowledge and provide useful tools to other likeminded people.

We acknowledge that to start with some of the entries are brief, but our aim was to create a wide variety of pages. We look forward to working with all the volunteer editors to build added depth and an extended coverage.

The Association of Corporate Treasurers (ACT) sets the benchmark for international treasury excellence. As the Chartered body for treasury, we lead the profession by delivering our internationally recognised suite of treasury qualifications, by defining standards and by championing continuing professional development. We are the authentic voice of the treasury profession representing the interests of the real economy and educating, supporting and leading the treasurers of today and tomorrow.

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