_____ is known for showing that a reduction in tax rates could increase tax revenues.

Question

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Arthur Laffer is known for proposing the Laffer Curve, which illustrates the relationship between tax rates and revenue. According to Laffer, there is an optimal tax rate that maximizes revenue, and if tax rates are higher than that rate, there will be a disincentive to work and invest, leading to a decrease in revenue. By contrast, if tax rates are lower than that rate, people would have more incentives to work and invest, leading to an increase in revenue. This idea became influential in the Reagan administration's tax policies in the 1980s.

_____ Is Known for Showing That a Reduction in Tax