At dinner, I expressed my elation that tax relief in NJ passed through in the Legislature awaiting Mr. Corzine's, our governor, signature. Matthew, my son who is interested in economics and politics, discussed briefly Laffer curve http://en.wikipedia.org/wiki/Laffer_curve . I have not heard this concept before, interesting. Basically, state revenue increases with tax rate up to a maximum, beyond that the citizen would change behavior and becomes a negative motivation. His argument was that where are we in the curve. We are not in the maximum or hump. We are either on the sides of the curve.
It was 13F this morning and I had my first experience to start a cold diesel engine. Pumping the gas/diesel pedal will not work. It took me 5 to 7 starts before the engine finally stayed on. It pays to read the owner's manual.
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