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FILE Austin, TX January 10, 2008: Noted conservative economist Arthur Laffer, who worked in the Reagan administration and developed the Laffer Curve on tax policy, speaks at a Texas Public Policy Foundation luncheon. ©Bob Daemmrich

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FILE Austin, TX January 10, 2008: Noted conservative economist Arthur Laffer, who worked in the Reagan administration and developed the Laffer Curve on tax policy, speaks at a Texas Public Policy Foundation luncheon. ©Bob Daemmrich