Almost everything Republicans get wrong about the economy started with a cocktail napkin in 1974

Growth, argued Laffer, depends on how much people work and how much businesses invest. He believed both those things hinge on tax rates: the more income the government takes away in taxes, the less motivated people are to work and save (leaving businesses less money to invest).

Looks like he wrote on an actual cloth napkin.

If it were my house, I would have had something to say about that.