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Close your eyes and imagine it's 1975. Inflation is high, jobs are scarce and the government decides the best way to stimulate the economy is to raise taxes. Nowadays, that approach doesn't seem to make much sense, but smart people once believed that the best way to help the common man was to tax him as much as possible, then turn around and dole out entitlements to keep folks afloat.
What changed this thinking was a little curved line on a piece of graph paper. During the Ford administration, a young economist named Arthur Laffer decided to prove graphically that higher taxes were bad and lower taxes were so good, they could actually boost government revenue, not shrink it. (There's an apocryphal story about him excitedly drawing a picture on the back of a cocktail napkin.)
How? Think of a pure curve, starting at zero and going to 100, with the peak of the hump somewhere in between (more on that later). At zero, if the government assessed no taxes, the government would have no revenue. But, at 100, if the government taxed all the income at a dollar-for-dollar rate, the government would have nothing either, since folks would have no incentive to work if they were handing over all their paycheck to the Feds.
Somewhere in between was the ideal rate between taxing so the government can stay in business, but not crippling regular folks. Ideally, low taxes are better, according to Laffer, since it gives more money to consumers to spend and thus stimulate the economy. In fact, the Laffer curve was the foundation of what became Supply-Side Economics.
And, for the record, Laffer never took credit for the idea, saying economists had been promoting the idea for centuries. Of course, none of them had a napkin.
Home / Markets / Industries / Telecom
Friday, May 09, 2008
Verizon Business Earns 'Cisco 2007 U.S. Partner Provider of the Year,' Other Top Awards for U.S. and Canada
Comtex
BASKING RIDGE, N.J., May 9, 2008 /PRNewswire via COMTEX News Network/ ----Verizon Business' outstanding performance and success as a Cisco channel partner has earned it the Cisco 2007 Partner Provider of the Year award and three other top awards for services sold in the U.S. and Canada.
In addition to the partner provider award, Verizon Business received the Cisco Managed Security Services Award for the U.S. and Canada, the Cisco U.S. Top Federal Systems Integrator Award, and the Cisco U.S. and Canada channel award for Excellence in Access Router Attach.
"In 2007, we moved our collaboration with Cisco to a new level, and these awards underscore our success in meeting this goal," said Nancy Gofus, senior vice president and chief marketing officer, Verizon Business. "Our relationship with Cisco and the ability to leverage the power of our IP capabilities support Verizon Business' position as a global leader in the delivery of managed network and security services."
Wendy Bahr, vice president of U.S. and Canada channels at Cisco, said, "I had the honor and privilege of recognizing Verizon Business as a four-time Cisco Partner Summit award winner. Verizon Business continues to be an industry-leading service provider, and these awards recognize Verizon Business' performance and success as a Cisco channel partner in United States and Canada during 2007."
The awards were presented in April at Cisco's annual partner summit in Honolulu. Cisco selected Verizon Business from among all of its U.S. and Canadian Certified Channel Partners.
Cisco Partner Summit Awards are presented to channel partners that meet a specific set of requirements designed to identify the best channel partner in each category. Cisco has built a formalized nomination and selection process that begins with each sales theater, or region, nominating a channel partner for each category. Nominations are reviewed and final selections made by a group of Cisco worldwide and regional channel executives. Customer satisfaction is the basic criterion for all the awards, which also comply with the requirements of the Cisco Channel Partner Program.
Verizon Business, a Cisco Gold Partner, has a worldwide service and support team of more than 6,500 personnel, as well as nearly 1,000 employees with Cisco Qualified Specialist Certifications in advanced routing and switching, advanced wireless, advanced security and advanced unified communications. It also has more than 1,200 global personnel dedicated to the delivery of security solutions. The company received the Cisco 2006 Global Managed Services Partner of the Year Award and the Cisco 2005 Global Service Provider Partner of the Year award recognizing the strength and accomplishments of the Verizon Business Cisco Channel Partner Program.
Today, Verizon Business manages 260,000-plus devices on more than 4,200 customer networks in 142 countries and territories, overseeing non-Verizon connections from more than 60 network providers around the world. Verizon Business' industry-leading service-level commitments for its managed network services and award-winning IMPACT management platform underscore its legacy of service and innovation. Verizon Business also offers a suite of professional network and security services to help customers successfully deploy and manage IP networks. These services range from network assessment and design consulting to project management and capacity planning.
About Verizon Business
Verizon Business, a unit of Verizon Communications (NYSE: VZ), is a leading provider of advanced communications and information technology (IT) solutions to large-business and government customers worldwide. Combining unsurpassed global network reach with advanced communications, security and professional service capabilities, Verizon Business delivers innovative and seamless business solutions to customers around the world. For more information, visit www.verizonbusiness.com.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high quality video and images, and other information are available at Verizon's News Center on the World Wide Web at www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
SOURCE Verizon Business
http://www.verizonbusiness.com
Copyright (C) 2008 PR Newswire. All rights reserved
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