Keyword: laffer

Brevity: Headers | « Text »
  • Art Laffer: Trump Should Win Easily

    07/23/2016 11:48:27 AM PDT · by Jim 0216 · 54 replies ^ | JUL 19, 2016 | FRED BARNES
    Art Laffer is a famous economist, one of the brains behind President Ronald Reagan's supply-side tax cuts in 1981. But he was also a political adviser to Reagan and other presidential candidates. Based on history rather than polls or demographics, he insists Donald Trump will win the presidential race—and win easily. History is an argument not often heard in presidential elections except in one case: the likelihood that after one party holds the White House for eight years, that party probably won't win four more years. The one exception in the past half-century was the election of George H.W. Bush...
  • Laffer Curve Needs Change in Terminology From Government Speak to Individual Rights and Freedom

    07/23/2016 1:01:38 PM PDT · by Jim 0216 · 8 replies
    Love to see everyone enjoying the afterglow of this amazing GOP Convention. Haven’t felt like this politically since 1980. I think morning is once again coming to America. Art Laffer, economist, has analyzed Trumps chances and it brought up some thoughts I have on the Laffer Curve. I love the curve but I hate the terminology... Laffer and Reagan brought us an unprecedented and historic 25 years of growth and prosperity until the Left finally shut it down. Tax cuts are a must, but we need to flip the reasoning - we need to change the terminology and the paradigm...
  • Art Laffer: Trump Should Win Easily

    07/23/2016 7:19:44 AM PDT · by Amntn · 43 replies
    The Weekly Standard ^ | 7/19/16 | Art Laffer
    Art Laffer is a famous economist, one of the brains behind President Ronald Reagan's supply-side tax cuts in 1981. But he was also a political adviser to Reagan and other presidential candidates. Based on history rather than polls or demographics, he insists Donald Trump will win the presidential race—and win easily. History is an argument not often heard in presidential elections except in one case: the likelihood that after one party holds the White House for eight years, that party probably won't win four more years. The one exception in the past half-century was the election of George H.W. Bush...
  • Trump Turns To Reagan-Era Economic Advisers To Bring American Economy Back To Life

    05/26/2016 2:31:06 PM PDT · by InvisibleChurch · 82 replies
    D c whispers ^ | 5-26-16
    For those who remember the record-breaking era of economic prosperity that was the Reagan years, you will be happy to learn that the Team Trump is at this very moment receiving advice from some of the most influential economic policy advisers who helped shape that Reagan-era success. Names like Laffer, Moore, and Kudlow were once synonymous with an America that saw itself push back from the deep doldrums of the Carter economic morass, and Team Trump, with the encouragement of Trump campaign supervisor Paul Manafort, is now working to bring a version of that 1980’s success to 2017 and beyond....
  • Ted Cruz tax plan better than Reagan's: Art Laffer (video)

    04/16/2016 11:56:43 PM PDT · by JediJones · 30 replies
    CNBC ^ | 4/15/2016 | CNBC
    Arthur Laffer of Laffer Associates reacts to presidential candidate Ted Cruz's tax plan, in which Cruz proposes individuals above certain income threshold pay a 10 percent flat tax, and a 16 percent flat tax on companies.
  • Art Laffer: The Rand Paul And Ted Cruz Flat Tax Plans Are Best Tax Proposals

    11/23/2015 6:49:54 AM PST · by SeekAndFind · 10 replies
    IBD ^ | 11/23/2015 | Arthur Laffer and Stephen Moore
    As we've cheerfully noted on these pages, the good news on the presidential campaign trail is that almost all Republicans are now for serious pro-growth tax reform and simplification. Every candidate wants lower rates (some a one-rate flat tax), fewer loopholes and carve-outs, and a reduced role for an abusive IRS. What a contrast with Bernie Sanders, who declared at last week's Democratic debate that he could live with a 90% tax rate on the rich. Why not take it all, Bernie? All the GOP tax plans look good to us — though some are admittedly better than others. The...
  • Trump to meet with Art Laffer and Steve Forbes to hammer out tax plan (video)

    08/13/2015 11:41:01 AM PDT · by RoosterRedux · 88 replies
    Youtube ^ | Neal Cavuto
    This was Neal Cavuto last night.
  • Arthur Laffer: How Tax And Tariff Hikes Crushed 1930s America

    07/20/2015 4:46:29 AM PDT · by SeekAndFind · 31 replies
    IBD ^ | 07/20/2015 | Arthur Laffer
    'Government is not the solution to our problem; government is the problem," may well be President Reagan's most oft-repeated quote. And the reason it's so frequently quoted is because it's so damn true. And no example fits this quote better than the government actions taken before and during the Great Depression. In 1929, the single largest tax increase on traded products was passed by both the U.S. House and the U.S. Senate. In May 1930, this so-called Smoot-Hawley tariff was signed into law by President Herbert Hoover, which precipitated massive retaliation on U.S. products by foreign governments. From that moment...
  • Two Big Fiscal Lessons from Colorado’s Pot Legalization

    02/14/2015 7:49:46 AM PST · by Kaslin · 19 replies ^ | February 14, 2015 | Daniel J. Mitchell
    Regular readers know that I don’t approve of drug use, but that I also favor legalization because the Drug War has been a costly and ineffective failure.(And it’s led to horrible policies such as intrusive money-laundering laws and Orwellian asset-forfeiture laws).So I was happy when folks in Colorado voted to decriminalize marijuana use, even if part of me didn’t like the idea that politicians would gain a new source of tax revenue.If nothing else, what’s happening in Colorado (and Washington state) will be an interesting social experiment.And even though we only have a modest bit of data, I’m going to be...
  • Kansas bond rating downgraded after tax cuts

    08/07/2014 6:53:42 AM PDT · by C19fan · 7 replies
    Washington Post ^ | August 6, 2014 | Reid Wilson
    An ambitious plan to cut income taxes in Kansas will end up costing the state more money than it initially estimated after a key ratings agency downgraded the state’s debt on Wednesday. Standard & Poor’s cited structural imbalances created by the tax cut in its decision to slice Kansas’s bond rating from AA+ to AA. That means Kansas will have to offer a higher interest rate to lenders when it issues new bonds. The package of tax cuts, backed by Gov. Sam Brownback (R) and his conservative allies in the state legislature, was never offset with equal spending cuts, S&P...
  • Are Maryland Democrats Embracing the Laffer Curve?

    02/14/2014 1:34:36 PM PST · by ThethoughtsofGreg · 11 replies
    American Legislator ^ | 2-13-14 | Ben Wilterdink
    The idea that lowering tax rates can lead to higher revenue collections from increased economic activity is not a new one. Nor is this observation unique to tax policy. A business may lower the price of a good and see a higher profit as many more people choose to purchase that good for the cheaper price. But Arthur Laffer, an economist in the Reagan administration and co-author of ALEC’s Rich States, Poor States report, is credited with popularizing this idea through his “Laffer Curve.” However, many advocates of ever-increasing tax rates accuse promoters of this common sense principle as only...
  • Obamanomics, RIP (by Arthur Laffer & Stephen Moore )

    10/02/2013 6:53:47 AM PDT · by Innovative · 9 replies
    American Spectator ^ | Oct 1, 2013 | Arthur Laffer & Stephen Moore
    Government stimulus spending, paid for by running up the federal credit card, is why we have the never-ending Great Recession, though the left keeps fantasizing that spending “saved us from a second great depression.” But the best evidence of his shrinking agenda is the trend in federal spending. It’s falling, and not at a trickle. Think Niagara (figure 1). Many Americans who have sucked up the Keynesian vapors floating around in the ether cannot imagine that government spending actually hurts the economy. But we would love for the government-as-stimulus crowd to explain the chart below of government spending versus unemployment...
  • Can You Spell L-A-F-F-E-R-C-U-R-V-E?

    07/13/2013 11:52:31 AM PDT · by Kaslin · 18 replies ^ | July 13, 2013 | Daniel J. Mitchell
    I’m thinking of inventing a game, sort of a fiscal version of Pin the Tail on the Donkey. Only the way it will work is that there will be a map of the world and the winner will be the blindfolded person who puts their pin closest to a nation such as Australia or Switzerland that has a relatively low risk of long-run fiscal collapse.That won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of nations. We also know that many states and cities suffer from the same...
  • Peter Schiff Was Right 2006 - 2007 (2nd Edition) (video)

    06/11/2013 7:10:05 PM PDT · by Signalman · 11 replies
    youtube ^ | 11/2/2008 | jdouche
    Watch Peter Schiff in 2006/2007 state that the stock market and housing Market were about to crash. Watch the so-called experts laugh at Peter Schiff while claiming that the housing and stock markets were going to rocket upwards. Among the "experts who laughed at Schiff were Art Laffer and Ben Stein. Laffer, Stein and the others were wrong. Very wrong. Peter Schiff was right. By the way, Schiff has predicted an economy and stock market crash in 2013.
  • An Embarrassing Metric Disappears: Why are gov't stats taxpayer migration being discontinued?

    12/11/2012 8:45:57 AM PST · by SeekAndFind · 8 replies
    National Review ^ | 12/11/2012 | Jim Pettit
    As the din of America’s falling headfirst over the fiscal cliff reverberates across the nation, the Obama administration is quietly killing a key economic metric that tells how, and how many, people are voting with their feet. Since 1991 the Internal Revenue Service has been compiling statistics on filers’ addresses, which the agency’s Statistics of Income division uses to show who is moving into and out of every county and state in the nation. As you’d expect, the IRS also knows the aggregate income levels of those who move. So the movements of the most fundamental productive components of the...
  • Tax Fairness | Reverse Parity

    12/02/2012 4:30:25 PM PST · by NaturalBornConservative · 13 replies
    Natural Born Conservative ^ | December 2, 2012 | Larry Walker Jr
    It’s Magic!- By: Larry Walker, II -The current 2012 Tax Rate Schedule is shown below. Applying the Obama-Doctrine, single filers making over $200,000, and married filers making over $250,000 would get a tax hike. However, since there is no cut-off at either $200,000 or $250,000 in the current tax rate schedule, the 33% bracket would need to be split, resulting in a sharp tax increase for a handful of unfortunate individuals. Thus, taxpayers with taxable incomes between $200,000 ($250,000 if married) and $388,350 would see their taxes rise by 20%, while those with incomes over $388,350 would get that plus...
  • Arthur Laffer: The Real 'Stimulus' Record

    08/06/2012 5:07:30 AM PDT · by bt_dooftlook · 5 replies
    WSJ ^ | 08/06/2012 | Arthur Laffer
    In country after country, increased government spending acted more like a depressant than a stimulant. - Policy makers in Washington and other capitals around the world are debating whether to implement another round of stimulus spending to combat high unemployment and sputtering growth rates. But before they leap, they should take a good hard look at how that worked the first time around. It worked miserably, as indicated by the table nearby, which shows increases in government spending from 2007 to 2009 and subsequent changes in GDP growth rates. Of the 34 Organization for Economic Cooperation and Development nations, those...
  • New report debunks narrative on income inequality

    07/26/2012 5:33:39 AM PDT · by TurboZamboni · 6 replies
    laffer center ^ | 7-13-12 | Brian Domitrovic
    that the gap is growing between America’s richest and poorest are built on a foundation of flawed research, according to a report published today by the Laffer Center for Supply-Side Economics. “The principal research supporting claims of dramatic income inequality in America is unsound and misguided,” said Laffer Center Senior Fellow Brian Domitrovic, Ph.D. “This focus on ‘the 1 percent’ takes no account of any absolute increase or decrease in living standards on the part of the lower classes. Studies have shown that in every recent interval of American history, and certainly from 1980 to the present, living standards and...
  • Eureka! The fix California needs is found…

    03/28/2012 11:30:08 AM PDT · by landsbaum · 14 replies
    California need not drown in debt and economic failure. So says Arthur Laffer, the happy advocate of a flat tax for California to solve the Golden State’s ills. We are inclined to favor a flat tax, as we’ve intimated and bellowed from time to time. And Laffer’s new book, Eureka! How to Fix California, is a blueprint for replacing the existing state and local taxes with a single, 5.8-percent flat income tax on personal unadjusted gross income. . .
  • When Taxes Don't Have The Desired Effect

    03/20/2012 3:44:21 PM PDT · by greywar · 31 replies
    zPatriot ^ | 3/20/2012 | Sergeant Greywar
    Even small dis-incentives can drive economic activity to die off or move.While discussing the near inevitability of a tax on buying or selling shares in a company (separate for already existing taxes for gains from those transaction) the German newspaper Der Speigel cites the British experiment with exactly this sort of tax:  To see why, one must look no further than the meager successes of the British stock exchange tax, which only applies to share transactions, which constitute a tiny portion of all financial transactions. Since the introduction of the "Stamp Duty Reserve Tax" of 0.5 percent on the sale...
  • Gingrich: I Supported Goldwater

    01/26/2012 10:05:56 AM PST · by Halfmanhalfamazing · 17 replies · 1+ views
    Real Clear Politics Gingrich Video ^ | January 23rd | Gingrich
    "I went to a Goldwater organizing session in 1964. I met with Ronald Reagan for the first time in 1974. I worked with Jack Kemp, and Art Laffer and others to develop supply side economics in the late '70s. I helped Governor Reagan become President Reagan. I helped pass the Reagan economic program and worked with the National Security Council on issues including the collapse of the Soviet Empire," Newt Gingrich said at tonight's debate.
  • Newt Gingrich Endorsed by Architect of Reagan Economic Plan, Economist Arthur Laffer

    12/28/2011 11:38:08 PM PST · by 2ndDivisionVet · 18 replies
    Fox News ^ | December 27, 2011 | Joy Lin
    Dyersville, IA - Renowned economist, father of The Laffer Curve and supply-side economics, and architect of the Ronald Reagan economic plan, Arthur Laffer, announced his endorsement Tuesday of Newt Gingrich for President of the United States. "Newt has the best plan for jobs and economic growth of any candidate in the field," said Laffer. "Like Ronald Reagan's tax cuts and pro-growth policies, Newt's low individual and corporate tax rates, deregulation and strong dollar monetary policies will create a boom of new investment and economic growth leading to the creation of tens of millions of new jobs over the next decade....
  • Economist Art Laffer Endorses Gingrich

    12/28/2011 5:06:30 PM PST · by SeekAndFind · 18 replies
    Newsmax ^ | 12/28/2011
    Arthur Laffer, the architect of Ronald Reagan’s economic plan, announced today that he is endorsing Newt Gingrich for president. "Newt has the best plan for jobs and economic growth of any candidate in the field,” said Laffer, the renowned economist who is the father of The Laffer Curve and supply-side economics. “Like Ronald Reagan’s tax cuts and pro-growth policies, Newt’s low individual and corporate tax rates, deregulation. and strong dollar monetary policies will create a boom of new investment and economic growth leading to the creation of tens of millions of new jobs over the next decade,” Laffer declared. “Plus,...
  • Speaker Gingrich gets Pres Ronald Reagan economist endorsement (Art Laffer)

    12/27/2011 4:13:06 PM PST · by TBBT · 50 replies ^ | Greta Van Susteren
    Newt Gingrich Endorsed by Architect of Reagan Economic Plan, Economist Arthur Laffer Dyersville, IA – Renowned economist, father of The Laffer Curve and supply-side economics, and architect of the Ronald Reagan economic plan, Arthur Laffer, announced his endorsement today of Newt Gingrich for President of the United States. “Newt has the best plan for jobs and economic growth of any candidate in the field,” said Laffer. “Like Ronald Reagan’s tax cuts and pro-growth policies, Newt’s low individual and corporate tax rates, deregulation and strong dollar monetary policies will create a boom of new investment and economic growth leading to the...
  • Reagan Supply-Sider Takes on Critics of Cain 999 Plan

    10/19/2011 8:42:05 AM PDT · by rbmillerjr · 12 replies
    The Every Day Conservative ^ | Oct., 19, 2011 | RB Miller
    Full Text of Article (less graphics) follows: Laffer Shoots Down Critics on Cain 999 for WSJ In an Opinion piece for the Wall Street Journal, Supply Side economist and Reagan advisor, Art Laffer, looks at the number and concludes it is real stimulus for the American economy. Cain's plan will bring in the same revenue as the current tax code on a "static basis." This means that given no assumptions for extra "dynamic" growth, the 999 Plan will meet revenue needs. But, Laffer strongly believes that the Cain Plan will bring in more due to the intrinsic economic positives of...
  • Cain's Stimulating 9-9-9- Plan

    10/19/2011 5:26:14 AM PDT · by SueRae · 100 replies
    Wall St. Journal Opinion ^ | 10/19/2011 | Art Laffer
    It used to be that the sole purpose of the tax code was to raise the necessary funds to run government. But in today's world the tax mandate has many more facets. These include income redistribution, encouraging favored industries, and discouraging unfavorable behavior. To make matters worse there are millions and millions of taxpayers who are highly motivated to reduce their tax liabilities. And, as those taxpayers finagle and connive to find ways around the tax code, government responds by propagating new rules, new interpretations of the code, and new taxes in a never-ending chase. In the process, we create...
  • Architect of Cain's 9-9-9 plan says he should drop the sales tax

    10/18/2011 12:28:10 PM PDT · by Brookhaven · 153 replies
    The Hill ^ | 10-18-11 | Jonathan Easley
    Economist Stephen Moore, one of the architects of presidential contender Herman Cain’s 9-9-9 tax plan, said Cain needs to rework a critical component of the plan. Cain’s plan would replace the current tax structure with a 9 percent corporate tax rate, a 9 percent personal income tax rate and a 9 percent federal sales tax. But speaking on Larry Kudlow’s radio show on Saturday, Moore said the sales tax should be replaced with a 9 percent payroll tax. “I’ve come to the conclusion that the American people and the voters do not want a national sales tax,” he said. “[Cain’s]...
  • Cain’s 9-9-9 Plan Gain’s Big-Name Backers

    10/14/2011 11:03:38 AM PDT · by casablanca · 50 replies
    Newsmax ^ | 10.14.11 | Martin Gould
    Herman Cain’s catchy 9-9-9 tax overhaul system is gathering major supporters as the former pizza magnate consolidates his position at the top of the Republican field in the race for the White House. House budget committee chairman Rep. Paul Ryan and Ronald Reagan’s economic guru Art Laffer both expressed their support for the plan which would replace the current tax code. The anti-tax Club for Growth also came out in favor of Cain’s plan which would cut income and corporate taxes to 9 percent and institute a new national sales tax at the same level. Payroll, capital gains and estate...
  • The Myth of Arthur Laffer

    10/14/2011 8:25:18 AM PDT · by marty60 · 110 replies · 3+ views
    Various (linked) | 10-14-2011 | various
    Although he does not claim to have invented the Laffer curve concept (Laffer, 2004), it was popularized with policy-makers following an afternoon meeting with Nixon/Ford Administration officials Dick Cheney and Donald Rumsfeld in 1974 in which he reportedly sketched the curve on a napkin to illustrate his argument. The term "Laffer curve" was coined by Jude Wanniski, who was also present. The basic concept was not new; Laffer himself says he learned it from Ibn Khaldun and John Maynard Keynes.Wikijunk “This may be unpleasant to some of you: We have benefited more from free trade than anybody else. Outsourcing is...
  • Reagan Economist Breaks Down Cain's 999 Plan (Art Laffer)

    10/13/2011 7:21:17 PM PDT · by justsaynomore · 50 replies
    FOX NEWS ^ | 10/13/11 | Brett Baier/Art Laffer
    Reagan Economist Breaks Down Cain's 999 Plan (Art Laffer)
  • Art Laffer endorses Herman Cain’s 999 plan

    10/13/2011 11:02:38 AM PDT · by justsaynomore · 83 replies · 1+ views
    The RIght Scoop ^ | 10/13/11 | The Right Scoop
    Art Laffer, a former member of Reagan’s Economic Policy Advisory Board and the man who created the Laffer Curve, has now come out and endorsed Herman Cain’s 999 plan, saying that it will undoubtedly be a huge boon to economic growth. This is very good news for Herman Cain: HUMAN EVENTS – Famed supply-side economist Art Laffer​ told HUMAN EVENTS that Cain’s “9-9-9″ plan was a pro-growth plan that would create the proper conditions for America’s economy to grow and thrive again. “Herman Cain’s 9-9-9 plan would be a vast improvement over the current tax system and a boon to...
  • Godfather of Supply-Side Economics Supports Cain's '9-9-9' Plan

    10/12/2011 6:50:02 PM PDT · by justsaynomore · 168 replies · 1+ views
    Human Events ^ | 10/12/11 | Tony Lee
    As businessman Herman Cain surges atop state and national polls and becomes a top-tier presidential contender, his signature "9-9-9" plan, which calls for a nine percent tax on income, a nine percent national sales tax, and a nine percent corporate income tax, has come under scrutiny from the right and the left. Famed supply-side economist Art Laffer told HUMAN EVENTS that Cain's "9-9-9" plan was a pro-growth plan that would create the proper conditions for America's economy to grow and thrive again. "Herman Cain’s 9-9-9 plan would be a vast improvement over the current tax system and a boon to...
  • Spending Cuts, Not Tax Hikes, Best for Deficit: NABE

    08/22/2011 6:51:56 AM PDT · by MNJohnnie · 12 replies
    CNBC ^ | 08-22-11 | CNBC
    The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts. The survey out Monday found that 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and tax increases. The remaining 7 percent believe it should be done only or mostly through tax increases. As for how to reduce the deficit, nearly 40 percent said the best way would be to contain Medicare and Medicaid costs. Nearly a quarter recommended overhauling the tax system...
  • Art Laffer: Obama Must Use Reaganomics to Save Economy ('It's not magic sauce, it's common sense')

    08/10/2011 5:40:26 PM PDT · by SeekAndFind · 30 replies
    Newsmax ^ | 08/10/2011 | Martin Gould and Kathleen Walter
    The only way President Barack Obama can solve the nation’s economic woes is to adopt “common-sense” Reaganomics, the policy’s architect Arthur Laffer claims in an exclusive Newsmax.TV interview. Laffer said the White House called him in the spring and asked him to speak to Obama’s former Council of Economic Advisors’ chairman Austen Goolsbee – and he had told him exactly the same thing. “Reaganomics would fix any economy that’s in the doldrums,” Laffer said. “It’s not a magic sauce, it’s common sense. “You’ve got to get rid of all federal taxes in the extreme and replace them with a low-rate...
  • Tax the Rich!!!!! (OK, Raise Taxes on all the "Rich" GS and SES "Workers" Until Deficit is Zero.)

    07/06/2011 9:56:16 AM PDT · by Robert A. Cook, PE · 14 replies
    NA ^ | 5 July 2011 | R A Cook
    So Obama demands that we must progressively "Tax the Rich" as a price for raising the debt limit. OK. Let's do that. Any civilian government employee making over $150,000.00 per year gets a 15% tax increase until the deficit is zero'ed. Any civilian making over $100,000.00 per year gets a 10% tax increase. Any civilian making over $75,000.00 per year gets a 5% tax increase. So how much would this raise? Does it really matter, Obama (and Hillary) have already said in 2008 that the fact that raising capital gains tax rates doesn't increase revenue "doesn't matter, it is a...
  • The 30-Cent Tax Premium

    04/18/2011 9:23:42 AM PDT · by WOBBLY BOB · 7 replies
    WSJ ^ | 4-18-11 | Art Laffer
    In a study published last week by the Laffer Center, my colleagues Wayne Winegarden, John Childs and I estimate that these costs alone are a staggering $431 billion annually. This is a cost markup of 30 cents on every dollar paid in taxes. And this is not even a complete accounting of the costs of tax complexity.
  • John F. Kennedy on taxes

    09/07/2010 10:25:41 PM PDT · by DaveTesla · 10 replies
    WND ^ | July 19, 2004 | William J. Federer
    "It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now ... Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus." – John F. Kennedy, Nov. 20, 1962, president's news conference -------------------------------------------------------------------------------- "Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not...
  • The Soak-the-Rich Catch-22

    08/01/2010 5:14:05 PM PDT · by fightinJAG · 31 replies · 5+ views
    WSJ ^ | Aug 2, 2010 | Arthur Laffer
    Tax reduction thus sets off a process that can bring gains for everyone, gains won by marshalling resources that would otherwise stand idle—workers without jobs and farm and factory capacity without markets. Yet many taxpayers seemed prepared to deny the nation the fruits of tax reduction because they question the financial soundness of reducing taxes when the federal budget is already in deficit. Let me make clear why, in today's economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarged the federal deficit—why reducing taxes is the best way open to us to increase revenues. —President...
  • Obama and the Age of Reaganomics

    08/01/2010 2:53:00 AM PDT · by Scanian · 2 replies · 1+ views
    The American Thinker ^ | August 01, 2010 | Jon N. Hall
    Certain ideas get so firmly fixed in some folks' brains that no amount of evidence can dislodge them. Such ideas become articles of faith. And one article of faith that is particularly deeply stuck in the minds of "the faithful" is that Reaganomics doesn't work. The big idea behind Reaganomics is that cutting tax rates boosts the economy, which results in more tax revenue. The history of the last three decades bears this out. The faithful have tried to disprove Reaganomics by contending that the 1993 tax rate hike is what gave us the good economy and the balanced budgets...
  • Arthur Laffer: Unemployment Benefits Aren't Stimulus

    07/08/2010 9:33:34 AM PDT · by WOBBLY BOB · 30 replies · 3+ views
    WSJ ^ | 7-08-10 | art laffer
    The current debate over extending and increasing federal unemployment benefits encapsulates the disagreement between the Democrats in power in Washington and their Republican opponents. What the consequences will be of raising unemployment benefits in today's depressed economy is at issue. The most obvious argument against extending or raising unemployment benefits is that it will make being unemployed either more attractive or less unattractive, and thereby lead to higher unemployment. Empirical research supports this view.
  • Disagreeing With Art Laffer ( Tax Hikes Won't Kill the Economy, at least not in 2011)

    06/16/2010 6:24:06 AM PDT · by SeekAndFind · 22 replies · 484+ views
    Forbes ^ | 06/16/2010 | Brian Westbury and Robert Stein
    Policy matters--especially tax rates. Over time few things affect economic activity more than absolute and relative tax rates. In addition, changes in tax rates, particularly when they can be anticipated ahead of time, can also result in shifts in the timing of economic activity. Recently, Arthur Laffer--prominent economist and inventor of the Laffer Curve--fretted about the economic impact of the expiring (2003) Bush tax cuts. In a Wall Street Journal opinion piece he wrote that the tax hikes would lift growth in 2010 but cause a double-dip recession in 2011 when the rates actually went up. Laffer cites the early...
  • Arthur Laffer Is So Full Of It -- Here's What Tax Cuts Really Do To The Economy

    06/07/2010 7:40:17 PM PDT · by blam · 70 replies · 436+ views
    The Business Insider ^ | 6-7-2010 | Asha Bangalore, Northern Trust
    Arthur Laffer Is So Full Of It -- Here's What Tax Cuts Really Do To The Economy Asha Bangalore, Northern Trust Jun. 7, 2010, 9:20 PM In the post below, Asha Bangalore of Northern Trust responds to Art Laffer's WSJ op-ed demanding more tax cuts. The title above, of course, is ours (Asha's far too professional and polite for a title like that). Asha's title is "Missing Elements" of Mr. Laffer's Incomplete Story. Mr. Laffer illustrates his arguments about tax cuts and the positive impact on economic growth with the Reagan tax cut experience (see chart 1, replication of chart...
  • Tax Hikes and the 2011 Economic Collapse

    06/07/2010 2:12:53 PM PDT · by Comrade Brother Abu Bubba · 49 replies · 274+ views
    Wall Street Journal ^ | Monday, June 7, 2010 | Arthur Laffer
    Arthur Laffer explains how proposed January 2011 tax hikes could be creating terrible unintended consequences today, and are setting the stage for an epic collapse next year. People can change the volume, the location and the composition of their income, and they can do so in response to changes in government policies. It shouldn't surprise anyone that the nine states without an income tax are growing far faster and attracting more people than are the nine states with the highest income tax rates. People and businesses change the location of income based on incentives. Likewise, who is gobsmacked when they...
  • The Revenue Limits of Tax and Spend

    05/17/2010 2:15:28 AM PDT · by The Raven · 3 replies · 385+ views
    The Wall St Journal (Subscription) ^ | may 17, 2010 | DAVID RANSON
    [snip] U.S. fiscal policy has been going in the wrong direction for a very long time. But this year the U.S. government declined to lay out any plan to balance its budget ever again. Based on President Obama's fiscal 2011 budget, the Congressional Budget Office (CBO) estimates a deficit that starts at 10.3% of GDP in 2010. It is projected to narrow as the economy recovers but will still be 5.6% in 2020. As a result the net national debt (debt held by the public) will more than double to 90% by 2020 from 40% in 2008. The current Greek...
  • Laffer Curve

    01/29/2010 2:56:56 PM PST · by Paul46360 · 14 replies · 614+ views
    Does anyone have the info El-Rushbo was talking about on his show today about the Laffer curve and the 2011 economy downturn that is expected.Would like to use it in my Econ class.
  • Taxes, Depression, and Our Current Troubles (They ruined the 1930s, they could do the same today)

    09/22/2009 6:56:25 AM PDT · by SeekAndFind · 19 replies · 1,081+ views
    Wall Street Journal ^ | 9/22/2009 | Arthur Laffer
    The 1930s has become the sole object lesson for today's monetary policy. Over the past 12 months, the Federal Reserve has increased the monetary base (bank reserves plus currency in circulation) by well over 100%. While currency in circulation has grown slightly, there's been an impressive 17-fold increase in bank reserves. The federal-funds target rate now stands at an all-time low range of zero to 25 basis points, with the 91-day Treasury bill yield equally low. All this has been done to avoid a liquidity crisis and a repeat of the mistakes that led to the Great Depression. Even with...
  • We are on The Laffer Curve

    09/16/2009 1:27:09 PM PDT · by Admiral_Zeon · 41 replies · 1,847+ views
    Science Magazine ^ | 16 Sep 2009 | S Carroll
    The Laffer Curve is a simple idea: a government can’t raise taxes forever and expect to increase revenue along the way. Eventually you’re taking so much in taxes that people don’t have any reason to earn income. The argument is simple (and correct): if you have zero tax rate you get zero tax revenue. If you raise taxes just a bit, nobody will be discouraged from working, and you will collect some amount of revenue; therefore, the curve of revenue versus tax rate starts at zero and initially rises. But if the tax rate is 100%, nobody has any reason...
  • You Can't Soak the Rich [Regardless of tax rates, federal tax revenue is always 19.5% of GDP]

    09/22/2008 3:19:03 PM PDT · by grundle · 28 replies · 1,094+ views
    Wall St. Journal ^ | May 20, 2008 | David Ranson
    Kurt Hauser is a San Francisco investment economist who, 15 years ago, published fresh and eye-opening data about the federal tax system. His findings imply that there are draconian constraints on the ability of tax-rate increases to generate fresh revenues. I think his discovery deserves to be called Hauser's Law Like science, economics advances as verifiable patterns are recognized and codified. On this page in 1993, he stated that "No matter what the tax rates have been, in postwar America tax revenues have remained at about 19.5% of GDP." The chart nearby, updating the evidence to 2007, confirms Hauser's Law....
  • America's future (California vs Texas)

    07/11/2009 7:45:54 AM PDT · by SeekAndFind · 89 replies · 3,385+ views
    The Economist ^ | 7/10/2009
    AMERICA’S recent history has been a relentless tilt to the West—of people, ideas, commerce and even political power. California and Texas, the nation’s two biggest states, are the twin poles of the West, but very different ones. For most of the 20th century the home of Silicon Valley and Hollywood has been the brainier, sexier, trendier of the two: its suburbs and freeways, its fads and foibles, its marvellous miscegenation have spread around the world. Texas, once a part of the Confederacy, has trailed behind: its cliché has been a conservative Christian in cowboy boots, much like a certain recent...
  • Get Ready for Inflation and Higher Interest Rates (the 1970's will look benign in comparison)

    06/10/2009 5:35:31 AM PDT · by SeekAndFind · 22 replies · 1,379+ views
    Wall Street Journal ^ | 6/10/2009 | Arthur Laffer
    Rahm Emanuel was only giving voice to widespread political wisdom when he said that a crisis should never be "wasted." Crises enable vastly accelerated political agendas and initiatives scarcely conceivable under calmer circumstances. So it goes now. Here we stand more than a year into a grave economic crisis with a projected budget deficit of 13% of GDP. That's more than twice the size of the next largest deficit since World War II. And this projected deficit is the culmination of a year when the federal government, at taxpayers' expense, acquired enormous stakes in the banking, auto, mortgage, health-care and...