Free Republic

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...

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.

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...

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...

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...

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...

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. . .

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...

"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.

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....

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,...

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...

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...

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...

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]...

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...

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)

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...

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...