"Laffer Curve," the theory that the more you cut taxes, the more tax revenue comes in.

[riversedge]

Wisconsin under gov Walker also operated under the Laffer curve. We had slow growth for years after he cut taxes -we still have not recovered. Nothing for infrastructure, roads, schools, etc.

Link to tweet

?s=20

Link to tweet

?s=20


This should scare the shit out of everyone. Art Laffer is the genius behind the "Laffer Curve," the theory that the more you cut taxes, the more tax revenue comes in. Kansas tested that theory & wrecked their economy so hard even the GOPs endorsed the Dem candidate for governor.

Link to tweet

?s=20



Business News
April 8, 2020 / 4:27 PM / Updated a day ago
Cut salaries, taxes to reopen U.S. economy says Laffer, conservative fave


https://www.reuters.com/article/us-health-coronavirus-usa-laffer/cut-salaries-taxes-to-reopen-u-s-economy-says-laffer-conservative-fave-idUSKCN21Q3AT


Ann Saphir, Jeff Mason 5 Min Read

WASHINGTON (Reuters) - Republican economist Art Laffer, an architect of the Reagan era tax cuts that paved the way for historic budget deficits in the United States, has a plan to rejuvenate today’s pandemic-crippled economy.

Tax non-profits. Cut the pay of public officials and professors. Give businesses and workers who manage to hold on to their jobs a payroll tax holiday to the end of the year.

What about the extra aid funneled to newly jobless workers by the $2.3 trillion fiscal rescue package? Such government spending, Laffer told Reuters in an interview, will only serve to deepen the downturn and slow the recovery.

“If you tax people who work and you pay people who don’t work, you will get less people working,” Laffer said. “If you make it more unattractive to be unemployed, then there’s an incentive to go look for another job faster.”

Laffer’s unconventional plan isn’t just an academic exercise. First of all, he says he has presented it to his contacts at the White House. They include presidential economic advisor Larry Kudlow, who considers Laffer a mentor.

Laffer is also being floated in influential right-wing circles as a good candidate to head a proposed new industry task force aimed at re-opening the U.S. economy as soon as possible. “Bring in the minds like Art Laffer,” Sean Hannity, the Fox News host said April 6 of the proposed task force.

Trump tweeted his support for the new economic task force on April 4, calling it a “good idea.” He hasn’t yet mentioned Laffer, but on Tuesday reiterated his support for a payroll tax cut, saying it would be a “fantastic time” to deliver it.

Trump awarded Laffer the Presidential Medal of Freedom last year .................

[calimary]

1. "A rising tide raises all boats." His favorite buzzphrase, and he's dined out on it for years

But he's never explained how a rising tide raises the boats that are anchored to the bottom.

[JHB]

10. He's never seen a real tide

No tide rises from the top down.

[The Magistrate]

2. Is Ridiculous, Sir

This has been another edition of 'Is some stupid shit Republicans believe true?'....

[tblue37]

3. Brownback did that in Kansas and destroyed our economy. Now we have a Dem governor,

But the GOP majority in the legislature is still screwing things up where they can.

[Bengus81]

5. Almost racked up a BILLION $$$ in debt in Kansas......

By giving business a ZERO % tax bracket. People flocked to start an LLC which qualified for no taxes and Brokeback tried to claim business was growing. It was actually overturned before Brownback left and then Laura Kelly (as usual) came in to clean up a massive Republican disaster.

[riversedge]

6. same as in WI (although not quite as bad). now we have Dem Gov but Repugs rule Legislature

[riversedge]

4. Cut salaries, taxes to reopen U.S. economy says Laffer, conservative fave.......

April 8, 2020 / 4:27 PM / Updated a day ago

Cut salaries, taxes to reopen U.S. economy says Laffer, conservative fave
https://www.reuters.com/article/us-health-coronavirus-usa-laffer/cut-salaries-taxes-to-reopen-u-s-economy-says-laffer-conservative-fave-idUSKCN21Q3AT

Ann Saphir, Jeff Mason

5 Min Read

WASHINGTON (Reuters) - Republican economist Art Laffer, an architect of the Reagan era tax cuts that paved the way for historic budget deficits in the United States, has a plan to rejuvenate today’s pandemic-crippled economy

Tax non-profits. Cut the pay of public officials and professors. Give businesses and workers who manage to hold on to their jobs a payroll tax holiday to the end of the year.

What about the extra aid funneled to newly jobless workers by the $2.3 trillion fiscal rescue package? Such government spending, Laffer told Reuters in an interview, will only serve to deepen the downturn and slow the recovery.

“If you tax people who work and you pay people who don’t work, you will get less people working,” Laffer said. “If you make it more unattractive to be unemployed, then there’s an incentive to go look for another job faster.”

Laffer’s unconventional plan isn’t just an academic exercise. First of all, he says he has presented it to his contacts at the White House. They include presidential economic advisor Larry Kudlow, who considers Laffer a mentor.

Laffer is also being floated in influential right-wing circles as a good candidate to head a proposed new industry task force aimed at re-opening the U.S. economy as soon as possible. “Bring in the minds like Art Laffer,” Sean Hannity, the Fox News host said April 6 of the proposed task force.

Trump tweeted his support for the new economic task force on April 4, calling it a “good idea.” He hasn’t yet mentioned Laffer, but on Tuesday reiterated his support for a payroll tax cut, saying it would be a “fantastic time” to deliver it.

Trump awarded Laffer the Presidential Medal of Freedom last year .................

[MoonlitKnight]

12. A roadmap of what NOT to do

It would make the Great Depression look good in comparison.

[lagomorph777]

7. I have always called it the "Laughable Curve"

But it isn't actually funny.

[hvn_nbr_2]

14. I usually call it the Laugher Curve. nt

[Bengus81]

8. Raising the MW everwhere to at least $15.00 hour would increase revenue

by billions of $$$. But Republicans just can't stomach the fact of someone starting out making that much money and are able to think on their own.

[Hermit-The-Prog]

9. It's moronavirus meets coronavirus in a Repuke shit-show.

Taxing people who work does not leave them with less than if they don't work. Taxing people who work gives them such things as highways, schools, bridges, police, fire departments, and, when repukes are not in the majority, a competent government which can deal effectively with threats against the population.

Laffer should be laughed into hiding.

[LastDemocratInSC]

11. Right wingers are gullible, weak minded fools.

[MineralMan]

13. I call it the Laughter Curve