In 1979, I snuck into a Congressional Members Only briefing to hear Laffer. He said he was a Liberal Democrat who wanted supply side economics to fund the welfare state.
In 1979, I snuck into a Congressional Members Only briefing to hear Laffer. He said he was a Liberal Democrat who wanted supply side economics to fund the welfare state.
Wow....the implications of that are interesting.
ReplyDeleteI just noticed on his wiki bio he claims to be a "staunch fiscal conservative" and "libertarian".....sheesh
I just wish I could just once witness a bolt of lightning come down and strike guys like him.
Get a second opinion from Robert Murphy. He worked for the guy.
ReplyDelete"Where's my motherf****n penny Laffer?"
ReplyDelete- Peter Schiff
"Supply-Side" "Republicans" were welfare queens every bit as enthusiatic as any Democrat. The Laffer Curve argument was never about smaller government and always about greater revenues to the treasury.
ReplyDeleteEeeeeeeeverybody loves big government.
Look up the "Two-Santa Claus" Theory if you want to understand the phenomenon a bit more. Republicans didn't think they could win on principles, only by giving away as many goodies as did the Democrats. To be fair, *some* of the gains to Republican constituents would be in the form of keeping a bit more of their income, but no one actually in power was every going to cut spending on anything.