A representation of the relationship between taxation and government revenue
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4 episodes with Laffer curve
2 episodes with Laffer curve
2 episodes with Laffer curve
3 episodes with Laffer curve
2 episodes with Laffer curve
2 episodes with Laffer curve
2 episodes with Laffer curve
Steve Forbes urges President Trump and his team to go back to following the Laffer Curve, economist Art Laffer's economic formula which fueled the American comeback of the 1980s and 1990s, in order to unleash today's economy and make a brighter future.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
What do tariffs, the Laffer Curve, and Ferris Bueller's Day Off have in common? More than you'd think. This week, we dive into the world of trade policy, culture wars, and deflated middle-aged fatherhood, all from the basement. From Trump's so-called "Liberation Day" of tariffs to secret WhatsApp groups planning military strikes, this episode examines how America's trade war is about identity, masculinity, and a long-festering grudge against Europe. With a history lesson on Smoot-Hawley, Reaganomics, and the ghost of Arthur Laffer, we ask: if America is only barely exposed to global trade, why the war on Europe? And is this all just economic policy reimagined as culture war th Join the gang! https://plus.acast.com/s/the-david-mcwilliams-podcast. Hosted on Acast. See acast.com/privacy for more information.
This is the latest in my series of podcasts explaining how economics works in the credit crunch and now virus pandemic era. This week I give my thoughts on will the UK be forced to go to the IMF? Does a Wealth Tax work? Has the Laffer Curve moved against us? Does Chancellor Reeves want a recession to reduce UK interest-rates to 0%?
In part one of Red Eye Radio with Gary McNamara and Eric Harley, Democrat Texas Rep. Jasmine Crockett calls wheelchair bound Governor Abbott "hot wheels"; Director of National Intelligence Tulsi Gabbard says Iran is not developing a nuclear weapon; DOGE talk is good but now Congress needs to act; Trump signs executive order requiring proof of citizenship to vote in federal elections; The marijuana Laffer Curve; A mom blames energy drinks for the death of her 28 year old daughter; CNN's Scott Jennings has some thoughts on Jasmine Crockett's hateful comment about Texas Governor Abbott. For more talk on the issues that matter to you, listen on radio stations across America Monday-Friday 12am-5am CT (1am-6am ET and 10pm-3am PT), download the RED EYE RADIO SHOW app, asking your smart speaker, or listening at RedEyeRadioShow.com. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Professor Tim Evans of Middlesex University says that Donald Trump wants to push through a fundamental rebalancing of the US economy, shifting wealth from the public to private sector. He is willing to go through a period of chaos to do so, using tariffs as a blunt foreign policy tool to bully and cajole. In the UK, we may be at, or over, the peak of the Laffer Curve where taxes cause a change in behaviour. 15-30% of cigarette purchases could now be illicit. Will the government reduce duty to increase revenue? And with Labour stealing some centre-right policies, will the strife in those parties intensify and how can they respond? Learn more about your ad choices. Visit podcastchoices.com/adchoices
Doea Rachel from accounts know this...that there comes a point where raising tax beyond a certain level actually raises LESS money? Clearly she doesn't! Should we be slashing tax? And if we should but we are not, why is that? Are we sleepwalking into a nightmare dystopian future? We really appreciate your support! https://www.buymeacoffee.com/howtoraisemoney You can watch Nigel renovate a lopsided terrace house: https://www.youtube.com/@escapetothedreamhouseuk IF YOU NEED HELP: Get in touch hello@htrmoney.co.uk and talk to us, we may be able to help. A trouble shared is a trouble halved! Email us at hello@htrmoney.co.uk Watch us on YouTube https://www.youtube.com/@howtoraisemoney Recommended Equipment, Software and Books - click HERE REMEMBER to review us on Apple podcasts! Resources: NOT SURE WHERE TO START? Start here by clicking the link below Get your free resource guides - HERE https://www.htrmoney.co.uk/ How to Leave a Review on Apple Podcasts click HERE Go to the Resources section for links (e.g. for tax inspection insurance via FSB) https://www.htrmoney.co.uk/resources Join the new HTRM Facebook Group! Here is the link: https://www.facebook.com/groups/htrmoney/ If you would like Ray and Nigel to work with you then get in touch - email us at hello@htrmoney.co.uk Our website is appearing (slowly!!) HERE or https://www.htrmoney.co.uk/ Email us at hello@htrmoney.co.uk Before you do anything else, remember that anything Ray or Nigel talk about, share, discuss, etc is for entertainment purposes only. It is not financial, legal or any other advice of any sort! Do not rely on anything we say or share or do because we are doing it for entertainment purposes only. Think of it like this...we are discussing topics that people may like to investigate further; ideas and information that you might want to consider further; and that sort of thing. You should always seek your own independent advice from relevant people such as lawyers and accountants. Although Ray is a qualified solicitor and Nigel is a qualified accountant, we do not have any agreement with you unless expressly and clearly documented in a contract, so please just enjoy our podcast, our info and our content and use it to as a call to action to seek professional and relevant advice specific to you. Does that make sense? Are we clear on this?! If not, then drop us an email and we can tell you the above again! The reason we say this is that everyone's situation is unique and for us to share general content like we do it means it cannot possibly be taken as specific advice just for you. Happy? We certainly hope so. Now go and review our 'entertainment' podcast and we will love you forever! Much love and gratitude, Ray and Nigel PS that link re Nigel losing 14kg in weight - use this affiliate link HERE
Historically, Western societies were defined by stark divisions between wealth and poverty, with only a slim middle class. Today, the economic landscape has transformed, largely through political and institutional changes that have enabled wealth distribution and middle-class growth. Economist Daniel Waldenström explores this evolution, highlighting that effective social and tax policies are essential to advancing shared prosperity without undermining entrepreneurship. Using rigorous research, Waldenström's work demonstrates how wealth accumulation patterns have shifted since the 1800s, emphasizing the significant role of increased access to education, property ownership, and pensions. His insights advocate for policies that promote wealth creation across all social tiers, ensuring sustainable growth and financial security for future generations. Shermer and Waldenström cover the scientific basis of economics, how personal beliefs shape economic theories, and differences between income and wealth inequality. They delve into historical wealth disparities, factors that have driven middle-class growth, and policies like the Laffer Curve and labor taxation. Waldenström also offers practical advice on fiscal policy and strategies to help poorer nations achieve wealth and stability.
FAN MAIL--We would love YOUR feedback--Send us a Text MessageExplore the transformative power of tax policy and its undeniable impact on economic growth. Many politicians, past and present, have misguidedly underestimated this crucial aspect of governance. As we reflect on historical examples, the successes of JFK and Reagan highlight how lower tax rates can indeed fuel economic expansion. Dive into the complexities of the Laffer Curve and discover why tax cuts are more than just policy— they're a pathway to prosperity. For those eager to learn more, we recommend diving into the insightful works of Larry Kudlow and Art Laffer.Our book of the day is from the authors, Art Laffer and Stephen Moore, in "The Trump Economic Miracle." They were economic advisors to Donald Trump and we can learn about Trump's knack for making people feel valued and his ambition to emulate Reagan's economic success. Key Points from the Episode:Through a critical lens, we analyze how Trump's economic policies compare to Biden's, particularly in areas like real take-home pay and inflation. With the election on the horizon, we explore why Trump's economic message resonates with a broad spectrum of voters, while Bidenomics faces increasing skepticism.In a deep dive into energy policies and business climates, we compare the economic landscapes under both administrations. From the controversy of the Keystone XL pipeline cancellation to the pressures faced by small businesses, we weigh the impacts of Biden's climate-centric agenda against Trump's deregulation efforts. We wrap up with a hopeful outlook, emphasizing the potential for economic recovery through strategic tax cuts and regulation reductions.We also talk about the role of tax policy in fueling economic growth, guided by Art Laffer's insights in "Taxes Have Consequences." Then we highlight 10 reasons by Trumps economic policies will outperform, out stimulate and outgrow Biden-Harris economic proposals plus we give two bonus reasons to further entrench how much better Trump's economic plan is above Harris's plan. Join us in championing policies that prioritize financial prosperity for American families.Other resources: Lower Taxes, Higher Revenues (the Laffer Curve) by Prager UniversityWant to leave a review? Click here, and if we earned a five-star review from you **high five and knuckle bumps**, we appreciate it greatly, thank you so much!Because we care what you think about what we think and our website, please email David@teammojoacademy.com,
Join America's Roundtable (https://americasrt.com/) radio co-host and economist Natasha Srdoc with Dr. Arthur Laffer, also known as “The Father of Supply Side Economics” in a discussion about Ronald Reagan's economic and tax policy, US economic growth of 12% during Reagan, flat tax revolution in Eastern Europe, a proper interpretation of the US debt, deficits and government spending, balancing of the budget and transfer theorem. Dr. Laffer's career has been marked by experience and success in business, in public policy, and as an academic economist and professor. During the 1970s, Dr. Laffer was a consultant to Secretaries of the Treasury George Shultz and William Simon and Chief of Staff and Secretary of Defense Donald Rumsfeld. He was the first to hold the title of Chief Economist at the Office of Management and Budget under Secretary of the Treasury George Shultz in the early 1970s. Dr. Laffer was a member of President Reagan's Economic Policy Advisory Board for both of his two terms (1981-1989). He also advised Prime Minister Margaret Thatcher on fiscal policy in the U.K. during the 1980s. Dr. Laffer's economic acumen and influence in triggering a world-wide tax-cutting movement in the 1980s have earned him the distinction in many publications as “The Father of Supply-Side Economics.” His Laffer Curve is one of the main theoretical constructs of supply-side economics. Dr. Laffer was an economic advisor to Donald Trump's 2016 presidential campaign. In 2019, President Trump awarded DR. Laffer with the Presidential Medal of Freedom for his contributions in the field of economics. He has received numerous awards and recognition for his economic work and authored a number of books, including the End of Prosperity: How Higher Taxes Will Doom the Economy—If We Let it Happen, and most recently Return to Prosperity and Trumponomics. Dr. Laffer currently lives in Nashville, Tennessee where he is the founder and chairman of Laffer Associates, an institutional economic research and consulting firm. americasrt.com (https://americasrt.com/) https://ileaderssummit.org/ | https://jerusalemleaderssummit.com/ America's Roundtable on Apple Podcasts: https://podcasts.apple.com/us/podcast/americas-roundtable/id1518878472 Twitter: @LafferCenter @ileaderssummit @NatashaSrdoc @JoelAnandUSA @supertalk America's Roundtable is co-hosted by Natasha Srdoc and Joel Anand Samy, co-founders of International Leaders Summit and the Jerusalem Leaders Summit. America's Roundtable (https://americasrt.com/) radio program - a strategic initiative of International Leaders Summit, focuses on America's economy, healthcare reform, rule of law, security and trade, and its strategic partnership with rule of law nations around the world. The radio program features high-ranking US administration officials, cabinet members, members of Congress, state government officials, distinguished diplomats, business and media leaders and influential thinkers from around the world. Tune into America's Roundtable Radio program from Washington, DC via live streaming on Saturday mornings via 65 radio stations at 7:30 A.M. (ET) on Lanser Broadcasting Corporation covering the Michigan and the Midwest market, and at 7:30 A.M. (CT) on SuperTalk Mississippi — SuperTalk.FM reaching listeners in every county within the State of Mississippi, and neighboring states in the South including Alabama, Arkansas, Louisiana and Tennessee. Listen to America's Roundtable on digital platforms including Apple Podcasts, Spotify, Amazon, Google and other key online platforms. Listen live, Saturdays at 7:30 A.M. (CT) on SuperTalk | https://www.supertalk.fm
Join America's Roundtable (https://americasrt.com/) radio co-host and economist Natasha Srdoc with Dr. Arthur Laffer, also known as “The Father of Supply Side Economics” in their conversation about industrial policy in America today, Kamala Harris's proposal of price controls, smart regulation, energy independence during Trump Presidency, incentives, requiring price transparency for medical services, offseting carbon tax with a reduction of other taxes, tariffs and international trade. Dr. Laffer's career has been marked by experience and success in business, in public policy, and as an academic economist and professor. During the 1970s, Dr. Laffer was a consultant to Secretaries of the Treasury George Shultz and William Simon and Chief of Staff and Secretary of Defense Donald Rumsfeld. He was the first to hold the title of Chief Economist at the Office of Management and Budget under Secretary of the Treasury George Shultz in the early 1970s. Dr. Laffer was a member of President Reagan's Economic Policy Advisory Board for both of his two terms (1981-1989). He also advised Prime Minister Margaret Thatcher on fiscal policy in the U.K. during the 1980s. Dr. Laffer's economic acumen and influence in triggering a world-wide tax-cutting movement in the 1980s have earned him the distinction in many publications as “The Father of Supply-Side Economics.” His Laffer Curve is one of the main theoretical constructs of supply-side economics. Dr. Laffer was an economic advisor to Donald Trump's 2016 presidential campaign. In 2019, President Trump awarded DR. Laffer with the Presidential Medal of Freedom for his contributions in the field of economics. He has received numerous awards and recognition for his economic work and authored a number of books, including the End of Prosperity: How Higher Taxes Will Doom the Economy—If We Let it Happen, and most recently Return to Prosperity and Trumponomics. Dr. Laffer currently lives in Nashville, Tennessee where he is the founder and chairman of Laffer Associates, an institutional economic research and consulting firm. americasrt.com (https://americasrt.com/) https://ileaderssummit.org/ | https://jerusalemleaderssummit.com/ America's Roundtable on Apple Podcasts: https://podcasts.apple.com/us/podcast/americas-roundtable/id1518878472 Twitter: @LafferCenter @ileaderssummit @NatashaSrdoc @JoelAnandUSA @supertalk America's Roundtable is co-hosted by Natasha Srdoc and Joel Anand Samy, co-founders of International Leaders Summit and the Jerusalem Leaders Summit. America's Roundtable (https://americasrt.com/) radio program - a strategic initiative of International Leaders Summit, focuses on America's economy, healthcare reform, rule of law, security and trade, and its strategic partnership with rule of law nations around the world. The radio program features high-ranking US administration officials, cabinet members, members of Congress, state government officials, distinguished diplomats, business and media leaders and influential thinkers from around the world. Tune into America's Roundtable Radio program from Washington, DC via live streaming on Saturday mornings via 65 radio stations at 7:30 A.M. (ET) on Lanser Broadcasting Corporation covering the Michigan and the Midwest market, and at 7:30 A.M. (CT) on SuperTalk Mississippi — SuperTalk.FM reaching listeners in every county within the State of Mississippi, and neighboring states in the South including Alabama, Arkansas, Louisiana and Tennessee. Listen to America's Roundtable on digital platforms including Apple Podcasts, Spotify, Amazon, Google and other key online platforms. Listen live, Saturdays at 7:30 A.M. (CT) on SuperTalk | https://www.supertalk.fm
Join America's Roundtable (https://americasrt.com/) radio co-host and economist Natasha Srdoc with Dr. Arthur Laffer, also known as “The Father of Supply Side Economics.” Dr. Laffer's career has been marked by experience and success in business, in public policy, and as an academic economist and professor. During the 1970s, Dr. Laffer was a consultant to Secretaries of the Treasury George Shultz and William Simon and Chief of Staff and Secretary of Defense Donald Rumsfeld. He was the first to hold the title of Chief Economist at the Office of Management and Budget under Secretary of the Treasury George Shultz in the early 1970s. Dr. Laffer was a member of President Reagan's Economic Policy Advisory Board for both of his two terms (1981-1989). He also advised Prime Minister Margaret Thatcher on fiscal policy in the U.K. during the 1980s. Dr. Laffer's economic acumen and influence in triggering a world-wide tax-cutting movement in the 1980s have earned him the distinction in many publications as “The Father of Supply-Side Economics.” His Laffer Curve is one of the main theoretical constructs of supply-side economics. Dr. Laffer was an economic advisor to Donald Trump's 2016 presidential campaign. In 2019, President Trump awarded DR. Laffer with the Presidential Medal of Freedom for his contributions in the field of economics. He has received numerous awards and recognition for his economic work and authored a number of books, including the End of Prosperity: How Higher Taxes Will Doom the Economy—If We Let it Happen, and most recently Return to Prosperity and Trumponomics. Dr. Laffer currently lives in Nashville, Tennessee where he is the founder and chairman of Laffer Associates, an institutional economic research and consulting firm. americasrt.com (https://americasrt.com/) https://ileaderssummit.org/ | https://jerusalemleaderssummit.com/ America's Roundtable on Apple Podcasts: https://podcasts.apple.com/us/podcast/americas-roundtable/id1518878472 Twitter: @LafferCenter @ileaderssummit @NatashaSrdoc @JoelAnandUSA @supertalk America's Roundtable is co-hosted by Natasha Srdoc and Joel Anand Samy, co-founders of International Leaders Summit and the Jerusalem Leaders Summit. America's Roundtable (https://americasrt.com/) radio program - a strategic initiative of International Leaders Summit, focuses on America's economy, healthcare reform, rule of law, security and trade, and its strategic partnership with rule of law nations around the world. The radio program features high-ranking US administration officials, cabinet members, members of Congress, state government officials, distinguished diplomats, business and media leaders and influential thinkers from around the world. Tune into America's Roundtable Radio program from Washington, DC via live streaming on Saturday mornings via 65 radio stations at 7:30 A.M. (ET) on Lanser Broadcasting Corporation covering the Michigan and the Midwest market, and at 7:30 A.M. (CT) on SuperTalk Mississippi — SuperTalk.FM reaching listeners in every county within the State of Mississippi, and neighboring states in the South including Alabama, Arkansas, Louisiana and Tennessee. Listen to America's Roundtable on digital platforms including Apple Podcasts, Spotify, Amazon, Google and other key online platforms. Listen live, Saturdays at 7:30 A.M. (CT) on SuperTalk | https://www.supertalk.fm
Dr. Art Laffer, one of the most influential economists of the past half-century, joins Julia La Roche for episode 194. Dr. Laffer is the founder and chairman of Laffer Associates, an economic research and consulting firm. Known as the "Father of Supply Economics," he is famous for developing the Laffer Curve, a representation of the relationship between tax rates and tax revenue that was foundational to supply-side economics. Dr. Laffer served as a member of President Reagan's Economic Policy Advisory Board for both of Reagan's terms. ✨ This episode is sponsored by Public.com. Lock in your 6.9% yield: https://public.com/julia ✨ Paid endorsement for Public Investing, Inc. Not investment advice. All investing involves the risk of loss, including loss of principal. Brokerage services for US Listed and registered securities, options and Bonds in a self-directed brokerage account are offered by Public Investing. ETFs, options and Bonds are available to US members only. *A Bond Account is a self-directed brokerage account with Public Investing, member FINRA/SIPC. Deposits into this account are used to purchase 10 fractional investment-grade and high-yield bonds. The 6.9% yield is the average annualized yield to maturity (YTM) across all ten bonds in the Bond Account, before fees, as of 8/23/2024. A bond's yield is a function of its market price, which can fluctuate, and a bond's YTM is “locked in” when the bond is purchased. Your yield at time of purchase may be different from the yield shown here. The “locked in” YTM is not guaranteed; you may receive less than the YTM of the bonds in the Bond Account if you sell any of the bonds before maturity, or if the issuer calls or defaults on the bond. While corporate bond yields should fall in reaction to a Federal Reserve rate cut, we cannot know whether that will be true of the bonds in the Bond Account, how quickly bond yields will respond, or how much they will decline. Public Investing charges a markup on each bond trade. Bond Accounts are not recommendations of individual bonds or default allocations. The bonds in the Bond Account have not been selected based on your needs or risk profile. Fractional Bonds also carry risks including liquidity risk, interest rate risk, credit risk, inflation risk, and potential tax liabilities. Read more about the risks associated with fixed income and fractional bonds and learn more about the Bond Account at https://public.com/disclosures/bond-account. Timestamps: 0:00 Intro and welcome back Dr. Art Laffer 1:06 Big picture macro view, a long period of economic senescence 5:13 Transfer theorem and the decline in growth rates 7:58 Upcoming election from an economics lens 11:30 Operation Warp Speed and Right To Try 15:25 A second-term Trump could unleash a Renaissance in America's economy 19:00 Five pillars of prosperity 24:17 Tariffs 28:30 Trade and geopolitics 33:30 Trade is not a political weapon 42:50 Government spending 50:00 RFK Jr. endorsing Trump is one of the most important events 53:55 A Harris presidency 57:20 Parting thoughts
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Today, we look at the source of power that has driven the Republican Party for the last five decades, and has shaped the policies, politics, and politicians who in turn shape our lives. Political scientist EJ Fagan's new book 'The Thinkers,' dives into the origins, methods, and extensive power that these institutions quietly wield. 01:07 The Power Behind the Throne 03:41 The Garbage Can Model in Policy Making 11:32 Heritage's Legacy and Modern Think Tanks 20:05 The Intellectual Orthodoxy of Conservatism 20:53 Nixon and Environmental Policies 21:58 The Laffer Curve and Alternative Facts 27:31 Think Tanks and Policy Influence 34:56 Funding and Influence of Think Tanks 38:09 Polarization and the Role of Think Tanks
This is a free preview of a paid episode. To hear more, visit andrewsullivan.substack.comGeorge writes a twice-weekly column on politics and foreign affairs for the Washington Post, a column he launched in 1974. He is also a regular contributor to MSNBC and NBC News. The author of 14 books, his latest is American Happiness and Discontents, but the one we primarily cover in this episode is The Conservative Sensibility — which I reviewed for the NYT.For two clips of our convo — on why the presidency has too much power, and the necessity of stopping Putin — pop over to our YouTube page. Other topics: growing up in Lincoln country; the son of a philosophy prof and an academic editor; Isaiah Berlin was a family friend; George and I both attending Magdalen College, Oxford; his meeting with Thatcher in late '60s; how socialism is stultifying; Oakeshott; industrial policy as crony capitalism “from the start”; Milton Friedman; why “secure” is the most important word in the Constitution; just war theory; Vietnam as the “professors' war”; collectivism vs national security; the trauma of 9/11 and the Iraq War; the China threat today; Gaza; why natcons are jealous of progressives; Elizabeth Warren; why Woodrow Wilson criticized the Founding as quaint; FDR and his fireside chats; in praise of Eisenhower; the spread of the administrative state; Caldwell's The Age of Entitlement; Reagan and the national debt; his bad wager on the Laffer Curve; the meaning of his smile; presentism; Hume at a dinner party; Madison's genius; George the “amiable low-voltage atheist”; Christian nationalism; evangelicals for Trump; the entitlement crunch with Boomers; “not voting is an opinion”; our disagreement on immigration; the “execrable” 1924 law; climate change as a low priority for Gen Z; why Trump is unprecedented; Biden's age and his “stupendous act of selfishness” in running again; Gina Raimondo; DEI as the new racial discrimination; the deep distrust in media; the flailing WaPo; “happiness is overrated”; the appeal of baseball; and the reasons why America is exceptional.Browse the Dishcast archive for an episode you might enjoy (the first 102 are free in their entirety — subscribe to get everything else). Coming up: Nellie Bowles on the woke revolution, Lionel Shriver on her new novel, Elizabeth Corey on Oakeshott, Tim Shipman on the UK elections, Erick Erickson on the left's spiritual crisis, Bill Wasik and Monica Murphy on animal cruelty, Van Jones, and Stephen Fry! Send any guest recs, dissents, and other comments to dish@andrewsullivan.com.
Hour 2: Sue brings you today's Sue's News on high-selling movie items, bees in a closet, and the Random Fact of the Day on "Hawaii Five-O"! Then, Adam Michel, director of Tax Policy Studies at the CATO Institute, joins Mark Reardon to discuss his latest article titled, "Top Tax Rates are Already on the Wrong Side of the Laffer Curve in at Least Ten States." Later, Frank Cusumano, KSDK Sports Director, hops on the line to explain why the Cardinals game tonight has been moved to tomorrow for a doubleheader, and more sports news!
Adam Michel, director of Tax Policy Studies at the CATO Institute, joins Mark Reardon to discuss his latest article titled, "Top Tax Rates are Already on the Wrong Side of the Laffer Curve in at Least Ten States."
Professor Tim Evans of Middlesex University discusses the report that higher-rate Scottish taxpayers have been heading south, explaining that it shows the truth of the Laffer Curve in action. He highlights the Basque Region's Mondragon Experiment which, in showing that there is a different way of running businesses, is effectively socialism without the state. Could it offer a future direction for the NHS? And he wonders how an increase in the UK's defence spending, announced by the Prime Minister, could work with so many other urgent calls on the public purse. Learn more about your ad choices. Visit podcastchoices.com/adchoices
In this episode, show host Gene Tunny engages with Dr Dan Mitchell in a frank discussion about the US's looming debt crisis. The conversation covers Dan's new book, co-authored with Les Rubin, The Greatest Ponzi Scheme on Earth: How the US Can Avoid Economic Collapse. In the episode, Dan talks about the unsustainable trajectory of federal debt, the consequences of government overspending, and the tough choices needed to avert economic disaster. Hear how Dan reacts to the Modern Monetary Theory view that debt and deficits aren't a problem. Please contact us with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored. About this episode's guest: Dr Dan MitchellDaniel J. Mitchell is a top expert on fiscal policy issues such as tax reform, the economic impact of government spending, and supply-side tax policy. Mitchell is a former senior fellow with The Cato Institute and The Heritage Foundation and served as an economist for Senator Bob Packwood and the Senate Finance Committee. His articles can be found in such publications as the Wall Street Journal, New York Times, Investor's Business Daily, and Washington Times. He is a frequent guest on radio and television and a popular speaker on the lecture circuit. Mitchell holds bachelor's and master's degrees in economics from the University of Georgia and a Ph.D. in economics from George Mason University. What's covered in EP235Introduction. (0:00)US government debt and entitlement programs. (4:48)Government spending and its impact on the economy. (9:05)US government spending, Social Security, and fiscal policy. (14:06)US retirement systems and entitlement programs. (18:32)Medicare reform and the federal budget. (24:05)US budget deficits and entitlement programs. (27:59)Taxes, spending, and economic growth. (33:01)Kyle Kulinksi clip. (38:11)Dan responds to Monetary Monetary Theory (41:00).Entitlement programs and government spending. (44:40)TakeawaysThe US federal debt is soaring, with projections showing a large increase in the debt-to-GDP ratio in the coming decades.Government spending, particularly on entitlement programs, is the primary driver of fiscal imbalance.Addressing the debt crisis requires significant policy changes, including reforming entitlement programs like Social Security and, to a lesser extent, Medicare and Medicaid.Reforming Social Security through personal retirement accounts could save trillions over the long run.Lessons from other countries show that fiscal discipline and restructuring can improve economic stability.Links relevant to the conversationThe Greatest Ponzi Scheme on Earth: How the US Can Avoid Economic Collapse: https://www.amazon.com.au/Greatest-Ponzi-Scheme-Earth-Economic/dp/1637632770 Dan's bio: https://mises.org/profile/daniel-j-mitchellDan's International Liberty blog: https://danieljmitchell.wordpress.com/Dan's post “OECD Economic Research Finds that Government Spending Harms Growth”: https://danieljmitchell.wordpress.com/2016/11/28/oecd-economic-research-finds-that-government-spending-harms-growth/Dan's post “The IMF, The Laffer Curve, And Supply-Side Economics”: https://freedomandprosperity.org/2022/blog/the-imf-the-laffer-curve-and-supply-side-economics/Lumo Coffee promotionLumo Coffee Discount: Visit Lumo Coffee (lumocoffee.com) and use code EXPLORED20 for a 20% discount until April 30, 2024.Thanks to Obsidian Productions for mixing the episode and to the show's sponsor, Gene's consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.
Dr. Art Laffer, one of the most influential economists of the past half-century, joins Julia La Roche for episode 154. Dr. Laffer is the founder and chairman of Laffer Associates, an economic research and consulting firm. Known as the "Father of Supply Economics," he is famous for developing the Laffer Curve, a representation of the relationship between tax rates and tax revenue that was foundational to supply-side economics. Dr. Laffer served as a member of President Reagan's Economic Policy Advisory Board for both of Reagan's terms. In our wide-ranging discussion, Dr. Laffer shares his insights on the current state of the U.S. and global economy, fiscal and monetary policy, and his outlook for the future. Links: https://www.amazon.com/Taxes-Have-Consequences-Income-History/dp/1637585640 Timestamps: 00:00 Introduction and Overview 01:08 The Five Pillars of Prosperity 11:13 Factors Leading to the Current Situation 26:08 Addressing Incentives in Politics 30:41 The Flawed Logic of Stimulus Spending 35:17 The Fallacy of Redistribution 37:38 The Impact of Tariffs and Trade Policies 38:04 The Lack of Economic Understanding Among Professional Economists 39:02 The Laffer Curve and Tax Rates 40:19 The Role of Private Money in the Economy 44:34 The Possibility of a Low, Broad-Based Flat Tax Rate 50:25 The Failure of Government-Controlled Money 54:30 Assessment of the Federal Reserve and Monetary Policy 57:23 The Importance of Economic Principles over Political Labels 01:01:50 Future Topics: Medical Transparency, Debt, Enterprise Zones, and Climate Change
Discover the fascinating history behind the influential Laffer curve with the renowned economist #ArthurLaffer. This curve played a pivotal role in the Reagan revolution, transforming global economics. Dive into the concept that excess taxation can hinder government revenue, unraveling the counterintuitive nature of economics. Join the Empowered Investor Cruise for exclusive insights from experts and gain strategies for wealth building. Don't miss the chance to explore this captivating journey and register at https://empoweredinvestorlive.com/ And today's conversation is between Jason and Arthur Laffer which covers a range of topics related to taxation and economics. They begin by discussing Arthur's Laffer curve concept, which explores the relationship between tax rates and tax revenues. They also examine the impact of tax policies on different groups in society and the economy. The discussion then shifted to the effects of tax policies on property markets, using California's Prop 13 as an example. Finally, they discuss the political career of former President Reagan, highlighting his leadership style and adaptability. Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class: Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com
Episode 85 is with Dr. Adam Michel, director of tax policy studies at the Cato Institute. Today, we discuss: 1) Problems with OECD and global taxes; 2) Tax cliff coming in 2025 from many expiring TCJA provisions; and 3) Why a fiscal crisis without major spending reforms, how taxes influence human behavior, the truth about The Laffer Curve, and much more. Please share this on social media, and provide a rating and review. Thanks! Also, subscribe and see show notes for this episode on Substack (www.vanceginn.substack.com) and visit my website for economic insights (www.vanceginn.com).
Discover the fascinating history behind the influential Laffer curve with the renowned economist #ArthurLaffer. This curve played a pivotal role in the Reagan revolution, transforming global economics. Dive into the concept that excess taxation can hinder government revenue, unraveling the counterintuitive nature of economics. Join the Empowered Investor Cruise for exclusive insights from experts and gain strategies for wealth building. Don't miss the chance to explore this captivating journey and register at https://empoweredinvestorlive.com/ And today's conversation is between Jason and Arthur Laffer which covers a range of topics related to taxation and economics. They begin by discussing Arthur's Laffer curve concept, which explores the relationship between tax rates and tax revenues. They also examine the impact of tax policies on different groups in society and the economy. The discussion then shifted to the effects of tax policies on property markets, using California's Prop 13 as an example. Finally, they discuss the political career of former President Reagan, highlighting his leadership style and adaptability. Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class: Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com
Discover the fascinating history behind the influential Laffer curve with the renowned economist #ArthurLaffer. This curve played a pivotal role in the Reagan revolution, transforming global economics. Dive into the concept that excess taxation can hinder government revenue, unraveling the counterintuitive nature of economics. Join the Empowered Investor Cruise for exclusive insights from experts and gain strategies for wealth building. Don't miss the chance to explore this captivating journey and register at https://empoweredinvestorlive.com/ And today's conversation is between Jason and Arthur Laffer which covers a range of topics related to taxation and economics. They begin by discussing Arthur's Laffer curve concept, which explores the relationship between tax rates and tax revenues. They also examine the impact of tax policies on different groups in society and the economy. The discussion then shifted to the effects of tax policies on property markets, using California's Prop 13 as an example. Finally, they discuss the political career of former President Reagan, highlighting his leadership style and adaptability. Key Takeaways: Jason's editorial 1:34 Welcome Arthur Laffer 2:22 Guess how old Jason is in this picture with Arthur 3:08 The "Laffer Curve" on a napkin 4:07 Join the cruise! Sigh up at https://empoweredinvestorlive.com/ Arthur Laffer interview 5:27 What is the Laffer curve? 9:15 Is there an optimum tax rate? 10:42 Balancing economic activity and productivity 11:43 Where we are today and where we're going 13:03 How long does the Laffer Curve work it's way into the economy 15:04 Howard Jarvis and Prop 13 17:07 Reaganomics 19:13 What the future looks like Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class: Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com
Martín Litwak—an Argentine tax and wealth structuring expert—explains that the next three months are key to the Javier Milei administration for implementation of liberal reforms. Milei is enjoying a honeymoon period, and Argentines are on their summer vacations. Although Litwak expressed his excitement regarding a liberal government to be in power in Argentina and deregulate the economy, he is concerned the Milei administration has not led with tax cuts. Litwak contends that although Argentina has 170 taxes, 10 of them generate more than 92 percent of the state's revenue. Further, since the burden is so high there is the potential to remove the other 160 and still bring in more revenue, following the logic of the Laffer Curve. For Litwak, Milei's presidency can be either a total success or a complete failure; there is no middle ground. The latter will be a disaster for Argentina, since it will invite a return to power of Peronismo. Litwak also contends that the left will continue to fight in the streets against the incumbent administration's policies. Show notes: https://impunityobserver.com/2024/01/15/martin-litwak-javier-milei-must-target-toxic-taxation/
Global economies are in trouble. A number of factors and philosophies have contributed to the downturn, and the author of "The Laffer Curve" has answers. Former economic advisor in the Reagan administration and author of the book "Taxes Have Consequences," Arthur Laffer provides analysis in a visit with Tripp Scott CEO Ed Pozzuoli. Copyright© 2023 TRIPP SCOTT ALL RIGHTS RESERVED
In a democracy, every vote should be equal. But in India, that's not the case. Shruti Rajagopalan joins Amit Varma in episode 336 of The Seen and the Unseen to give a detailed primer into the complex issue of Delimitation -- and to suggest her own radical solution. (FOR FULL LINKED SHOW NOTES, GO TO SEENUNSEEN.IN.) Also check out: 1. Shruti Rajagopalan on Twitter, Substack, Instagram and her podcast, Ideas of India. 2. Demography, Delimitation, and Democracy -- Shruti Rajagopalan's detailed post on Delimitation. 3. Episodes of The Seen and the Unseen w Shruti Rajagopalan, in reverse chronological order: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17. 4. India's Emerging Crisis of Representation -- Milan Vaishnav and Jamie Hintson. 5. Of Openings and Possibilities -- Pranay Kotasthane on Delimitation. 6. South India Would Like to Have a Word — Episode 320 of The Seen and the Unseen (w Nilakantan RS). 7. Jayaprakash Narayan Wants to Mend Our Democracy -- Episode 334 of The Seen and the Unseen (w Jayaprakash Narayan). 8. The Life and Times of Shanta Gokhale — Episode 311 of The Seen and the Unseen. 9. The Life and Times of Jerry Pinto — Episode 314 of The Seen and the Unseen. 10. Amit Varma on the Creator Economy -- A recent episode of the Ideas of India podcast. 11. Gurwinder Bhogal Examines Human Nature -- Episode 331 of The Seen and the Unseen. 12. The Prism -- Gurwinder Bhogal's Substack newsletter. 13. Public Choice Theory — Episode 121 of The Seen and the Unseen. 14. Public Choice: A Primer — Eomonn Butler. 15. Public Choice -- Politics Without Romance -- James M Buchanan. 16. Politics Without Romance -- Amit Varma's column archives for Bloomberg Quint. 17. David Hume on Britannica, Wikipedia and Stanford Encyclopedia of Philosophy. 18. Adam Smith on Britannica, Wikipedia and Amazon. 19. James M Buchanan on Britannica, Wikipedia, Econlib and Amazon. 20. Gordon Tullock on Wikipedia, Econlib, Mercatus and Amazon. 21. The Calculus of Consent — James M Buchanan and Gordon Tullock. 22. Democracy in Deficit -- James M Buchanan and Richard E Wagner. 23. Shruti Rajagopalan on our constitutional amendments. 24. Subhashish Bhadra on Our Dysfunctional State -- Episode 33 of The Seen and the Unseen. 25. Caged Tiger: How Too Much Government Is Holding Indians Back — Subhashish Bhadra. 26. Where Have All The Leaders Gone? -- Amit Varma. 27. The Political Theory of a Compound Republic -- Vincent Ostrom. 28. Urban Governance in India — Episode 31 of The Seen and the Unseen (w Shruti Rajagopalan). 29. India's Greatest Civil Servant — Episode 167 of The Seen and the Unseen (w Narayani Basu, on VP Menon). 30. Great Soul -- Joseph Lelyveld. 31. Understanding Gandhi. Part 1: Mohandas — Episode 104 of The Seen and the Unseen (w Ram Guha). 32. Understanding Gandhi. Part 2: Mahatma — Episode 105 of The Seen and the Unseen (w Ram Guha). 33. Population Is Not a Problem, but Our Greatest Strength — Amit Varma. 34. A Life in Indian Politics — Episode 149 of The Seen and the Unseen (w Jayaprakash Narayan). 35. The First Assault on Our Constitution — Episode 194 of The Seen and the Unseen (w Tripurdaman Singh). 36. Nehru's Debates — Episode 262 of The Seen and the Unseen (w Tripurdaman Singh and Adeel Hussain.) 37. Coalition Politics and Economic Development -- Irfan Nooruddin. 38. The Laffer Curve. 39. The Anti-Defection Law — Episode 13 of The Seen and the Unseen (w Barun Mitra). 40. Our Parliament and Our Democracy — Episode 253 of The Seen and the Unseen (w MR Madhavan). 41. The Four Quadrants of Conformism — Paul Graham. 42. ‘Let Me Interrupt Your Expertise With My Confidence' — New Yorker cartoon by Jason Adam Katzenstein. 43. Eppur si muove. 44. Jagdish Bhagwati's co-written defence of demonetisation, and Shruti Rajagopalan's co-written rebuttal. This episode is sponsored by CTQ Compounds. Check out The Daily Reader and FutureStack. Use the code UNSEEN for Rs 2500 off. Amit Varma and Ajay Shah have launched a new video podcast. Check out Everything is Everything on YouTube. Check out Amit's online course, The Art of Clear Writing. And subscribe to The India Uncut Newsletter. It's free! Episode art: ‘Figure it Out' by Simahina.
According to Dr. Arthur Laffer, since 1913, when the United States first imposed the income tax via constitutional amendment, the top rate of that tax has determined the fate of the American economy. When the top rate has been high, as in the late 1910s, the 1930s, 1940s, 1950s, and 1970s, the response of those with money and capital has been to curtail real economic activity in favor of protecting assets and income streams. Huge declines have come to the economy in these circumstances. On today's podcast, ARK CEO, CIO and Founder Cathie Wood is again joined by Dr. Arthur Laffer, a famed economist, well-known for his creation of “The Laffer Curve,” so Dr. Laffer and Cathie can discuss Laffer's book, Taxes Have Consequences, in which Dr. Laffer provides a history of taxes and their impact on the United States economy. Dr. Laffer explains why he believes that a low rate broad-based flat tax, spending restraint, sound money, minimal regulations, and free trade are the answers to most of our economic problems. “Low rate broad-based flat tax, spending restraint, sound money, minimal regulations, and free trade, and then get the hell out of the way and let markets solve it.” — Arthur Laffer Key Points From This Episode: An overview of Arthur Laffer's new book, Taxes Have Consequences. How the government finances taxation. A history of income tax since 1913. Defining characteristics of the Roaring Twenties. The market collapse that occurred in 1929. Similarities between the environment in 1929 and today. How Art would structure the American tax system if he could. Why stimulus spending hurts the economy. Art's thoughts on regulation. Why Art is a strong proponent of developing free trade agreements with countries that the US currently has issues with. What makes America different from the rest of the world. The correlation between tax hikes and economic performance. Why everyone benefits in a low rate broad-based flat tax system. The role of taxes in the Great Depression. Factors that Art attributes the high inflation levels to. The importance of acting fast when it comes to changing policies around taxes. How the pandemic has accelerated the migration to low tax states. Interesting statistics about states like Texas, Florida and Tennessee. Art's thoughts on how to address poverty in the United States.
Today, Paul is honored to welcome Art Laffer to The Investor Coaching Show. Dr. Laffer served as economic advisor to both Ronald Reagan and Margaret Thatcher and is a Presidential Medal of Freedom recipient. He is an economist, educator, and author of the book Taxes Have Consequences. In this part of their interview, Paul askes Dr. Laffer about the origin story of “The Laffer Curve,” the IRS, and his involvement in political and economic history. Get a copy of our new book, Confident Financial Planning, at paulwinkler.com/book.
For this episode of "Making Movies Great Again," Sebastian and Chris Kohls review "Ferris Bueller's Day Off," explaining why it is such a quintessential teen movie, a loving tribute to Chicago, and why it still holds up so well nearly 40 years later.Support the show: https://www.sebgorka.com/See omnystudio.com/listener for privacy information.
Here at CapX we love an unfashionable cause – and in a cost of living crisis, few demographics are less popular than those who seem to be struggling less.But we're also fans of basic economic concepts, and with the tax burden the highest it's been since the era of state socialism under Attlee, the Laffer Curve inevitably comes to mind. Because while calls to ‘tax the rich' may be popular, if it means less money for public services, they will ultimately prove counterproductive.And it's not just about Treasury revenues. The only way we'll get out of the hole we're in is by growing the economy and that means enabling businesses to thrive, to generate profits and – in the end – to make some people wealthy.To discuss whether the Government and society at large are doing enough to incentivise wealth creation, we were delighted to welcome broadcaster and commentator Emily Carver, Martin Vander Weyer, Business Editor at The Spectator, Merryn Somerset Webb, Senior Columnist at Bloomberg and entrepreneur Luke Johnson –founder and partner at Risk Capital Partners and chairman of Gail's bakeries among other businesses.This fascinating conversation ranged from the deep cultural roots of Britain's distaste for the dirty business of making money, the moral obligations of the wealthy, to working out who really counts as 'rich'. Hosted on Acast. See acast.com/privacy for more information.
On this episode of For Your Innovation, we wanted to highlight last week's special edition of “In the Know,” a monthly video series featuring ARK CEO/CIO, Cathie Wood. In this special episode, Cathie is joined by her mentor, former professor, and advisor to ARK Investment Management LLC, Dr. Art Laffer. Famous for the Laffer Curve, Art is an economist and was named one of Time's Greatest Minds of the 20th Century. Together, Cathie and Art dive into the recent banking crisis and the world of cryptoassets. We hope you find this monthly series useful, especially during periods of heightened volatility. Stay Healthy. Stay Innovative. “It's not up to congress to allow or not allow crypto. It shouldn't be.” – Dr. Art Laffer Episode Timestamps 1:45 – Intro 2:31 – Banking Crisis 35:30 – Crypto
On today's episode of the "Let People Prosper" show, which was recorded on March 6, 2023, I'm honored to be joined by Dr. Arthur Laffer, legendary economist and 2019 recipient of the Presidential Medal of Freedom. We discuss: 1) How raising income taxes disincentivizes work and productivity, slows growth, lowers tax collections (the Laffer Curve), and more from his new book Taxes Have Consequences; 2) Why intellectual honesty in economics is essential no matter the politics; 3) What went into the economic policy decisions inside the White House with Nixon, Reagan, Clinton, Trump, and more. For thoughtful economic insights, media interviews, speeches, blog posts, research, and more at my website: https://www.vanceginn.com/. Please rate with 5 stars and subscribe to the Let People Prosper Show if you enjoyed this episode. And be sure to check out the other episodes.
The Laffer Curve – Hillsdale Course Trailer America's economic prosperity is threatened by bad economic policies that have been shown to fail. In this teaching series, distinguished economist Arthur Laffer—famous for the “Laffer Curve” and for advising President Ronald Reagan—answers fundamental questions about taxation, regulation, money, government spending, and trade. Joined by Steve Forbes, Stephen Moore, Larry Kudlow, Amity Shlaes, Dr. Brian Domitrovic, and Larry P. Arnn, Dr. Laffer explains how supply-side economics holds the key to unleash American prosperity once again. Supply-Side Economics and American Prosperity | Official Trailer - YouTube Art Laffer on Re-Distribution – Hillsdale Course Trailer In this Highlight from Hillsdale College's FREE online course, “Supply-Side Economics and American Prosperity with Arthur Laffer,” Dr. Laffer explains how redistribution fails in its aim to increase the income of the poor, and instead reduces everyone's income in the long-term. Enroll today in this FREE online course to learn more about supply-side economics and how we can unleash economic prosperity in America once again. The Redistribution Fallacy | Highlights Ep. 48 - YouTube --- Send in a voice message: https://podcasters.spotify.com/pod/show/seth-martin0/message
In the wake of a devastating earthquake in Turkey and Syria, Andrew Mitchell, Minister of State in the Foreign, Commonwealth & Development Office, joins Nick to explain exactly what aid is needed and how we can get it out there. PLUS ahead of the sentencing of former met police officer and serial rapist David Carrick, Nick asks: what would it take to restore your faith in the met.
The ”I hung up on Warren Buffett” Podcast by Wolfpack Research
This week The Pack is joined by Dr. Art Laffer. (on Twitter @LafferCenter) His economic acumen and influence in triggering a worldwide tax-cutting movement in the 1980s earned him the distinction in many publications as “The Father of Supply-Side Economics.” The Laffer Curve is one of the primary theoretical constructs of supply-side economics, illustrating the tradeoff between tax rates and actual tax revenues. We talk about politics, Taxes - his new book Taxes Have Consequences. Why Michigan sits above Ohio and more. Dr. Laffer tells stories from the past and how it relates to where we are now. Sit back have a drink and call the accountant. Links Taxes Have Consequences: An Income Tax History of the United States https://laffercenter.org/ https://twitter.com/LafferCenter
446 On this week's interview Paul talks to Brian Domitrovic a scholar with the Laffer Institute about his new book, "Taxes Have Consequences: the definitive history of the income tax on the economy." Paul and Brian talk about Arthur Laffer and the basics of the Laffer Curve. They move on to a history of the income tax in the United States and how various presidents (and congresses) either improved or destroyed the American economy through their various income taxation policies. We also discuss how states can and should improve their own economic situations by completely eliminating income taxation.
Jason is in love with the ORRRRANGE on his new Apple Watch Ultra, Andrew is enjoying a cappuccino (but has trouble spelling it) and Martin gets into mirrorless! Coaster Corner 00:00:00 Who doesn't want a Feld Coaster!?
But because a US recession is ‘declared' rather than measured, a soft-ish landing might break the bond market's most beloved model. Also - the Laffer Curve doesn't work.
Scott and Jeff discuss the effect of taxes on the economy with Professor Arthur Laffer, for whom the Laffer Curve is named. The Laffer Curve shows the likely relationship between tax rates and tax revenue. We hear the famous story of drawing the curve on a napkin. We ask Professor Laffer about the Laffer Curve, we get his opinion on the revenue maximizing tax rate, and his opinion on the effect of tax rates on revenue raised.
‘Due to our low tax policy . . . revenue has increased.'John James Cowperthwaite, Hong Kong Financial Secretary, 1961-71Fourteenth-century Tunisian, Ibn Khaldun, is probably the greatest philosopher of the Islamic Golden Age. In his magnum opus, The Muqaddimah, he wrote: ‘In the early stages of an empire, taxes are light in their incidence, but fetch in large revenue. As time passes and kings succeed each other, they lose their tribal habits in favour of more civilised ones. Their needs and exigencies grow . . . owing to the luxury in which they have been brought up. Hence they impose fresh taxes on their subjects . . . and sharply raise the rate of old taxes to increase their yield . . . But the effects on business of this rise in taxation make themselves felt. For businessmen are soon discouraged by the comparison of their profits with the burden of their taxes . . . Consequently, production falls off, and with it the yield of taxation.' Never mind his own Islam, he might have been describing Rome or Greece before, or Britain or the US after. Low taxation and small government accompany the ascent of great civilisations, high taxation and big government their demise.It may be counter-intuitive, but it is an observation that goes back centuries. Low tax rates often bring in greater revenue, while higher tax rates bring in less.Khaldun was not the first to make this observation. It was the guiding philosophy of the fourth caliph, Ali. Take great care, he instructed his governors, ‘to ensure the prosperity of those who pay taxes. The proper upkeep of the land in cultivation is of greater importance than the collection of revenue for revenue cannot be derived unless the land is productive.' If conditions are bad, then suspend taxes, he advised. “Do not mind the loss of revenue on that account, for that will return to you one day manifold in the hour of greater prosperity of the land and enable you to improve the condition of your towns and to raise the prestige of your state.”Hong Kong's John James Cowperthwaite acted by the same philosophy and would always push for the low- or no-tax option. Eventually, ‘funds left in the hands of the public will come into the Exchequer', he said, but ‘with interest'.In 1924, US Secretary of the Treasury Andrew Mellon wrote, ‘It seems difficult for some to understand that high rates of taxation do not necessarily mean large revenue to the government, and that more revenue may often be obtained by lower rates.'But perhaps the most famous proponent of this argument was the American economist Arthur Laffer.In 1974, Laffer was having dinner in Washington DC with two of (recently impeached) President Richard Nixon's former advisers, Dick Cheney and Donald Rumsfeld, as well as a writer for the Wall Street Journal by the name of Jude Wanniski. Laffer was arguing that the incumbent president Gerald Ford's recent tax increases were flawed and would not lead to increased government revenue. To illustrate his argument, so the story goes, he drew a curve on a napkin showing the relationship between tax rates and revenue. At very low rates of tax, government revenue is low; but it is also low at high rates (because the economy is weaker, profits are down, earnings are down, evasion is higher and so on), so the curve is bell-shaped. The top of the bell is the point of maximum revenue – that is, the sweet spot at which to place tax rates if your goal is to maximise government revenue. Laffer's argument caught the imagination of those present; Wanniski would later dub it ‘the Laffer Curve', even though Laffer later stressed, ‘The Laffer Curve, by the way, was not invented by me,' and mentioned many others, from Keynes to Khaldun, who had observed the same phenomenon (perhaps we should call it the Fourth Caliph Curve). As President J. F. Kennedy once said, ‘It is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenues in the long run is to cut the tax rates.' It is a lesson that mankind continually seems to forget, and one that continually needs re-teaching. Hence today's post.(That was an adapted extract from Daylight Robbery, How Tax Shaped our Past and Will Change our Future). This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe
‘Due to our low tax policy . . . revenue has increased.'John James Cowperthwaite, Hong Kong Financial Secretary, 1961-71Fourteenth-century Tunisian, Ibn Khaldun, is probably the greatest philosopher of the Islamic Golden Age. In his magnum opus, The Muqaddimah, he wrote: ‘In the early stages of an empire, taxes are light in their incidence, but fetch in large revenue. As time passes and kings succeed each other, they lose their tribal habits in favour of more civilised ones. Their needs and exigencies grow . . . owing to the luxury in which they have been brought up. Hence they impose fresh taxes on their subjects . . . and sharply raise the rate of old taxes to increase their yield . . . But the effects on business of this rise in taxation make themselves felt. For businessmen are soon discouraged by the comparison of their profits with the burden of their taxes . . . Consequently, production falls off, and with it the yield of taxation.' Never mind his own Islam, he might have been describing Rome or Greece before, or Britain or the US after. Low taxation and small government accompany the ascent of great civilisations, high taxation and big government their demise.It may be counter-intuitive, but it is an observation that goes back centuries. Low tax rates often bring in greater revenue, while higher tax rates bring in less.Khaldun was not the first to make this observation. It was the guiding philosophy of the fourth caliph, Ali. Take great care, he instructed his governors, ‘to ensure the prosperity of those who pay taxes. The proper upkeep of the land in cultivation is of greater importance than the collection of revenue for revenue cannot be derived unless the land is productive.' If conditions are bad, then suspend taxes, he advised. “Do not mind the loss of revenue on that account, for that will return to you one day manifold in the hour of greater prosperity of the land and enable you to improve the condition of your towns and to raise the prestige of your state.”Hong Kong's John James Cowperthwaite acted by the same philosophy and would always push for the low- or no-tax option. Eventually, ‘funds left in the hands of the public will come into the Exchequer', he said, but ‘with interest'.In 1924, US Secretary of the Treasury Andrew Mellon wrote, ‘It seems difficult for some to understand that high rates of taxation do not necessarily mean large revenue to the government, and that more revenue may often be obtained by lower rates.'But perhaps the most famous proponent of this argument was the American economist Arthur Laffer.In 1974, Laffer was having dinner in Washington DC with two of (recently impeached) President Richard Nixon's former advisers, Dick Cheney and Donald Rumsfeld, as well as a writer for the Wall Street Journal by the name of Jude Wanniski. Laffer was arguing that the incumbent president Gerald Ford's recent tax increases were flawed and would not lead to increased government revenue. To illustrate his argument, so the story goes, he drew a curve on a napkin showing the relationship between tax rates and revenue. At very low rates of tax, government revenue is low; but it is also low at high rates (because the economy is weaker, profits are down, earnings are down, evasion is higher and so on), so the curve is bell-shaped. The top of the bell is the point of maximum revenue – that is, the sweet spot at which to place tax rates if your goal is to maximise government revenue. Laffer's argument caught the imagination of those present; Wanniski would later dub it ‘the Laffer Curve', even though Laffer later stressed, ‘The Laffer Curve, by the way, was not invented by me,' and mentioned many others, from Keynes to Khaldun, who had observed the same phenomenon (perhaps we should call it the Fourth Caliph Curve). As President J. F. Kennedy once said, ‘It is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenues in the long run is to cut the tax rates.' It is a lesson that mankind continually seems to forget, and one that continually needs re-teaching. Hence today's post.(That was an adapted extract from Daylight Robbery, How Tax Shaped our Past and Will Change our Future). This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit frisby.substack.com/subscribe
HANK REARDEN and JIM PETERS discuss the Laffer Curve, the "Potemkin government", and why the f*ck Johnny Depp is on Fox News 24/7....
Dust off your calculators, because beloved economic policy wonk Brian Riedl is back on The Remnant to discuss everything you've ever wanted to know about the federal budget, spending, taxes, and deficits. He also touches on the right's curious lurch toward industrial policy and common good capitalism, and why conservatives and progressives alike can't resist the prospect of a free lunch. Is the Laffer Curve a force for evil? How progressive is the U.S. tax code? And why is Joe Biden so determined to outspend Mack the Knife? Show Notes: -Brian's page at the Manhattan Institute -Brian's previous Remnant appearance -Brian's latest chart book -Simpson-Bowles and the art of budget negotiations -Brian in The Dispatch on taxing the rich -How does the U.S. tax code compare with other countries? -The great Nordic myth -Jack Kemp and tax reform -Al Gore and class warfare See omnystudio.com/listener for privacy information.
Dr. Arthur Laffer has dedicated his life to serving the American people. His economic research and development of the Laffer Curve led him to work with President Reagan and President Trump. Dr. Laffer joins Senator Blackburn to detail the story leading up to his work with President Reagan, the motivation behind his groundbreaking discoveries and his beliefs to help the American people move forward.
In the National Museum of American History in Washington D.C. rests the Laffer Curve or, more precisely, the napkin upon which Dr. Arthur Laffer drew his theory on taxation and government revenue for Dick Cheney and Donald Rumsfeld. He has been instrumental in shaping economic policy for a half-century, and has attracted the predictable detractors in the process. His pragmatism, good-humor and firm grasp of incentives, and their role in public policy and governance, is insightful, refreshing, and transcends political ideology. We discuss his career, theories, and outlook in this first of our 2-part conversation.
Economist Art Laffer is best known for the "Laffer Curve," an illustration of the theory that there exists a tax rate between 0% and 100% that will result in maximum tax revenue for governments. Thanks to his work as a member of President Reagan’s Economic Policy Advisory Board, thefounder and chairman of Laffer Associates has been called the “Father of Supply Side Economics.” He is also the co-author of the 2018 book "Trumponomics: Inside the America First Policy to Revive our Economy" as well as "The End of Prosperity" and "The Return to Prosperity."
The quote ‘I Hate paying taxes but I love the Civilization they give me' aptly describes our thinking. Increasing tax rates have always been a demotivating factor to the working population. Want to know how? Listen to this episode where we talk about the Laffer Curve.
This is the latest in my series of podcasts explaining how economics works in the credit crunch and now virus pandemic era. This week I give my thoughts on will bank share prices benefit from interest-rate rises? Also if we get tax rises will the Laffer Curve be in play?
Episode 3: Host, Jim Ray interviews Dr. Raymond and Carl Hafele on the state of the US economy and issues to consider as we move forward. Join us for a lively discussion about inflation, economic growth, tax policy, the Federal Reserve and more. Dr. Frank Raymond is a professor of economics at BU. Over the past 20 years, he's been the interim Dean and the associate Dean for the Rubel school of Business. He focuses on international development, econometrics and macro-economics. Carl Hafele began teaching at BU 15 years ago. He's an investment money manager. He had an institutional firm responsible for managing over $20 Billion in assets. He's now focused on personal investing and instructing as part of the Bellarmine MBA program. In 2009, the economy experienced the real estate bust and many banks were failing. The Fed injected liquidity via mortgage-backed securities. The banks sat on a large portion of the liquidity. In Episode 2, Stock Yards Bank & Trust CEO Ja Hillebrand commented on the fact that today many of the companies have fairly healthy balance sheets, in spite of the pandemic. The economy of 2020 is, in Carl's words, a different animal compared to the 2009 crisis. This is the “rainy day.” The solution should involve a mix of fiscal and monetary policy. Who Has the Responsibility? We began with a brief review of the Laffer Curve and taxes. The question at large is “Are we at the inflection point where investors/entrepreneurs stop investing because of the tax on the margin dollar of the returns of that investment?” Tax rates can actually serve as a disincentive. So, where is the peak of the curve? It's a balance of achieving maximum productivity, while generating maximum tax revenue for the government. The private sector has a role. Thinking of these policies at the household or company level can help to simplify the theory. Do you want to work that extra overtime? Is it worth the effort to start a side job? Is this the proper time for a company to expand operations or sales teams? The public sector also has a role. There are parts of the economy in which the market doesn't function as efficiently. The determination of which parts are best served by the public sector is an area of open debate. There are 4 Areas Where the Private Sector Doesn't Do as Well Lack of competition among firms. When there are information problems (i.e. asymmetric information). When an external party is receiving a benefit or harm, but isn't directly involved. Dealing with Public Goods (non-rival and non-excludable) Should We be Worried about Inflation? Carl discusses the velocity of money. Simply put, “money times velocity equals GDP.” A rising velocity is generally associated with a better economy. For the majority of Carl's life, the velocity has been roughly 1.7 times. It reached as high as 2.25, prior to 1995. Prior to the pandemic, we were in the 1.3-1.4 range. Once the pandemic set in, we settled at 1.0. Based on this, Carl predicts that regardless of the amount of money the Fed prints, inflation shouldn't be a factor at these low-velocity levels. What Should the Government Do, Now? Frank suggests we should consider raising interest rates, once we recover from the COVID pandemic. This is also absolutely not the time to consider raising taxes. Either of those moves in the current scenario could slow or eliminate positive economic activity. The risk is that the economy could be in the midst of suffering a “death by 1,000 cuts.” As the national debt grows, it could potentially prevent us from being able to generate tax revenue as a result of economic activity. Growth rates could be negatively impacted due to the national debt service. Interest rates have been extremely low. How much lower could it go in an effort to spur economic activity? The fact is monetary policy may not have as immediate of an impact in this effort. There are 3 Kinds of Inflation CPI – the cost for a basket of goods. Monetary inflation – based on the Fed's balance sheet. Inflation in Asset Prices – this can be a limiting factor for the economy and ROI. Simplify Tax Policy Over the years, our tax policy has become extremely complex. It's become both uncertain and inequitable. It may be time to aggressively simplify. This would include the elimination of loopholes. Businesses want certainty. The cumbersome tax policy, combined with politics, leads to a level of uncertainty and unpredictability. Today, our individual states independently set state and local taxes. In recent years, there's been an accelerated move by businesses and individuals flocking to lower tax states. As some states look at increasing taxes as a way to replenish lost economic activity-base revenues, they are risking a flight of Adjusted Gross Income (AGI) from their tax base. Parting Words It looks like 2-3 new vaccines may be hitting the market. Even if it takes months to disperse them, this is a positive for the overall economy. There's a risk that a new stimulus package could limit short-term growth if the incentives for the unemployed act as a disincentive to return to work. We seem to be moving in the right directions to avoid a depression. Now, we need to avoid actions by the government that don't actually have a lasting, positive impact. Frank described the 4 ways to generate grow (primarily via the private sector): land, labor, physical- and human-capital. Government may decide to invest in certain areas, but it ultimately needs to be driven by the private sector. For additional insights, consider Carl's reading book The Great American Reset, Riding the Economic Rollercoaster of Capitalism (published 2014). Disclaimer: The views and opinions expressed during the Bellarmine on Business podcast do not necessarily reflect those of Bellarmine University, its administration or the faculty at large. The episodes are designed to be insightful, thought-provoking and entertaining. THE MONTHLY FORECAST: Upcoming Events 12/15/20 – Accounting Department's Annual CPE Seminar (8.0 hours). Click here for more information and to register. Bellarmine Bookstore – There's still time to stock up on Bellarmine swag for Christmas. Click this link for more information, available items and to order online. Tell them you heard about this on the Bellarmine on Business Podcast! Bellarmine Basket Ball Moving to Freedom Hall – As part of the transition to Division 1, the Bellarmine Knights are now playing in the iconic Freedom Hall. Click here for more information about this exciting transition. On the next Bellarmine on Business Podcast Episode Episode 4 will launch on in early January. Dr. Natasha Munshi returns to the podcast with a guest or two to update us on some of the Rubel School of Business initiatives she mentioned in Episode 1 of the Bellarmine on Business Podcast. Want to Listen to Additional Episodes? You can find additional episodes on the Rubel School of Business Podcast page of the Bellarmine website, various Bellarmine social media pages, Apple Podcasts, Google Podcasts, Spotify, Libsyn, Podchaser and many other podcast directories. We encourage you to subscribe to our podcast so you don't miss an episode. Interested in Developing a Podcast for Your Business or Organization? This podcast was produced by Jim Ray Consulting Services. Jim Ray, host of the Bellarmine on Business podcast, can help you with the concept development, implementation, production and distribution of your own podcast. For more information, visit: https://jimrayconsultingservices.com/podcastproduction.
Economic Key Element #1 of 12 – Incentives Matter I recently interviewed Professor Joseph Calhoun, Economics Professor for Florida State University and co-author of the Third Edition of “Common Sense Economics, What Everyone Should Know About Wealth and Prosperity.” In this interview we talk about key element #1, Incentives Matter – Changes in benefits and costs will influence choices in a predictable manner.There are similarities between the Incentives Matter concept to the Laffer Curve, an economics theory developed by Arthur Laffer. The simple description of the Laffer Curve is that reducing tax rates will increase total tax revenue … meaning Americans will work and earn more if taxes are lower than they would at a higher tax rate.Here is a quote from Common Sense Economics, “Changes in incentives influence everyone’s choices, regardless of the mix of greedy, materialistic goals on the one hand and compassionate, altruistic goals on the other, that drive a specific decision.”
Growing our cities bigger and getting into some other game mechanics: transportation, zone layouts, rewards. Also: the Takings Clause, the Laffer Curve, and the urban planning of Canberra. And at the end, announcing our next game!
Every once in a while the idea of fixing all our fiscal problems by taxing the top 1% of the population is proposed, but it’s time to do the math and see if it’s true. The Committee for a Responsible Federal Budget put out a report a few years ago, prior to the latest spending due to Covid-19, where they analyzed what it would take to actually balance the budget. The first scenario looks at balancing the budget by not adding any more to the existing debt. The challenge with this scenario is that the interest on the existing debt will crowd out other expenses in the federal budget over time as interest rates rise in the future. In order to balance the budget of the federal government by increasing taxes on only the top marginal tax bracket, they would have to increase it to 102%. Everything earned over $400,000 would be taxed at 100% and then some. When they looked at how high tax rates would have to go if they included anyone that made more than $250,000 a year, the tax rates would have to be 90%. If they went down to $150,000 a year the tax rates would be around 80%. When the committee looked at increasing everyone’s taxes to balance the budget over 10 years, taxes would have to go up to 49% across the board. If you think that you stay in the 24% tax bracket and not be affected by the current fiscal situation the math isn’t looking good. What if the government didn’t want to balance the budget but just maintain the current deficit? The top tax rate would have to go up to 60%, or if applied across the population no matter how much they earned, everyone would have to pay a 42% tax rate. Our fiscal condition is more dire now due to Covid-19 so these numbers aren’t drastic enough. The moral of the story is that our current financial crisis is irreversible and can’t be solved by just taxing the rich, the only solution is to broaden the tax base. When you confiscate 100% of what people make you encounter the Laffer Curve. At whatever the cut off point is those people will just stop working and you will ultimately kill the economy. You also need to keep in mind that when a politician talks about taxing the rich today, they are talking about using that money to fund another program, not to deal with the debt crisis. Taxing our way out of the problem isn’t going to work very well, even if we taxed everyone in the country and spread the burden out, let alone just by taxing the rich. You are not immune to tax increases just because you’re not in the top 1% in terms of wealth. Mentioned in this Episode: Can We Fix the Debt Solely by Taxing the Top 1 Percent? https://www.crfb.org/blogs/can-we-fix-debt-solely-taxing-top-1-percent
A quick dissection of a trash PolitiFact article aimed at "debunking" the fact that total federal tax receipts in 2018 were a record high. Short one, a party awaits
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Notable billionaire and possible Keebler elf Michael Bloomberg has thrown his hat into the presidential ring as a Democrat. Meanwhile Bernie Sanders wants to outlaw billionaires, and Elizabeth Warren wants to slowly deflate them, like cash balloons. Josie "The Red-Headed Libertarian" joins the show to discuss billionaires, wealth taxes, the Laffer Curve, and where to hide in a nasty political climate.
Economist Arthur Laffer, creator of the "Laffer Curve" and author of Return to Prosperity: How America Can Regain Its Economic Superpower Status, explains why high taxes don't necessarily produce more income for the government. Find out why the next U.S. government should consult with the Laffer Curve in order to create prosperity and growth. How should you invest to increase income? Governments can increase income through taxation, but individual investors need to think about others ways to generate wealth. Douglas Goldstein, CFP®, discusses how to invest when markets hit rock bottom and describes investing strategies in order to achieve long-term goals. Don’t forget to sign up here for the upcoming free webinar on how the U.S. elections may affect your retirement savings. Send your questions to Arthur Laffer at: drlaffer@laffer.com
Ron has a bucket list experience geeking out on economics with legendary economist Art Laffer, who created the two biggest tax cuts in American history under Presidents Reagan and Trump! He and the guys get schooled on everything about economics and the Laffer Curve, while Art expounds in really funny fashion! Also they take on the week's news, including how New York City will now fine you $250,000 if you say "illegal alien," how a city building in Portland had a $195 million overhaul but forgot to include urinals, and how actor Randy Quaid (Cousin Eddie from the "Vacation" movies) is getting ready to clean out the s***er in Washington, DC by running against Adam Schiff! You gotta hear this!!
Stocks rally on the latest readings on the economy and signals on US China trade. Views on the market and economy from market veteran Hugh Johnson, Chairman and CIO, Hugh Johnson Advisors, famed economist Dr. Arthur Laffer, former top economic advisor to President Reagan, father of Supply Side Economics and the Laffer Curve. Mortgage rates move to near record lows. Hurricane Dorian impacts the cruise line business and now cruise companies and even passengers are helping in the hurricane relief efforts in the Bahamas. Cruise Guy Stewart Chiron has details and an update on new ships coming to L.A. and Long Beach. Support the show.
Tune in to my first live YouTube event Monday, July 15, 9pm Eastern time U.S. Call in and convince me that I'm wrong on bitcoin! More Market News after Powell's Congressional Testimony The markets have been pretty quiet over the last couple of days, so I really don't feel like spending a lot of time on today's podcast talking about the markets. I probably will have more to say, maybe on Thursday when I'll probably do another podcast because Jerome Powell is making his way up to Capitol Hill tomorrow and Thursday to testify before the House and the Senate. My guess is that some of his comments may move the markets; the currency markets, the gold market, maybe even the stock market. I'll probably have more market-oriented commentary to give you on Thursday. Laffer Curve for Dummies But there are a few things on my mind, which is why I wanted to take some time today and record this podcast. One has to do with Art Laffer. Of course, Art Laffer gained fame back in the Reagan era. He came up with the "Laffer Curve" that he supposedly sketched out on a napkin one day and showed it to Ronald Reagan. The Laffer Curve basically says that when you reduce taxes, or lower marginal tax rates, you actually end up collecting higher tax revenues because you incentivize people to work more, they earn more, and then they pay more taxes even if they are paying taxes at a lower rate. Obviously, the Laffer Curve bends at some point, because if taxes are zero, you collect no revenue and if taxes are 100%, you also collect no revenue. Because if you're going to tax somebody 100% of their income, they're not going to work at all. Nobody is a complete idiot - they're not going to work for nothing. So at a 100% tax rate and a 0% percent tax rate the government collects exactly zero taxes. So somewhere along that curve is an optimal point where you would have the tax rate that generates the most amount of revenue.
Tune in to my first live YouTube event Monday, July 15, 9pm Eastern time U.S. Call in and convince me that I'm wrong on bitcoin! More Market News after Powell's Congressional Testimony The markets have been pretty quiet over the last couple of days, so I really don't feel like spending a lot of time on today's podcast talking about the markets. I probably will have more to say, maybe on Thursday when I'll probably do another podcast because Jerome Powell is making his way up to Capitol Hill tomorrow and Thursday to testify before the House and the Senate. My guess is that some of his comments may move the markets; the currency markets, the gold market, maybe even the stock market. I'll probably have more market-oriented commentary to give you on Thursday. Laffer Curve for Dummies But there are a few things on my mind, which is why I wanted to take some time today and record this podcast. One has to do with Art Laffer. Of course, Art Laffer gained fame back in the Reagan era. He came up with the "Laffer Curve" that he supposedly sketched out on a napkin one day and showed it to Ronald Reagan. The Laffer Curve basically says that when you reduce taxes, or lower marginal tax rates, you actually end up collecting higher tax revenues because you incentivize people to work more, they earn more, and then they pay more taxes even if they are paying taxes at a lower rate. Obviously, the Laffer Curve bends at some point, because if taxes are zero, you collect no revenue and if taxes are 100%, you also collect no revenue. Because if you're going to tax somebody 100% of their income, they're not going to work at all. Nobody is a complete idiot - they're not going to work for nothing. So at a 100% tax rate and a 0% percent tax rate the government collects exactly zero taxes. So somewhere along that curve is an optimal point where you would have the tax rate that generates the most amount of revenue.
In this episode, we're discussing: (1) How diesel trucks could be nearly eliminated in California under a proposed new law; (2) How the weed tax shortfall taught California Democrats the logic of the Laffer Curve; (3) Solving California's housing crisis demands action.
On this episode, Scot Bertram is joined by Adam Carrington, politics professor at Hillsdale, to discuss the possible elimination of "blue slips" in the Senate. Noah Rothman discusses his new book, UNJUST: SOCIAL JUSTICE AND THE UNMAKING OF AMERICA. Hillsdale economics professor Gary Wolfram explains the Laffer Curve. And Victor Davis Hanson, Distinguished Fellow in History at Hillsdale College, talks about his new book, THE CASE FOR TRUMP.See omnystudio.com/listener for privacy information.
On this episode, Scot Bertram is joined by Adam Carrington, politics professor at Hillsdale, to discuss the possible elimination of "blue slips" in the Senate. Noah Rothman discusses his new book, UNJUST: SOCIAL JUSTICE AND THE UNMAKING OF AMERICA. Hillsdale economics professor Gary Wolfram explains the Laffer Curve. And Victor Davis Hanson, Distinguished Fellow in History at Hillsdale College, talks about his new book, THE CASE FOR TRUMP.
Welcome back to FYI, the For Your Innovation Podcast from ARK Invest. Today on the show we are joined by two special guests. First we have, Catherine Wood CEO and CIO of ARK Invest, as well as a her mentor, former professor, and advisor to ARK Investment Management LLC, Dr. Art Laffer. You might know Dr. Laffer from his famous Laffer Curve. He first gained prominence during the Reagan administration as a member of President Reagan's Economic Policy Advisory Board. Dr. Art Laffer is also the founder and chairman of Laffer Associates, an institutional economic research and consulting firm, as well as Laffer Investments, an institutional investment management firm utilizing diverse investment strategies. In today's episode we reflect back on Dr. Laffer's time in the Reagan administration, and what technology and economics was like back in the 80s. We also unpack exactly how the Laffer Curve works, and why cutting taxes can actually result in generating more income for a country as a whole. Finally, we dive into the intricacies of the US-China relations, why they are critical for economic advancement, and the incredible opportunities that lie within free trade. For all this and more, be sure to listen in to today's episode!
Welcome back to FYI, the For Your Innovation Podcast from ARK Invest. Today on the show we are joined by two special guests. First we have, Catherine Wood CEO and CIO of ARK Invest, as well as a her mentor, former professor, and advisor to ARK Investment Management LLC, Dr. Art Laffer. You might know Dr. Laffer from his famous Laffer Curve. He first gained prominence during the Reagan administration as a member of President Reagan’s Economic Policy Advisory Board. Dr. Art Laffer is also the founder and chairman of Laffer Associates, an institutional economic research and consulting firm, as well as Laffer Investments, an institutional investment management firm utilizing diverse investment strategies. In today’s episode we reflect back on Dr. Laffer’s time in the Reagan administration, and what technology and economics was like back in the 80s. We also unpack exactly how the Laffer Curve works, and why cutting taxes can actually result in generating more income for a country as a whole. Finally, we dive into the intricacies of the US-China relations, why they are critical for economic advancement, and the incredible opportunities that lie within free trade. For all this and more, be sure to listen in to today’s episode!
In a recent appearance on The Journal Editorial Report, Republican economist Arthur Laffer (of “Laffer Curve” fame) unintentionally revealed the rot at the core of the GOP. In an astonishing statement, he waxed exultant at the prospects of Democrat Jared Polis winning the gubernatorial race in Colorado. Laffer is thrilled because Polis has the right economic plan. For those who don’t know, Polis is openly homosexual, “married” to a man, and supports every lousy pro-homosexual legislation that a sexual anarchist can conceive.… Continue Reading
Early on in the Trump administration, the President tweeted, “I believe strongly in free trade but it also has to be FAIR TRADE.”The free trade/fair trade distinction goes back to the 1980s, when then President Ronald Reagan's free market advisers unsuccessfully plead with him to focus solely on the former. After all, they argued, free trade is fair trade. It's fair to consumers and producers, while tariffs, quotas and other protectionist policies promote unfair business practices. Fair trade is usually just a euphemism for protecting uncompetitive domestic industries from foreign competition. Reagan understood this, but he also had the political savvy to signal loyalty to American companies, so the hybrid “free and fair trade” mantra stuck.Stephen Moore, a former President of the Club for Growth and an economic advisor to President Trump, thinks we are seeing a repeat of the Reagan trade doctrine. While Trump may be threatening countries with draconian tariffs on their exports, Moore says that he is angling for “zero tariffs” behind the scenes. The tough talk is merely a bargaining tactic designed to get other countries, namely China, to reform their own protectionist economies in line with the free world.We can hope that this is the case, but this and other questions remain about Trump's actual commitment to free market policies. Also troubling is the seeming one-sided focus on tax cuts without any significant reductions in government spending. As Milton Friedman observed, “to spend is to tax” — if not now, then in the future. Basic economics dictates that expectations of future tax increases will eventually either depress consumer confidence, or translate into higher inflation. Moore, whose free enterprise bonafides are second to none, has an answer to this as well. While there may not be such a thing as a “free lunch,” economically speaking, there have been situations in which reductions in tax rates have led to increases in overall revenue.Arthur Laffer is credited with the idea of the “Laffer Curve,” showing the optimal rate of taxation that maximizes revenues — past a certain point, the disincentive from higher taxes starts to shrink the overall economic pie, and the government's larger percentage ends up being a smaller total amount. Moore and Laffer have co-authored a new book titled Trumponomics: Inside the America First Plan to Revive Our Economy (available Oct. 30, 2018), which makes the case for “growing the pie” as the primary objective of economic policy.While most economists said that 4% growth would be impossible after so many years of 0–2% growth under Obama, the recent data is proving otherwise. Moore co-founded the Committee to Unleash American Prosperity in 2015 with Laffer, Larry Kudlow, and Steve Forbes. They aimed to “persuade the presidential hopefuls in both parties to focus on the paramount challenge facing our country: slow growth and stagnant incomes.” Did the plan work? Perhaps, but it remains to be seen whether economic growth will be enough to pull the US out of debt (now standing at $21,606,948,383,546.28).
Famous "Laffer Curve" economist gives the best lesson taxes for entrepreneur and insights into understanding today's economy in this interview with Patrick Bet-David.
Welcome to ...Furious Friday! Today’s episode is a special edition covering off on B!tching about the budget Why are people complaining? Well, I actually don’t know…. The media kept harping on about Santa – The jolly guy who gives free things away in concept - but it isn’t free, someone is paying for it (the parents). And isn’t Santa a fictional fantasy we tell kids to behave? Sounds a lot like the Government, except you are the children in their eyes! Instead, this budget is letting people keep more of their own money, rather than taking it to give away. In this episode we will cover off on a few important topics: Lower taxes for all…who pay tax anyway Why people having more of their own money is better than the government having it We will join out friends in the bar again and look at their savings when drinks get cheaper. What the cuts will be from next financial year: What some are saying? And why do people oppose it?Why are tax cuts important? And who benefits? The flow on effects, comparing the ‘Cashed up coke economy’ of Florida in the 80’s. Then to finish it off, the big announcement that from now on Friday’s will have their own special episodes... Furious Fridays! Today we talked about The Laffer Curve...if you're keen to know more, Investopedia knows what's up
Episode 38 of Cleantech Talk kicks off with a discussion of how, while China may be overperforming with its solar panel buildout, those panels are underperforming due to the low air quality there. Which is a polite way of saying that coal-combustion aerosols are reducing solar panels’ electricity harvest -- by up to a third! (Dark aerosols, like soot, tend to absorb light; other aerosols such as sulfates and nitrates, reflect light. In both cases, the aerosols prevent light from reaching solar panels below.) There’s a Laffer Curve at play here, Laffer Curve being a wonkish way of describing the Goldilocks principle that the ideal porridge is between the two extremes of hot and cold. A fellow named Arthur Laffer once pointed out that if a government wanted to maximize revenue, it shouldn’t set the tax rates too high or too low. To his everlasting credit, he pointed out that others had the idea before him, but the name “Laffer Curve” has stuck.
TARABUSTER – EP.60 – Republicans: Ushering in the American Dark Ages Republicans use terms like “Dynamic Scoring” and “the Laffer Curve” to wrap their B.S. in the veneer of legitimacy. The end result is the destruction of democracy and the empowerment of intergenerational oligarchy – everything this country was founded as an antidote to. Tune in tonight 7PM EST at FYINATION.com for another LIVE “Tarabuster!” Join RDTdaily’s Tara Devlin for our weekly therapy session for the Resistance! Rebroadcast on Progressive Voices Sunday 6PM EST, then ANYTIME on the Progressive Voices App. Spend your Saturday Evenings with Tara Devlin and her delightful Executive Producer, Thomas Reynolds. Tweet us using the hashtag #FYILive, or directly at @REALTaraDevlin or join the chat at FYINation.com or call 810-479-4394 to leave a message that may be played on the air!
Tonight is an off-the-cuff deep dive into Trump's tax policy and Kamala Harris' pilgrimage over into the world of Medicare for All.
The White House aims to enact historically big tax cuts and claims they would not add to the federal deficit because they would stimulate the economy and pay for themselves. On this episode of Taxology, we explore the theory and history behind this approach to formulating tax policy: the Laffer Curve.
This week we talk about net metering, reproducibility, and the Laffer Curve.We also discuss Amgen, anecdote, and the Edison Electrical Institute. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit letsknowthings.substack.com/subscribe
This week we talk about net metering, reproducibility, and the Laffer Curve. We also discuss Amgen, anecdote, and the Edison Electrical Institute. For more information about the podcast and to view the copious show notes, visit letsknowthings.com. Become a patron on Patreon and/or vote for LKT in the News & Politics category of the Podcast Awards. My new book Becoming Who We Need To Be is available as an audiobook, paperback, and ebook.
Arther Laffer is best known for the Laffer Curve, an illustration of the theory that there exists some tax rate between 0% and 100% that will result in maximum tax revenue for governments. He explains how there are two effects Read more › The post MTI113: The Laffer Curve, with Dr. Arthur Laffer appeared first on Money Tree Investing Podcast.
"Rob Black & Your Money" - Radio Show August 17 - KDOW 1220 AM (7a-9a) Rob Black talks about our current earning season, retirement issues, stock investing misconceptions, The Laffer Curve, Ronald Reagan, & more.See omnystudio.com/listener for privacy information.
John Tamny's Challenge to Supply Siders, and Why He Wants to Throw the Laffer Curve in the Trash by Encounter Books
What would the American founders think of our taxation system today, given America’s origins? Daniel Mitchell answers this and other questions as we talk about the different kinds of tax schemes and the different incentives they offer taxpayers.Why is doing taxes so complicated? Why are there so many exemptions, deductions, incentives, preferences, etc. in the tax code? Are the rich paying their “fair share” of taxes? What’s the Laffer Curve and how does it work? What are consumption taxes and why are they better for the long term growth of the economy? See acast.com/privacy for privacy and opt-out information.
Tim Montgomerie is joined by Ian King, David Aaronovitch and Libby Purves. Ian King argues that Labour, led by Ed Miliband, has abandoned any pretence that they will form a constructive working relationship with business or wealth-creators with his pledge to reintroduce the 50p additional rate of income tax. David Aaronovitch says that parties strive to emphasise their differences where there is little - to create "blue water" for the sake of it. Libby Purves states - in no uncertain terms - that we should do away with the 'role' of First Ladies. Is the term relevant in the modern age? Subscribe in iTunes: itunes.apple.com/gb/podcast/did-you-read Subscribe to The Times: www.thetimes.co.uk Follow The Times Opinion pages on Twitter: @TimesOpinion See acast.com/privacy for privacy and opt-out information.
Reagan's Monetary, Fiscal Political Philosophy used to defeat Keynesian Stagflation RESTORING the Republic.
In this podcast, we discuss the thinking behind the Laffer Curve and the importance of transfer payments in redistributing income. We also look at the Lorenz Curve and Gini co-efficient as measures of income inequality.
The Laffer Curve from the 1920s reflects the truism that a 77 percent tax rate produces the same amount of revenue as a 7 percent tax rate. Once the tax rate exceeds twenty-five percent, less will be collected.The first progressive rates took place before the income tax. The British invented the income tax, promising to give it up when the war ended. It didn’t happen. In the Colonies, all taxation was seen as evil. Adams says “socialism comes by seduction, but communism comes by rape.”Lecture 9 of 10 from Charles Adams' The Rosetta Stone to the US Code: A New History of Taxation.
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