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Arthur Laffer
American
August 14, 1940
Economist
The income effects in an economy always sum to zero.
Arthur Laffer
Tags:
Always
Economy
Income
I feel very uncomfortable with respect to looking at inflation.
Arthur Laffer
Tags:
Respect
Very
Feel
The United States is a nation located in the global economy, and we get enormous, enormous benefits from dealing with foreigners.
Arthur Laffer
Tags:
Get
States
United
The Laffer Curve illustrates the basic idea that changes in tax rates have two effects on tax revenues: the arithmetic effect and the economic effect.
Arthur Laffer
Tags:
Two
Idea
Economic
And you can't have a prosperous economy when the government is way overspending, raising tax rates, printing too much money, over regulating and restricting free trade. It just can't be done.
Arthur Laffer
Tags:
Money
Government
You
What you do by having an income tax rate reduction across the board, you really provide great incentives for people to work, produce, and increase output. So I would support a carbon tax in replacement for a progressive income tax.
Arthur Laffer
Tags:
Work
Great
You
I've been truly blessed. I've been a fly on the wall of history. I've been just so many lucky places just by chance and serendipity, and obviously a huge portion of that serendipity had to do with my relationship with the real president, Ronald Reagan.
Arthur Laffer
Tags:
History
Relationship
Chance
When you look at the government, when the government collects a buck, it's not free. They have to spend resources, the IRS, audits, all this sort of crap, to collect the dollar. I'm not assuming any Laffer curve effect here at all. There are just transactions costs of collecting that money.
Arthur Laffer
Tags:
Money
Government
You
In 2010 the U.S. will have a payroll tax rate increase, an estate tax increase, and income tax increases. There's also a tax increase coming in 2010 on carried interest. This rate will rise from its current level of 15 percent to 35 percent, and then it will rise again in 2011.
Arthur Laffer
Tags:
Will
Then
Also
In 1994, Estonia became the first European country to adopt a flat tax, and its 26 percent flat tax dramatically energized what had been a faltering economy. Before adopting the flat tax, the Estonian economy was literally shrinking. In the eight years after 1994, Estonia experienced real economic growth - averaging 5.2 percent per year.
Arthur Laffer
Tags:
Had
Been
First
I'm worried about economic growth in the United States. And the creation of jobs, output, and employment. And if you tax people who work, you're going to get less people working. And what the carbon tax would do is remove the tax from people who work and put it on a product in the ground.
Arthur Laffer
Tags:
Work
You
People
Let me just try to give you sort of the intuitive one here on the stimulus funds. If you have a two-person economy - let's imagine we have two farms, and that's the whole world, just two farms. If one of those farmers gets unemployment benefits, who do you think pays for him? Am I going way over your heads today?
Arthur Laffer
Tags:
You
Me
Think