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Keyword: supplyside

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  • Laffer Curve Needs Change in Terminology From Government Speak to Individual Rights and Freedom

    07/23/2016 1:01:38 PM PDT · by Jim 0216 · 8 replies
    Love to see everyone enjoying the afterglow of this amazing GOP Convention. Haven’t felt like this politically since 1980. I think morning is once again coming to America. Art Laffer, economist, has analyzed Trumps chances and it brought up some thoughts I have on the Laffer Curve. I love the curve but I hate the terminology... Laffer and Reagan brought us an unprecedented and historic 25 years of growth and prosperity until the Left finally shut it down. Tax cuts are a must, but we need to flip the reasoning - we need to change the terminology and the paradigm...
  • Art Laffer: Trump Should Win Easily

    07/23/2016 11:48:27 AM PDT · by Jim 0216 · 54 replies ^ | JUL 19, 2016 | FRED BARNES
    Art Laffer is a famous economist, one of the brains behind President Ronald Reagan's supply-side tax cuts in 1981. But he was also a political adviser to Reagan and other presidential candidates. Based on history rather than polls or demographics, he insists Donald Trump will win the presidential race—and win easily. History is an argument not often heard in presidential elections except in one case: the likelihood that after one party holds the White House for eight years, that party probably won't win four more years. The one exception in the past half-century was the election of George H.W. Bush...
  • The Left’s Position on the Laffer Curve and Dynamic Scoring:

    01/05/2015 7:49:45 AM PST · by Kaslin · 7 replies ^ | January 5, 2015 | Daniel J. Mitchell
    Kleinbard’s second argument against dynamic scoring is based on his assumption that bigger government is good for the economy since the government spends money wisely.I’m not joking. Federal deficits are on an unsustainable path (as it happens, because of undertaxation, not excessive spending). Simply cutting taxes against the headwind of structural deficits leads to lower growth, as government borrowing soaks up an ever-increasing share of savings. …these models are political statements. They show the biggest economic effects by assuming that tax cuts are financed by unspecified future spending cuts. The smaller size of government, not the tax cuts by themselves,...
  • Supply Side’s Academic Vindication?

    12/13/2013 7:06:24 AM PST · by Academiadotorg · 1 replies
    Accuracy in Academia ^ | December 9, 2013 | Spencer Irvine
    A pair of University of Maryland economists actually found themselves channeling supply side-icon Jack Kemp although they might be loathe to admit it. At a Brookings Institution conference, associate professor Melissa Kearney and assistant professor Lesley Turner noted thtat today’s SNAP [the federal Supplemental Nutrition Assistance Program]requirements have a “secondary earner penalty.” In layman’s terms, that meant that if both married spouses in a couple worked, they would be taxed or penalized for having both spouses work. Both Kearney and Turner proposed that the tax code be reformed to cut out taxes on these secondary earners in order to boost...
  • Mike Lee's Anti-Supply-Side Tax Cut

    11/11/2013 5:48:56 AM PST · by reaganaut1 · 7 replies
    EconLog ^ | November 10, 2013 | David Henderson
    Arguably, one of the biggest accomplishments of supply-side economist Art Laffer in the late 1970s and early 1980s was to get mainstream economists to take marginal tax rates seriously. We all knew that the deadweight loss from a tax is proportional to the square of the tax rate so that, say, doubling the tax rate quadruples the deadweight loss. But, for some reason, economists talked very little about this. And this was during an era when the top federal marginal tax rate on income in the United States was a whopping 70 percent and the top federal marginal tax rate...
  • Why the GOP Won't Admit Supply-Side Econ Has Failed

    12/04/2012 8:25:22 AM PST · by ksen · 151 replies
    The Fiscal Times ^ | 12/4/2012 | Mark Thoma
    The Republican Party has long promoted itself as the party of business. Republicans understand the needs of business, we are told, and if the country would leave the economy in their hands business would boom. All we need to do is to give those at the very top of the income distribution – the “job creators” – more income through tax breaks, and then sit back and wait for the magic happen. Our investment in the wealthy will produce remarkable economic growth, and everyone will be better off. The Bush tax cuts were a test of these claims about supply-side...
  • Reagan Was a Keynesian (Paul Krugman revises history again)

    06/08/2012 4:25:21 AM PDT · by SeekAndFind · 17 replies
    New York Times ^ | 06/08/2012 | Paul Krugman
    There’s no question that America’s recovery from the financial crisis has been disappointing. In fact, I’ve been arguing that the era since 2007 is best viewed as a “depression,” an extended period of economic weakness and high unemployment that, like the Great Depression of the 1930s, persists despite episodes during which the economy grows. And Republicans are, of course, trying — with considerable success — to turn this dismal state of affairs to their political advantage. They love, in particular, to contrast President Obama’s record with that of Ronald Reagan, who, by this point in his presidency, was indeed presiding...
  • Anti-Keynesian Supply Side Tax and Spending Cuts in Sweden, and the Finance Minister Behind It

    05/09/2012 4:26:06 AM PDT · by SeekAndFind · 7 replies
    Carpe Diem ^ | 05/09/2012 | Mark J. Perry
    From the U.K. Spectator's report on the amazing success of supply-side economics in Sweden, and finance minister Anders Borg, the man behind it: "When Europe’s finance ministers meet for a group photo, it’s easy to spot the rebel — Anders Borg (pictured above) has a ponytail and earring. What actually marks him out, though, is how he responded to the crash. While most countries in Europe borrowed massively, Borg did not. Since becoming Sweden’s finance minister, his mission has been to pare back government. His ‘stimulus’ was a permanent tax cut. To critics, this was fiscal lunacy. Borg, on...
  • Newt Gingrich vs. Mitt Romney: Comparing Conservative ‘Products of Work’

    04/22/2012 3:46:58 PM PDT · by SoConPubbie · 24 replies ^ | January 30, 2012 | PolitiJim
    It is terrible that conservatives are out there distorting the records of each candidate. Or worse passing along wrong information without checking facts. All of them have qualifications and disqualifications. But can we get away from what they say they will do and compare what they actually did when they were afforded governing power? I was talking to a nationally published conservative author and speaker today who had absolutely no clue that Newt Gingrich gave the “keynote” rebuttal AGAINST Al Gore on Cap and Trade legislation. This is a travesty not just of conservative media, but those we surround ourselves...
  • Mitt Romney Is Stuck Because He's Not A Pro-Growth Republican

    01/05/2012 2:14:46 PM PST · by SupplySider · 17 replies
    Forbes ^ | 1/3/12 | Paul Hoffmeister
    Paul Hoffmeister is the chief economist at Bretton Woods Research, LLC. According to the polls summarized by RealClearPolitics, Mitt Romney has been unable to win more than 25% of the Republican vote for the party’s presidential nomination for more than a year. This is because the former Massachusetts governor is not a pro-growth Republican. Instead, his economic platform reflects a man who is devoutly Keynesian, and who, as president, would not be able to reinvigorate the U.S. economy. A pro-growth Republican is a “supply-sider” who believes that stable money, low taxes, and limited regulation produce prosperity. And as Art Laffer...
  • Barack Obama, Supply-Sider. The Payroll Tax Stimulus is not the hill for Republicans to die on.

    08/23/2011 7:00:00 AM PDT · by SeekAndFind · 7 replies
    National Review ^ | 08/23/2011 | Kevin D. Williamson
    Let me get this straight: Republicans are arguing for a not-insignificant tax increase, and President Obama is sounding like Jack Kemp, saying higher taxes would lead to lower GDP growth. I knew I shouldn’t have followed that damned rabbit down the hole. As part of a harebrained attempt to stimulate the economy, a temporary reduction in the payroll tax was appended to the deal to prevent the Bush-era income-tax rates from expiring. There is good reason to think that these kinds of short-term stimulus measures don’t do much good. One of Milton Friedman’s key achievements was working out a formal...
  • Taking Stock (Ben Stein says Reagan's tax cuts caused recession)

    08/05/2011 5:35:20 AM PDT · by reaganaut1 · 29 replies
    American Spectator ^ | August 5, 2011 | Ben Stein
    I have been reading about fiscal policy under Ronald Reagan in my father's splendid book, Presidential Economics. What I have learned or re-learned is that Reagan was confronted with a giant problem in his 1980 campaign. The problem was budget deficits from the Johnson/Nixon/Ford/Carter years along with high inflation and a stubbornly high unemployment rate. The conventional economic advice called for raising taxes or monetary restraint to lower the inflation. But the problem there was that those measures would almost surely also generate higher unemployment. Along came what my father calls "the economics of joy," which was supply-side economics. This...
  • The Problem With Supply Side Economics

    06/12/2011 6:20:17 PM PDT · by billflax · 29 replies
    Forbes ^ | 02/10/2011 | Bill Flax
    Supply side economics invokes the most basic element of human nature: self-interest. We all seek to improve our material circumstances. The tinier the tax man’s bite, the greater is our incentive to produce. As tax burdens lighten, motivation heightens, sparking a robust economy. Allowing producers to enjoy their hard earned gains is both just and effective. Contrasted with demand side economics it’s a no-brainer. It is neither just nor effective to funnel public money to political favorites hoping they will spend lavishly and thus stimulate production. Paying people not to produce inspires little effort. Depriving producers of needed capital so...
  • Why the Tax Compromise Won't Work

    12/19/2010 2:08:12 AM PST · by Scanian · 49 replies · 1+ views
    The American Thinker ^ | December 19, 2010 | Paul B. Matthews
    Many on the right, and particularly those who do not truly understand supply-side economics, are propagating the idea that the extension of the Bush tax cuts will bolster investment by business and will trigger a wave of economic activity, thereby helping to pull the U.S. out of its worst economic malaise since Jimmy Carter. This conclusion is wrong. Moreover, by propagating this pseudo-supply side position, proponents have needlessly made Republicans vulnerable to flanking maneuvers by America's left -- maneuvers that could lead to disastrous consequences for the 2012 elections. If the Bush tax cuts are extended, the average American will...
  • Jack Kemp Warned Obama: Don't Raise Taxes

    12/15/2010 5:15:28 AM PST · by Daisyjane69 · 4 replies
    American Spectator ^ | 12/14/10 | Jeffrey Lord
    "Greetings, it's me again, giving more advice…." It was April 17, 2008, and Jack Kemp, the one-time Buffalo Bills quarterback turned congressman, presidential candidate, Bush 41 HUD Secretary and 1996 GOP vice presidential nominee, was at it again. This time, sadly, one of his last "in print" outings before his tragic early death from cancer just over a year later, he was writing an open letter in the Wall Street Journal to then-Illinois Senator and Democratic presidential aspirant Barack Obama. On tax cuts. And while he was at it, in typical Kemp style, reminding his fellow Republicans about the GOP's...
  • Obama the Supply-Sider? (Is he showing signs of losing faith in liberal economic theory?)

    09/22/2010 9:34:56 AM PDT · by SeekAndFind · 7 replies
    American Thinker ^ | 09/22/2010 | Andrew Foy, MD
    President Obama is showing signs that he, along with most of the rest of the country, is losing faith in liberal economic theory. Now I'm not suggesting he's going to go all Milton Friedman on us, but I think it is appropriate to reflect on a comment he made at his September 10 press conference and take a moment to rejoice in small victories. The following question was asked to the president: "On the economy, could you discuss your efforts at reviewing history as it relates to the poverty agenda, meaning LBJ and Dr. King?" The President's reply about...
  • Hillary Clinton: Accidental Supply-Sider

    06/27/2010 11:02:42 PM PDT · by SupplySider · 16 replies
    Secretary of State Hillary Clinton declared recently at the Brookings Institution, "The rich are not paying their fair share." She then went on to praise Brazil as the tax holy grail for the rest of the world: "Brazil has the highest tax-to-GDP rate in the Western Hemisphere and guess what—it's growing like crazy." At first blush those kinds of words must make her neosocialist boss, President Obama, jump for joy. But is the secretary of state actually a supply-side subversive? Take a look at Brazil's income tax rates—they are lower than ours. The highest rate is a mere 27.5%, far...
  • Hello Supply Side (Equating supply-side tax policy with lower revenues (“tax cuts”) is incorrect)

    05/13/2010 6:57:33 AM PDT · by SeekAndFind · 27 replies · 430+ views
    National Review ^ | 05/13/2010 | Alan Reynolds
    In “Goodbye Supply Side,” Kevin D. Williamson writes, “Properly understood, there were no Reagan tax cuts. In 1980 federal spending was $590 billion and in 1989 it was $1.14 trillion; you don’t get Reagan tax cuts without Tip O’Neill spending cuts. Looked at from the proper perspective, we haven’t really had any tax cuts to speak of — we’ve had tax deferrals.” Williamson hopes to “develop a rhetoric in which ‘spending’ and ‘taxes’ are synonyms, so a federal budget with $1 trillion in new spending means $1 trillion in new taxes — levies on Americans today or on our children...
  • Goodbye Supply Side (Republicans want to cut taxes but can't bring themselves to cut spending)

    04/26/2010 6:33:34 AM PDT · by SeekAndFind · 51 replies · 611+ views
    National Review ^ | 04/26/2010 | Kevin Williamson
    There are two schools of thought about the Reagan tax cuts. The conventional conservative view: They spurred investment, entrepreneurship, and real economic growth, helping to resuscitate the post-Carter economy, and, by doing so, they paid for themselves. The conventional liberal view: They were an ill-considered product of starve-the-beast ideology and produced crippling deficits, inaugurating a new era of fiscal irresponsibility only briefly transcended during the golden years of the Clinton presidency. Here’s a different take: They never happened. Properly understood, there were no Reagan tax cuts. In 1980 federal spending was $590 billion and in 1989 it was $1.14 trillion;...
  • NBC's Rehema Ellis Accidentally Explains Supply-Side Economics

    03/12/2010 6:50:19 PM PST · by Halfmanhalfamazing · 13 replies · 1,995+ views
    Rush ^ | March 11th | NBC via Rush
    RUSH: An NBC reporter actually stumbled upon an economic truth. It was an accident. It wasn't intentional, but still the NBC reporter got it right. Andrea Mitchell was talking to the correspondent Rehema Ellis about schools closing in Kansas City and elsewhere because of budget shortfalls, and Andrea Mitchell, NBC News, Washington, said, "This is not just Kansas City. This is the most drastic case we've seen so far, but this is a ripple effect we're seeing from the recession. What is going to happen to the students there and elsewhere across the country?" ELLIS: It's simple, too, Andrea, you...