Arthur Laffer Quotes

Arthur Laffer
Arthur Laffer
American Economist
Born: Aug 14, 1940
Government Me Money People Work You
Related authors: Alan Greenspan Herbert A. Simon John Kenneth Galbraith Milton Friedman Paul A. Volcker Richard Thaler Robert Reich Thomas Sowell
Because tax cuts create an incentive to increase output, employment, and production, they also help balance the budget by reducing means-tested government expenditures. A faster-growing economy means lower unemployment and higher incomes, resulting in reduced unemployment benefits and other social welfare programs. Arthur Laffer
Government Balance Benefits Welfare Increase Other Programs Resulting Output Higher Budget Economy Also Employment Because Reduced Reducing Unemployment Unemployment Benefits Expenditures Tax Tax Cuts Social Cuts Create Lower Means Production Incentive Help Social Welfare Incomes
Government spending is taxation. When you look at this, I've never heard of a poor person spending himself into prosperity; let alone I've never heard of a poor person taxing himself into prosperity. Arthur Laffer
Alone Government You Prosperity Spending Never Look Himself Heard Government Spending Person Poor Taxation Taxing
Which would you rather have, capital lined up on your borders, trying to get into your country or trying to get out of your country? We are the capital magnet of this planet and we are the savior for not only people, for not only freedom, but also for capital. Arthur Laffer
Freedom You People Country Savior Out Would Borders Rather Magnet Only Also Lined Up Get Trying Which Capital Planet Your
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
Government You Money Too Much Free Too Too Much Money Way Rates Restricting Free Trade Over Prosperous Economy Printing Trade Done Just Tax Tax Rates Much Raising
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
First Country Year Before Dramatically Per Percent Adopt Adopting Economic Economic Growth Had Economy Became Real Been Years Eight Tax Experienced Literally After Flat Flat Tax Estonia European Shrinking Growth
The trade deficit is the capital surplus and don't ever think of having a capital surplus as being a bad thing for our country. Arthur Laffer
Country Think Our Deficit Bad Having Bad Thing Trade Trade Deficit Surplus Being Capital Ever Thing
When you look at the world, everyone in the world who cares about his or her family wants to have a major portion of their assets in the United States because we are the growth country and the freedom loving country. Arthur Laffer
Freedom Family You World Country Cares Everyone States About Major Look Because His Wants Loving Who Who Cares United United States Assets Her Growth Portion
And let the Fed sell bonds to bring bank reserves back down to required reserve levels, so we have restraint on bank lending and bank issuances of liability. Arthur Laffer
Down Back Restraint Fed Sell Bank Lending Required Reserve Reserves Bring Levels Bonds Liability
The minimum wage is the black teenage unemployment act. It is the guaranteed way of holding the poor, the minorities and the disenfranchised out of the mainstream is if you price their original services too high. Arthur Laffer
You Black Holding Too Teenage Way Out Minimum Minimum Wage High Minorities Price Mainstream Wage Unemployment Disenfranchised Poor Act Original Services Guaranteed
With the shrinking of the US economy, and it's shrinking very rapidly, you not only have more money, but you also have fewer goods. That's a classic double-whammy on inflation. Arthur Laffer
You Money Inflation Rapidly Classic More Only Goods Economy Also Very Fewer Us Shrinking
What we're talking about is the price of goods, all goods, in terms of money. That has nothing to do with unemployment, except for the fact that you get fewer goods. And when you have more money and fewer goods, the amount of dollars per good goes up. It goes up because there are fewer goods and it goes up because there is more money. Arthur Laffer
Good You Money Nothing Per About More Fact Except Price Goods Terms Talking Because Dollars Up Unemployment Get Goes Fewer Amount
People can also change the timing of when they earn and receive their income in response to government policies. Arthur Laffer
Government Change People Timing Earn Response Also Policies Government Policies Income Receive
It has always amazed me how tax cuts don't work until they take effect. Mr. Obama's experience with deferred tax rate increases will be the reverse. The economy will collapse in 2011. Arthur Laffer
Work Me Experience Will Increases Deferred Collapse Obama Rate Take Economy Until Always How Amazed Reverse Effect Tax Tax Cuts Tax Rate Cuts
The truth of the matter of is that stimulus money not only doesn't stimulate; it actually reduces output. Arthur Laffer
Truth Money Matter Only Output Stimulate Stimulus Actually
I think the inflation prospects for the U.S. over the next five or six, seven years, are quite serious. You cannot have a bumper crop in apples without the value or the price of each apple falling. The Fed has had the largest increase in the monetary base in the history of the U.S., from colonial times to the present, times ten. Arthur Laffer
History You Inflation Value Think Increase Seven Crop Ten Colonial Fed Price Had Over Prospects Without Falling Years Bumper Five Times Quite Six The History Of Cannot Next Each Serious Base Monetary Apple Largest Apples Present
My godfather was a man named Justin Dart. Some of you may remember Justin Dart. My younger son's name is Justin, named after Justin Dart. I was executor of his estate, and he was my godfather. I first really got time to spend with Ronald Reagan with Justin Dart personally, one-on-one. Arthur Laffer
Time You Man Son Remember First Spend One-On-One Some Dart He Name Named Got Reagan His Godfather May Estate After Ronald Reagan Justin Personally Younger Really
The United States is a nation located in the global economy, and we get enormous, enormous benefits from dealing with foreigners. Arthur Laffer
Benefits Nation Enormous States Located Economy Global Global Economy Dealing Foreigners Get United United States
Over the past 100 years, there have been three major periods of tax-rate cuts in the U.S.: the Harding-Coolidge cuts of the mid-1920s; the Kennedy cuts of the mid-1960s; and the Reagan cuts of the early 1980s. Each of these periods of tax cuts was remarkably successful as measured by virtually any public policy metric. Arthur Laffer
Three Past Virtually Remarkably Over Major Periods Policy Reagan Been Years Metric Any Tax Tax Cuts Public Cuts Successful Measured Public Policy Each Kennedy Early
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
Changes Rates Economic Arithmetic Idea Revenues Effect Effects Tax Curve Tax Rates Tax Revenues Illustrate Basic Two
The story of how the Laffer Curve got its name begins with a 1978 article by Jude Wanniski in 'The Public Interest' entitled, 'Taxes, Revenues, and the Laffer Curve.' Arthur Laffer
Entitled Name Jude Got How Revenues Article Begins Curve Story Interest Public Taxes Public Interest
I used the so-called Laffer Curve all the time in my classes and with anyone else who would listen to me to illustrate the trade-off between tax rates and tax revenues. Arthur Laffer
Time Me Else Would Classes Rates Between Trade-Off Revenues Listen Tax So-Called Anyone Anyone Else Curve Tax Rates Tax Revenues Used Who Illustrate
Obama is a fine, very impressive person. He really is. Unfortunately, everything that he is doing in economics is exactly wrong. He is a crappy president. Arthur Laffer
Economics President Everything Obama Exactly Fine He Wrong Doing Impressive Very Person Crappy Unfortunately Really
California is the highest-tax state in the nation and has been for a long time. It has the highest-paid teachers in the nation, by far - $400 a month more than New Jersey - and yet California is the third lowest state on test scores for fourth and eighth grade English and math in the nation, and has been at the low level for a long, long time. Arthur Laffer
Time Long Long Time Nation State Month Has-Been More New California New Jersey Test Test Scores Been Math Scores Than Grade Eighth Eighth Grade Low Far Lowest Teachers English Jersey Level Fourth Third
The states that have large in-migrations of Hispanics are Florida, Texas and California. And Florida and Texas are way above average in educational achievement, while California's the lowest, just about. Arthur Laffer
Achievement Way States About Above California Educational Hispanics Texas Just While Average Lowest Large Florida
The linkage between tax rates and public services is, if not non-existent, negative. Arthur Laffer
Negative Rates Between Non-Existent Tax Tax Rates Public Services
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
Work Great You People Increase Progressive Would Rate Having Output Support Reduction Provide Replacement Tax Tax Rate Board Produce Really Across Incentives Income Income Tax Carbon
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