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Art Laffer’s take on the Ukraine crisis

by Phantom Ace ( 2 Comments › )
Filed under Headlines, Russia, Ukraine at March 30th, 2014 - 10:48 pm

Art Laffer who is an old school Republican and not a fraud like these chest pounding diarrhea mouth neo-con pundits writes his take on the Ukraine crisis.

Russian President Vladimir Putin really had no choice except to act on annexing Crimea. The reasons go back many years and involve politics, the economy and the fact that many Crimeans identify more with Russia than Ukraine.

America should have been prepared for Russian actions in Crimea, yet, it was not. Those who fail to plan plan to fail.

The incentives for Russia to enter Crimea are obvious.

• First, the Black Sea port city Sevastopol provides Russia with year-round access to the high seas.

• Second, Crimea was transferred from the Russian Soviet Federative Socialist Republic to the Ukrainian Soviet Socialist Republic in 1954 by Communist Party First Secretary Nikita Khrushchev’s unilateral decree – no vote.

• Third, Russia has maintained the Sevastopol naval base since the fall of the USSR more than two decades ago.

• Fourth, the Ukrainian Parliament, after long periods of street riots in the capital Kiev, ousted the elected, pro-Russian president of Ukraine and replaced him with somebody decidedly anti-Russian.

• Fifth, approximately 60 percent of Crimeans are of Russian descent. As a whole, Ukraine’s population is 78 percent Ukrainian and 17 percent Russian.

• Sixth, Crimeans identify themselves as Russians rather than Ukrainians.

• Finally, a tremendous amount of Russian natural gas flows to Western Europe via pipelines through Ukraine.

Based on these facts, it should surprise no one that Putin’s domestic approval ratings last week after the annexation were at their highest level ever, 71.6 percent. President Obama, on the other hand, has approval ratings in the mid-40s.

Art Laffer helped engineer the 1980’s boom, that is more than any of these chest pounding clowns have accomplished in their collective lives.

 

Prof Laffer Returns!

by coldwarrior ( 98 Comments › )
Filed under Economy, taxation at October 16th, 2013 - 4:58 pm

Professor Laffer returns, and the Taxed Enough Already Party cheers!

 

 

‘Laffer Curve’ Creator Back in the Tax Game

Image: 'Laffer Curve' Creator Back in the Tax Game

Dr. Arthur Laffer, Economist and professor at University of Southern California, with “Laffer Curve” on blackboard, Feb. 23, 1981.

Tuesday, 15 Oct 2013 03:14 PM

By Lisa Barron

Four decades after economist Arthur Laffer drew his now-famous “Laffer curve” on the back of a napkin to show how tax cuts would create an economic boom, he is back in the limelight.

In the past couple of years, Laffer, whose curve inspired Reaganomics, has advised about a dozen GOP governors looking for ways to cut tax rates in their states, Politico reports.

“Laffer is certainly experiencing a renaissance in his popularity,” Jonathan Williams of the conservative American Legislative Exchange Council told the publication. “He’s just as effective today as he was 30 years ago.”

Texas Governor Rick Perry is one of Laffer’s biggest fans attributing his state’s economic success to Laffer’s formula. Speaking at the launch of the Laffer Center for Supply-Side Economics in Austin in 2011, Perry said, “By sticking to the principles Dr. Laffer has advocated, like low taxes. Texas has become a beacon for employers fleeing the job-crushing atmosphere that has taken hold in other states.”

Laffer also helped Kansas Gov. Sam Brownback push through his tax reform plans, joining the governor in several public appearances touting the positive impact of lower taxes.

Other Laffer devotees reportedly include Gov. Bill Haslam of Tennessee, Gov. Matt Mead of Wyoming, and Gov. Pat McCrory of North Carolina.

Laffer explained his theories to Politico in Nashville recently, saying, “If you raise taxes … some people may actually leave your state. Some people … leave the labor force and stay home. Others may choose to not employ people, so unemployment rates go higher.”

Critics still decry his theories, though, on websites such as Economist’s View, saying they don’t hold up in practice.

But Laffer continues to have the ear of leading GOP politicians. “Art Laffer is one of the most influential economists in the business,” Jared Bernstein, Vice President Joe Biden’s former chief economist, told Politico.

“If you ask a lot of people how relevant he is today, they’d say: ‘He’s an ’80s story.’ They’re wrong,” he said.

Art Laffer endorses Newt Gingrich

by Phantom Ace ( 107 Comments › )
Filed under Economy, Elections 2012, Energy, Progressives, Republican Party at December 29th, 2011 - 8:30 am

One of the architects of the 1980’s Reagan boom has made an endorsement. Art Laffer, who invented the Laffer curve (which explains how tax rates increase or decrease revenue), has come out in support of Newt Gingrich. This gives Newt a huge boost among Economic Conservatives at a time he’s under assault from the Rockefeller Progressive Wing of the GOP and the Ron Paul cult. He praises Newt’s economic and fiscal stewardship during hos Speaker-ship. The truth is that the Newt Gingrich Congress was the most economically and fiscally Conservative congress since the 1920’s. Laffer gives Newt his blessing.

Arthur Laffer, the architect of Ronald Reagan’s economic plan, announced today that he is endorsing Newt Gingrich for president.

“Newt has the best plan for jobs and economic growth of any candidate in the field,” said Laffer, the renowned economist who is the father of The Laffer Curve and supply-side economics.

“Like Ronald Reagan’s tax cuts and pro-growth policies, Newt’s low individual and corporate tax rates, deregulation. and strong dollar monetary policies will create a boom of new investment and economic growth leading to the creation of tens of millions of new jobs over the next decade,” Laffer declared. “Plus, Newt’s record of helping Ronald Reagan pass the Kemp Roth tax cuts and enacting the largest capital gains tax cut in history as speaker of the House shows he can get this plan passed and put it into action.”

Read the rest: Economist Laffer Endorses Gingrich

What amzes me is that except for Ronald Reagan, the GOP has not nominated an Economic/Fiscal Conservative. Every GOP candidate has been been an economic and fiscal Progressive. For Economic/Fiscal Conservatives Art Laffer is practically a Saint. He help engineer one of the greatest booms in American history. The Reagan boom help laid the foundation for the great economic growth and prosperity that lasted until 2000. We really need something approaching that today.

Another notable Economist endorsing Newt Gingrich is Thomas Sowell.

There are no guarantees, no matter whom the Republicans vote for in the primaries. Why not vote for the candidate who has shown the best track record of accomplishments, both in office and in the debates? That is Newt Gingrich. With all his shortcomings, his record shows that he knows how to get the job done in Washington.

Mitt Romney, who the Establishment is pushing at costs, is a Progressive. He supports Occupy Wall Street and a Euro-Socialist VAT tax. If he is the nominee, 2012 will be the 7th Presidential election in which Economic and Fiscal Conservatives are not represented. We need to stop that, for the sake of our country.