Laughable Art Laffer was on a serious roll on the Money Honey show, Fox Business Sunday. Maria Bartiromo laps up his 'taxes are evil' disaster theory like a hungry kitten. Art thinks the GOP clown car is an embarrassment of riches. Everyone's tax plan is filled with unicorns and rainbows, and actual U.S. economic history, like reality, means nothing to these candidates and this Pollyanna. Prior to his interview, he remarked that simply fabulous candidates like Rubio and Fiorina demonstrate the depth of the 2016 field on the Right.
Art Laffer was Reagan's Supply Side Economist who is eternally optimistic about his GOP. He thinks 2016 will bring a wave of Republican dominance, the demographic evidence against that aside. His policies bring nothing but economic failure.
While Laffer is undeterred in his support for supply-side economics, the Republican Party should take a lesson from Kansas. Brownback may have survived, but in less conservative states his policies would have ended his political career. If other GOPers want to avoid a similar fate elsewhere, they would be wise not to take Laffer’s advice—presidential candidates included.
Bartiromo allows Laffer to praise Ted Cruz to the moon for his 10% flat tax and 16% business tax. His plan would disproportionately screw senior citizens who would pay an additional 15% on the money they've already paid 25% tax on. But you see, Ted Cruz consulted this Reagan 'taxes are evil' man, so Cruz must be a pretty smart guy. He ignores the empirical data available from the previous three administrations and the data on all measures of economic and fiscal health are best during the Clinton years, where taxes on the highest brackets were raised. Trickle down, as we can see from the data, does. not. work.
Laffer continues to heap praise upon all the candidates, even Ben Carson who reveals, like Reagan did, the absolute minimum, which in this case is essentially based on the Bible. He believes that everyone must be a cheater because when taxes are high, taxpayers are just looking for deductions. Of course, he means the 1% as that is the only concern of the St. Ronnie-was-god-party. Ben Carson, in the respect of his absence of specificity, is just wonderful.
He thinks everyone in the field is willing to listen to others and 'modify their plans' based on what's best. Their motives are pure and they just want 'everybody' to prosper. Unfortunately for Arthur Laffer, we have ample economic data that shows the complete opposite effect of what these right-wing tax-haters want to impose on the MAJORITY of Americans. Tell the poor that they have the chance to be rich by lowering taxes on the rich, because some day, the money will trickle down right into their bank accounts. Except, it won't.
Laffer says that he voted twice for Bill Clinton and pretends that WJC was a success because he lowered taxes. His wife, however, is no match for POTUS. He's certain that this is not Hillary's time, so she won't be elected President of these United States in 2016.