Economist Arthur Laffer’s newly published analysis of America’s 110-year history of income taxes is rife with paradoxes; among them, that the higher the tax rates that the U.S. government imposes on the rich, the smaller the share of taxes the rich pay compared to everyone else. Or put another way, the more the government attempted…
A Century of Progressive Taxes: Targeting the Rich but Hitting the Middle Class and Poor
The Little-Known Treasury Secretary Whose Ideas Are Still Debated
The arguments about this often-forgotten U.S. Treasury Secretary continue a century later. The policies and writings of 1920s U.S. Treasury Secretary Andrew Mellon touch on much of what Americans debate today: Taxes, economic growth, and inflation. Keep tax rates as low as possible, he advised. Low taxes benefit those with modest as well as high…
NTD Business Leaders (Sept. 12)—Arthur Laffer: Government Spending and America’s Economic Future
Dr. Arthur Laffer is known as the father of supply-side economics. He designed the famous Laffer Curve that showed that higher taxes don’t necessarily mean higher tax revenue for the government. A chief economist at the Office of Management and Budget in the 1970s and later an economic adviser to President Ronald Reagan and President…
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