Thursday, May 11, 2017

Trump’s massive tax-cut plan is discredited, dangerous “voodoo economics”: Last laugh of the Laffer curve?
"The Laffer Curve, and Other Laughs in Current Economics.” That was the title of the last of Martin Gardner’s legendary “Mathematical Games” columns in Scientific American, published in December 1981. It’s worth recalling, now that President Donald Trump has dragged Arthur Laffer and his simplistic economic analysis back into the public spotlight again. If you have mercifully forgotten about the Laffer curve (or never heard of it in the first place), it became the basis for all Republican tax policy, from the era of President Ronald Reagan forward."

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