What’s the Laffer Curve? It’s a line on graph paper that shows the connection between the rate of taxation and the money government gets. Here’s a classic example:
It shows that as the rate of taxation goes up the government gets more and more money up to a point. When the tax rate goes too high some people refuse to make more money. As government increases the tax rate it takes in less and less money.
“Few people in history have revolutionized” economic thought and policy like Laffer, Trump said. He hosted the event shortly after returning from a trip to Florida where he officially launched his 2020 re-election campaign.
On June 19, 2019 President Trump awarded the Medal of Freedom to economist Arthur Laffer, an economic adviser to Trump’s 2016 campaign and co-author of “Trumponomics: Inside the America First Plan to Revive Our Economy.”
“Few people in history have revolutionized” economic thought and policy like Laffer, Trump said. He hosted the event shortly after returning from a trip to Florida where he officially launched his 2020 re-election campaign.
Laffer, 78, was an aide to President Ronald Reagan and is known for his eponymous “curve,” which shows taxation rates beyond a certain level can prove counterproductive by discouraging work.The curve is frequently cited in support of tax increases and tax cuts. The people of America should be very grateful to Art Laffer because his curve helped keep tax rates down.
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