Arthur Laffer (born Aug. 14, 1940) is a supply side economist who provided intellectual support for the tax cuts during the administration of President Ronald Reagan. He served on Reagan's Economic Policy Advisory Board throughout the Reagan Presidency.
The Laffer Curve is named after his promotion of the concept that, when tax rates are high, a decrease in tax rates can cause an increase in tax revenues. A reporter for the Wall Street Journal, Jude Wanniski, coined the term after seeing Laffer sketch the curve on a napkin. This negates the naive assumption that a tax rate of close to 100% maximizes revenue.
In 2019, Laffer received the Presidential Medal of Freedom from President Donald Trump.
- ↑ Uhler, Lewis K.; Ferrara, Peter J. (July 27, 2019). His 'curve' wins Art Laffer the Medal of Freedom — and the left's outrage. The Hill. Retrieved July 27, 2019.