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'''Arthur Laffer''' (born Aug. 14, 1940) is a [[supply side]] [[economy|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.  

'''Arthur Laffer''' (born Aug. 14, 1940) is a [[supply side]] [[economy|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. Previously economists mistakenly assumed that a tax rate close to 100% maximized tax revenues.{{fact}}

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]].<ref>Uhler, Lewis K.; Ferrara, Peter J. (July 27, 2019). [https://thehill.com/opinion/finance/453895-his-curve-wins-art-laffer-the-medal-of-freedom-and-the-lefts-outrage His 'curve' wins Art Laffer the Medal of Freedom — and the left's outrage]. ''The Hill''. Retrieved July 27, 2019.</ref>

 

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[[Category:Economists]]

[[Category:Economists]]

[[Category:Political People]]

[[Category:Political Advisors]]

[[Category:Fiscal Conservatives]]