Changes

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.  

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.  It is unknown whether he provided intellectual support for the tax increases during 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.

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.