Tag Archives: Laffer curve

I was a graduate student in a STEM program when Reagan was elected and the Laffer curve was used to justify tax cuts. The problem that immediately stood out to me at the time was that neither the ordinate nor the abscissa in the Laffer graph had scales, so it was impossible to assess where, exactly, the inflection point occurred. Based on the symmetrical drawing, we’re meant to infer that a 50% tax rate is the point after which government revenue...

Well, Trump’s boast turned to dust in 2019. US GDP grew by 2.3% in 2019, well below President Trump’s promise of 3%+ growth. The most recent GDP number proved that the tax cuts championed by Trump had no sustained impact on US growth. Indeed , even the most optimistic forecasts see growth to stay well below 3% for the next few years. Of course, that won’t stop Trump in his State of the Union speech today in Congress proclaiming a huge rise in the living standards of working people under...

Summary and implications of Goldman Sachs economic research team forecast. On the EconomyTrump 2020 game plan: Fake Laffer, Go Keynes.Jared Bernstein | Senior Fellow at the Center on Budget and Policy Priorities and former Chief Economist and Economic Adviser to Vice President Joe Biden in the Obama Administration

Business InsiderOne chart shows why Trump could have big trouble getting his tax plan past some Republicans Bob Bryan