Archive for Thursday, September 20, 2012

Economist Laffer who advised Brownback on tax cuts to speak at KU

September 20, 2012


Arthur Laffer, known as the father of supply-side economics and a key advisor on tax policy to Gov. Sam Brownback, will give a lecture next month at Kansas University.

Laffer will speak at 5 p.m. Oct. 11 in Woodruff Auditorium in the Kansas Union. His presentation is entitled "The Next Act for Policymakers: A Primer on Economic Reality, Myths and Fallacies."

His visit is sponsored by the KU School of Business, 1st Global, and the Fred and Mary Koch Foundation. It is free and open to the public.

Laffer is chairman of Laffer Associates and The Laffer Center for Supply-Side Economics. He served as a member of President Ronald Reagan's economic policy advisory board.

More recently, Brownback hired Laffer for $75,000 to provide advice on tax policy during the last legislative session.

Brownback signed into law massive tax cuts that reduce state personal income taxes and eliminates non-wage income taxes for nearly 200,000 business owners.

Brownback has said the tax cuts will boost the economy, but critics have said the cuts will deprive funding of essential government services and unfairly give wealthy Kansans a tax break.

Laffer received a bachelor’s degree in economics from Yale University in 1963. He received an MBA and a doctorate in economics from Stanford University in 1965 and 1972, respectively.

A news release from the KU School of Business said Laffer's "economic acumen, achievements and influence in triggering a worldwide tax-cutting movement in the 1980s has earned him the distinction in many publications as `The Father of Supply-Side Economics.' "


riverdrifter 3 years, 2 months ago

Trickle-down clown comes to town. Bleah.

JackMcKee 3 years, 2 months ago

Will Laffer give back the $75k when KS goes bankrupt? Hey Laffer, where are those jobs you promised?

Patricia Davis 3 years, 2 months ago

Has there not been a person with a truer name? What a joke.

chootspa 3 years, 2 months ago

A Primer on Economic Reality, Myths and Fallacies <---- well, he's certainly got myths and fallacies covered. I'm not sure he'll get around to the reality part.

fiddleback 3 years, 2 months ago

Yes, 3 degrees from 2 quite liberal institutions, which I'm sure you'd describe very charitably in any other context. Keep up the fawning; I'm sure he'll be reading every word.

An how far'd you git in yur skoolin, Sage?

Tomato 3 years, 2 months ago

That's not really true. It's generally accepted by economists that a Laffer curve exists, but debate continues over the exact shape of it and where the revenue-maximizing tax rate rests.

You may not like some of the tax policy that has used a Laffer curve for justification, but that's invalidate the theory, nor is the theory laughable.

jafs 3 years, 2 months ago

The Laffer curve is a theory, not a fact.

It seems reasonable in some ways - the problem is in determining where we are on the curve, and the tipping point at which tax rate increases become counterproductive.

For those who think that lowering taxes is always the best way to go, imagine a 0% tax rate.

Larrytown 3 years, 2 months ago

Those states definitely a mixed bag of chips. I do know that the recession has hit Florida and Nevada really hard. Texas has one of the worst public education systems and also big problems with poverty and people without health insurance. I believe Washington has a pretty high tax bruden (when you throw in property tax and sales tax).

Tomato 3 years, 2 months ago

Those states don't have a zero tax burden. They have simply eliminated state income tax. They have property taxes and sales tax, instead. Some of them also have state corporate taxes. Furthermore, some federal tax dollars return to the state.

Tomato 3 years, 2 months ago

Exactly. The Laffer curve theory does not argue for a 0% tax rate and it does not support constantly lowering taxes. It simply posits that there is a revenue-maximizing tax rate. Whether we should lower or raise the tax rate would depend on where we are on the curve, and the shape of the curve.

gccs14r 3 years, 2 months ago

And we don't even know where we were on the curve before the Reagan-era cuts. It could be that we needed to increase taxes from those levels. Considering how prosperous the country was back when the top rate was 93%, that seems plausible.

WilburM 3 years, 2 months ago

Exactly, but most Lafferites always argue for lower taxes when in fact both Bush and Clinton (and Reagan as well, after 1981) raised taxes with excellent results -- especially in the late years of the Clinton Administration.

verity 3 years, 2 months ago

`The Father of Supply-Side Economics.'

They make it sound like that is a good thing.

Phillbert 3 years, 2 months ago

Kobach, then Brownback and now Laffer. Business School is on a roll with its speakers. Why not just get the Koch brothers and go straight to the source?

Appropriate Art is talking about myths, since his claim that states with no income taxes grow faster is one of the biggest myths out there:

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