Happy Birthday Laffer Curve

About 50 years ago, Art Laffer drew a convex curve on a napkin to illustrate the power of tax cuts to two senior officials from the Ford administration. Unfortunately, they didn’t take his advice, and they raised taxes in order to reduce economic demand, which they erroneously thought would conquer inflation. They were wrong. With Sen. Tommy Tuberville (R-AL), Deputy Treasury Secretary Michael Faulkender, Steve Moore, Katie Pavlich and Rich Lowry. Learn more about your ad choices. Visit podcastchoices.com/adchoices