"Because tax cuts create an incentive to increase output, employment, and production, they also help balance the budget by reducing means-tested government expenditures. A faster-growing economy means lower unemployment and higher incomes, resulting in reduced unemployment benefits and other social welfare programs."
Arthur LafferTiny Panda Quotes
Quotes by Arthur Laffer
Arthur Laffer, an esteemed economist born in 1940, is renowned for his influential role in shaping modern economic policy through the creation of the Laffer Curve. His groundbreaking insights into supply-side economics helped fuel the Reagan administration's tax reforms in the 1980s, advocating that lower taxes could stimulate economic growth. A graduate of Yale and the University of Chicago, Laffer's legacy continues to resonate in economic discussions today, highlighting the delicate balance between taxation and prosperity. His impact on fiscal policy remains profound, inspiring generations of economists and policymakers.
2 quotes found
"Government spending is taxation. When you look at this, I've never heard of a poor person spending himself into prosperity; let alone I've never heard of a poor person taxing himself into prosperity."
Arthur Laffer