Here is my test: Have both candidates read this piece by Art Laffer.
In recent years, conservative luminaries such as columnist George Will and economist Art Laffer have also talked up the idea.
Research by Art Laffer and other economists has demonstrated that over time states that have no income tax perform better than states with high income taxes.
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Art Laffer, Steve Moore, and Jonathon Williams summarize the data in the 2010 volume of Rich States, Poor States, published annually by the American Legislative Exchange Council (ALEC).
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What economist Art Laffer said in the 1970s--which was proved true in the 1980s and 1990s--is that the best way to boost tax receipts is to first boost growth.
The latest work was produced by Art Laffer, Steve Moore and Jonathon Williams in their annually recurring volume Rich States, Poor States, published by the American Legislative Exchange Council (ALEC).
Art Laffer and other Reagan-era economists are saying that the comprehensive, across the board tax rate increases on the nation's employers and investors now scheduled for next year will make a double dip downturn inevitable.
But as Art Laffer recently estimated, reduced marginal tax rates may roughly be considered 10 times as important as reduced regulatory costs, and stable money may be considered 10 times as important as reduced tax rates.
After Reaganomics was adopted in 1981, the economy took off on a 25-year economic boom in late 1982, what Art Laffer and Steve Moore have rightly called the greatest period of wealth creation in the history of the planet.
Most students of economics are familiar with the Laffer curve, named by Dr. Art Laffer, which demonstrates how higher taxes do not necessarily mean a higher tax yield, with there being a point (the peak of his curve) after which total revenue falls when the tax rate increases.
Louis Woodhill, following on the work of Art Laffer, developed a framework for judging whether any given amendment to current tax law pays for itself or is self-defeating by analyzing the change in the present value of revenues discounted out to the infinite horizon produced by the tax amendment.
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