Peter Schiff won this debate. Notice how smug the Keynesian Laffer is. I will admit, I’ve used to the Laffer Curve in debates before, and I think its valid, but in arguing for limited government, it surely isn’t. The argument for low taxes for a true conservative shouldn’t be that it brings in more revenue, but that the federal government shouldn’t need that amount of revenue to operate as it should.
Anyway, Schiff is pretty near prophetic in this video. And Laffer’s arrogance and condescension leaves him with egg on his face a year and a half later.
Hello. I’m Art Laffer. I need a job. If you have one, for a failed economist, please contact me.
I just sent the youtube link for this video to someone who answers the phone at his office… She said she would send it to his assistant and I told her they should get a good laugh out of it.
Art is one of the creators of the current problems, I hope he has no dollars left, but I am sure thats not the case!