You may remember the name Art Laffer. He's famous for the Laffer curve, one of the foundations of supply-side economics. Laffer is one of the main perpetrators of the idea that cutting tax rates will increase the revenue the government receives. You know, kinda like how when you decrease the money you make, your bank account magically goes up. This was correctly called "voodoo economics" by the first President Bush. Art Laffer is an idiot.
Well, now an interview he gave on CNBC in August, 2006 has emerged as a reminder of how little Art Laffer, John McCain, Ronald Reagan, and Republicans in general know about the economy.
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