Trump Giving Medal Of Freedom To 'Trickle Down' Economist, 'Trumponomics' Co-Author

  
Via:  john-russell  •  2 weeks ago  •  22 comments

Trump Giving Medal Of Freedom To 'Trickle Down' Economist, 'Trumponomics' Co-Author
Trump’s timing is notable: A nonpartisan analysis“from the Congressional Research Service released last week found that, far from the Republicans’ tax cuts paying for themselves,” as was widely asserted as a talking point during the 2017 debate over the tax cut legislation, the cuts did not have their advertised effect.

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Trump Giving Medal Of Freedom To 'Trickle Down' Economist, 'Trumponomics' Co-Author


By Matt Shuham June 1, 2019 1:30 pm

2-3 minutes




President Donald Trump announced Friday that he would give a Presidential Medal of Freedom to the “trickle down” economics evangelist and co-author of “Trumponomics,” Arthur Laffer.

“Arthur B. Laffer, the ‘Father of Supply-Side Economics,’ is one of the most influential economists in American history,” read a press release from the White House Friday afternoon. “He is renowned for his economic theory, the ‘Laffer Curve,’ which establishes the strong incentive effects of lower tax rates that spur investment, production, jobs, wages, economic growth, and tax compliance.”

The medal will be awarded on June 19, the White House said.

Laffer is perhaps best known for advancing the belief that cutting taxes on the wealthy and corporations, which Donald Trump and congressional Republicans did to a significant extent in late 2017, will increase tax revenue and benefit the economy overall.

Trump’s timing is notable: A nonpartisan analysisfrom the Congressional Research Service released last week found that, far from the Republicans’ tax cuts paying for themselves,” as was widely asserted as a talking point during the 2017 debate over the tax cut legislation, the cuts did not have their advertised effect.

The Los Angeles Times summarized: “The CRS finds that the cuts have had virtually no effect on wages, haven’t contributed to a surge in investment, and haven’t come close to paying for themselves. Nor have they delivered a cut to the average taxpayer.”


Laffer, along with right-wing pundit Stephen Moore, who was briefly considered for a Federal Reserve Board nomination, together wrote “Trumponomics: Inside the America First Plan to Revive Our Economy.”

It’s hardly the first time Trump has used the powers of his office to boost an ally: In May, he issued a pardon for his friend, former business associate and author of “Donald J. Trump: A President Like No Other,” the billionaire Conrad Black.


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JohnRussell
1  seeder  JohnRussell    2 weeks ago

Trump is giving the nation's highest civilian award to someone who recently wrote a flattering book about Trump. ROFL.  He wants to keep 'em coming. 

 
 
 
JohnRussell
2  seeder  JohnRussell    2 weeks ago

The Los Angeles Times summarized: “The CRS finds that the cuts have had virtually no effect on wages, haven’t contributed to a surge in investment, and haven’t come close to paying for themselves. Nor have they delivered a cut to the average taxpayer.”

 
 
 
Ender
2.1  Ender  replied to  JohnRussell @2    2 weeks ago

Something most sane people knew would happen.

 
 
 
JBB
3  JBB    2 weeks ago

What? Laffer's Voodoo Trickle Down Supply Side "Theory" ALREADY FAILED...

THIRTY YEARS AGO!

 
 
 
Ender
3.1  Ender  replied to  JBB @3    2 weeks ago

According to them, it will work, one day.....

Haha

Actually it has worked. The top CEOs keep raking in more and more money while everyone else gets a trickle.

 
 
 
Bob Nelson
4  Bob Nelson    2 weeks ago

Laffer has no credibility whatsoever among serious economists. So it's logical, in a through-the-looking-glass way, that Trump should give him the nation's highest civilian award. Trump thus trashes yet another American tradition...

Oh, and... he's also giving one to basketball great Jerry West, because...  ... wby not?

 
 
 
Ed-NavDoc
5  Ed-NavDoc    2 weeks ago

Barak Obama got a Nobel Prize that he neither earned nor deserved, so whats the big deal with a economist getting a prize here, besides that the economist in question is not a progressive leftist liberal Democrat? But that's more than enough to damn him with the left anyway...

 
 
 
Split Personality
5.1  Split Personality  replied to  Ed-NavDoc @5    2 weeks ago

While Barak Obama is not the topic...

The Nobel Peace Prize is intended to give attention, encouragement, and much-needed funding to people and organizations who are trying to bring peace on Earth. to help them expand their work and have more success.

So, what is basically a European institution gave Obama a prize, because he met the requirements and nomination criteria.

The Presidential Medal of Freedom is a joke.  Laffer's theories don't hold any more water than the reason for giving

Tiger Woods, a  pro golfer and reported business partner of the President, the same award.

It's been out of control since Reagan.

Shit, Trump even gave one to Elvis Presley, posthumously, of course.

Must have been a slow day at the White House.

 
 
 
Sister Mary Agnes Ample Bottom
5.1.1  Sister Mary Agnes Ample Bottom  replied to  Split Personality @5.1    2 weeks ago

Tiger freaking Woods?  While I have admiration and respect for his skills, and I absolutely hate that his private life's challenges became so public, it bothers the crap out of me that he was given this award by a man for whom he has been working.  

Before it's all said and done, I bet either Ivanka and/or Jared Kushner end up with this particular medal. 

 
 
 
Ender
5.1.2  Ender  replied to  Sister Mary Agnes Ample Bottom @5.1.1    2 weeks ago

Yep. I think other golfers have received it but Woods is the only one that had a business partnership with the president.

 
 
 
JohnRussell
5.1.3  seeder  JohnRussell  replied to  Sister Mary Agnes Ample Bottom @5.1.1    2 weeks ago
The Presidential Medal of Freedom is an award bestowed by the President of the United States. The Presidential Medal of Freedom and the Congressional Gold Medal are the highest civilian awards of the United States. It recognizes those people who have made "an especially meritorious contribution to the security or national interests of the United States, world peace, cultural or other significant public or private endeavors"
 
 
 
Split Personality
5.1.4  Split Personality  replied to  Ender @5.1.2    2 weeks ago

Arnold Palmer and Jack Nicklaus both received one from Bush 43 after they spent decades of golfing with other Presidents

Dr. Charles Sifford was the first black golfer on the PGA tour in the 60's,  presented by Obama shortly before Siffords death in 2015. He was 93.

 
 
 
Texan1211
5.1.5  Texan1211  replied to  Split Personality @5.1    2 weeks ago

Heck, President Obama gave one to Harvey Milk.

So why not Tiger Woods?

 
 
 
Badfish H҉a҉n҉d҉ ҉o҉f҉ ҉D҉o҉o҉m҉
6  Badfish H҉a҉n҉d҉ ҉o҉f҉ ҉D҉o҉o҉m҉    2 weeks ago

Lower taxes and deregulation do work and are clearly working.

Everyone has a jobenomics is what it should be called.

It's become entertaining to see Paul Krugman attempt to sell doom and gloom.

The previous administration imposed a record number of crony regulations that obstructed recovery. No one wants to return to such economic  illiteracy.

 
 
 
Ender
6.1  Ender  replied to  Badfish H҉a҉n҉d҉ ҉o҉f҉ ҉D҉o҉o҉m҉ @6    2 weeks ago

Yep, who needs clean air and water.

 
 
 
TTGA
6.1.1  TTGA  replied to  Ender @6.1    2 weeks ago
Yep, who needs clean air and water.

Not the correct question Ender.  The correct question is "Of what use to you are clean air and water if you and your kids starve to death because you have no job?"

 
 
 
Ender
6.1.2  Ender  replied to  TTGA @6.1.1    2 weeks ago

So it is greed and hyperbole over conservation. Gotcha.

 
 
 
MrFrost
6.1.3  MrFrost  replied to  TTGA @6.1.1    2 weeks ago

What good is money to buy food if the water and air is polluted to the point where nothing will grow? 

 
 
 
TTGA
6.1.4  TTGA  replied to  MrFrost @6.1.3    2 weeks ago

What do you think is happening to those polluting industries?  Do you think that they're just disappearing?  They are simply moving to places that don't care about pollution, taking their jobs and wealth with them.  Those places care more about winning than they care about cleaning up the environment.  Since pollution is a global problem (air and oceans don't have boundaries), the overall pollution levels don't change, although it might be cleaner on a local level in the poorer areas that gave away all of their manufacturing.  But, after all, the people in those areas are deplorables anyway.  How dare they be so greedy as to want to feed their children by their own efforts rather than ask for a handout from a government apparatchik.

What good is money to buy food if the water and air is polluted to the point where nothing will grow? 

And Ender thinks that I was being hyperbolic????  You could give me lessons.

 
 
 
Bob Nelson
6.1.5  Bob Nelson  replied to  TTGA @6.1.1    2 weeks ago
"Of what use to you are clean air and water if you and your kids starve to death because you have no job?"

So... this isn't really America. It's Bangladesh... only worse.

 
 
 
Bob Nelson
6.2  Bob Nelson  replied to  Badfish H҉a҉n҉d҉ ҉o҉f҉ ҉D҉o҉o҉m҉ @6    2 weeks ago
Lower taxes and deregulation do work and are clearly working. 

Lower taxes make the already-rich even richer.

Deregulation makes the already-rich even richer.

All the paycheck-to-paycheck plebes get is pollution and airliners that fall out of the sky.

 
 
 
bbl-1
7  bbl-1    2 weeks ago

Medal of Freedom for the Supply Side Economics folk to be presented by Trump?

Why not.  Trump doesn't understand any of it and besides, he's a brokahontas anyway.

Does supply Side work?  Yes, depending on where you stand.  Under Supply Side, since 1982 when it was fully implemented, the number of billionaires and millionaires in the US and the World have increased by vast, unbelievable numbers.  Whatever money is available is steadily concentrating into the control of a small minority.  There is this too which should be noted.  In the past ten years the concentrated wealth moving into the control of the small minority has been decreasing.  In other words, the 'wealth controllers' are beginning to feed on each other.

 
 
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