Trump Giving Medal Of Freedom To 'Trickle Down' Economist, 'Trumponomics' Co-Author
Trump Giving Medal Of Freedom To 'Trickle Down' Economist, 'Trumponomics' Co-Author
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 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.
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.
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.
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.”
Something most sane people knew would happen.
What? Laffer's Voodoo Trickle Down Supply Side "Theory" ALREADY FAILED...
THIRTY YEARS 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.
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?
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...
While Barak Obama is not the topic...
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.
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.
Yep. I think other golfers have received it but Woods is the only one that had a business partnership with the president.
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.
Heck, President Obama gave one to Harvey Milk.
So why not Tiger Woods?
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.