Thursday, January 2, 2014

Arthur Laffer Is Always Wrong

Reminder: walking joke "economist" Arthur Laffer was dead wrong, as usual. by @DavidOAtkins
And yet, it is serially wrong shills and clowns like Art Laffer whose opinions are routinely put forth in our prominent print and television media outlets.  Why is that?
What's wrong with the economy has nothing to do with the deficit, the ACA, government spending, regulation, or anything remotely related to what any conservative pundit might blather about. The weakness in the economy is a function of wages that are too law and jobs that are too few. And given the outlandish stock prices, corporate profits and executive salaries over the last few years, any claims that businesses are too overtaxed or overregulated to create jobs are an outright joke. Everything conservative economists say is an attempt to district from the most dangerous truth they face: that corporate profits and stock prices are at record highs, but that's not helping create middle jobs and prosperity. If they ever admit that simple truth, the whole game is up.

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