Round Peg, Square Hole
America’s Worst Economist is back on the beat, coming to my home state to tell us what the real problem is with the economy.
If the American economy is to recover, taxes at all levels must be lowered, economist Arthur Laffer told a Toledo audience yesterday.
Mr. Laffer, best known for the Laffer Curve and for advocating so-called supply-side economics during the Reagan administrations, spoke at the Toledo Club to more than 100 clients of Huntington Funds, a subsidiary of Huntington National Bank.
His Laffer Investments Inc. is an adviser to Huntington Macro 100 Funds.
Mr. Laffer said that Ohio’s poor economy is a microcosm of the nation’s.
“Ohio is not in very good shape. Taxes have gotten totally out of control,” he said.
Supply-side economics reminds me of one of Best Buy’s Product Replacement Plans. No matter what happens, it’s always offered as the solution, it almost always costs too much, and even in the rare cases where it does work towards its intended purpose, you’re still probably getting screwed on the whole deal.
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