Date of Birth: August 14, 1940
Zodiac Sign: Leo
Biography
Arthur Betz Laffer is a prominent American economist best known for his work in the realm of supply-side economics. Born on August 14, 1940, Laffer gained significant attention for his development of the Laffer Curve, which illustrates the relationship between tax rates and tax revenue. He earned a Bachelor’s degree in Economics from Yale University in 1963 and later obtained an MBA and PhD in Economics from Stanford University. Laffer’s career has spanned academia, government, and the private sector. He has served as a professor at the University of Chicago, Pepperdine University, and the University of Southern California. In government, he was a member of President Ronald Reagan’s Economic Policy Advisory Board from 1981 to 1989, where his theories strongly influenced Reagan’s economic policies, particularly the significant tax cuts of the 1980s. In addition to his academic and governmental roles, Laffer has been a successful entrepreneur and consultant. He founded Laffer Associates, a consulting firm that provides economic research and financial analysis. He has authored several books and numerous articles on economic theory and policy.
5 Interesting Facts about Arthur Laffer
1. Arthur Laffer is often credited with popularizing the Laffer Curve, a concept that suggests there is an optimal tax rate that maximizes revenue without discouraging productivity.
2. He was awarded the Presidential Medal of Freedom by President Donald Trump in 2019.
3. Laffer has been an economic advisor to various political figures, including Donald Trump and Boris Johnson.
4. He has made numerous television appearances to discuss economic policy, including on channels like CNBC and Fox News.
5. Laffer has authored several influential books, including “The End of Prosperity” and “Trumponomics: Inside the America First Plan to Revive Our Economy.”
5 Most Interesting Quotes from Arthur Laffer
1. “The basic premise of the Laffer Curve is that there is some tax rate between 0% and 100% that will result in maximum tax revenue for the government.”
2. “Government spending is taxation. When you look at this, I’ve always said that spending is taxation.”
3. “If you tax something more, you get less of it. If you subsidize something, you get more of it.”
4. “Sound money, low taxes, and light regulation are the keys to economic growth.”
5. “The best way to encourage economic growth is to leave more money in the hands of the people who earned it.”
Highest Net Worth Achieved
Arthur Laffer’s highest net worth is estimated to be around $10 million.
Children
Arthur Laffer has six children: Arthur Laffer Jr., Allison Laffer, Danielle Laffer, Jennifer Laffer, Michael Laffer, and Nicholas Laffer.
Relevant Links
1. [Arthur Laffer’s Profile on Investopedia](https://www.investopedia.com/terms/l/laffercurve.asp
2. [Arthur Laffer on Wikipedia](https://en.wikipedia.org/wiki/Arthur_Laffer
3. [Laffer Associates](http://www.laffercenter.com/
5. [Arthur Laffer on Fox News](https://www.foxnews.com/person/l/arthur-laffer
