My godfather was a man named Justin Dart. Some of you may remember Justin Dart. My younger son's name is Justin, named after Justin Dart. I was executor of his estate, and he was my godfather. I first really got time to spend with Ronald Reagan with Justin Dart personally, one-on-one. Arthur Laffer dartestateexecutor share on social
The income effects in an economy always sum to zero. Arthur Laffer economyeffectincome Change image and share on social
It has always amazed me how tax cuts don't work until they take effect. Mr. Obama's experience with deferred tax rate increases will be the reverse. The economy will collapse in 2011. Arthur Laffer amazecollapsecut Change image and share on social
Ask me whether inflation represents longer-term problem. I think there's a potential there for excess reserves to create problems. Arthur Laffer createexcessinflation Change image and share on social
And you can't have a prosperous economy when the government is way overspending, raising tax rates, printing too much money, over regulating and restricting free trade. It just can't be done. Arthur Laffer economyfreegovernment Change image and share on social
Government spending is taxation. When you look at this, I've never heard of a poor person spending himself into prosperity; let alone I've never heard of a poor person taxing himself into prosperity. Arthur Laffer governmenthavehear Change image and share on social
You know, without China there is no Wal-Mart and without Wal-Mart there is no middle class and lower class prosperity in the United States. Arthur Laffer chinaclasslow Change image and share on social
I think the inflation prospects for the U.S. over the next five or six, seven years, are quite serious. You cannot have a bumper crop in apples without the value or the price of each apple falling. The Fed has had the largest increase in the monetary base in the history of the U.S., from colonial times to the present, times ten. Arthur Laffer applebasebumper share on social
I've been truly blessed. I've been a fly on the wall of history. I've been just so many lucky places just by chance and serendipity, and obviously a huge portion of that serendipity had to do with my relationship with the real president, Ronald Reagan. Arthur Laffer blesschancefly share on social
I mean, everyone agrees with stress tests for banks. I mean that's clear. But banks should do that on their own. And they should worry about their own capital functioning. That's what they should do. It shouldn't be a government function. Arthur Laffer agreebankcapital share on social