#art laffer

Eric Hananoki at MMFA:

Right-wing media outlets have been helping former President Donald Trump’s campaign push the bogus attack that Vice President Kamala Harris and Gov. Tim Walz have never had a “real job” in their lives. The claims have gone unchallenged in right-wing media, including the statement from Trump National Press Secretary Karoline Leavitt that “neither of them, by the way, have had a real job in the outside world, outside of politics in their entire careers.” In reality, Harris has served as the district attorney of San Francisco, attorney general of California, a U.S. senator, and vice president. She also worked in the Alameda County District Attorney’s Office and at McDonald’s. Walz has served as a U.S congressman and Minnesota governor. He also worked in the Army National Guard, as a public school teacher and football coach, and on a farm. Despite that background, right-wing media outlets have been helping the Trump campaign push the bogus attack that the two haven’t worked any “real” jobs.

Right-wing media and Trump campaign surrogates push bogus insinuation that neither Kamala Harris nor Tim Walz worked a “real job” in their lives.

Laffer disagrees with Elizabeth Warren: I don't think we need more regulation

Laffer disagrees with Elizabeth Warren: I don't think we need more regulation Category Main Description: Democrat Elizabeth Warren demands the SEC to investigate the GameStop frenzy that has taken over Wall Street. Warren has been vocal about breaking up … TopTrengingTV Hunting the most trend video of the moment, every hour every day 24/7. Youtube Video Data Published At: 2021-02-01T15:30:10Z…

Hunter at Daily Kos: 

Trump's Mike Pence-led pandemic task force may still be a bungling mess with no clear objectives, still-murky powers, and a continued inability to put together any coherent message that can last longer than it takes Trump to wander back to the podium, but now it's getting a spin-off. CNN reports that Trump is "preparing to announce" a second coronavirus task force, this one devoted to "reopening the nation's economy."

If you're wondering whether that's good news or bad news: This is Team Trump. It's bad news. Though we're not yet even at the pandemic's peak, Team Trump is getting together a team to speed the "reopening" of the economy that would assemble not pandemic experts, but economic officials and advisers. Freed from having to deal with the irritating facts and figures spouted by pandemic experts like Dr. Anthony Fauci, the new task force would devote themselves to the goal shared by forever-catastrophically wrong Trump advisers like Larry Kudlow and Peter Navarro to put everyone back to work and see what happens.

[...]

So we can expect the "economic" task force to quickly be promoted alongside—or perhaps to eclipse—the current Pence-led Birx-Fauci group. It will also provide a venue for the Peter Navarros of the White House to promote fraudulent medical cures and similar without having a Fauci alongside to rebut; that is really the only reason you might separate out the two efforts.

That brings us to the second major reason for alarm: Trump’s continued devotion to surrounding himself with some of the biggest idiots in America. If anything, the new "task force" seems bent on doubling their ranks. CNN reports that the administration is eyeing nongovernment types such as CEOs and "even major sports teams and well-known athletes" to fill out the group. Floated as the task force's leader:

Art Laffer.

Yes, that Art Laffer. The same. The napkin guy.

Now, Art Laffer's prescriptions for "reopening" the economy have been, in recent works, what for simplicity we shall call Batshit Insane. A partial Reuters rundown of his recommendations: "Tax non-profits. Cut the pay of public officials and professors." Laffer is an opponent of stimulus and relief to workers left unemployed by business closures during the pandemic, saying we instead need to "make it more unattractive to be unemployed."

Instead, he's a proponent of a "payroll tax holiday" for those who still have jobs. That and taxing nonprofits. And ... cutting professors' pay, for some reason?

Fed Chair Powell: Recovery can be ‘robust’ once COVID-19 is contained

Federal Reserve Chairman Jerome Powell said Thursday that the economic recovery following the COVID-19 coronavirus-induced shutdown “can be robust.”

Jeff Cox for CNBC:

Powell spoke during a webinar for the Brookings Institution the same morning that the Fed announced a new $2.3 trillion financing initiative directed at small and larger businesses as well as households and state and local…

The Republican response to the pandemic hitting our country right now has been pathetic. They lie about it, profit off of it, protect the rich, and screw the working class. When the pitch forks come out, at least they’ll know where to go this time. 

Every day, the President of the United States gives a briefing that’s contradicted by his own experts. He began this crisis by denying it existed.…

Back during the financial crisis that led to the Great Recession, Richard Burr took the knowledge he got from being a Senator to tell his wife to pull as much money from their account as possible. He earned the nickname “Bank Run” Burr. 

Now, he’s at it again, but on a much larger scale. After Senators got a briefing on the coronavirus and its likely impact, Burr dumped $1.6 million in stock…

Matthew Chapman at The Raw Story, via NCRM: 

On Monday, right-wing economist Arthur Laffer went on Fox News and warned that if Bernie Sanders is elected president, he would cause a financial crash just like the one Barack Obama caused in 2007 — two years before he took office.

“By giving to those who have a little bit less, you provide them with an alternative source of income, other than working, and they too will produce a little bit less,” said Laffer, who is best known for his belief that tax revenues will go up the more you cut taxes for the rich, and who helped design the package of tax cuts that wrecked the state of Kansas. “Now this is math. It’s not left-wing, right-wing, Republican, Democrat, it’s not liberal or conservative. It’s just plain economics.”

“Whenever you redistribute income, you reduce total income, and that is what [Sanders is] doing, and I’m very afraid that if he were elected, we would have an enormous crash in the market,” said Laffer. “Now that crash would come in anticipation of his election, but it’s much like Obama, who I believe was the reason we had the Great Recession. As he got closer and closer to winning, the markets collapsed.”

The actual cause of the 2007 financial crisis and ensuing recession was a runaway mortgage market that bundled together bad loans to sell as high-yield investments on Wall Street. This problem started years before Obama was even conceived of as a presidential candidate. Moreover, the economy rebounded and then some once Obama’s policies were actually implemented.

From the 04.15.2019 edition of FNC’s The Story With Martha MacCallum:

Entirely discredited "economist" Art Laffer said that Obama is the reason for the great recession, which started in 2007. "Serious news" anchor Martha MacCallum did not follow up on that little nugget pic.twitter.com/o4Z7jNWh1A