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Arthur Laffer
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    (August 14, 1940- )
    Born in Youngstown, Ohio
    Economist known chiefly for his concept, referred to as the 'Laffer Curve' which proposes that since both 0% and 100% tax rates produce no tax income there must be a point between those numbers that produces the maximum possible tax income for the government
    BA in Economics from Yale, MBA and PhD in Economics from Stanford
    Has taught at the University of Chicago, the University of Southern California, and Pepperdine University
    His middle name is Betz.
    He once ran for the United States Senate but lost in the primaries.
    A lifelong Republican, he nevertheless twice voted for Bill Clinton for his economic policies (Bill Clinton had economic policies?) even though Clinton never utilized Laffer's concepts, including the Laffer Curve.
    He's not the first person to come up with the idea of the Laffer Curve, but got it named after him because a reporter happened to be at a meeting where he was explaining the concept.
    The Laffer Curve is a theoretical construct that is almost impossible to precisely define on a practical level.
    It's really hard for dumb people, especially politicians, to understand his work.
    Since taxes are determined in large part for political reasons it's hard to get politicians to try to utilize his theories.
    His last name is pronounced 'laugher.'
    He strongly supported Howard Jarvis and Proposition 13 which lowered property taxes for Californians.
    Using the Laffer Curve properly will usually result in lower taxes and will definitely result in higher tax revenues.
    He is in great demand as a consultant and has proven his real world skills as a member of the board for several large companies.
    He's really smart.
    He was a major influence on President Ronald Reagan and his economic policies that led to the American economic boom in the eighties.

Credit: tom_jeffords

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