Trump: Democrats only want to increase taxes and obstruct

By Politics

You can't tax an economy into prosperity: Art Laffer

Former Reagan economist Art Laffer on efforts to achieve tax reform.

President Trump in a tweet on Monday called Democrats obstructionists and praised Reagan-era economist Art Laffer for backing his tax reform plan.

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The comments came after Laffer told FOX Business how it would be difficult for Democrats and Republicans to vote against the bill.

“I just don’t know how a Democrat can honestly vote against this bill and hold his face up high to the electorate. It just doesn’t make sense to me,” Laffer told Maria Bartiromo on “Mornings with Maria.”

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Laffer rose to prominence after developing The Laffer Curve, which describes how changes in the tax rate affect the government. In Laffer’s opinion, there are myriad factors that contribute to boosting the economy, but tax reform will pave the way for growth.

“Without the tax reform, all the rest misses the boat,” he said. “We have the most uncompetitive business tax structure in the OECD [Organization for Economic Co-operation and Development] by far. We have been getting worse and worse as the year has gone on. Now is the time to reform the business tax code dramatically. Then we go to the next one, which is the ACA [Affordable Care Act]. Then we go to other programs as well, but you [have to] start with first thing’s first, and that is tax reform, growth and then the economy will do all the rest.”

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