Coincidentally, the Laffer Curve also shows the relationship between taxes and President Obama's approval rating
Arthur Laffer, President Reagan’s favorite economist and creator of the famous Laffer Curve, believes the economy is headed for a “train wreck” in 2011. And he thinks it will be so bad that the current recession look like the good ol’ days by comparison.
Human Events reports the details:
In a wide-ranging discussion about where the economy is headed, and the fiscal, tax and monetary reasons why, Laffer gives a bleak forecast of where President Obama and his administration are taking the country in the next three years — which he predicts will end with Obama’s defeat in 2012.
“Obama is a fine, very impressive person. He really is. Unfortunately, everything that he is doing in economics is exactly wrong. He is a crappy president,” Laffer said.
“Whenever a country is in the throes of spending too much and raising taxes, it’s a fiscal catastrophe in the making and this is what is happening now,” he said.
“Crappy,” of course, is a highly-technical economic term that means “socialism doesn’t work.”
Don’t thank us. It’s just what we do.
Source: Human Events
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I went and looked up the whole article by Laffer — really scarry stuff.