From A Napkin To A White House Medal — The Path Of A Controversial Economic Idea
Art Laffer receives the Presidential Medal of Freedom Wednesday. For decades, Laffer has promoted the idea that tax cuts pay for themselves, against all evidence to the contrary.
Ronald Reagan's former budget director, David Stockman, calls Art Laffer "the greatest Fake Economist to ever come down the pike."
Laffer helped popularize the notion that tax cuts pay for themselves through faster economic growth.
It almost never works out in practice. But Laffer and his namesake curve remain darlings of Republican politicians.
On Wednesday, Laffer will receive the Presidential Medal of Freedom — the nation's highest civilian honor — from President Trump.
Laffer's journey to this moment began 45 years ago with a round of drinks in a Washington cocktail lounge. At the time, Laffer was
