Still time to be bullish. Laffer predicts drastically lower tax receipts AFTER 1/1/11

Discussion in 'Economics' started by wilburbear, Jun 26, 2010.

  1. Arthur Laffer-

    "Now, if people know tax rates will be higher next year than they are this year, what will those people do this year? They will shift production and income out of next year into this year to the extent possible. As a result, income this year has already been inflated above where it otherwise should be and next year, 2011, income will be lower than it otherwise should be.

    Also, the prospect of rising prices, higher interest rates and more regulations next year will further entice demand and supply to be shifted from 2011 into 2010. In my view, this shift of income and demand is a major reason that the economy in 2010 has appeared as strong as it has. When we pass the tax boundary of Jan. 1, 2011, my best guess is that the train goes off the tracks and we get our worst nightmare of a severe "double dip" recession."
     
  2. Art Laffer: Make Up Your Own Facts

    Old news, not a real economist, political hack.

    Just to make this idiotic thread interesting, here is the dumbest economist alive (and to no surprise, another conservative):

    Dumb Economist

    Was this part of the "Stupidest Man Alive" series or of the "Republican War on Science" series or of the "American Enterprise Institute Quality Research" series? Silly question! It was part of all three. It was when Kevin Hassett called for the USAF to attack France and Switzerland to stop CERN's Large Hadron Collider from going into action.

    Business Week should still hide itself from the sun in shame:

    American Enterprise Institute "Economist" of Mass Destruction Kevin Hassett Strikes Again (Republican War on Science Department): Atom Smasher Exposes Hole in Earth’s Defenses: The Large Hadron Collider... consumes about the same amount of energy as a large city... could provide evidence of the existence of the Higgs boson, a hypothesized particle that has become known as the God particle.... [T]he collider’s energy could induce a catastrophic event. A brilliant review of the risks associated with the experiment by University of North Dakota law professor Eric Johnson.... LHC’s high-energy collisions might create a microscopic black hole that would, perhaps over a few years, swallow the Earth.... Oxford University’s Toby Ord, a philosopher by training, adds... t may be that the models that we use to make predictions about the possibility of catastrophe are themselves flawed.... Ord estimates that the odds of the LHC producing a disaster are between one in 1,000 and one in 1 million... the likely benefits from this experiment... [cannot]... justify accepting a cost that includes a real risk of the Earth’s destruction.... Right now... [if] the U.S. wanted to stop the LHC experiment, it would have no recourse short of military action...

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    Live webcam of what happened: LHC creates blackhole, destroys Earth as economist said it would

    This guy sure did know how to top his bad prediction of Dow 36,000.
     
  3. I didn't even know it was that lethal combo of conservative and economist that predicted Dow 36,000. I just figured it had to have been some dumb stupe.
    Ouch!
    Did Kudlow cream his panties back when that book came out? Or, better, did he admit to creaming his panties?