Economist Arthur Laffer is known as the "father of supply-side economics." (Reed Saxon/AP File Photo)Arthur Laffer, the economist who shaped the theory of supply-side, trickle-down economics, will receive the esteemed Presidential Medal of Freedom in June, the White House announced Friday. A main component of supply-side economics comes from the Laffer curve, a concept Laffer developed that predicted that a lower tax rate would spur more economic growth. This book is on sale now―a terrific read of a really interesting subject!”The Trump tax cuts are a page out of the trickle-down economic playbook. The nonpartisan Congressional Research Service released a report this week showing the Trump tax cuts have not led to economic growth.

Source: Washington Post May 31, 2019 21:33 UTC