Reaganomics guru Laffer praises Kansas Gov. Brownback's tax plan

[FreakinDJ]

Brad Cooper | The Kansas City Star

Enjoying almost Republican rock star status, the man who designed supply-side economic policies for Ronald Reagan toured the capitol Thursday touting Gov. Sam Brownback’s plan to cut taxes.

Art Laffer visited with tax committees in the House and the Senate as he lobbied for the Brownback plan that will slash tax rates and eliminate income taxes for thousands of small businesses.

During an hour-long hearing he occasionally dropped names of politicians (California Gov. Jerry Brown, for one) and country music star Larry Gatlin, while plugging his new book due out next month.

Engaging and affable, Laffer defended the governor’s plan to lower tax rates, while eliminating many tax credits and deductions that benefit the neediest Kansans.

Read more here: http://www.mcclatchydc.com/2012/01/20/136425/reaganomics-guru-laffer-praises.html#storylink=cpy

[mojowork_n]

1. Laffer's being sued for his part in a Ponzi Scheme

It's recent, just this past week:

Fifty-two investors claim fund managers associated with supply-side economist Arthur Laffer took $3.1 million to prop up a Ponzi scheme, then said nothing as their money was "wasted with no reasonable expectation of recovery."
The plaintiffs seek damages from Wallace, Bajjali, Laffer and their partnerships, alleging negligence, negligent misrepresentation, breach of fiduciary duty, statutory fraud, common law fraud, conspiracy and violations of the Texas Securities Act.

http://www.dailykos.com/story/2012/01/13/1054470/-Arthur-Laffer-not-Laughing-Named-in-Ponzi-Lawsuit