Oh, Sweet Jeebus, someone woke up Art Laffer, the brainiac who got Saint Ronnie hooked on Voodoo Economics. Anyway, Laffer thinks he can fix the Trump-Pandemic/ Depression:
Laffer, the designer of the Reagan-era tax cuts and a pioneer behind the controversial notion that slashing taxes unleashes economic growth, is calling for these three actions:
- Impose taxes on non-profit organizations that encourage the arts and education, among others.
- A 15% pay cut to the taxpayer-funded salaries of government officials and professors.
- Enact a payroll tax cut holiday for employees and businesses until the end of the year.
Laffer also told Reuters that he opposed to the recent expansion of unemployment aid under the $2 trillion coronavirus stimulus law. He argued it would actually serve to discourage people from working and inflict more pain on the economy.
Well, fortunately no one listens to him, right?
Laffer has been mentioned as a possible pick to head Trump’s second coronavirus task force focused on reopening the economy, Reuters said. And he’s pitched his plan to top White House officials.
You gotta hand it to Lord Damp Nut. If there’s a way to make something worse, he will find it. We are totally eff’ed in the dark.