Thoughtful Money with Adam Taggart

Trump Economic Advisor: Here Comes The Boom! | Art Laffer

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Nov 26, 2024
Arthur Laffer, a renowned economist and former advisor to Presidents Reagan and Trump, predicts a booming economy with the incoming administration's tax reforms. He draws parallels between today’s economic climate and the Reagan era, emphasizing the need for radical tax restructuring to stimulate growth. Laffer discusses the potential of Bitcoin as an alternative currency amid rising inflation and critiques the role of military strength in achieving global peace. His insights offer a hopeful perspective on upcoming market opportunities and economic resurgence.
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ANECDOTE

Shifting Economic Moods

  • Art Laffer recalls feeling depressed in the late 1970s but then euphoric under Reagan.
  • He feels a similar shift now, having been depressed under Biden-Harris but optimistic about Trump's return.
INSIGHT

Trump's First Term Economic Successes

  • Art Laffer believes Trump was the best first-term president for economic policy.
  • He cites the Tax Cuts and Jobs Act, Operation Warp Speed, and energy policy as examples.
INSIGHT

Flat Tax as North Star

  • Trump's economic plan focuses on a low-rate, broad-based flat tax as the ideal system.
  • Laffer believes this will incentivize both employers and employees.
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