'Sometimes it takes a PhD in economics not to be able to understand the obvious' | Dr. Arthur Laffer

Dr. Arthur Laffer on Income Inequality and Taxation

Dr. Arthur Laffer discusses the concept of income inequality and its relationship with taxation. He argues that income inequality can be reduced by both the rich and the poor becoming wealthier, as opposed to everyone becoming poorer. Laffer points out that raising the highest marginal income tax rates tends to underperform the economy and make the poor even poorer. He emphasizes that rich people play a significant role in job creation and economic growth and suggests that the focus should be on letting them concentrate on what they do best, rather than imposing higher taxes.

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