Arthur Laffer: Big Government Is Stifling The American Spirit

[fastfoodclowns]

No Farms. No Food. Laffer is CORRECT !!!!

[Bugs11000]

Ca'nt beleive that this guy, retard Lafleur is in economics. Look at the video,'' Peter Schiff vs Arthur Lafleur''. Retard Lafleur was saing that the economy would prosper while Peter Schiff was saying that we were going into a recession. How come we have retards like this guy that are in charge of anything?

[fastfoodclowns]

@Bugs11000 <========you can't refute him, so you call him derogatory names. How typical and sad.

[Bugs11000]

@fastfoodclowns When I see clowns like retard Lafleur that talk about the economy as if they know it all I truly find this sad. This retard was saying, a couple of years ago that the economy would prosper again. Cmon, you truly beleive this moron? Hey, I'm just a trucker and I know that this economy is going to fail. Christ! It does'nt take a harvard diploma to see what's coming. I'd do better than this jerk. Listen to Peter Schiff, all of what he predicted came true.

[GSW12345]

Hard to listen to this guy he just isnt a very good speaker

[RealHarrySeaward]

His 2 farmers analogy makes no sense. First off how are unemployment benefits(aka insurance) any different than car insurance or any other insurance? And second you need more than two people for insurance to work anyway.

A group of people make regular small payments into an insurance pool in return for accident(or job loss) coverage. Most in the pool will never have an accident which means yes they are helping pay for another pool members accident, but that's the whole point of insurance!!!!

[Nasiruddin84]

Hence I think "economists" like Mr Laffer have no solutions. They don't even have an insight in the real problems because their tools of analysis are primitive and (maybe ideologically) biased. Summary : Hot air, a lot of bullshit-bingo and nothing substantial.

[fastfoodclowns]

@Nasiruddin84 <==== there is a solution! Get a job. Get off the dole, get off food stamps, get off Section 8, do something with your life except whine about "injustice."

[Nasiruddin84]

Also he wastes no minute to think how the economy transformed during the last decades. America is de-facto more and more de-industrialized (just look at the car producers). Thats the greatest challenge to western economies : How do we create good jobs for people, who are unable to be rocket-scientists (Intelligence is 70% genes, hence it is static in a population). Thats the great economic question in the 21st century and it will not be dealt with with 5th-grade simplistic market models.

[Nasiruddin84]

4) If you give money to the poor you create a lot of poor people : The aim is to stabilize society not to make gazillionaires and support a middle-class which is the basis of a functioning parliamentary democracy. He again is misleading and oversimplifying.

The rest of his speech was so weasely to me that I feel no need to criticise it in detail. What he also doesn't tackle at once is that a great slice of US "big government" is military spending.

[Nasiruddin84]

Criticism :

1) Mr. Laffer does claim that the stimulus is not working. He does so without any statistic evidence, just on gut-feeling.

2) FDR : He just repeats the ideological sermon that FDR's New Deal made the crisis worse. If you look at mainstream economic history its just the other way round.

3) "If it doesn't work in a 2-person economy it's not good economy" : The most ridiculous statement I ever heard. The market-model has a lot of limitations.

[BabySatch1]

The venus project is the way foward

[Joniversity]

@BabySatch1 Answers to global problems that promise utopia have a tendency to crash and burn. Usually on the heads of those who follow it (willingly or by force...).

[BabySatch1]

@Joniversity There is no eutopia Joni. The venus project doesnt make false promise's of a perfect harmonious civilization. Its just a hell of alot better than this.

Jaque Fresco is the first to admitt this.

[Joniversity]

@BabySatch1 I only know the most basic details about it, so i might be mistaken. Can you send me a good link about it? Something formal preferably...

...and it's Jonny :-)

[BabySatch1]

@BabySatch1 Sorry, "Jonny" :)

Both Jaque Fresco and Peter Joseph are very informative and clear in their lecture's. Jaque has been studying economics and social behaviours for 70 years, he is now 94. The venus project was theorized before Zeitgeist ever existed, before Peter Joseph was even born. The venus project advocates a resource based economy focused upon the scientific method, and with human well being in mind as opposed to money and power

/watch?v=zr7jKt7fWLU&feature=r­elated 0:59

[Joniversity]

@BabySatch1 Thanks!

I'll take a look and tell you what i think.

Peace,

Jonny.

[shining3210]

Class warfare is useless and harmfull. Classes created by consumers, not by states or policies. People will always pay more to get a better product or more valuable in terms on supply & demand, regardless to the afford put in terms of labor. Its the nature of economics and of consuming.

Comunism is a nice social ideology on the paper, but destructive on terms of economics and prosperity.

This guy hit ALL points correct. If you disagree you just dont have a clue even in the basis of economics.

[MilitantPeaceist]

The problem with Capitalism is, there is not enough of it.

Once anyone could be autonomous & own their own business & then be able to trade freely to their markets.

Now it is a scramble to get a business bought up by a multi-corp by using any means possible & out-source to create economic feedback loops.

[4Ugrunt]

My work slows and you stop talking about gays?

[Joniversity]

@4Ugrunt LOL

[4Ugrunt]

@Joniversity Well I don't depend on the United Nations or Arthur Laffer for my individual rights.!

[Joniversity]

@4Ugrunt Luckily enough - neither am i. :-)

[4Ugrunt]

@Joniversity Until a Jewish Friend told to take off the Israeli Flag off my car I got all kinds of crap! YOU ROCK!

[Joniversity]

@4Ugrunt Crap from who?

[4Ugrunt]

@Joniversity I 'm surprised I forgot. There are occaisional anti-semites and if you keep an Israeli Flag on your car You'll run into them.

[Joniversity]

@4Ugrunt Well. Come to Israel then. It's kind'a OK here :-)

(for now)

[PostSurgeOperative]

Not buying it. For one thing, Laffer misleads on the issue of unemployment insurance. That program is paid into by ALL workers, including the person who gets the benefit; if you have never paid into the unemployment insurance pool, you do not receive the benefit, PERIOD. The world isn't made up of two farmers, and this is where his analogy fails the hardest.

'Big government' isn't stifling the American spirit; Republican talking points, and the liberal/progressive circular firing squad are.

[kareltjekreuk]

@PostSurgeOperative One thing, he is talking about benefits. Benefits are not insurance, thus not paid for in a way of an insurance. A benefit is simply a payment from the government to a citizen based on certain characteristics of that citizen, in this case unemployment. A benefit thus is taken from the "tax-jar" that indeed the other farmer, in Laffer's example, will have to pay 100% since the other farmer does not have an income. Insurance is very, again very, different from a benefit.

[fastfoodclowns]

@PostSurgeOperative <------you don't believe in freedom of speech, then? How pathetic of you.

[freethinker3161]

thanks for posting this. lots to think about although i generally agree with most of his points.