#i

And just remember, every dollar we spend on outsourcing is spent on U.S. goods or invested back in the U.S. market. That's accounting. ↗

— Arthur Laffer

#back #dollar #every #goods #invested

It has always amazed me how tax cuts don't work until they take effect. Mr. Obama's experience with deferred tax rate increases will be the reverse. The economy will collapse in 2011. ↗

— Arthur Laffer

#amazed #collapse #cuts #deferred #economy

Let me just try to give you sort of the intuitive one here on the stimulus funds. If you have a two-person economy - let's imagine we have two farms, and that's the whole world, just two farms. If one of those farmers gets unemployment benefits, who do you think pays for him? Am I going way over your heads today? ↗

— Arthur Laffer

#benefits #economy #farmers #farms #funds

The truth of the matter of is that stimulus money not only doesn't stimulate; it actually reduces output. ↗

— Arthur Laffer

#matter #money #only #output #reduces

What I'm not saying is that all government spending is bad. It's not - far, far from it, but there is no free lunch, as a former colleague of mine used to say. There is no public tooth fairy. Father Christmas does not work on the Treasury staff this year. You can never bail someone out of trouble without putting someone else into trouble. ↗

— Arthur Laffer

#bail #christmas #colleague #does #else

And let the Fed sell bonds to bring bank reserves back down to required reserve levels, so we have restraint on bank lending and bank issuances of liability. ↗

— Arthur Laffer

#bank #bonds #bring #down #fed

Government spending is taxation. When you look at this, I've never heard of a poor person spending himself into prosperity; let alone I've never heard of a poor person taxing himself into prosperity. ↗

— Arthur Laffer

#government #government spending #heard #himself #i

I mean, everyone agrees with stress tests for banks. I mean that's clear. But banks should do that on their own. And they should worry about their own capital functioning. That's what they should do. It shouldn't be a government function. ↗

— Arthur Laffer

#banks #capital #clear #everyone #function

I think the inflation prospects for the U.S. over the next five or six, seven years, are quite serious. You cannot have a bumper crop in apples without the value or the price of each apple falling. The Fed has had the largest increase in the monetary base in the history of the U.S., from colonial times to the present, times ten. ↗

— Arthur Laffer

#apples #base #bumper #cannot #colonial

People can also change the timing of when they earn and receive their income in response to government policies. ↗

— Arthur Laffer

#change #earn #government #government policies #income