Via the Huffington Post, supply-side charlatan Arthur Laffer appeared on CNN to offer his two cents on the subject of health care reform.
Okay, before we go any further, what in the world is CNN thinking in having Arthur Laffer on to discuss health care (or any other serious subject for that matter)?
Laffer’s most significant achievement, of course, was convincing Ronald Reagan that a massive tax cut would actually increase government revenue. To no surprise, Laffer ‘s hypothesis was proven wrong in spectacular fashion.
The Reagan-era tax cut debacle should have been the end of Laffer. Yet, thanks to well-funded right-wing think tanks, Laffer is still around. It’s a good thing too; otherwise, we might never have heard Laffer in August 2006 dismiss the possibility of a recession in 2008 and declare:
“The US economy has never been in better shape.”
Given Laffer’s lack of credibility, it should not have been a complete surprise when, during his CNN appearance this week, a fear mongering Laffer warned:
“[J]ust wait till you see Medicare, Medicaid and health care done by the government.”