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Economic adviser to late President Ronald Reagan Arthur Laffer joined Fox Business yesterday to dismantle the nutty economic thinking behind President Joe Biden’s leftist tax agenda.
Fox Business host Larry Kudlow asked Laffer if it was “true that rich people and corporations and by the way, small business tax hikes are in this Democratic plan is it true they don’t pay their fair share?” Biden has been reportedly eyeing the “first major” tax hike since 1993, which would include reversing some of former President Donald Trump’s tax cuts. Laffer didn’t hesitate in his answer: “No, it’s not true, Larry. I mean, when you raise taxes on the rich, what you do know is that the rich pay less in taxes.”
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