Arthur Laffer

(noun)

An American economist who first gained prominence during the Reagan administration as a member of Reagan's Economic Policy Advisory Board (1981–89); best known for his illustration of the theory that there exists some tax rate between 0% and 100% that will result in maximum tax revenue for governments.

Related Terms

Examples of Arthur Laffer in the following topics:

  • Budget Cuts

    • Citing the economic theories of Arthur Laffer, Reagan promoted the proposed tax cuts as potentially stimulating the economy enough to expand the tax base, offsetting the revenue loss due to reduced rates of taxation, a theory that entered political discussion as the Laffer curve.

  • Free Enterprise Economics and Reaganomics

    • Influenced by economist Arthur Laffer of the University of Southern California, Reagan cut income taxes for those at the top of the economic ladder (the wealthiest of Americans), which was supposed to motivate the rich to invest in businesses, factories, and the stock market in anticipation of high returns.
    • According to Laffer’s argument, this would eventually translate into more jobs further down the socioeconomic ladder.

  • MacArthur's Leapfrogging

    • MacArthur's air forces countered in the Battle of the Bismarck Sea (March 2-5, 1943).
    • MacArthur had presented Elkton III, his revised plan for taking Rabaul before 1944, on 12 February 1943.
    • The next day, MacArthur watched the landing at Nadzab by paratroops of the 503rd Parachute Infantry.
    • MacArthur eventually caught the Japanese off balance and cut off Japanese forces in the Wewak area.
    • Nimitz and MacArthur agreed that the next step should be to advance on the southern and central Philippines.

  • Garfield and Arthur

    • Arthur worked to raise funds for Republican Ulysses S.
    • Congress repealed the moiety system and put the staff, including Arthur, on regular salary.
    • However, the law would also prove to be a major political liability for Arthur.
    • The New York Custom House (formerly the Merchants' Exchange building) was Arthur's office for seven years.
    • Assess the significance of civil service reform under the Garfield and Arthur administrations

  • Civil Service Reform

    • Arthur, the collector of the Port of New York, and his subordinates Alonzo B.
    • However, the law also would prove to be a major political liability for Arthur.
    • When Arthur succeeded Garfield, reformers feared that Arthur, as a product of the spoils system, would not devote his administration's energy to continuing the investigation into the Postal Service scandal.
    • Failure to obtain a conviction tarnished the administration's image, but Arthur did succeed in putting a stop to the fraud.
    • Arthur out of the New York Custom House.

  • Leapfrogging to Tokyo

    • In the other major theater in the Pacific region, known as the South West Pacific theater, Allied forces were commanded by US General Douglas MacArthur.
    • MacArthur greatly supported this strategy in his effort to regain the Philippines.
    • While MacArthur claimed to have invented the strategy, it initially came out of the Navy.
    • Roosevelt (middle), General MacArthur (left), and Admiral Nimitz (right) in Pearl Harbor, Hawaii, July 26, 1944, National Archives and Records Administration.
    • In the other major theater in the Pacific region, known as the South West Pacific theater, Allied forces were commanded by US General Douglas MacArthur.

  • The Military Implementation of Containment

    • General Douglas MacArthur was given the command of UN troops in Korea.
    • MacArthur was placed in command on July 8.
    • Truman blamed MacArthur's focus on victory and adopted a "limited war" policy.
    • For his part, MacArthur denounced Truman's "no-win policy."
    • This photograph depicts General MacArthur observing the Incheon Landing.

  • Containment to Rollback

    • Under the rollback strategy, UN troops under the direction of General Douglas MacArthur advanced across the 38th parallel into North Korea in October of 1950.
    • Douglas MacArthur, moved the United States toward a stronger commitment to the containment policy.
    • Truman blamed MacArthur's focus on victory and adopted a "limited war" policy, shifting his focus to negotiating a settlement, which was finally reached in 1953.
    • For his part, MacArthur denounced Truman's "no-win policy" and the abandonment of the policy of rollback.
    • This photograph depicts General MacArthur observing the Incheon Landing.

  • Bureaucratic Reform

    • Arthur administration, the Pendleton Act served as a response to President James Garfield's assassination by a disappointed office seeker.

  • China and the Bomb

    • As a result of early Chinese tactical successes, General Douglas MacArthur, who had been in command of U.N. forces in Korea, argued in favor of using nuclear weapons against China and/or the North Korean interior in order to disrupt Chinese supply lines and force negotiations.
    • MacArthur attempted to orchestrate public support for bombing China, as well as for assisting an invasion of the mainland by KMT forces, led by Chiang Kai-shek.
    • MacArthur's stance in this regard contributed to his controversial dismissal by President Truman.
    • In April 1951, Truman relieved MacArthur of his duties and replaced him with Ridgway.