Reaganomic Genius Laffer Has Solution to Economic Crisis: Cut Taxes in Half

Just when did the economic disaster begin, and who's brilliant idea was it that led us to this low point in history? Fox News' Neil Cavuto found him; Arthur Laffer (ironic), former Reagan economic advisor and author of "The End of Prosperity."

Cavuto unintentionally lays bare Laffer's twisted logic and convoluted vision. Without ever asking Laffer about how Reaganomics brought about our current crisis, Cavuto cheers on his blantant denial of reality, completely ignoring the actual loss of middle class income over the last 25 years. Laugher says, "Taxing rich people and give the money to poor people your going to have lots and lots of poor people and very few rich people." Watch the crazy man:



Cavuto: ...The Brains, the heart if you will, behind the Reagan tax cuts..

Arthur Laffer: If you tax rich people and give the money to poor people you're going to have lots and lots of poor people and very few rich people...

...the last 25 years we've had all groups who've increased their incomes substancialy, including the poor-the lowest group. Now it's true, the rich have gotten a lot richer, that's very true, but if you try to redistribute income, you'll just make the poor poorer...

...why don't you take the $700 billion package, which is about half of the personal income taxes for one year, and just say, anyone who works and produces over the next year, your taxes are cut in half.

Cavuto: ...you knoow, the wrong guy won the Nobel prize for economics...