Fox guest Art Laffer: "...these people aren't worth $15 an hour in most cases."

[Nevilledog]

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Lis Power
@LisPower1
Fox guest Art Laffer: For those people who are coming into the labor force fresh, not oldtimers -- the poor, the minorities, the disenfranchised, those with less education, young people who haven't had the job experience -- these people aren't worth $15 an hour in most cases


12:13 PM · Jun 8, 2021

[The Magistrate]

1. Lord Knows He's Not Worth Two Thin Dimes A Day, Ma'am

[Aristus]

2. And yet you complain when nobody applies to work in your empty establishments.

Yeah, I really want to work for a guy who doesn't think I'm worth the money he pays me...

[TheRealNorth]

3. They should use this for 2022

As a general attack against Republicans.

[Yavin4]

7. Wont make a bit of difference.

No attack will make a difference. The only difference maker is getting your side to the polls. That's what Stacey Abrams showed the world in GA in 2020 and 2021.

[Cracklin Charlie]

4. In "most" cases...

So, pretty much no one is worth $15 an hour?

Eff him. Maybe he should get fired and find out.

[Wounded Bear]

5. Isn't he the architect of the Laffer Curve...?

probably the most accurately named scam in history.

[Hassin Bin Sober]

11. The guy is a buffoon.

[jmowreader]

14. Yes, he is

Laffer's theory (that any tax rate above some unstated perfect rate causes widespread tax evasion) has two tiny faults.

First, no one knows what this "perfect rate" could possibly be.

And second, if you're the kind of person who would evade taxes, you'd evade them if the rate was one percent.

[ProfessorGAC]

6. Laffer's Brain Is Stuck In 1981

In 1981, $15/hr was pretty good pay. (Over 30k per year).
In 1981, $7/hr wasn't big money, but one could eek by.
In 1981, with his idiotic curve, people actually gave a damn about what he had to say.
In 2021, none of these three are true.
What moron thought his thoughts were worth pursuing? Even he admits he basically made up his "curve". His credibility is infinitesimal.

[hatrack]

10. Why not? His economics are stuck in 1963, which is when he got his BA

[ProfessorGAC]

13. What Economics?

He doesn't actually know anything about economics.
He admits he made up everything, including the data, that supported supply-side.
He's not an economist. He's a huckster.
As to BA in 1963, he would have lived through the robust part of the 50s, and would have been an adult during the recovery in the early 60s. This was when taxes on the very wealthy were (adjusted & actually paid) nearly 50%.
So, he learned nothing in undergrad & made stuff up later.
He's an admitted fraud.
I still don't know why anybody is seeking out his opinion.

[hatrack]

17. Yep. Professor Bar Napkin, Ph.D

Oh, and I guess he used to work for Holy Saint Reagan 40 years ago, so there's his "credibility" as far as GQP voters are concerned.

[Yavin4]

8. He's speaking as if the cost of living has remained flat for his entire life.

He has no idea how much housing, healthcare, and education have skyrocketed since he was advising Reagan. No one can support themselves on that wage.

[Caliman73]

9. Laffer's opinion is not worth a squirt of piss...

So he may know a thing about lacking value, however, he is stupid and just as wrong as when he put out his stupid "curve".

The only reason that workers cannot demand a higher wage is because society has granted ALL the leverage to employers. Employers can pay whatever they want because it is work or starve. This pandemic has shed light on that reality. If people are able to survive on Unemployment plus a small bump from the Feds, then WAGES ARE TOO LOW. Employers are getting a taste of what it would be like if employees had more leverage and they are scared and pissed off. Same reason why Unions have been vilified over the last 100 years. If labor was able to band together and demand living wages, this would be a very different country. As it stands, the leverage is being clawed back as UI benefits and the COVID relief is being cut. Back to work for starvation wages everyone, nothing to see here, move along.

[tanyev]

12. Well, Art, I can name a lot of Senators and Representatives that aren't worth $174K/yr.

[lagomorph777]

15. The author of the Laffable Curve.

Real economists laff him right out of the room.

[Midnight Writer]

16. The real question is what do the businesses have to pay to keep operating?

If the business fails because it can't attract workers, that changes the calculations about the worth of an employee.