On the recordDecember 1, 2010
He has some very simple and easy-to-understand ways even though he's one of these Ph.D.-type economists and all. In fact, what we're talking about here was named after him, the ``Laffer curve,'' showing that when you cut taxes--and he has proven that--that you're going to actually get more Federal revenue--if you do the right kind of taxes, that is. What he was saying today sort of captured my attention. He said, Look at it from a simple point of view. If you're a business, are you going to hire somebody? Well, what you're going to say if you're a businessman is, ``It's going to cost me this much money to hire this guy, and if I do hire him, he is going to make this much.'' So you take a look at that. If he is going to make more for you than what it costs you to employ him, then you're going to hire him because that's the way businesses work. You hire people in order to make a profit, to make your business grow. Now, what happens in this equation if the Federal Government says to the businessman, ``Okay. Now, before you hire that guy, just remember this, that we're going to tax you. We're going to put these additional costs into what you're going to have to pay if you hire this guy''? Well, you don't have to be a rocket scientist to say, Oh, my goodness. If the government starts adding things that the businessman has to pay, it's going to make it harder and harder for him to find the economic ease to hire somebody.
