On the recordJune 17, 2021
I appreciate Mr. Schweikert's ongoing analyses of the way we mismanage money around Washington, D.C. And I was reading about proposals to go after the billionaires, the mega- rich, and I recall what Ronald Reagan's economist, economic adviser, Arthur Laffer, had said. Dr. Laffer said--he told a small group of us years ago--if you want to produce money--of course, I am asking you this because I have such great respect for your monetary analyses. If you want to go after money, you want to produce tax revenue, the one place you will never get it is going after the super-rich because they are the only people in America who have the wherewithal to avoid whatever tax you put on them. What is your thought about that analysis?
