Arthur Laffer was Ronald Reagan’s most important economic advisor and created Reaganomics with the 40th US President (1981 to 1989): tax cuts, deregulation, growth focus. In 1974, the now 80-year-old painted his Laffer curve on a napkin in front of representatives of the US government under Gerald Ford. It says that reducing tax rates that are too high leads to increased tax revenue.
WORLD: Mr. Laffer, in our last interview three and a half years ago you said: “Trump is going to be the new Reagan.” Is that what he is?
Arthur Laffer: It’s even better economically, and that’s saying something. But he has a very different style than Reagan, who was a perfect gentleman. That earns him a lot of hostility.
WORLD: What did he do better for the economy than Reagan?