Arthur Laffer, economist and author of Trumponomics: Inside the America First Plan to Revive Our Economy, told Breitbart News that “the poor, the minorities, the disenfranchised are disproportionately benefiting from tight labor markets” during President Donald Trump’s tenure. He offered his remarks in a Monday-aired interview on SiriusXM’s Breitbart News Daily with host Alex Marlow.
“I love the labor force being tight,” said Laffer, “because that’s when the benefits of supply-side economics and economics growth really penetrate the people who have not been as blessed as the rest of us have been — the poor, the minorities, the disenfranchised are disproportionately benefiting from tight labor markets, and that’s just wonderful.”
Laffer rejected left-wing political peddling of materialistic jealousy and resentment. “My dream has always been to make the poor richer, not to make rich people poor. Poor people need to be made better, not rich people pulled down.”
Democrat presidential hopefuls, warned Laffer, would damage the economy if elected in 2020. “If, in fact, we have a change of administration in 2021 — on January 20th, a new president — I am very concerned about the future of America, just the way I was when Barack Obama took office.”
Laffer continued, “The great recession was caused by the prospects of Obama becoming president, and that is exactly what happened and had a horrible economy. So I think this election in 2020 is really, really, really important, and so far I don’t see a Democrat — now, I’ve voted Democrat half the time, I’m a Clinton Democrat, I’m a Kennedy Democrat, I’m a Reagan Republican, and I’m a Trump Republican — when I see this, I don’t see a Democrat who would be pro-growth and lead to more prosperity.”
“I would be very worried about the U.S. economy if Trump were to be defeated and if Republicans didn’t pick up the House and the Senate.”
“It would crush the economy,” said Laffer of a potential Bernie Sanders presidency. “People don’t work to pay taxes. They work to get what they can after tax, and it’s that very personal incentive that motivates people to apply that extra little bit to make a little bit more, to develop a little bit more, to hire a few more, and when you raise that tax rate, it has been demonstrably shown it causes real hardships in the economy.”
Laffer concluded, “Bernie Sanders’ ideas are just plain wrong. I’d love to debate him on it anytime.”
Breitbart News Daily broadcasts live on SiriusXM Patriot 125 weekdays from 6:00 a.m. to 9:00 a.m. Eastern.
Follow Robert Kraychik on Twitter @rkraychik.