Art Laffer on advice he gave Trump on payroll tax Former Reagan economics adviser Art Laffer says payroll tax ‘perfect way’ to reignite the economy. Art Laffer , a former economic adviser to President Reagan, told “ America’s Newsroom ” on Tuesday that he spoke with President Trump on the phone the day before about a payroll tax cut and said he thinks it’s “a perfect way to really reignite the economy ” by “creating jobs , output and employment.”
“If you want more employment, you want to tax employment less and then you’ll get the jobs created,” Laffer explained, adding that a payroll tax cut “really does work.”
“If you want to redistribute income it’s probably a very inefficient way of doing it through the payroll tax,” he continued. “You should write people a check and the two distinctions between redistribution and creating jobs, you shouldn’t mix those two.”
Trump said Sunday that he would consider ” not signing ” a fourth round of coronavirus relief funding if it doesn’t include a payroll tax cut.
The White House and Congress are expected to cobble together a “phase four” coronavirus relief bill as many Americans’ financial futures remain uncertain because of COVID-19.
White House […]
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