On Wednesday, March 11, the CROWE hosted Dr. Arthur Laffer for our spring event, “The Failure of Bidenomics: How Free-Market Policies Can Save America.”
Dr. Laffer addressed a crowd of about 200 UW-Madison students, faculty, and members of the Madison community, and discussed how taxes matter. In particular, he focused on the history of US tax policy, showing there was a strong correlation between the incentive rate (one minus the top tax rate) for top incomes and the level of their incomes. When tax rates increase, the wealthy earn less, report less, and shelter more income. When tax rates fall, the reverse happens.
Dr. Laffer walked through many of the episodes in this history, and illustrated the events in the latter periods with personal stories and anecdotes (having been centrally involved in many of them, particularly the fundamental Reagan tax reform).
Thank you for your continued interest and support of CROWE. We look forward to welcoming you at upcoming events in the next semester.