Laffer curve United States fell from 70% to 31%. David Stockman, Ronald Reagan's budget director during his first administration and one of the early proponents of supply-side economics, was concerned that the administration did not pay enough attention to cutting government spending. He maintained that the Laffer curve was not to be taken literally—at least not in the economic environment of the 1980s United States. In "The Triumph of Politics", he writes: "[T]he whole California gang had taken [the Laffer curve] literally (and primitively). The way they talked, they seemed to expect that once the supply-side tax cut was in effect, additional
George Laffer George Laffer George Richards Laffer (14 September 1866 – 7 December 1933) was an Australian politician. He was member of the South Australian House of Assembly from 1913 until 1933, representing the electorate of Alexandra for the Liberal Union, and its successors the Liberal Federation and Liberal and Country League. He was a minister in the Barwell government, and was Speaker of the South Australian House of Assembly from 1927 until 1930. Laffer was born at Coromandel Valley into a fruit-growing family, his father having emigrated from Cornwall in 1840. He continued in the family business, and was actively involved