Supply-side economics be the case. Paul Samuelson called this notion "the tape worm theory—the idea that the way to get rid of a tape worm is [to] stab your patient in the stomach". There is frequent confusion on the meaning of the term "supply-side economics" between the related ideas of the existence of the Laffer Curve and the belief that decreasing tax rates can increase tax revenues. Many supply-side economists doubt the latter claim while still supporting the general policy of tax cuts. Economist Gregory Mankiw used the term "fad economics" to describe the notion of tax rate cuts increasing revenue in
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