Arthur Laffer Paints a Bleak Economic Picture

Seattle : WA : USA | Jun 11, 2010 at 4:19 AM PDT

By Samantha86

3 0

Arthur LafferArthur Laffer is predicting that the US economy will collapse in 2011 when BushBush’s Tax Cuts expire in 2010

Arthur Laffer recently wrote in the Wall Street Journal, talking about the Tax Hikes and the 2011 Economic Crisis, which according to him will surely hit America due to the expiration of the Tax Cuts in 2010.

Arthur Laffer has come up with the theory on the Obama Tax Plan, according to which the rich can design ways to evade taxes by choosing when and how to collect their incomes.

According to Arthur Laffer, the economy is in a good shape these days because the super rich are earning and spending a lot this year before the taxes take a hike. According to him when next year, the taxes will take a hike, these rich people won’t be reporting a lot of earnings and hence the government’s tax revenue will be lower resulting in the crisis.

Arthur Laffer’s new theories are a point of hot discussion these days but it remains to be seen whether anything will be done to fix the upcoming crisis.

Samantha86 is based in New York City, New York, United States of America, and is an Anchor for Allvoices.

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