The End of Prosperity

Arthur Laffer, Stephen Moore, and Peter Tanou talked about their book The End of Prosperity: How Higher Taxes Will Doom the Economy - If We Let it Happen (Threshold Editions; October 14, 2008). In the book the authors argue that the standard of living that they say has made the U.S. the envy of the world would be lost if the new administration reverses supply-side economics policies. The authors are critical of the policies of Presidents Bush and Obama, while praising those of Presidents Clinton and Reagan. They argue that higher tax rates lead to less revenue, that energy independence is not a reasonable goal, and that trade should not be used as a weapon. Points they make include refuting common wisdom about the success of the New Deal and that the economic situation that President Obama inherited was worse than what faced President Reagan. They also talked about the relationship of politics, partisanship, and policies. The authors interacted with members of the audience at Dezenha close