Laffer Likes Haslam

Republican Gubernatorial candidate Bill Haslam picked up a key Nashville endorsement Wednesday.

Known as the “Father of Supply-side Economics,” Arthur Laffer likes Haslam because of his fiscal record as mayor of Knoxville and his commitment to free market principles.

Laffer developed the Laffer Curve, which illustrates that increasing tax rates beyond a point will actually decrease tax revenues. He was a member of President Ronald Reagan’s Economic Policy Advisory Board and chief economist for the Office of Management and Budget in the early 1970s. He says Haslam’s policies are in line with Reagan’s economic principles. Laffer says “pro-growth economics” are what the state needs to remain prosperous.