Arthur Laffer, the architect of Ronald Reagan’s economic plan, announced today that he is endorsing Newt Gingrich for president.
“Newt has the best plan for jobs and economic growth of any candidate in the field,” said Laffer, the renowned economist who is the father of The Laffer Curve and supply-side economics.
“Like Ronald Reagan’s tax cuts and pro-growth policies, Newt’s low individual and corporate tax rates, deregulation. and strong dollar monetary policies will create a boom of new investment and economic growth leading to the creation of tens of millions of new jobs over the next decade,” Laffer declared. “Plus, Newt’s record of helping Ronald Reagan pass the Kemp Roth tax cuts and enacting the largest capital gains tax cut in history as speaker of the House shows he can get this plan passed and put it into action.”
Laffer, who will join Gingrich in Storm Lake, Iowa, Thursday for a formal news conference announcing the endorsement, said, “Rebuilding the America we love requires returning to job creation and economic growth. We need big changes to fix the economy, and I am ready to stand up to Barack Obama’s class warfare rhetoric to make the case that letting the American people keep more of what they earn is the best way to create jobs.”
Laffer is the founder and chairman of Laffer Associates, an economic research firm in Nashville, Tenn., focusing on interconnecting macroeconomics, political, and demographic changes affecting global financial markets.