laffer

That tired old saw goes back to the Reagan administration which popularized a quack theory called "supply side economics" championed by economist Arthur Laffer.

"Whether the consumer is going to continue at this pace or not, we'll continue to see them spend. I think this is going to be a much better-than-advertised Christmas," said Nancy Tengler, CEO of Laffer Tengler Investments in Scottsdale, Arizona.

"There's a lot of conversation right now about what the next tax priorities of a potential Trump administration should be, including lower rates — which he clearly wants to do," Arthur Laffer, a Trump advisor and supply-side economist, told the Post.

Trump's economic advisors have also pondered new ideas for the United States' tax policy with some outside advisors beginning to discuss potential names for possible treasury secretary nominees, including former World Bank president David Malpass, former Trump White House National Economic Council Director Larry Kudlow and Laffer, who served as an advisor for former President Reagan.

When the conservative economists Arthur Laffer and Stephen Moore wrote a book to describe the policies of then President Donald Trump, they entitled it “Trumponomics: Inside the America First Plan to Revive Our Economy.”