If you think about it, the Laffer curve is kind of the opposite of a Ponzi scheme: it argues that we must put less and less money into the scheme to keep it going, and in fact we make more money the less we put in.
It is one of those ideas that is so stupid yet so simple and tempting to believe in that it nevertheless catches on, in spite of all evidence to the contrary.
Now it looks as if Arthur Laffer has moved on to more traditional hucksterism....
By Cameron Langford
January 11, 2012 | Courthouse News Service