Dick Cheney, Donald Rumsfeld and Arthur Laffer on the Dinner Napkin that Changed the Economy

Dec. 4 (Bloomberg) –- For its 85th anniversary, Bloomberg Businessweek chronicles the most disruptive ideas of the past 85 years. In 1974, economist Arthur Laffer sketches his theory of tax policy over dinner with Wall Street Journal writer Jude Wanniski and Ford administration officials Donald Rumsfeld and Dick Cheney, kick-starting the rise of supply-side economics. Forty years after one of the most famous dinner-napkin doodles in American history, Laffer, Cheney, and Rumsfeld reunited at that same restaurant. (Video by Brandon Lisy. Music by AndyClausen) (Source: Bloomberg)

[proactivex]

couple of old high school buddies sitting around deciding how its gonna be for hundreds of millions of people.

[lexus]

On the other napkin that is kept in Cheney's night stand as a memento they laid out how Iraq's oil will be divided between them, how many civilians they will mulch and what kind of torture will they do in Guantanamo.

[andrub]

War criminals talking about stealing from ordinary people. And laughing about it. Who would have thought...

[mattiamalevolti]

Milton Friedman commented: "If you cut taxes and revenue raises, you've not cut them enough."

[kvps]

How was this not obvious the second someone invented taxation?

[springball]

How can these old farts be so self congratulatory and animated over such a simple concept?

[tiamatxvxianash]

While I am not someone who has any level of knowledge when it comes to economics, I do appreciate the context of this moment in time. It made me recall the controversial "percentages" agreement between Stalin and Churchill in October 1944 when they carved up their areas of interest in the Balkan nations. Perhaps as there were no napkins on the table at that time, a small piece of paper had to suffice for the details of their agreement.
Like has been stated many times in the past, it is not the parliments, committee's or endless meetings that come up with the important decisions that need to be made in shaping history. It is done by the movers and shakers like this "Coffee Table Triumvirate" and Churchillian heads of state. Certainly these pieces of paper and napkins eventually have to be handed over or at least disclosed as to the details thereof to the appropriate committee's for the implementation of their decisions at some point afterwards. Yet it is never the resulted multi-volumed books that are turned into this Bill or that Declaration that is ever remembered in the end. It is only the pieces of paper and napkins that are; whenever of course they are no longer classified.

[zo]

It's nice a war criminal can have lunch

[prateekraisinghani]

Where is the scientific evidence behind the graph?

[ShermerHighSchool]

Man is the reporter a lucky person. I would have given everything to sit at that table for 1 minute. Legends!

[elmofreen]

God bless Reagan, Rumsfeld, Cheney and Dr Laffer. Men that cared and care about our country

[smoofan]

Excuse me, I meant the optimal rate for raising revenue.

[BryanBloom]

This was a great video, thank you for sharing. Art Laffer is one of the best, a brilliant economist and quite a showman as well. I was an Econ major in College and not many professors could have such a great stage presence.

[mdesm]

Three great guys who help keep America strong and on the right path.  Seems like the other folks commenting on this post would be happier in Russia.  Go ahead.

[KCMFCs]

"I don't want that trash." Well, we're all living with it now Don. Thanks. Smdh

[gjn]

So if I have 2 bucks, I can buy a Snickers bar . But if I’m broke, I can’t. , I’m a freakin guinious

[catman]

Happy for these three. Happy to see the haters are still hating
:)

[youtubecommenter]

Dick having the largest soda but have to pump all that sugar around on an artificial heart, 5:23

[festy]

「After President Reagan’s election, Art served on the President’s Economic Policy Board .He played a vital role in both the 1981 and 1986 tax rate cuts which ultimately lowered the top marginal tax rate from 70 percent to 28 percent .That’s not bad . That’s pretty big reduction, I would say .The Reagan economy soared, creating sustaind economic growth, shrinking poverty, expanding incomes and dramatically increasing federal revenue .」
2020 Donald TRUMP said.
Only Admiraton！

[N.M.T.K]

Classified... is a Code Word for 'Cover Up'