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Arthur Laffer: Trump and Speaker Ryan, Have 'Matured, Evolved'

Image: Arthur Laffer: Trump  and Speaker Ryan, Have 'Matured, Evolved'
President Donald Trump and Speaker of the House Paul Ryan (Alex Wong/Getty Images)

By    |   Sunday, 07 May 2017 09:46 AM

President Donald Trump's administration is getting over the learning curve and so too has House Speaker Paul Ryan, R-Wis., with the passing of the Obamacare repeal and replacement in the House this week, a former economic adviser to President Ronald Reagan said Sunday.

"What you are seeing happening is the evolution, a very quick evolution, of an administration," economist Dr. Arthur Laffer told told "The Cats Roundtable" on 970 AM-N.Y. "As time goes on, it evolves into a working machine."

Laffer praised the direction the economy is headed under President Trump and even the maligned House Speaker Ryan is enjoying a revival.

"What happened with Paul Ryan in getting that healthcare bill passed, shows you exactly how Paul Ryan has matured immensely as Speaker of the House and is working with Trump beautifully," Laffer host John Catsimatidis.

Like President Trump, Speaker Ryan survived the "school of hard knocks" and not having stalemated politics suck away his "youthful enthusiasm."

"Paul Ryan is just about perfect right now," Laffer added.

After the Ryan-led healthcare reform, the next major agenda item will be tax reform, which will stimulate growth in the economy and lure business back to the U.S. – and we can sit back and "watch and enjoy this bull market," Laffer said.

"What Trump wants to do is drop [the corporate tax rate] from 35 percent to 15 percent, which would bring all those companies back to the U.S., in fact, probably would attract some foreign companies that want to switch their tax jurisdiction to the U.S.," Laffer told Catsimatidis. "I think it will create jobs, output, employment, production. And I think it will also increase revenues to the federal government, to be honest."

In addition to the expected Reagan-era-like growth, Laffer said having such a low corporate tax rate will entice companies to stop spending money on "sheltering income" with the employment of lawyers and tax specialists and effectively pay more tax, because it is cheaper to pay 15 percent tax than for  those specialists to find the loopholes to avoid the 35-percent tax rate.

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President Donald Trump's administration is getting over the learning curve and so too has House Speaker Paul Ryan, R-Wis., with the passing of the Obamacare repeal and replacement in the House this week, a former economic adviser to President Ronald Reagan said Sunday."What...
art laffer, ryan, trump, legislation, maturing
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2017-46-07
Sunday, 07 May 2017 09:46 AM
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