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

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Bloomberg Originals

Bloomberg Originals

9 жыл бұрын

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)

Пікірлер: 86
@proactivex
@proactivex 5 жыл бұрын
couple of old high school buddies sitting around deciding how its gonna be for hundreds of millions of people.
@orueom7720
@orueom7720 2 жыл бұрын
Story as old as time
@andrub23
@andrub23 9 ай бұрын
War criminals talking about stealing from ordinary people. And laughing about it. Who would have thought...
@OFFICIALUND
@OFFICIALUND 6 ай бұрын
Pretty sure Laffer has never advised on a single military-related thing. Cope harder.
@mattiamalevolti2545
@mattiamalevolti2545 3 жыл бұрын
Milton Friedman commented: "If you cut taxes and revenue raises, you've not cut them enough."
@kvps27
@kvps27 3 жыл бұрын
How was this not obvious the second someone invented taxation?
@KC2MFCs
@KC2MFCs 2 жыл бұрын
Because it's not true. See Voodoo economics
@OFFICIALUND
@OFFICIALUND 6 ай бұрын
Because leftists (and their mentally-handicapped kin) exist.
@springball
@springball 4 жыл бұрын
How can these old farts be so self congratulatory and animated over such a simple concept?
@LuisRomeroLopez
@LuisRomeroLopez 3 жыл бұрын
Probably wans't that obvius back then.
@OFFICIALUND
@OFFICIALUND 6 ай бұрын
The fact that you think it's simple is exactly why they feel so animated. You've been affected by it. Their influence is that vast.
@lexus8018
@lexus8018 2 ай бұрын
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.
@zo62
@zo62 9 жыл бұрын
It's nice a war criminal can have lunch
@andymartin2571
@andymartin2571 8 жыл бұрын
+zo62 What a putz.
@BryanBloom
@BryanBloom 7 жыл бұрын
Putz, one of my favorite words
@Vele1267
@Vele1267 Ай бұрын
War criminal? Give me a break there is no evidence of this whatsoever, congress voted to go to war the UN security council approved it. Those are the facts..
@tiamatxvxianash9202
@tiamatxvxianash9202 9 ай бұрын
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.
@prateekraisinghani4578
@prateekraisinghani4578 5 жыл бұрын
Where is the scientific evidence behind the graph?
@climatescientist
@climatescientist 5 жыл бұрын
if you want to pay higher taxes you cam, trust me the IRS won't mind and it IS WHO YOU ARE so do it and don't tout it either. Just do it and all will be well
@proactivex
@proactivex 5 жыл бұрын
@My Thoughts it could be more scientific than asking one guy
@felixbonneau1834
@felixbonneau1834 4 жыл бұрын
A restorant napkin
@davidhoran7116
@davidhoran7116 3 жыл бұрын
“ *hic* t-trust me man, *hic* I swear this’ll work, hear me out”
@michaeljoukowsky3995
@michaeljoukowsky3995 3 жыл бұрын
Its pretty simple. If you are taxed 100% of your income what are your going to do? Keep working? I do not think so. And therefore the government will receive 0. Is that scientific enough?
@BryanBloom
@BryanBloom 7 жыл бұрын
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.
@HTHAMMACK1
@HTHAMMACK1 4 жыл бұрын
Art Laffer is a moron who was responsible for the disaster sky high budget deficits and economic problems that stemmed from the Reagan administration.
@KC2MFCs
@KC2MFCs 2 жыл бұрын
Um, no
@mikequinlivan8842
@mikequinlivan8842 Жыл бұрын
The whole “curve” idea is 700 years old. And the “tax revenue collected” is totally wrong! You’ve made a video about a piece of trash napkin that has messed up the economy for the past 40 years.
@ShermerHighSchool
@ShermerHighSchool 5 жыл бұрын
Man is the reporter a lucky person. I would have given everything to sit at that table for 1 minute. Legends!
@terrycools6731
@terrycools6731 3 жыл бұрын
Then you are more of a moron than they are! Congrats! Moron
@terrycrichton
@terrycrichton 3 жыл бұрын
Lol wtf? Did you teleport here from 2002? I didn't think there was anybody left on earth out of touch or dumb enough to hero worship these mass murdering crooks.
@orueom7720
@orueom7720 2 жыл бұрын
@@terrycools6731 you're a loser.
@KC2MFCs
@KC2MFCs 2 жыл бұрын
A neocon who started an illegal war on a false premise, a neocon who justified torture and shot his best friend, and a charlatan economist. Yeah quite a trio
@Unborn-Stillborn
@Unborn-Stillborn 11 ай бұрын
You mean criminals
@smoofan9423
@smoofan9423 8 жыл бұрын
Excuse me, I meant the optimal rate for raising revenue.
@g86jn1
@g86jn1 5 жыл бұрын
So if I have 2 bucks , I can buy a Snickers bar . But if I’m broke , I can’t. ,,,,,omfg , I’m a freakin guinious
@KC2MFCs
@KC2MFCs 2 жыл бұрын
"I don't want that trash." Well, we're all living with it now Don. Thanks. Smdh
@mdesm2005
@mdesm2005 9 жыл бұрын
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.
@sandylt8124
@sandylt8124 6 жыл бұрын
mdesm2005 you, too, are freaking delusional or just freakingly, incredibly, mind-numbingly DUMB.
@alvarolopez8448
@alvarolopez8448 5 жыл бұрын
@@sandylt8124 Just because
@SHAOLINSLUMSS
@SHAOLINSLUMSS 4 жыл бұрын
Sandy lt Lmaoo love these comments
@BarnoRenfro
@BarnoRenfro 4 жыл бұрын
if you remove sanctions from russia and iran All world be happy because these two love shopping.
@KC2MFCs
@KC2MFCs 2 жыл бұрын
It's more like THEY want make the US Russia instead. So close
@catman351
@catman351 5 жыл бұрын
Happy for these three. Happy to see the haters are still hating :)
@terrycools6731
@terrycools6731 3 жыл бұрын
You are a moron anti-American
@elmofreen5552
@elmofreen5552 7 жыл бұрын
God bless Reagan, Rumsfeld, Cheney and Dr Laffer. Men that cared and care about our country
@sandylt8124
@sandylt8124 6 жыл бұрын
Elmo Freen you are completely delusional or just freaking dumb.
@Johnsmith99663
@Johnsmith99663 5 жыл бұрын
Lmao
@c8Lorraine1
@c8Lorraine1 5 жыл бұрын
Really ??? I’m in Australia and even I can recognise a war criminals
@Hawkgoulet
@Hawkgoulet 5 жыл бұрын
You are very mistaken.
@SHAOLINSLUMSS
@SHAOLINSLUMSS 4 жыл бұрын
Elmo Freen LMAOOOO
@sano0311
@sano0311 3 ай бұрын
Club of warcriminals
@savagex466-qt1io
@savagex466-qt1io 3 жыл бұрын
Members of the Enclave no doubt.
@youtubecommenter4069
@youtubecommenter4069 4 жыл бұрын
Dick having the largest soda but have to pump all that sugar around on an artificial heart, 5:23
@OFFICIALUND
@OFFICIALUND 6 ай бұрын
Lol at you having no idea that diet soda has zero sugar.
@michaelfurberry3330
@michaelfurberry3330 Жыл бұрын
RICH FRIENDS
@N.M.T.K
@N.M.T.K 4 жыл бұрын
Classified... is a Code Word for 'Cover Up'
@user-qt6cc6dm2r
@user-qt6cc6dm2r Жыл бұрын
Thats true europe is older.
@festy1987
@festy1987 3 жыл бұрын
「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!
@terrycools6731
@terrycools6731 3 жыл бұрын
Yea....a corporate tax reduction that allowed for the shrinking of the middle class, the growth of extreme poverty even for full-time workers, and extra vacation homes for CEOs and stockholders. AKA: spoils for the rich and crumbs for the rest. Created this shitty fake economy we have today where average people can't afford a $400 emergency. F U and those policies
@khanhquach3088
@khanhquach3088 4 жыл бұрын
Khoản viện trợ 10 năm dành cho israel trị giá 5000 tỷ usd. Đã ký tiền tươi êkip Khánh cua tony Blair donald rumsfeld
@lucigalaxi3652
@lucigalaxi3652 3 жыл бұрын
Really?
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