With the passing of Donald Rumsfeld this week, Art Laffer (Laffer Associates) has shared a reunion of the 1974 dinner where he, Don Rumsfeld and Dick Cheney (former Vice President), first discussed the concepts and economic tax policy that was depicted on a napkin and called the “Laffer Curve.”
Art Laffer has been a speaker at CIRT conferences on multiple occasions. He has stayed true to the original precepts of the napkin curve, which perfectly captured the true nature of how taxing impacts the amount of something you tax. It is a special moment in time, that changed economic policy in the nation -- enjoy.
The clip depicts a reenactment of the now-famous 1974 dinner between Laffer, Rumsfeld, Cheney and Jude Wanniski in which Dr. Laffer scribbled his Laffer Curve on a napkin for then-Ford Administration officials Rumsfeld and Cheney and journalist Wanniski. The original napkin from that dinner resides in the Smithsonian Institute.