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Toggle open close The story of how the Laffer Curve got its name begins with a 1978 article by Jude Wanniski in The Public Interest entitled, Taxes, Revenues, and the Laffer Curve. 1 As recounted by Wanniski (associate editor of The Wall Street Journal at the time), in December 1974, he had dinner with me (then professor at the University of Chicago), Donald Rumsfeld (Chief of Staff to President Gerald Ford), and Dick Cheney (Rumsfeld s deputy and my former classmate at Yale) at the Two Continents Restaurant at the Washington Hotel in Washington, D.C. While discussing President Ford s WIN (Whip Inflation Now) proposal for tax increases, I supposedly grabbed my napkin and a pen and sketched a curve on the napkin illustrating the trade-off between tax rates and tax revenues. Wanniski named the trade-off The Laffer Curve. ....
Beyond the pandemic May 3, 2021 The Center on Social Policy at Columbia University has estimated that the American Rescue Plan will cut the child poverty rate by as much as 56 percent this year, which would affect children of all races. The poverty rate for Black, Hispanic, and Indigenous children, who are disproportionately affected by both poverty and Covid-19, would decline by 52 percent, 45 percent and 61 percent percent, respectively. However, as the Children’s Defense Fund’s Director of Poverty Policy, Emma Mehrabi, cautions, “Th[is] data will only live up to its projections if families – especially the hardest to reach – know about the benefits [offered through the plan] and can easily access them. So we need to make sure that families and communities on the ground are aware of this program, and we need to work aggressively to get them signed up.” ....
Addressing Child Poverty Beyond the Pandemic Illustration by Ada daSilva/Getty Images The economic impact of the pandemic has created an opportunity for the federal government to reconsider its traditional responses to poverty and unemployment. Apr 29, 2021 In the Frontline documentary “Growing Up Poor in America,” 13-year old Ohioan Shawn and his mother and baby sister were subsisting on $885 a month in benefits during the early days of the pandemic half in food stamps and half in rent assistance for their trailer. Shawn’s mother had been diagnosed with kidney disease, yet still had to risk exposing herself to COVID-19 by “working off” hours required to receive her benefits at the local Salvation Army. Shawn tried his best to help at home as a so-called “brother-father” to his younger sibling. This included taking her to get free lunches for school-age kids at McDonald’s. “To climb out of poverty is probably a really hard struggle,” Shawn says ....