President Donald Trump is preparing to announce a second coronavirus task force solely focused on reopening the nation's economy, multiple sources told CNN. This now seems to be a trial balloon at present.

Making Arthur Laffer the economic recovery Czar could signal the depth of the coming recession.

OTOH dinner napkins will do double duty as masks with proper folding. Because Phase One = Tax Cuts. If Laffer chooses to tax non-profits, perhaps finally churches will get taxed, as some libertarians have suggested.

Heck, have Laffer share the role with fellow Medal of Freedom recipient Rush Limbaugh. Ben Carson can sew their heads together live on TV because tele-health.


President Donald Trump is preparing to announce a second coronavirus task force solely focused on reopening the nation's economy, multiple sources told CNN.

Senior aides such as Treasury Secretary Steven Mnuchin and National Economic Council Director Larry Kudlow have been solely focused on the issue of restarting a wounded American economy for weeks, along with a coterie of aides.

More recently, based on Laffer curve arguments, Kansas Governor Sam Brownback greatly reduced state tax rates in 2012 in what has been called the Kansas experiment.[36][37] The state, which had previously had a budget surplus, experienced a budget deficit of about $200 million in 2012. Drastic cuts to state funding for education and infrastructure followed[38] before the tax cut was repealed in 2017.
Laffer assumes that the government's revenue is a continuous function of the tax rate. However, in some theoretical models, the Laffer curve can be discontinuous, leading to an inability to devise a revenue-maximizing tax rate solution.[60] Additionally, the Laffer curve depends on the assumption that tax revenue is used to provide a public good that is separable in utility and separate from labor supply, which may not be true in practice.[61]
The Laffer curve as presented is simplistic in that it assumes a single tax rate and a single labor supply. Actual systems of public finance are more complex, and there is serious doubt about the relevance of considering a single marginal tax rate.[4] In addition, revenue may well be a multivalued function of tax rate; for instance, an increase in tax rate to a certain percentage may not result in the same revenue as a decrease in tax rate to the same percentage (a kind of hysteresis). Furthermore, the Laffer curve does not take explicitly into account the nature of the tax avoidance taking place. It is possible that if all producers are endowed with two survival factors in the market (ability to produce efficiently and ability to avoid tax), then the revenues raised under tax avoidance can be greater than without avoidance, and thus the Laffer curve maximum is found to be farther right than thought. The reason for this result is that if producers with low productive abilities (high production costs) tend to have strong avoidance abilities as well, a uniform tax on producers actually becomes a tax that discriminates on the ability to pay. However, if avoidance abilities and productive abilities are unrelated, then this result disappears.[62]…

But in recent days, inside and outside advisers have appealed to Trump to formally create a separate task force in order to streamline the process so it can focus primarily on reopening the economy. This task force would likely include senior staff from the Treasury Department, the National Economic Council, the Labor Department and the Department of Commerce.
But it wouldn't only have administration officials involved. There has been outreach to figures such as Gary Cohn, Blackstone CEO Steve Schwarzman, Art Laffer and even major sports teams and well-known athletes.
Other Trump allies have proposed naming a recovery “czar” from the private sector to oversee efforts to revive the consumer economy and address unemployment after coronavirus forced the closure of businesses across sectors.
Influential conservatives have floated Laffer as the leader of the task force, and he has presented some ideas to senior White House aides on a plan to revive the economy. His plans have included a proposal to tax nonprofits, cut the pay of some public officials and offer a payroll tax holiday.
Trump awarded Laffer a presidential medal of freedom last year, but the White House hasn't yet offered him a position on a new panel, according to a senior administration official.…


More likely, a second COVID wave prior to the November election will serve GOP voter suppression efforts.



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