“The Four Pillars of Reaganomics” The Heritage Foundation (January 16, 2007) from a November 13, 2006 speech
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The trade deficit is the capital surplus and don't ever think of having a capital surplus as being a bad thing for our country.
— Arthur Laffer
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "The trade deficit is the capital surplus and don't ever think of having a capital surplus as being a bad thing for our country." in the context of "“The Four Pillars of Reaganomics” The Heritage Foundation (January 16, 2007) from a November 13, 2006 speech" to mean that wisdom is timeless.
Source: Wikiquote: "Arthur Laffer" (, Quotes 2007)
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About Arthur Laffer
Arthur Betz Laffer (born August 14, 1940) is an American economist who first gained prominence during the Reagan administration as a member of Reagan's Economic Policy Advisory Board (1981–89). Laffer is best known for the Laffer curve, an illustration of the theory that there exists some tax rate between 0% and 100% that will result in maximum tax revenue for governments. Laffer is Policy Co-Chairman (with Lawrence "Larry" Kudlow) of the Free Enterprise Fund.
About Arthur Laffer
Arthur Betz Laffer (born August 14, 1940) is an American economist who first gained prominence during the Reagan administration as a member of Reagan's Economic Policy Advisory Board (1981–89). Laffer is best known for the Laffer curve, an illustration of the theory that there exists some tax rate between 0% and 100% that will result in maximum tax revenue for governments. Laffer is Policy Co-Chairman (with Lawrence "Larry" Kudlow) of the Free Enterprise Fund.
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