Whats Fair When it Comes to Taxes?

[FRPLG]

Originally Posted by mlmpetert

^ I like Peter Schiff a lot (and not just for his first name) and hes clearly a really smart articulate dude. But Laffer was one of the many "smart" economist in the vast majority that were completely caught off guard with the economic collapse.

Im not say that makes his opinion any better, but he was wrong when everyone else was wrong. 2008 was a true "black swan" event (maybe even the originator of the term?) with more interwoven complexity then the US tax code so i cant really fault a guy for not seeing it coming. He is a of an arrogant ahole so from a personal standpoint, i dont like him either.

In retrospect it wasn't that complex. Schiff had it pegged almost as if he was a time-traveler. So many in that industry get caught up in a mental way that doesn't allow them to constructively think and analyze. PS didn't seem to have that problem and didn't seem to think his position was very outlandish. He simply looked at the data and connected the dots...everyone else looked at the data and started drawing their own dots to support their deeply held hopes that evrything was going to be awesome forever.