{"id":3581,"date":"2012-05-14T16:21:41","date_gmt":"2012-05-14T21:21:41","guid":{"rendered":"http:\/\/www.vanderbilt.edu\/magazines\/vanderbilt-business\/?p=3581"},"modified":"2015-07-07T20:18:49","modified_gmt":"2015-07-07T20:18:49","slug":"laffer-proposes-taxing-pollution-not-income","status":"publish","type":"post","link":"https:\/\/blogs.owen.vanderbilt.edu\/vanderbiltbusiness\/laffer-proposes-taxing-pollution-not-income\/","title":{"rendered":"Laffer proposes taxing pollution, not income"},"content":{"rendered":"<figure id=\"attachment_3583\" aria-describedby=\"caption-attachment-3583\" style=\"width: 275px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3583\" title=\"Laffer-275\" src=\"https:\/\/magazine.owen.vanderbilt.edu\/wp-content\/uploads\/sites\/15\/legacy\/2012\/05\/Laffer-275.jpg\" alt=\"Laffer-275\" width=\"275\" height=\"268\" \/><figcaption id=\"caption-attachment-3583\" class=\"wp-caption-text\">Art Laffer speaking at Averbuch Auditorium<\/figcaption><\/figure>\n<p>Arthur B. Laffer, a renowned economist and longtime champion of conservative causes, proposed a novel approach to taxation at a forum held in Owen\u2019s Averbuch Auditorium Feb. 23. Laffer said he sees a fundamentally backward system in the United States, which imposes taxes on things people want more of\u2014income and jobs\u2014while allowing something we want less of\u2014carbon dioxide pollution\u2014to be emitted without penalty.<\/p>\n<p>The situation should be reversed, Laffer argued. Instead of tax increases that are \u201cveiled as \u2018cap and trade\u2019 schemes,\u201d he said, Congress should offset a simple carbon tax with a reduction in income or payroll taxes.<\/p>\n<p>Joining Laffer in the discussion was former U.S. Rep. Bob Inglis of South Carolina. \u201cArt Laffer is a conservative who\u2019s agnostic on climate change. I\u2019m a conservative who believes it\u2019s real,\u201d Inglis said. \u201cBoth of us see opportunity in changing what we tax. For Art, it\u2019s about his lifelong quest to reduce marginal tax rates. For me, it\u2019s that\u2014plus the opportunity to fix a market distortion that prevents the free enterprise system from delivering the fuels of the future.\u201d<\/p>\n<p>A member of President Reagan\u2019s Economic Policy Advisory Board between 1981 and 1989, Laffer is the Founder and Chairman of Nashville-based Laffer Associates, an economic research firm that provides global investment research services to institutional asset managers, pension funds, financial institutions and corporations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arthur B. Laffer, a renowned economist and longtime champion of conservative causes, proposed a novel approach to taxation at a forum held in Owen\u2019s Averbuch Auditorium Feb. 23. Laffer said he sees a fundamentally backward system in the United States, which imposes taxes on things people want more of\u2014income and jobs\u2014while allowing something we want [&hellip;]<\/p>\n","protected":false},"author":341,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[66,8],"tags":[67],"class_list":["post-3581","post","type-post","status-publish","format-standard","hentry","category-departments","category-inside-owen","tag-spring-2012"],"_links":{"self":[{"href":"https:\/\/blogs.owen.vanderbilt.edu\/vanderbiltbusiness\/wp-json\/wp\/v2\/posts\/3581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.owen.vanderbilt.edu\/vanderbiltbusiness\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.owen.vanderbilt.edu\/vanderbiltbusiness\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.owen.vanderbilt.edu\/vanderbiltbusiness\/wp-json\/wp\/v2\/users\/341"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.owen.vanderbilt.edu\/vanderbiltbusiness\/wp-json\/wp\/v2\/comments?post=3581"}],"version-history":[{"count":1,"href":"https:\/\/blogs.owen.vanderbilt.edu\/vanderbiltbusiness\/wp-json\/wp\/v2\/posts\/3581\/revisions"}],"predecessor-version":[{"id":8782,"href":"https:\/\/blogs.owen.vanderbilt.edu\/vanderbiltbusiness\/wp-json\/wp\/v2\/posts\/3581\/revisions\/8782"}],"wp:attachment":[{"href":"https:\/\/blogs.owen.vanderbilt.edu\/vanderbiltbusiness\/wp-json\/wp\/v2\/media?parent=3581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.owen.vanderbilt.edu\/vanderbiltbusiness\/wp-json\/wp\/v2\/categories?post=3581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.owen.vanderbilt.edu\/vanderbiltbusiness\/wp-json\/wp\/v2\/tags?post=3581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}