"Trickle Down" Laffer's company reaped millions while urging halt to CV-19 relief for citizens.

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Company linked to Trump adviser got millions in coronavirus aid as he urged GOP to cut relief

June 27, 2020
By Igor Derysh, Salon

Art Laffer, a longtime economic adviser to President Donald Trump, urged Republicans against funding additional coronavirus relief even as a company in which he held stock cashed in on tens of millions in small business aid.



Laffer, who popularized the idea of “trickle-down economics” and advised Trump on tax cuts and coronavirus relief, called for the president and Senate Republicans to “cut the [coronavirus] spending” in a letter released on June 16.

“There is no limit to worthy causes, but there is a limit to other people’s money,” the letter addressed to Trump and Senate Majority Leader Mitch McConnell, R-Ky., and signed by 20 prominent Republicans, including Laffer, fellow Trump adviser Stephen Moore and tax-cut zealot Grover Norquist, said. “The inside-the-Beltway crowd falsely calls these trillions of dollars a ‘stimulus’ to the economy. But government can only give money to some people, as Nobel-prize winning economist Milton Friedman taught all of us many years ago, by taking money from others.”

But a company in which Laffer owned stock and served as a director for years had no problem “taking money from others” when it announced it received nearly $20 million in forgivable loans under the Paycheck Protection Program (PPP). (Disclosure: Salon received a PPP loan to keep our staff and independent journalism at 100%.)

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At the end of last year, Laffer appears to have held nearly $154,000 in GEE Group shares at the company’s closing price of $0.39 per share on Dec. 23, according to a Securities and Exchange Commission filing. The stock holdings were in addition to the $26,000 in stock awards he earned from the company last year.

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https://www.rawstory.com/2020/06/company-linked-to-trump-adviser-got-millions-in-coronavirus-aid-as-he-urged-gop-to-cut-relief/

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"Drain the swamp," indeed. This isn't an "administration," it's a crime spree. laffer has been an economic horror show for 40 years and shows no sign of stopping. He looks like a sleazy televangelist.

[North Shore Chicago]

1. No end

There is no end to their depravity to other people and their sufferings. You can see their blackness, their evil oozing out of them from the inside, ala trump, Kellyanne, Stephen, Jared, Ivanka.....

They can not be kicked to the curb fast enough!

[Laelth]

2. I despise that guy. n/t

-Laelth

[I_UndergroundPanther]

3. This is not an adminstration

It's a crime spree.
Can I steal that catbyte ?

[catbyte]

6. Of course!

[Cicada]

4. Opposing govt funding for your company is not a bad thing

Laffer got an economic benefit from the government. Arguing that the government should not spend money which enriches you is the opposite of corrupt. Laffer’s economic theories seem incorrect but I view him as dumb, not crooked.

[Midnight Writer]

5. Laffer is a professional crank, no different than a Limbaugh or a Hannity.