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Economics

The Guru of Supply-Side Economics Had a Very Good Election

Art Laffer declares victory in Kansas.

Art Laffer was used to wearing the black hat. For much of 2014, as polls showed Kansas Governor Sam Brownback in danger of losing re-election, progressives expected supply-side tax cuts to be rejected. That meant a rejection of Art Laffer, the Steven Spielberg of supply side, the man whose napkin illustration of how lower taxes meant higher revenue changed American policy forever in 1981. A generation later, Laffer stumped with Brownback, endorsing his deep tax-cut plans because "states without income taxes have grown much, much faster."

Most people expected Brownback to lose. Plenty of columnists, including Tom "What's the Matter with Kansas?" Frank, pre-wrote the obituary of supply-side. And then Brownback won, taking 98 of Kansas's 105 counties. Laffer's verdict on the election?