Donald Trump is set to award the Presidential Medal of Freedom to conservative economist Arthur ‘Art’ Laffer, Wednesday at the White House around 4:45 p.m., EST.
Laffer, a former economic adviser to President Ronald Reagan, is known as the father of supply-side economics, which rose to fame in the 1980s.
His theory, the “Laffer Curve,” establishes the concept that fewer regulations and lower tax rates would create economic growth, jobs, and investment.
Several economists disagree with his theory and do not believe that cutting taxes would stimulate the growth that tax-cutters say would occur.
Critics have dismissed supply-side economics as “trickle down economics” that enrich the wealthy and corporations at the expense of the middle class and the poor.
Laffer has been supportive of President Trump’s economic strategy for America, especially the tax cuts passed into law in 2017 which led to the publication of the book he wrote titled “Trumponomics: Inside the America First Plan to Revive Our Economy.”
The White House has faced backlash for awarding the Nation’s highest civilian honor to the controversial Laffer.
However, the White House, which is no stranger to controversy, seems unbothered.
In a press release, the White House called Laffer “one of the most influential economists in American history” praising the 78-year-old for his many accomplishments including the “Laffer Curve.”