38:, the son of Constance, who worked at an accounting firm, and Michael Wanniski, an itinerant butcher. His father was of Polish descent and his mother was a Scottish immigrant. When he was still very young, his family moved to Brooklyn, where his father became a book binder. His grandfather was a Pennsylvania coal miner and a dedicated Communist who gave his grandson a copy of
131:
at the
International Islamic Conference, hosted by the Nation of Islam, in conjunction with the World Islamic Peoples Leadership. It may have been the single most important political event I have witnessed in my life. ... What made the event so important was that when the weekend began, Farrakhan was
175:
A simplified view of the theory is that tax revenues would be zero if tax rates were either 0% or 100% and somewhere in between 0% and 100% is a tax rate that maximizes total revenue. Laffer's postulate was that the tax rate that maximizes revenue was at a much lower level than previously believed,
135:
Polyconomics as a corporation ceased operations on June 30, 2006, ten months after
Wanniski's death, but the name (a combination of "politics" and "economics") lives on at The Polyconomics Institute, where one can find the Wanniski's collected works for Polyconomics, as well as correspondence with
453:
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According to
Wanniski, the theory is simple. In 1976, he wrote that the Two-Santa Claus Theory suggests that "the Republicans should concentrate on tax-rate reduction. As they succeed in expanding incentives to produce, they will move the economy back to full employment and thereby reduce social
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appeal to voters by proposing programs to help people, then the
Republicans cannot gain broader appeal by proposing less spending. The first "Santa Claus" of the theory title refers to the Democrats who promise programs to help the disadvantaged. The "Two Santa Claus Theory" recommends that the
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At the time of his death, Wanniski was at the low point of his political influence, according to longtime friend Robert Novak. He was running his economic consultancy from its
Parsippany offices. He spoke of having many Wall Street clients, although he complained that some had left due to his
204:
pressures for public spending. Just as an increase in
Government spending inevitably means taxes must be raised, a cut in tax rates—by expanding the private sector—will diminish the relative size of the public sector." Wanniski suggested this position, as left-liberal observer
266:. Wanniski not only recognized the prospective importance of the Iraqi WMD question before other journalists, but also argued correctly that Iraq had no WMD and stated that the US would never allow UNSCOM to end the inspections regime regardless of what Iraq did.
132:
the spiritual leader of 200,000 members of the Nation of Islam and clearly the most influential of 33 million
African-Americans. At its conclusion, Farrakhan stands a good chance at uniting 1.2 billion Muslims under his spiritual leadership."
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politics. He posted personal commentaries several times a week on his personal website, on topics ranging from international politics and trade policy to reviews of films.
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said, in the introduction to the 20th anniversary edition (1998) of the book, that it was one of two books that "shaped mature philosophy of politics and government." (
405:, while working at his desk. He was survived by his wife, Patricia, and children Matthew, Andrew, Jennifer Harlan, his brother Terrance Wanniski and sister Ruth Necco.
902:"Two Santa Clauses or How The Republican Party Has Conned America for Thirty Years | Common Dreams | Breaking News & Views for the Progressive Community"
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has clarified, so that the
Democrats would "have to be anti-Santas by raising taxes, or anti-Santas by cutting spending. Either one would lose them elections."
657:
284:—one whose decisions as commander-in-chief have made the world a more dangerous place." Eventually Wanniski endorsed the 2004 Democratic candidate, Senator
110:. He helped design the tax cuts made during Reagan's first term in office. His formal role as a Reagan adviser ended after an interview he gave to the
389:. The extensive interview was never published in either publication, and Wanniski posted it on his website in the context of a memorandum to Senator
95:
In 1978, Wanniski started
Polyconomics, an economics forecasting firm, where he and his analysts advised corporations, investment banks and others.
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Many economists were skeptical that it was true in practice. Wanniski suggested that the United States was on the wrong side of the Laffer curve.
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He became a somewhat controversial figure in the conservative movement at the beginning of 2003, when he vocally opposed the impending
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Starting in 1987, Wanniski edited an annual "Media Guide" in which he rated pundits on a four-star scale. Some conservatives, such as
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became a supply-side economics advocate due to
Wanniski's tutelage, and would work to put his proposals into legislative practice.
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Republicans must assume the role of a second Santa Claus by not arguing to cut spending but offering the option of cutting taxes.
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Wanniski consistently advocated the reduction of trade barriers, the elimination of capital gains taxes, and a return to the
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In 1998, Wanniski attempted to foster dialogue between Louis Farrakhan and those who had labeled him
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52:
After college, Wanniski worked as a reporter and columnist in Alaska. From 1961 to 1965 he worked at
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55:
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85:. He left after being discovered at a New Jersey train station distributing leaflets supporting a
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Wanniski suggested, without any data, that we were on the inefficient side of the Laffer curve.
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is a political theory and strategy published by Wanniski in 1976, which he promoted within the
877:"Jude Wanniski: Taxes and a Two-Santa Theory | Stan Collender's Capital Gains and Games"
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was the result of the Smoot–Hawley tariff, rather than any failure of classical economics.
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Republican Party. The theory states that in democratic elections, if members of the rival
8:
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Wanniski was instrumental in popularizing the ideas of lower tax rates embodied in the "
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In the late 1990s, Wanniski developed a friendship with the controversial leader of the
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so low that current tax rates were above the level for revenue to be maximized.
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He also began directly advising politicians on economic policy, first candidate
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582:"Jude Wanniski, 69, Journalist Who Coined the Term 'Supply-Side Economics'"
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but had found and destroyed all of Iraq's WMD programs with the help of
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was named one of the 100 most influential books of the 20th century by
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theories. He, however, thought the actual phrase should be credited to
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American journalist, conservative commentator, and political economist
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552:"Jude Wanniski, 69, Provocative Crusader for Supply-Side Economics"
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502:"JUDE WANNISKI - Polish-American Journal | HighBeam Research"
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was published under the headline "The Battle for Reagan's Mind."
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688:"Gary Younge on Wanniski and Farrakhan's strange relationship"
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as a political columnist, where he taught himself economics.
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Wanniski's last published work was an article for the 2005
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Wanniski is also notable for his journalism on the alleged
604:"Father of supply side: An advocate who changed the world"
373:. He arranged for Farrakhan to be interviewed by reporter
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to distinguish it against the more dominant "demand-side"
856:
Jude Wanniski (1976a). "Taxes and a Two-Santa Theory".
401:
Wanniski died of a heart attack on August 29, 2005, in
879:. Capitalgainsandgames.com. 2010-05-06. Archived from
813:. Princeton: Princeton University Press. p. 45.
734:"Prophet Motive: Jude Wanniski, the GOP's odd man in"
26:, conservative commentator, and political economist.
996:"The Open Mind – A Gourmet Guide to the News (1988)"
851:
849:
632:. Archived from the original on December 22, 2005.
92:candidate, an act considered an ethics violation.
22:(June 17, 1936 – August 29, 2005) was an American
308:Wanniski has been credited with coining the term
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923:"Memos on the Margin-990413 Propaganda Wars #2"
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429:Perspectives on capitalism by school of thought
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164:drew the curve on the famous napkin for
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712:"Polyconomics - Supply-Side University"
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624:Gregory Fossedal (September 2, 2005).
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484:"Paid Notice: Deaths WANNISKI, JUDE T"
228:Wall Street stock market Crash of 1929
136:economic policy makers, and lectures.
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602:Robert D. Novak (September 1, 2005).
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1059:People from Pottsville, Pennsylvania
75:From 1972 to 1978, Wanniski was the
1049:American people of Scottish descent
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343:magazine. Conservative commentator
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580:Douglas Martin (August 31, 2005).
460:. February 8, 2006. Archived from
280:, saying, "Mr. Bush has become an
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1084:20th-century American journalists
1044:American people of Polish descent
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732:Chait, Jonathan (31 March 1997).
658:"HOW JUDE WANNISKI SPENT THE 4TH"
550:Steven Miller (August 31, 2005).
66:, to work as a columnist for the
998:is available for viewing at the
630:United Press International (UPI)
102:and later presidential hopefuls
44:for his high school graduation.
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160:" and was present in 1974 when
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946:. Polyconomics.com. 2004-10-28
944:"FYI-041028 Making Up My Mind"
925:. Polyconomics.com. 1999-04-13
686:Gary Younge (March 14, 2002).
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140:Economic and political beliefs
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664:. 1997-07-21. Archived from
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904:. Common Dreams. 2009-01-26
809:Shiller, Robert J. (2019).
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244:weapons of mass destruction
62:In 1965, Wanniski moved to
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1034:American economics writers
183:The Two Santa Claus Theory
72:, published by Dow Jones.
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642:: CS1 maint: unfit URL (
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434:List of economics topics
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56:Las Vegas Review-Journal
36:Pottsville, Pennsylvania
30:Early life and education
785:Principles of Economics
335:The Way the World Works
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220:The Way the World Works
213:The Way the World Works
82:The Wall Street Journal
1074:Supply-side economists
1064:New Jersey Republicans
990:Supply-Side University
968:July 23, 2008, at the
626:"Wanniski's last word"
403:Morristown, New Jersey
218:Wanniski's 1978 book,
189:Two Santa Claus Theory
20:Jude Thaddeus Wanniski
819:10.1515/9780691189970
310:supply-side economics
34:Wanniski was born in
788:. Cengage Learning.
716:www.polyconomics.com
454:"Constance Wanniski"
327:The rising GOP star
811:Narrative Economics
662:The Weekly Standard
512:on 25 February 2016
295:antiwar anthology,
224:Smoot–Hawley tariff
764:. Polyconomics.com
490:. August 31, 2005.
488:The New York Times
464:on January 6, 2016
386:The New York Times
349:Whittaker Chambers
859:National Observer
828:978-0-691-18997-0
424:Political economy
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256:WMD in Iraq
166:Dick Cheney
152:Lower taxes
41:Das Kapital
1018:Categories
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908:2015-11-23
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862:(March 6).
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286:John Kerry
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329:Jack Kemp
314:Keynesian
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468:July 6,
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129:Chicago
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743:15 May
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