Unfortunately this is a real person. He is an economist who was in the Reagan administration. He came up with the idea that lowering taxes could increase government revenue. The idea is called the Laffer Curve and it says that there's a point where you tax people too much and they won't work anymore. His policies were really just a way to justify supply-side economics where the government cuts taxes for corporations and rich people "to create growth".
Now that trickle-down economics has been proven to be awful by our current problems, Arthur Laffer went on Real Time with Bill Maher a couple weeks ago and was distancing himself from these horrible economic policies. Bill tried to call him on it too, saying "Isn't your name in the theory? It's called the Laffer Curve! Now you're saying it wasn't your idea or you don't completely believe in this theory?"
It would be awesome though if Wurster characters (new or old) started showing up on other radio programs. It's actually pretty easy to position yourself as an expert and get on the air. Make it happen!