Keyword: supplyside

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  • Supply Side’s Academic Vindication?

    12/13/2013 7:06:24 AM PST · by Academiadotorg · 1 replies
    Accuracy in Academia ^ | December 9, 2013 | Spencer Irvine
    A pair of University of Maryland economists actually found themselves channeling supply side-icon Jack Kemp although they might be loathe to admit it. At a Brookings Institution conference, associate professor Melissa Kearney and assistant professor Lesley Turner noted thtat today’s SNAP [the federal Supplemental Nutrition Assistance Program]requirements have a “secondary earner penalty.” In layman’s terms, that meant that if both married spouses in a couple worked, they would be taxed or penalized for having both spouses work. Both Kearney and Turner proposed that the tax code be reformed to cut out taxes on these secondary earners in order to boost...
  • Mike Lee's Anti-Supply-Side Tax Cut

    11/11/2013 5:48:56 AM PST · by reaganaut1 · 7 replies
    EconLog ^ | November 10, 2013 | David Henderson
    Arguably, one of the biggest accomplishments of supply-side economist Art Laffer in the late 1970s and early 1980s was to get mainstream economists to take marginal tax rates seriously. We all knew that the deadweight loss from a tax is proportional to the square of the tax rate so that, say, doubling the tax rate quadruples the deadweight loss. But, for some reason, economists talked very little about this. And this was during an era when the top federal marginal tax rate on income in the United States was a whopping 70 percent and the top federal marginal tax rate...
  • Why the GOP Won't Admit Supply-Side Econ Has Failed

    12/04/2012 8:25:22 AM PST · by ksen · 151 replies
    The Fiscal Times ^ | 12/4/2012 | Mark Thoma
    The Republican Party has long promoted itself as the party of business. Republicans understand the needs of business, we are told, and if the country would leave the economy in their hands business would boom. All we need to do is to give those at the very top of the income distribution – the “job creators” – more income through tax breaks, and then sit back and wait for the magic happen. Our investment in the wealthy will produce remarkable economic growth, and everyone will be better off. The Bush tax cuts were a test of these claims about supply-side...
  • Reagan Was a Keynesian (Paul Krugman revises history again)

    06/08/2012 4:25:21 AM PDT · by SeekAndFind · 17 replies
    New York Times ^ | 06/08/2012 | Paul Krugman
    There’s no question that America’s recovery from the financial crisis has been disappointing. In fact, I’ve been arguing that the era since 2007 is best viewed as a “depression,” an extended period of economic weakness and high unemployment that, like the Great Depression of the 1930s, persists despite episodes during which the economy grows. And Republicans are, of course, trying — with considerable success — to turn this dismal state of affairs to their political advantage. They love, in particular, to contrast President Obama’s record with that of Ronald Reagan, who, by this point in his presidency, was indeed presiding...
  • Anti-Keynesian Supply Side Tax and Spending Cuts in Sweden, and the Finance Minister Behind It

    05/09/2012 4:26:06 AM PDT · by SeekAndFind · 7 replies
    Carpe Diem ^ | 05/09/2012 | Mark J. Perry
    From the U.K. Spectator's report on the amazing success of supply-side economics in Sweden, and finance minister Anders Borg, the man behind it: "When Europe’s finance ministers meet for a group photo, it’s easy to spot the rebel — Anders Borg (pictured above) has a ponytail and earring. What actually marks him out, though, is how he responded to the crash. While most countries in Europe borrowed massively, Borg did not. Since becoming Sweden’s finance minister, his mission has been to pare back government. His ‘stimulus’ was a permanent tax cut. To critics, this was fiscal lunacy. Borg, on...
  • Newt Gingrich vs. Mitt Romney: Comparing Conservative ‘Products of Work’

    04/22/2012 3:46:58 PM PDT · by SoConPubbie · 24 replies
    GulagBound.com ^ | January 30, 2012 | PolitiJim
    It is terrible that conservatives are out there distorting the records of each candidate. Or worse passing along wrong information without checking facts. All of them have qualifications and disqualifications. But can we get away from what they say they will do and compare what they actually did when they were afforded governing power? I was talking to a nationally published conservative author and speaker today who had absolutely no clue that Newt Gingrich gave the “keynote” rebuttal AGAINST Al Gore on Cap and Trade legislation. This is a travesty not just of conservative media, but those we surround ourselves...
  • Mitt Romney Is Stuck Because He's Not A Pro-Growth Republican

    01/05/2012 2:14:46 PM PST · by SupplySider · 17 replies
    Forbes ^ | 1/3/12 | Paul Hoffmeister
    Paul Hoffmeister is the chief economist at Bretton Woods Research, LLC. According to the polls summarized by RealClearPolitics, Mitt Romney has been unable to win more than 25% of the Republican vote for the party’s presidential nomination for more than a year. This is because the former Massachusetts governor is not a pro-growth Republican. Instead, his economic platform reflects a man who is devoutly Keynesian, and who, as president, would not be able to reinvigorate the U.S. economy. A pro-growth Republican is a “supply-sider” who believes that stable money, low taxes, and limited regulation produce prosperity. And as Art Laffer...
  • Barack Obama, Supply-Sider. The Payroll Tax Stimulus is not the hill for Republicans to die on.

    08/23/2011 7:00:00 AM PDT · by SeekAndFind · 7 replies
    National Review ^ | 08/23/2011 | Kevin D. Williamson
    Let me get this straight: Republicans are arguing for a not-insignificant tax increase, and President Obama is sounding like Jack Kemp, saying higher taxes would lead to lower GDP growth. I knew I shouldn’t have followed that damned rabbit down the hole. As part of a harebrained attempt to stimulate the economy, a temporary reduction in the payroll tax was appended to the deal to prevent the Bush-era income-tax rates from expiring. There is good reason to think that these kinds of short-term stimulus measures don’t do much good. One of Milton Friedman’s key achievements was working out a formal...
  • Taking Stock (Ben Stein says Reagan's tax cuts caused recession)

    08/05/2011 5:35:20 AM PDT · by reaganaut1 · 29 replies
    American Spectator ^ | August 5, 2011 | Ben Stein
    I have been reading about fiscal policy under Ronald Reagan in my father's splendid book, Presidential Economics. What I have learned or re-learned is that Reagan was confronted with a giant problem in his 1980 campaign. The problem was budget deficits from the Johnson/Nixon/Ford/Carter years along with high inflation and a stubbornly high unemployment rate. The conventional economic advice called for raising taxes or monetary restraint to lower the inflation. But the problem there was that those measures would almost surely also generate higher unemployment. Along came what my father calls "the economics of joy," which was supply-side economics. This...
  • The Problem With Supply Side Economics

    06/12/2011 6:20:17 PM PDT · by billflax · 29 replies
    Forbes ^ | 02/10/2011 | Bill Flax
    Supply side economics invokes the most basic element of human nature: self-interest. We all seek to improve our material circumstances. The tinier the tax man’s bite, the greater is our incentive to produce. As tax burdens lighten, motivation heightens, sparking a robust economy. Allowing producers to enjoy their hard earned gains is both just and effective. Contrasted with demand side economics it’s a no-brainer. It is neither just nor effective to funnel public money to political favorites hoping they will spend lavishly and thus stimulate production. Paying people not to produce inspires little effort. Depriving producers of needed capital so...
  • Why the Tax Compromise Won't Work

    12/19/2010 2:08:12 AM PST · by Scanian · 49 replies · 1+ views
    The American Thinker ^ | December 19, 2010 | Paul B. Matthews
    Many on the right, and particularly those who do not truly understand supply-side economics, are propagating the idea that the extension of the Bush tax cuts will bolster investment by business and will trigger a wave of economic activity, thereby helping to pull the U.S. out of its worst economic malaise since Jimmy Carter. This conclusion is wrong. Moreover, by propagating this pseudo-supply side position, proponents have needlessly made Republicans vulnerable to flanking maneuvers by America's left -- maneuvers that could lead to disastrous consequences for the 2012 elections. If the Bush tax cuts are extended, the average American will...
  • Jack Kemp Warned Obama: Don't Raise Taxes

    12/15/2010 5:15:28 AM PST · by Daisyjane69 · 4 replies
    American Spectator ^ | 12/14/10 | Jeffrey Lord
    "Greetings, it's me again, giving more advice…." It was April 17, 2008, and Jack Kemp, the one-time Buffalo Bills quarterback turned congressman, presidential candidate, Bush 41 HUD Secretary and 1996 GOP vice presidential nominee, was at it again. This time, sadly, one of his last "in print" outings before his tragic early death from cancer just over a year later, he was writing an open letter in the Wall Street Journal to then-Illinois Senator and Democratic presidential aspirant Barack Obama. On tax cuts. And while he was at it, in typical Kemp style, reminding his fellow Republicans about the GOP's...
  • Obama the Supply-Sider? (Is he showing signs of losing faith in liberal economic theory?)

    09/22/2010 9:34:56 AM PDT · by SeekAndFind · 7 replies
    American Thinker ^ | 09/22/2010 | Andrew Foy, MD
    President Obama is showing signs that he, along with most of the rest of the country, is losing faith in liberal economic theory. Now I'm not suggesting he's going to go all Milton Friedman on us, but I think it is appropriate to reflect on a comment he made at his September 10 press conference and take a moment to rejoice in small victories. The following question was asked to the president: "On the economy, could you discuss your efforts at reviewing history as it relates to the poverty agenda, meaning LBJ and Dr. King?" The President's reply about...
  • Hillary Clinton: Accidental Supply-Sider

    06/27/2010 11:02:42 PM PDT · by SupplySider · 16 replies
    Secretary of State Hillary Clinton declared recently at the Brookings Institution, "The rich are not paying their fair share." She then went on to praise Brazil as the tax holy grail for the rest of the world: "Brazil has the highest tax-to-GDP rate in the Western Hemisphere and guess what—it's growing like crazy." At first blush those kinds of words must make her neosocialist boss, President Obama, jump for joy. But is the secretary of state actually a supply-side subversive? Take a look at Brazil's income tax rates—they are lower than ours. The highest rate is a mere 27.5%, far...
  • Hello Supply Side (Equating supply-side tax policy with lower revenues (“tax cuts”) is incorrect)

    05/13/2010 6:57:33 AM PDT · by SeekAndFind · 27 replies · 430+ views
    National Review ^ | 05/13/2010 | Alan Reynolds
    In “Goodbye Supply Side,” Kevin D. Williamson writes, “Properly understood, there were no Reagan tax cuts. In 1980 federal spending was $590 billion and in 1989 it was $1.14 trillion; you don’t get Reagan tax cuts without Tip O’Neill spending cuts. Looked at from the proper perspective, we haven’t really had any tax cuts to speak of — we’ve had tax deferrals.” Williamson hopes to “develop a rhetoric in which ‘spending’ and ‘taxes’ are synonyms, so a federal budget with $1 trillion in new spending means $1 trillion in new taxes — levies on Americans today or on our children...
  • Goodbye Supply Side (Republicans want to cut taxes but can't bring themselves to cut spending)

    04/26/2010 6:33:34 AM PDT · by SeekAndFind · 51 replies · 611+ views
    National Review ^ | 04/26/2010 | Kevin Williamson
    There are two schools of thought about the Reagan tax cuts. The conventional conservative view: They spurred investment, entrepreneurship, and real economic growth, helping to resuscitate the post-Carter economy, and, by doing so, they paid for themselves. The conventional liberal view: They were an ill-considered product of starve-the-beast ideology and produced crippling deficits, inaugurating a new era of fiscal irresponsibility only briefly transcended during the golden years of the Clinton presidency. Here’s a different take: They never happened. Properly understood, there were no Reagan tax cuts. In 1980 federal spending was $590 billion and in 1989 it was $1.14 trillion;...
  • NBC's Rehema Ellis Accidentally Explains Supply-Side Economics

    03/12/2010 6:50:19 PM PST · by Halfmanhalfamazing · 13 replies · 1,995+ views
    Rush ^ | March 11th | NBC via Rush
    RUSH: An NBC reporter actually stumbled upon an economic truth. It was an accident. It wasn't intentional, but still the NBC reporter got it right. Andrea Mitchell was talking to the correspondent Rehema Ellis about schools closing in Kansas City and elsewhere because of budget shortfalls, and Andrea Mitchell, NBC News, Washington, said, "This is not just Kansas City. This is the most drastic case we've seen so far, but this is a ripple effect we're seeing from the recession. What is going to happen to the students there and elsewhere across the country?" ELLIS: It's simple, too, Andrea, you...
  • Supply-Side Financial Reform

    03/10/2010 5:40:21 PM PST · by TigerLikesRooster · 6 replies · 172+ views
    City Journal ^ | 03/08/10 | Nicole Gelinas
    Nicole Gelinas Supply-Side Financial Reform Congress should unleash free markets to help protect consumers. 8 March 2010 Senate Democrats have tried for weeks to get Republicans to support the showpiece of their financial-reform package, a consumer financial-protection agency that would shield regular Americans from predatory financiers. But even the nimblest public agency cannot protect consumers from the biggest threat to their financial health: owing too much money. That threat will exist as long as the financial industry faces no ultimate market penalty—the consistent threat of failure—for lending too much too freely. The proposed agency has a worthy goal. As Connecticut...
  • Tax Cuts Might Accomplish What Spending Hasn’t

    12/12/2009 2:08:48 PM PST · by TaxPayer2000 · 26 replies · 1,242+ views
    nytimes.com ^ | December 12, 2009 | N. GREGORY MANKIW
    ~SNIP~Congress passed a sizable fiscal stimulus. Yet things turned out worse than the White House expected. The unemployment rate is now 10 percent — a full percentage point above what the administration economists said would occur without any stimulus. To be sure, there are some positive signs, like reduced credit spreads, gross domestic product growth and diminishing job losses. But the recovery is not yet as robust as the president and his economic team had originally hoped. So what to do now? The administration seems most intent on staying the course, although in a speech Tuesday, the president showed interest...
  • Supply-Side Ideas, Turned Upside Down (Obamacare raises marginal tax rates for middle class)

    10/31/2009 4:57:11 PM PDT · by reaganaut1 · 22 replies · 1,151+ views
    New York Times ^ | Octgober 31, 2009 | N. Gregory Mankiw
    ... [T]he signature domestic issue in President Obama’s first year in office — health care reform — is shaping up to be the antithesis of President Reagan’s supply-side economics. The starting point for Ronald Reagan was the idea that people respond to incentives. The incentives that he most worried about were those provided by the tax system. According to his budget director, David A. Stockman, Mr. Reagan would regale the staff with stories of how he, as an actor, used to alter his work schedule in response to the tax code. “You could only make four pictures, and then you...
  • Big Tax Cuts announced in India : top rate of 30%

    08/12/2009 6:15:19 PM PDT · by Maneesh · 7 replies · 804+ views
    The Times of India ^ | Aug 12, 2009 | Maneesh
    NEW DELHI: Finance minister Pranab Mukherjee on Wednesday unveiled a roadmap for reforms in direct taxes that promises to drastically cut the tax liability of most individuals by considerably raising tax slabs. The new direct taxes code, proposed to be implemented from April 2011, aims to moderate effective tax rates in the hope that this will encourage more people to pay up. The most significant changes proposed are in personal income tax, which could lead to tax savings of up to Rs 2.67 lakh each year. The 10% tax rate, currently applicable for incomes between Rs 1.6 lakh and Rs...
  • The Man that brought us Supply Side Economics - Forget Tarp!

    07/08/2009 11:45:21 AM PDT · by energylover · 3 replies · 347+ views
    4 Your Country ^ | July 8, 2009 | 4yourcountry
    With the recent passing of Jack Kemp, I was reminded of his exceptional effort in leading the charge to supply side economics in the early 80's. The man behind the thinking was Arthur Laffer, a truly gifted economist. Laffer's newest Book, The End of Prosperity: How Higher Taxes Will Doom the Economy--If We Let It Happen chronicles the power of less government and less taxes. Many argued that the deficits of the 80's was a function of supply side economics - that low taxes drove debt. But the reality is, as well told in the book, revenues increased under Laffer...
  • Supply Side Economics, why it works

    05/17/2009 8:25:51 AM PDT · by El Gringo · 5 replies · 400+ views
    Heritage Foundation ^ | 1997 | Edwin J. Fuelner
    Supply side Economics, why it works. Think of the following economic dynamics: Lower Taxes = more Jobs Higher Taxes = more Government Simple.----JWThinkwright A revival of Edwin Fuelner’s 1997 piece ( Supply-Side Vindication) is overdue at this juncture. See it at Heritage Foundation:click here
  • Jeffrey Bell: Kemp Brought America Back from 1970s

    05/04/2009 2:33:48 AM PDT · by SupplySider · 4 replies · 660+ views
    Newsmax.com ^ | 5/3/09 | Jeffrey Bell
    There were two big ideas that changed the world in the 1980s: Supply-side economics and a bold strategy for winning the Cold War. One was the handiwork of Jack Kemp, the other of Ronald Reagan. It’s important to understand that the first, introduced into American politics by a then-young Kemp in the 1970s, preceded the second. No look back on the life of Jack Kemp is complete without the recognition that, without Kemp’s success, the Reagan-led peaceful victory in the Cold War could never have happened.
  • The Obama-Limbaugh Bipartisan Stimulus Plan of 2009

    01/26/2009 11:27:34 AM PST · by RoadTest · 44 replies · 2,338+ views
    EIB Ntwork Broadcast ^ | Rush Limbaugh
    RUSH: I have a serious proposal to make: the Obama-Limbaugh Stimulus Plan 2009. There is a serious debate in this country as to how best to end the recession. Recessions will end on their own if they're left alone. The average recession will last five months to 11 months. The average recovery from each recession will last six years. What can make the recession worse is the wrong kind of government intervention.
  • Time For GOP To Get Back To Supply Side

    12/30/2008 6:12:43 PM PST · by Kaslin · 16 replies · 600+ views
    IBD Editorials ^ | December 30, 2008 | Lawrence Kudlow
    Republican Senate Leader Mitch McConnell is absolutely right to warn against Obama's gigantic stimulus-spending package. McConnell says it "will be the largest spending bill in the history of our country at a time when our national debt is already the largest in history." As a result, he says the bill "will require tough scrutiny and oversight." According to McConnell, scrutiny should include this simple test: "Will the yet unwritten, reportedly trillion-dollar spending bill really create jobs and grow the economy — or will it simply create more government spending, more bureaucrats, and deeper deficits?" The Republican leader is drawing a...
  • Obama's Tax Trap

    12/30/2008 7:42:50 AM PST · by St. Louis Conservative · 29 replies · 1,122+ views
    The New York Post ^ | December 30, 2008 | Editorial
    President-elect Barack Obama may be about to make a big mistake: raising taxes in the middle of a recession. That's what his top political aide, David Axelrod, hinted Sunday: The Bush tax cuts are "something that we plainly can't afford, moving forward," Axelrod said. "Whether it expires, or whether we repeal it a little bit early, we'll determine later. But it's going to go." Either way, of course, would deal a significant blow to the economy. But moving up the hit to a time when the nation is struggling to recover from a brutal downturn would simply intensify the pain...
  • The Cars Were Never Better — But It Probably Doesn’t Matter

    12/24/2008 7:19:49 AM PST · by XR7 · 112 replies · 2,667+ views
    NMA ^ | 12/24/08 | Eric Peters
    The collapse of the U.S. auto industry would be easier to take if the cars were junk. That’s how it was the last time one of the Big Three (Chrysler) went belly up back in 1979. If you’re old enough to remember the Cordoba, you know what I’m talking about. It was easy to comprehend the failure of late ’70s-era Chrysler because Chrysler’s cars of that period were junk. People tend not to buy junk — end of story. Simple relationship. Cause and effect. But today? Never have the products of the Big Three — especially GM and Ford —...
  • Remember the Laffer Curve?

    11/25/2008 11:21:48 AM PST · by TheFreeRight · 31 replies · 1,290+ views
    Political Capital ^ | 11/25/02008 | Matthew Gagnon
    “Cutting taxes increases economic growth, which in turn increases government revenue.” I have heard that phrase more times than I can count from more Republicans than I even remember. It has been the central theme with which the Republicans have built their reputation, and basically the only thing that they have done in Washington that has matched up with their rhetoric. There’s a problem, though. And I want you to keep in mind when I say this, that I am a libertarian-Republican who would just as well like to see the income tax abolished. I repeat, I hate taxes, and...
  • McCain's econ brain (Phil Gramm)

    03/02/2008 10:32:31 AM PST · by SupplySider · 69 replies · 120+ views
    Fortune on CNNMoney.com ^ | 2/19/08 | Shawn Tully, editor at large
    NEW YORK (Fortune) -- Now that the faltering economy has replaced national security as the overriding issue in the presidential campaign, John McCain is portraying himself as a budget-shrinking, flat-tax-embracing, healthcare-privatizing champion of free markets. But is this Reaganesque zealot the real John McCain? The big question is whether McCain's radical agenda is simply designed to rally the Republican base, or would prove a blueprint for a McCain presidency. Given the Arizona Senator's maverick record, voters have every reason to distrust the new McCain. He twice opposed the Bush tax cuts and keeps dropping disturbing lines like, "I don't know...
  • All The Leading GOP Candidates Are On The Supply Side At Last...

    01/14/2008 5:40:15 PM PST · by Kaslin · 12 replies · 150+ views
    IBD ^ | January 14, 2008 | Lawrence Kudlow
    The New Hampshire primary may not have confirmed who's going to win the GOP nomination (or the Democratic nomination, for that matter). But it just may have told us where voting Republicans stand on the economy and supply-side policy. Exit polls in New Hampshire reveal that the most important issue for Republican voters is the economy, at 31%, trailed by the war in Iraq at 24%, illegal immigration at 23% and terrorism at 18%. Overall, 54% of New Hampshire voters said that reducing the budget deficit is the highest priority for the next president, while 44% believe in cutting taxes....
  • Supply-Side Magic

    01/09/2008 5:15:04 PM PST · by Kaslin · 8 replies · 124+ views
    IBD ^ | January 9, 2008
    Tax Cuts: President Bush reportedly might float a $500 tax rebate plan in his State of the Union address. Relief is always welcome, but permanent cuts stimulate the economy. Leave gimmicks to the Democrats.A few months after taking office in 2001, with the economy in urgent need of help, the president had the Treasury provide quick relief in the form of tax rebate checks for as much as $600 per family. Americans were happy to have the extra cash, but the economy didn't take off until marginal income tax rates and capital gains and dividends taxes were cut two years...
  • Pillars of Supply Side Economics

    10/08/2007 9:22:24 AM PDT · by ari-freedom · 14 replies · 424+ views
    www.supplysideforum.com ^ | October 7, 2007 | Wayne Jett
    The classical model of economics consists of principles derived through centuries of social and commercial experience. Adam Smith’s Theory of Moral Sentiments (1759) and Wealth of Nations (1776) advanced the process of opening commercial society to analysis and insight. Under the “supply side economics” nom de guerre assumed in the last quarter of the 20th Century, classical economic theory continues as it began. It undertakes to identify principles of human conduct in commercial relations, and to apply these principles in analyzing and predicting economic conditions and in designing public policy. Classical economics is valuable for its clarity, for the demonstrable...
  • Romney Campaign Recruits Supply-Siders

    06/02/2007 1:02:08 PM PDT · by TexanSniper · 24 replies · 646+ views
    HUMAN EVENTS ^ | 03/19/2007 | Amanda B. Carpenter
    In his campaign to win the Republican nomination for President, expect former Massachusetts Gov. Mitt Romney to have a strong economic plan and to hit rival candidates hard on taxes. Romney has compiled a team of dedicated Reaganite supply-siders -- many of whom also helped engineer President Bush’s tax cuts -- to produce what Romney’s spokesman called a “very idea-based campaign.” The Romney campaign is staffed by a number of experienced policy heavyweights. Leading the economic team are R. Glenn Hubbard, dean of Columbia University Graduate School of Business, and N. Gregory Mankiw, a visiting fellow at the American Enterprise...
  • Rich States, Poor States

    01/24/2007 10:51:50 PM PST · by MinorityRepublican · 43 replies · 1,247+ views
    Wall Street Journal ^ | Thursday, January 25, 2007
    If you're searching for the next big thing in American politics, it's wise to keep an eye on the states. Here's one possibility: the abolition of state income taxes. In Georgia, Missouri and South Carolina, Governors and state legislatures are drafting serious proposals to repeal their income taxes to promote economic development. St. Louis, one of America's most distressed cities, may overturn its wage/income tax as a way to spur urban revival. And in Michigan, the legislature is in the last stages of phasing out its hated business income tax -- the most onerous in the land. "States are now...
  • Laffer Throws Curve with Latest Theory

    09/02/2006 7:09:11 PM PDT · by A. Pole · 191 replies · 3,505+ views
    American Economic Alert ^ | Tuesday, August 29, 2006 | Alan Tonelson
    Although most economists keep insisting that their discipline is all about peaceful competition, it’s increasingly clear that they need to do violence to language and logic when defending today’s U.S. globalization policies. The latest example: Arthur B. Laffer’s recent suggestion in a Wall Street Journal article that the term "trade deficit" is a misnomer. Instead, insisted the "Father of Supply-Side Economics" and former guru to President Reagan, Americans should call their country’s bloated excess of imports over exports a "capital surplus" – reflecting the borrowing from abroad needed to sustain it. Unfortunately for the United States, word games can’t possibly...
  • Reaganomics at 25

    08/12/2006 12:46:58 PM PDT · by Tolerance Sucks Rocks · 30 replies · 812+ views
    Wall Street Journal ^ | August 12, 2006 | Wall Street Journal
    Twenty-five years ago this weekend, Ronald Reagan signed the Economic Recovery Tax Act. The bill cut personal income tax rates by 25% across the board, indexed tax brackets for inflation and reduced the corporate income tax rate. The anniversary is worth commemorating as a seminal moment that continues to influence policy for the better in the U.S., and around the globe. The achievement of Reaganomics can only be fully understood by recalling the miserable state of affairs a quarter-century ago. Newsweek summarized the national mood when it wrote in 1981 that Reagan "inherits the most dangerous economic crisis since Franklin...
  • Trouble on the Right: Free Enterprise Fund Hits Turbulence

    07/24/2006 8:32:31 AM PDT · by D.C. Media Hor · 870+ views
    Roll Call ^ | July 24, 2006 | Kate Ackley
    Capping a period of staff turnover and news reports about its connection with a lobbyist who pleaded guilty to bribery charges, the conservative Free Enterprise Fund has lost its public relations firm. The Herald Group, a year-old firm doing PR work on the fund's legal challenge to the Sarbanes-Oxley corporate governance law, has resigned. Matt Well, a partner with the Herald Group, said his firm "released them as a client." "They're going through some transitions at the Free Enterprise Fund, and we made a decision that we had a limited amount of resources and wanted to put those resources to...
  • Surging

    06/19/2006 6:19:33 PM PDT · by .cnI redruM · 14 replies · 1,414+ views
    NRO ^ | June 19, 2006, 6:56 a.m. | By The Editors
    More than two years ago, when President Bush announced his aim to cut the federal budget deficit in half by 2009, many critics guffawed. They called the goal an impossibility, a naďve and futile effort that would be undermined by the fat-cat Republican tax cuts. A Boston Globe headline declared, “Bush’s plan to halve federal deficit seen as unlikely; Higher spending, lower taxes don’t mix, analysts say.” An Associated Press story went out on the wire with the headline, “Bush goal of halving federal deficits draws skepticism, derision.” In that AP article, Sen. Kent Conrad, the top Democrat on the...
  • Tyrrell: The supply-side miracle continues

    05/11/2006 3:18:54 PM PDT · by ncountylee · 8 replies · 529+ views
    Creators Syndicate/CNN ^ | May 11, 2006 | R. Emmett Tyrrell Jr.
    WASHINGTON (Creators Syndicate) -- It is very reassuring that Republican negotiators in the House and Senate have reached an agreement to extend President George W. Bush's cuts in tax rates on dividends and capital gains. Equally reassuring, the negotiators plan to liberate as many as 15-million middle-income Americans from the impending burden of the alternative minimum income tax. Now the unparalleled economic growth that has characterized the American economy since the early 1980s can proceed. My only question is why? Why did the Republicans extend these tax cuts? Many of them are the same salons who offered the embarrassing quackery...
  • Wild on the Supply-Side

    05/11/2006 8:38:09 AM PDT · by Reagan Man · 4 replies · 305+ views
    The American Spectator ^ | May 11 2006 | R. Emmett Tyrrell, Jr.
    WASHINGTON -- It is very reassuring that Republican negotiators in the House and Senate have reached an agreement to extend President George W. Bush's cuts in tax rates on dividends and capital gains. Equally reassuring, the negotiators plan to liberate as many as 15 million middle-income Americans from the impending burden of the alternative minimum income tax. Now the unparalleled economic growth that has characterized the American economy since the early 1980s can proceed. My only question is why? Why did the Republicans extend these tax cuts? Many of them are the same solons who offered the embarrassing quackery of...
  • How to Soak the Rich (the George Bush Way)- Great Rebuttal to Use Against the Anti-Tax Cut Crowd

    05/04/2006 11:15:45 AM PDT · by MikeA · 41 replies · 1,061+ views
    The Wall Street Journal ^ | 05/04/06 | Stephen Moore
    With the House and Senate preparing to vote on extending George W. Bush's investment tax cuts, it's no surprise the cries against "tax giveaways to the rich" grow increasingly shrill. Just yesterday Senate Minority Leader Harry Reid charged that the Bush tax plan "offers next to nothing to average Americans while giving away the store to multi-millionaires"... Oh really. New IRS data released last month tell a very different story: In the aftermath of the Bush investment tax cuts, the federal income tax burden has substantially shifted onto the backs of the wealthy. Between 2002 and 2004, tax payments by...
  • Stop Lying About Tax Cuts by Herman Cain

    04/01/2006 9:45:20 AM PST · by K-oneTexas · 33 replies · 948+ views
    The New Voice ^ | March 29, 2006 | Herman Cain
    Stop Lying About Tax Cuts March 29, 2006 By Herman Cain Every good liberal will tell you that low tax rates cause tax revenues to drop, hurt the economy, benefit only the wealthy and cause skyrocketing budget deficits. A Wall Street Journal article last week blew a hole in those liberal lies. The Journal reported that federal tax revenues for the first five months of fiscal year 2006 are up 10.3 percent from the same period a year ago. The 2006 revenue growth adds to a 15 percent tax revenue increase from 2004 to 2005. This good fortune for U.S....
  • RIght Cross Is George W. Bush a conservative?

    02/20/2006 11:06:57 AM PST · by SupplySider · 34 replies · 791+ views
    Dallas Observer ^ | 2/16/06 | Robert Wilonsky
    Until October 18, 2005, many readers of The New York Times had probably never heard of Bruce Bartlett or the National Center for Policy Analysis. They likely had no idea that there was a conservative think tank based in Dallas, especially one that possesses clout inside the Beltway. And they probably thought little of the story announcing his firing, buried on page 24. If anything, they might have been struck by the headline--"In Sign of Conservative Split, A Commentator Is Dismissed"--which proved that the great divide in the Republican Party had grown an inch wider. As Richard Stevenson pointed out...
  • The Silence of the Good News

    02/04/2006 7:35:33 PM PST · by FairOpinion · 20 replies · 883+ views
    Townhall ^ | Feb. 3, 2006 | Larry Kudlow
    Economic pessimists have had a field day ever since GDP was reported a week ago at only 1.1 percent for the fourth quarter. But the latest jobs report released on Friday blew them out of the water. Including revisions, January employment is a huge 317,000 above the initial December level. In fact, over the past three months, non-farm payrolls have increased an average 229,000 per month. That’s explosive. We’re on pace for another 2 million jobs in 2006, following gains of 2 million in 2004 and 2005. Wages are also picking up steam, and with gasoline prices falling, consumer purchasing...
  • Fed chairmen and the scary mask

    12/20/2005 2:07:58 PM PST · by Sonny M · 2 replies · 292+ views
    The Christian Science Monitor ^ | December 19, 2005 edition | David R. Francis
    Eons ago, in the pre-Alan Greenspan era, Paul Volcker (Mr. Greenspan's predecessor as chairman of the Federal Reserve System) was touring the Museum of Anthropology at the University of British Columbia. He pointed to an especially fierce native American mask. "That must have been for their central banker," Mr. Volcker joked for the benefit of the journalists tagging along. Come Feb. 1, Ben Bernanke will be the one that journalists tag behind when - as expected - he succeeds Greenspan. Will Mr. Bernanke have to figuratively don a ferocious mask in order to tame inflation? Probably not. But he may...
  • Snow: Strong U.S. economy proving pessimists wrong

    12/14/2005 1:32:49 PM PST · by nickcarraway · 6 replies · 494+ views
    Reuters ^ | Dec 14, 2005
    WASHINGTON, Dec 14 (Reuters) - The U.S. economy's recent strength, with plentiful new jobs and little inflation, has legitimized the Bush administration's economic approach, Treasury Secretary John Snow on Wednesday. The White House strategy to cut taxes on labor and capital and spur entrepreneurial activity has triggered an economic recovery resilient enough to endure a series of Gulf Coast hurricanes, and it is likely to continue, Snow said. "Along with sound monetary policy from the Federal Reserve, these policies are delivering results and proving the pessimists and naysayers wrong," he said in prepared remarks for a joint press conference with...
  • Happy Anniversary, Reaganites! by James Pinkerton (It was 25 years ago today...)

    11/04/2005 8:43:49 AM PST · by Nicholas Conradin · 19 replies · 415+ views
    Tech Central Station ^ | 11/04/2005 | James Pinkerton
    Can you imagine the Dow Jones Industrial Average at, say, 3000? Can you visualize inflation and interests in double digits? And per capita income maybe two-thirds of what it is now? It's not so difficult to see those things in your mind's eye -- provided you can also visualize the American people re-electing the 39th president, Jimmy Carter. Instead, 25 years ago today, on November 4, 1980, the voters in 44 states chose Ronald Reagan. So this day, like any happy anniversary, is worth celebrating. But in addition, we should remember that while Reagan demonstrated the importance of optimism, another...
  • The pro-growth case for Rove

    10/15/2005 2:34:47 PM PDT · by FairOpinion · 8 replies · 769+ views
    Townhall ^ | Oct. 14, 2005 | Larry Kudlow
    Karl Rove appeared on Friday for the fourth time in front of a federal grand jury, as prosecutors attempt to get to the bottom of who said what to whom and when in the "outing" of Valerie Plame as a CIA "operative." Once again, the neck of the president's top advisor is on the line, with many corners of Washington calling for his resignation before all the facts are known. Media reports all seem to agree that it would be a huge blow to the Bush administration if Rove were forced to step down. Not only because it would come...
  • Supply-side principles for the hard times

    09/12/2005 11:18:28 PM PDT · by Crackingham · 11 replies · 308+ views
    Townhall ^ | 9/12/05 | Jack Kemp
    It is disappointing that the Republican Party has not institutionalized the supply-side principles of low tax rates, benign regulations, rule-based monetary policy, liberalized trade and prudent government spending. Republican politicians campaign for election on these principles, but when they get into office, they abandon them. President Bush has been a stalwart on pro-growth policies for our nation, but Congressional Republicans have been mute on what needs to be done going forward. Even when they adhere to the principles in their voting records, many Republicans are hesitant to evangelize on their behalf, which is necessary if they are to be institutionalized...