WSJ: How Income Equality Helped Trump

Working Americans sense that taxes and transfers now leave them little better off than those who work less. By Phil Gramm and Robert B. Ekelund Jr. Frenzied rhetoric about income inequality was a larger theme in Hillary Clinton’s 2016 presidential campaign than in any previous American election. When the ballots were...
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Trump’s Trade Threats Are Hurting Growth

Tariff tensions promote economic uncertainty, which in turn inhibits business investment. By Phil Gramm and Mike Solon Economic uncertainty and prosperity are sworn enemies—when uncertainty reigns, prosperity fades. Uncertainty undermines prosperity by sapping investor and consumer confidence, choking off private investment, and suppressing consumer spending. The depression that followed the 1929...
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WSJ: Trump, Tariffs and the Protectionist Temptation

The trade balance doesn’t matter for U.S. prosperity. But America could benefit from updating and enforcing its trade deals, especially with China. By Phil Gramm and Mike Solon Any objective analysis of America’s economic history discredits the notion that the trade balance has a defined relationship with economic growth and job...
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WSJ: A Booming Economy Will Challenge the Fed

Normal growth will drive up the demand for bank loans and induce lending of excess reserves. By Phil Gramm and Thomas R. Saving Dec. 13, 2017 6:37 p.m. ET The asset base of the world’s financial institutions crumbled in the fall of 2008 as mortgage-backed securities collapsed and credit markets froze....
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