Liberal lawmakers and activists want banks to lend to favored groups and deny the ‘undesirables.’ By Phil Gramm and Michael Solon Jan. 14, 2020 6:59 pm ET To resist President Trump’s campaign of economic reform and deregulation, his critics usually attempt to portray long-overdue, common-sense policies as assaults on the poor....
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Category Archives: Financial Services
WSJ: Warren’s Assault on Retiree Wealth
Her vision of ‘accountable capitalism’ would destroy savings built over a lifetime—and sink the economy. By Phil Gramm and Mike Solon Sept. 10, 2019 6:41 pm ET Who owns the vast wealth of America? Old folks. According to the Federal Reserve, households headed by people over the age of 55 own...
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WSJ-The Myth of ‘Wage Stagnation’
Usual measures of inflation don’t count the benefits of better products and more consumer choice. By Phil Gramm and John Early May 17, 2019 4:49 p.m. ET Perhaps the most common indictment of America’s legendary prosperity is wage stagnation. Bureau of Labor Statistics data show that average hourly earnings of production...
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Fox Business: Trump tax plan will pass both houses: Fmr. Sen. Phil Gramm
Sep. 29, 2017 – 8:53 – Former Texas Sen. Phil Gramm (R) on why he thinks President Trump’s tax reform plan will pass both houses of Congress. You can watch the video here....
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WH says corporate tax rate proposal is non-negotiable
Sep. 30, 2017 – 7:32 – Former Senate Banking Committee Chair Phil Gramm reacts to plan’s reduction from 35 percent to 20 percent. You can watch the video here....
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WSJ: Why This Recovery Is So Lousy
Don’t believe the line that slow growth is inevitable after financial crises. Bad policies yield bad results. By PHIL GRAMM and MICHAEL SOLON Aug. 3, 2016 Donald Trump has been criticized by Democrats and Republicans alike for saying that “the American dream is dead.” But instead of slaying the messenger,...
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WSJ: The Great Recession Blame Game
Banks took the heat, but it was Washington that propped up subprime debt and then stymied recovery By Phil Gramm and Michael Solon April 15, 2016 When the subprime crisis broke in the 2008 presidential election year, there was little chance for a serious discussion of its root causes. Candidate Barack...
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WSJ: The Federal Reserve’s Accountability Deficit
Every member of the Fed’s Board of Governors is an Obama appointee. That wasn’t supposed to happen. By PHIL GRAMM And THOMAS R. SAVING Oct. 14, 2015 6:27 p.m. ET The Federal Reserve enjoys extraordinary independence from the elected branches of government, based on the well-founded fear that politicians cannot be trusted with...
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WSJ: Dodd-Frank’s Nasty Double Whammy
The legislation has hit the banking industry hard, hurting the recovery. Worse is its effect on the rule of law. By PHIL GRAMM July 23, 2015 7:07 p.m. ET Five years after the passage of the Dodd-Frank financial law, the causes and effects of the failed economic recovery are apparent...
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WSJ: How to Distort Income Inequality
The Piketty-Saez data ignore changes in tax law and fail to count noncash compensation and Social Security benefits. By Phil Gramm And Michael Solon Nov. 11, 2014 6:50 p.m. ET What the hockey-stick portrayal of global temperatures did in bringing a sense of crisis to the issue of global warming...
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