Category Archives: Financial Services

WSJ: The Plot to Politicize Banking

Posted in: Financial Services, Fiscal Policy | January 15, 2020 at 11:21 am , by mariel

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....

WSJ: Warren’s Assault on Retiree Wealth

Posted in: Financial Services, Fiscal Policy, Sectors, Tax Policy | September 11, 2019 at 12:07 am , by mariel

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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...

WSJ-The Myth of ‘Wage Stagnation’

Posted in: Financial Services | May 20, 2019 at 2:59 pm , by mariel

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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...

Fox Business: Trump tax plan will pass both houses: Fmr. Sen. Phil Gramm

Posted in: Financial Services, Fiscal Policy, Tax Policy | October 2, 2017 at 11:53 am , by mariel

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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....

WH says corporate tax rate proposal is non-negotiable

Posted in: Financial Services, Fiscal Policy, Tax Policy | October 1, 2017 at 12:52 pm , by mariel

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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....

WSJ: Why This Recovery Is So Lousy

Posted in: Financial Services, Fiscal Policy, Monetary Policy | October 18, 2016 at 10:51 am , by mariel

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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,...

WSJ: The Great Recession Blame Game

Posted in: Financial Services, Fiscal Policy | April 18, 2016 at 3:20 pm , by mariel

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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...

WSJ: The Federal Reserve’s Accountability Deficit

Posted in: Financial Services, Fiscal Policy, Monetary Policy | October 15, 2015 at 9:50 am , by mariel

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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...

WSJ: Dodd-Frank’s Nasty Double Whammy

Posted in: Financial Services, Fiscal Policy, Monetary Policy | July 27, 2015 at 10:23 am , by mariel

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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...

WSJ: How to Distort Income Inequality

Posted in: Financial Services, Fiscal Policy, Monetary Policy, Tax Policy | November 12, 2014 at 10:49 am , by mariel

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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...