Both models of state-directed capitalism misallocate resources and make the nation poorer. By Phil Gramm and Donald J. Boudreaux April 14, 2025 4:35 pm ET Not since Herbert Hoover signed the Smoot-Hawley Tariff has a president chosen to disregard a larger body of informed opinion than President Trump did when he instituted his...

Its flawed income measure leads to the overpayment of welfare, including Medicaid, to recipients. By Phil Gramm and John Early April 2, 2025 12:54 pm ET The Trump administration recently promised that it “will not cut Social Security, Medicare, or Medicaid benefits.” The determination not to reform retirement benefit entitlements is politically understandable....

The 25th president used reciprocity to press for an expansion of trade. The 47th is going backward. By Phil Gramm and Donald J. Boudreaux March 13, 2025 12:37 pm ET Equities markets roared in anticipation of the deregulation, tax cuts and fiscal restraint the second Trump administration promised. But the tariff...

‘Bracket creep’ is gone—unless you’re on Social Security, have capital gains or pay state taxes. By Michael Solon Feb. 26, 2025 5:08 pm ET As the debate heats up about whether and how to extend the 2017 tax cuts, the jury is out on a key question: Did the cuts generate...

Economic growth depends on deregulation, tax cuts and the budget deficit, not on the balance of trade. By Phil Gramm and Donald J. Boudreaux Feb. 20, 2025 5:05 pm ET It seems to be a matter of faith among protectionists that trade deficits make the U.S. an economic loser. President Trump...