WSJ-The Biden Tax Mirage

Posted in: Fiscal Policy, Tax Policy |
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Marginal rates have been a lot higher, but the actual share the top 1% pay stays remarkably constant. By Phil Gramm and Mike Solon May 12, 2021 12:39 pm ET With deficits at levels not seen since World War II, the March $1.9 trillion stimulus only beginning to spend out, and President Biden...
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WSJ-Biden Aims at Profit, Hits Workers

Posted in: Fiscal Policy, Tax Policy |
The 2017 corporate tax cuts triggered the blue-collar wage boom. Higher rates would reverse it. By Phil Gramm and Mike Solon April 6, 2021 6:18 pm ET The Biden administration has proposed an array of corporate tax increases with a goal of raising some $1.33 trillion over the next 10 years. That’s three...
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WSJ: Trump’s Protectionist Failure

Posted in: Uncategorized |
Tax cuts and deregulation spurred the boom. Tariffs delivered neither economic growth nor key states. By Phil Gramm and Pat Toomey March 2, 2021 1:26 pm ET Donald Trump was America’s first post-Depression presidential nominee to make protectionism a major plank of his platform. During the 2016 campaign he presented it, along with...
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WSJ: The Risks of Too Much ‘Stimulus’

Posted in: Fiscal Policy |
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Disposable real per capita income rose 5.5% in 2020, the highest rate since 1984, due largely to transfer payments. By Phil Gramm and Mike Solon Feb. 2, 2021 6:17 pm ET Even among economists who strongly support President Biden, a consensus is growing that the economy emerged from last year set for a...
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WSJ: Welcome to the Era of Nonstop Stimulus

Posted in: Uncategorized |
Spending didn’t speed the last recovery, but Biden’s team is keen to keep the money flowing endlessly. By Phil Gramm and Mike Solon Jan. 3, 2021 1:18 pm ET When President Obama’s last Treasury secretary, Jack Lew, made the extraordinary claim that the Obama economic recovery failed because Washington “stopped [spending] too soon...
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