The wealthy already bear far more of the burden in the U.S. than they do in other developed countries. By Phil Gramm and Mike Solon Oct. 14, 2021 12:49 pm ET President Biden’s effort to pass the largest tax increase in U.S. history is based on the verifiably false claim...
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WSJ-Inflation Punishes the Unprotected
Government shields its employees and beneficiaries, but not ordinary workers, from higher prices. By Phil Gramm and Mike Solon Aug. 11, 2021 6:14 pm ET The Labor Department reported Wednesday that consumer prices have risen in the past year by 5.4%. Prices have risen at an annualized rate of 7.1% in 2021 and...
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WSJ-How the Fed Is Hedging Its Inflation Bet
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Though few have noticed, the central bank is already slowing the growth of the money supply. By Phil Gramm and Thomas R. Saving Aug. 1, 2021 5:03 pm ET Federal Reserve Chairman Jerome Powell last month told the House Banking Committee “it would be a mistake” to tighten monetary policy “at a time when virtually...
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WSJ: Biden Turns Back the Progressive Clock
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Without the deregulation of the ’70s—which he supported—the economy would be smaller today. By Phil Gramm and Mike Solon July 14, 2021 2:16 pm ET In a sweeping executive order aimed at reimposing Progressive Era regulatory policy across the U.S. economy, President Biden recounted the foundational myths of modern progressivism. The first canon...
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WSJ: ProPublica’s Plan for a Poorer America
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A federal wealth tax would only make it harder for people with big dreams to make them a reality. By Phil Gramm and Mike Solon June 16, 2021 6:16 pm ET ProPublica’s “blockbuster” story showing that the wealthy “pay income taxes that are only a tiny fraction of the hundreds of millions, if...
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