Category Archives: Fiscal Policy

Don’t Be Fooled by ‘Secular Stagnation’

Posted in: Fiscal Policy, Tax Policy | December 2, 2017 at 10:21 am , by Managed WordPress Migration User

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American exceptionalism hasn’t come to an end, and we needn’t settle for 2% economic growth. What the U.S. needs is policies like Reagan’s, not Obama’s. By Phil Gramm and Michael Solon Dec. 1, 2017 6:40 p.m. ET The only sound basis for gauging the potential impact of public-policy changes is through...

The GOP’s ‘Tax the Rich’ Temptation

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The top 10% of earners already pay 71% of federal income taxes—highest in the developed world. By Phil Gramm Given that the top 10% of income earners in America pay more than 71% of federal income taxes and do most of the saving, investing and innovating that fuel America’s economic...

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

Posted in: Financial Services, Fiscal Policy, Sectors, Tax Policy | September 29, 2017 at 4:43 pm , by Managed WordPress Migration User

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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 here....

Finding America’s Lost 3% Growth

Posted in: Fiscal Policy, Monetary Policy | September 11, 2017 at 11:30 pm , by Managed WordPress Migration User

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If the country can’t grow like it once did, then the American Dream really is irretrievably lost. By Phil Gramm and Michael Solon Sept. 10, 2017 4:04 p.m. ET Growth deniers are declaring that America’s economy has lost its ability to grow at 3% above inflation. If that’s the case, maybe...

Reagan Cut Taxes, Revenue Boomed

Posted in: Fiscal Policy, Monetary Policy, Tax Policy | August 4, 2017 at 10:27 am , by Managed WordPress Migration User

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The model of tax-rate cuts and deregulation can work again to restore faster growth and lift incomes. By Phil Gramm and Michael Solon Aug. 3, 2017 6:51 p.m. ET A great advantage of having been present when history was made is that later you can sometimes recall what actually happened. Such institutional memory...

The Economic Headwinds Obama Set in Motion

Posted in: Fiscal Policy, Monetary Policy | May 18, 2017 at 9:14 am , by Managed WordPress Migration User

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A booming recovery would force the Treasury and Fed to compete with the private sector for credit. By Phil Gramm and Thomas R. Saving May 17, 2017 Behind every significant postwar recovery has been the same driving force: a sustained rise in private investment and new home building, which increased...

Do You Want Reagan’s Economy or Obama’s?

Posted in: Fiscal Policy, Tax Policy | April 20, 2017 at 10:09 am , by Managed WordPress Migration User

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The CBO failed to predict the tax-reform boom of the 1980s and the weak recovery in recent years. By Phil Gramm and Michael Solon The best way to gauge America’s capacity to reignite economic growth through tax reform is to move beyond congressional economic models and look to the empirical...

How ‘Border Adjustment’ Poisons Tax Reform

Posted in: Fiscal Policy, Tax Policy | February 23, 2017 at 10:21 am , by Managed WordPress Migration User

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The House’s 20% import fee is political industrial policy that will convulse the economy. Better to follow the 1986 model. By Phil Gramm The goal of tax reform is to collect revenues while reducing the distorting influence that taxes impose on economic efficiency and growth. The 1986 tax reform stripped...

Understanding the Trump Trade Agenda

Posted in: Fiscal Policy, Foreign Policy | December 2, 2016 at 9:53 am , by Managed WordPress Migration User

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Returning to the 1950s is impossible. But currency manipulation does hurt American workers. By PHIL GRAMM and MICHAEL SOLON If President-elect Trump is to establish a pro-growth trade policy, he must build upon America’s postwar trade history. A lesson from that history is that if trade policy is to reinforce...

The Subprime Superhighway

Posted in: Financial Services, Fiscal Policy, Monetary Policy | October 3, 2016 at 3:02 pm , by Managed WordPress Migration User

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The U.S. and Europe are lowering capital standards for ‘investments’ in public infrastructure—ignoring the lessons from 2007-08. By PHIL GRAMM Oct. 2, 2016 5:56 p.m. ET More government spending, particularly for infrastructure projects, is the mantra in Washington and other capitals. But two factors stand in the way. First, the...