Category Archives: Fiscal Policy

Michael Solon: The Revenue Deficit From Progressive Tax Rates

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The government now relies far more on fewer and wealthier taxpayers. No wonder revenues are lower. The two policies that national Democrats blame for massively unbalanced federal budgets—the Bush tax cuts and the wars in Iraq and Afghanistan—have been largely repealed. Yet deficits are projected to average $700 billion a...
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Gramm and Solon: Can Government Benefits Turn an Election?

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This election will test the relative power of private-sector aspirations versus public-sector dependence. By Phil Gramm and Mike Solon as appeared in Wall Street Journal on October 18, 2012 Since World War II, the five incumbent presidents who were re-elected enjoyed an economy where the unemployment rate averaged 5.4% in...
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Gramm and Taylor: The Hidden Costs of Monetary Easing

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By Phil Gramm and John Taylor as appeared in Wall Street Journal on September 12, 2012 Since mid-September of 2008, the Federal Reserve balance sheet has grown to $2,814 billion from $924 billion as it purchased massive amounts of U.S. Treasurys and mortgage backed securities. To finance those purchases the...
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Phil Gramm on Banking, Regulation, U.S. Election

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Sept. 10 (Bloomberg) — Former U.S. Senator Phil Gramm, a Texas Republican who helped write the 1999 law that enabled the creation of financial institutions such as Citigroup Inc. and Bank of America Corp., talks about the outlook for the 2012 presidential election and the banking industry. He speaks with...
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