Voters should examine how far left the former vice president has moved since winning the primaries. By Phil Gramm July 30, 2020 1:48 pm ET When unemployment and poverty rates hit record lows in late 2019, while retirement accounts and average household incomes surged to record highs, Joe Biden understood that...
Read more
Category Archives: Uncategorized
WSJ: Voters’ Choice: Growth or Stagnation
Before the shutdown, the economy was booming. Credit Trump’s policies, not Obama and Biden’s. By Phil Gramm and Mike Solon July 8, 2020 1:10 pm ET The year began with a recovery that belied every negative cliché about the Trump tax cuts and regulatory reform. Tax cuts demagogued as giveaways to the rich...
Read more
WSJ: Why the Fed May Not Duck Inflation This Time
Banks’ excess reserves limited the money supply after 2008, but looser rules today might give way. By Phil Gramm and Mike Solon May 28, 2020 7:08 pm ET Is there any limit to the power Congress is willing to give to the Federal Reserve? Since 2008 lawmakers have granted the Fed the ability...
Read more
WSJ: More ‘Stimulus’ Would Crush the Recovery
Federal borrowing this year is set to pass 20% of GDP. That will raise costs across the private economy. By Phil Gramm and Michael Solon April 14, 2020 12:44 pm ET A democracy’s greatest challenge arises when it confronts a major crisis during an election, since the critical need for serious...
Read more
WSJ: Wealthy Americans Already Pay Their Share
Arguments to the contrary spurn or wildly distort statistics and cherry-pick anecdotal examples. By Phil Gramm and John F. Early Feb. 25, 2020 7:19 pm ET Even amid a freewheeling presidential primary, Democrats are of one mind when it comes to taxation: Rich Americans are not paying their fair share. Congressional Democrats have...
Read more
WSJ: The Plot to Politicize Banking
Liberal lawmakers and activists want banks to lend to favored groups and deny the ‘undesirables.’ By Phil Gramm and Michael Solon Jan. 14, 2020 6:59 pm ET To resist President Trump’s campaign of economic reform and deregulation, his critics usually attempt to portray long-overdue, common-sense policies as assaults on the poor. A good...
Read more
WSJ: George Bailey Saw the Miracle of Capitalism
The world owes its wealth to the likes of the thrifty lender, but today’s youth are tempted to give it all up. By Phil Gramm and Mike Solon Dec. 23, 2019 6:47 pm ET Frank Capra’s “It’s a Wonderful Life” rose from commercial failure after its 1946 release to Christmas fixture starting in...
Read more
WSJ: The Truth About Income Inequality
The census fails to account for taxes and most welfare payments, painting a distorted picture. By Phil Gramm and John F. Early Nov. 3, 2019 3:43 pm ET Never in American history has the debate over income inequality so dominated the public square, with Democratic presidential candidates and congressional leaders calling...
Read more
WSJ: Big Bad Trusts’ Are a Progressive Myth
Today’s tech titans, like yesterday’s industrial giants, will diminish in time thanks to competition. By Phil Gramm and Jerry Ellig Oct. 2, 2019 6:49 pm ET The resurgence of progressivism in America has brought growing support for a return to Progressive-era trustbusting. Sen. Elizabeth Warren has a plan to break up...
Read more
WSJ: Warren’s Assault on Retiree Wealth
Her vision of ‘accountable capitalism’ would destroy savings built over a lifetime—and sink the economy. By Phil Gramm and Mike Solon Sept. 10, 2019 6:41 pm ET Who owns the vast wealth of America? Old folks. According to the Federal Reserve, households headed by people over the age of 55 own 73% of...
Read more