Wednesday, December 8, 2010

Wednesday round up.

At The WSJ, Thomas Cooley and Lee Ohanian explains that the average marginal tax rate on capital income, which includes all forms of taxable capital, is near 37 percent and that cutting it would yield substantial benefits.

On Bloomberg, Caroline Baum deconstructs Fed Chairman Bernanke’s 60 Minutes appearance.

In Politico, U.S. Rep. Paul Ryan (WI) outlines his approach to deficits and the economy:

I have studied the field of economics since I was 18 years old, and it is who I am. My economics training and understanding definitely guide the way I formulate policy so that you get the best outcome to maximize growth. I am a pro-growth conservative, and I very much believe — passionately — that what we are trying to achieve here is a growth agenda instead of an austerity agenda. Where the press and conventional wisdom get this wrong is [in saying] that we need nothing but a root canal and straight talk and pain and suffering. Joe Scarborough was throwing that up to me the other day on TV. That’s not true. That’s what will happen if we kick the can down the road. ... How much time we have left before we have bitter European austerity fixes is anybody’s guess. But we know that is coming sooner rather than later.
On Bloomberg TV, Steve Forbes assesses the tax cut package’s impact.

The WSJ applauds the tax deal but notes its two-year limit creates continued uncertainty.

At CNBC, Forbes sounds positive about the tax deal:

On Forbes, Brian Wesbury and Robert Stein see the President’s tax cut agreement encouraging faster growth.

At Asia Times, David Goldman explains why he is still pessimistic about US growth.

On PBS’s Newshour, Stephen Moore debates Paul Krugman on the tax cut deal.

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