Tuesday items: Norquist on trickle down taxes; Stoll on the politics of tax increases; Romney on the Buffett Rule.

From The WSJ, Grover Norquist argues tax increases on the rich trickle down to the middle class.

In The NY Sun, Ira Stoll suggests President Obama’s tax increase policy leaves him politically vulnerable.

At The WSJ, Stephen Moore reports the Buffett Rule’s defeat in the Senate but notes Democratic pledges to keep pushing it.

In The American, Steve Conover explains the Buffett Tax would hit older people disproportionately.

On The Kudlow Report, Mitt Romney discusses tax policy, the Fed, and oil:



At RCM, John Tamny criticizes Romney’s tax and monetary positions.

In IBD, Art Laffer highlights the failure of California’s soak-the-rich approach.

At The Washington Times, Richard Rahn explains the wealthy have great capacity to determine how much tax to pay.

From Alhambra Partners, Joe Calhoun sees the market moderating in response to modest economic growth.

The San Francisco Chronicle features an Investopedia article that notes that as tax rates rise the rich may not work less but do find ways to offset their taxable income.

From The Victory Corp, John Tamny discusses Herman Cain’s tax plan and Rick Santorum.

At Reason, Shikha Dalmia suggests John Maynard Keynes may have been a closet supply-sider.

In The NYT, Bruce Bartlett notes that businesses startups do create most new jobs but suggests tax cuts won’t do much to help.

Weekend edition: The WSJ on the Buffett Rule; Heritage on Taxmageddon; Laffer on state tax competitiveness.

The WSJ argues the Buffett Rule will reduce federal tax revenue.

Heritage highlights the Taxmageddon coming in 2013.

From NRO, Larry Kudlow clarifies the Reagan record on tax hikes such as the Buffett Rule.

At The WSJ, Mary Anastasia O’Grady discusses Reagan’s tax record:



ALEC releases Art Laffer’s state index of state economic competitiveness.

From The American Spectator, Peter Ferrara and Stephen Moore oppose using equality to make tax policy.

At Forbes, Louis Woodhill laments Spain’s tax increases on top of an already weak economy.

NPR features Robert Mundell suggesting Iceland may do well to replace the krona with a large nation’s currency.

On Hardball, Stephen Moore debates tax policy:



The NYT reports an initiative to make diamonds an investment commodity like gold.

In The WSJ, Stephen Moore notes the President’s opposition to the DC school voucher program for low-income kids.

At Forbes, John Tamny wonders why so many conservatives supported Rick Santorum.

On MSNBC, Steve Forbes discusses Mitt Romney’s chances versus President Obama.



On Bloomberg, Mundell explains how to accept a Nobel Prize.

Wednesday items: Domitrovic on Reagan's falling oil prices; Lenzner on the recent GW Bush tax event; Moore on the Buffett Rule.

From Forbes, Brian Domitrovic explains how Reagan got gas prices to drop.

In The NY Sun, Ira Stoll notes this week’s tax competition conference in New York.

At Forbes, Robert Lenzner reports on the recent George W. Bush Presidential Center event on tax competition where panelists stressed the need for a four percent growth rate.

On The Kudlow Report, Stephen Moore rebuts the suggestion that Ronald Reagan would support the Buffett Rule:



Money News features Lew Lehrman on the need for a gold-linked dollar.

At The American, James Pethokoukis formulates some genuine Reagan Rules for President Obama.

In The WSJ, Brian Gaines and Douglas Rivers suggests most people oppose high tax rates on the rich.

In Forbes, Janet Novack reports the widening gap between high and low tax states.

From City Journal, Guy Sorman highlights a World Bank report on global economic liberalization and the decline of poverty.

At Reason, Art Laffer discusses how to reform California’s economy:



From National Review, Jonah Goldberg worries that Mitt Romney favors business rather than free markets.

Reuters reports Brazil’s President complaining to President Obama about US monetary policy.

On TGSN, Ralph Benko recounts the monetary roots of Civil War Reconstruction.

Thursday items: Hanke on China trade; Cochrane on growth; Pethokoukis on tax rates.

At Globe Asia, Steve Hanke rebuts China-trade hawks.

From Bloomberg, John Cochrane argues Europe needs growth rather than Keynesian deficit stimulus.

At The American, James Pethokoukis highlights academic studies showing tax rates substantially impact economic activity.

On CNBC, Ron Paul (TX) pans US Rep. Paul Ryan’s (WI) budget for insufficient spending cuts:



At IBD, Alan Reynolds and Steven Slein examine the Buffett Rule’s likely impact on corporate dividends.

The WSJ notes a scoring analysis showing the Buffett Rule would yield little revenue.

At TGSN, Ralph Benko explains the monetary roots of the Panic of 1837.

On Forbes, Louis Woodhill critiques the President’s recent energy speech.

At Forbes, Jerry Bowyer analyzes the gold price’s recent decline.

From Comedy Central, South Park satirizes the weak-dollar cash-for-gold market:

The NYT reports Britain cutting its top tax rate (minimally) while maintaining spending austerity.

The Washington City Paper calls supply-side economics a con.

Monday summary: Forbes and Reynolds on Newt's role in supply-side's founding; Ron Paul on the dollar; Wilson on income inequality.

From Forbes, historian Brian Domitrovic notes Newt Gingrich’s role in advancing supply-side economics.

At The Huffington Post, Alan Reynolds denies Gingrich’s role in supply-side’s founding.

In The NY Sun, Ira Stoll criticizes Gingrich for bashing investment banks and private equity firms.

National Journal quotes Jeff Bell on the GOP presidential primary’s emerging establishment vs. conservative grassroots theme.

On The Kudlow Report, Larry Kudlow interviews US Rep. Ron Paul on the Fed, the dollar and gold:



In The WSJ, James Freeman notes that Warren Buffett likely would avoid the Buffett Rule.

On Forbes, John Tamny links global warming pessimism to belief in America’s inevitable decline.

IBD examines the Obama recovery’s abnormally slow pace.

In The Washington Post, James Q. Wilson suggests income inequality is related to social factors such as education level and family structure.

On Kudlow, David Goldman sounds moderately optimistic about US growth:



The WSJ highlights a World Bank report relating Europe’s slow growth to demographics and big government.

From Cato, David Boaz refutes the claim that China caused the 2008 financial crisis.

Thursday items: Reynolds on Romney's tax return; Malpass on Ron Paul; Newt on Reagan.

From IBD, Alan Reynolds explains Mitt Romney’s tax return.

In The WSJ, David Malpass argues the Fed should listen to Ron Paul’s criticism.

The WSJ responds to President Obama’s Buffett Rule would raise the capital gains tax to 1978 level.

On The Kudlow Report, Newt Gingrich defends his support for President Reagan:



In The WSJ, Henry Nau explains the middle class shrank from 1980-2007 because more people became wealthy.

From Bloomberg, Evan Schnidman and Daniel Nadler note the economy’s positive reaction in recent years to a weaker dollar.

In The WSJ, Daniel Yergin suggests the new Thatcher bio-pic misses the pro-growth turnaround she led.

At Fiscal Times, Bruce Bartlett says the flat tax will never fly.

Week in review: Woodhill and Tamny on Romney; Freeman and Tamny on Santorum; Laffer on Buffett.

Apologies for the gap in service last week. Was in Austin, TX for The Laffer Center’s winter meeting featuring interesting talks from Art Laffer, Brian Domitrovic, Steve Moore, John Chapman, and Dan Mitchell, plus terrific comments from Louis Woodhill.
-----------------------

In Forbes, Louis Woodhill suggests Mitt Romney doesn’t understand growth, starting with his neglect of the dollar.

At RCM, John Tamny chides Romney’s Bain critics.

In The WSJ, James Freeman profiles Rick Santorum as a “supply-sider for the working man.”

Also at RCM, Tamny critiques Santorum’s plan to revive US manufacturing.

In The WSJ, Art Laffer rebuts the Buffett strategy to tax the rich.

PBS’s Newshour challenges the Laffer Curve:




From Alhambra Partners, John Chapman analyzes current monetary policy.

At Cato Unbound, John Tamny argues gold-linked money would restore the economy.

The NY Sun applauds former Malaysian Prime Minister Mahathir Mohamad for supporting the gold standard.

At TGSN, Lew Lehrman discusses the origins of the gold-linked dollar:



TGSN recounts the Founders’ views on sound money.

In USA Today, US Rep. Ron Paul (TX) critiques the Federal Reserve.

At The Street, Steve Forbes argues for gold-linked money.

In Forbes, Peter Ferrara notes the extraordinarily slow economic recovery.

On Fox Business, Steve Forbes sounds bullish on the economy:




From Forbes, Charles Kadlec suggests lower government spending will lead to more jobs.

On NRO, Larry Kudlow urges Romney to take up tax reform.

From Bloomberg, Ramesh Ponnuru argues supply-side economics isn’t selling with voters.

At NRO, Ponnuru suggests Romney not adopt tax reform.

On MSNBC’s Hardball, Bruce Bartlett argues the Bush era proves tax rates don’t lead to prosperity:




In The CSM, Keynesian Jared Bernstein opposes “trickle-down economics.”

Thursday items: Woodhill says paying interest on reserves is the root of the problem; Bloomberg forecasts the euro falling to $1.20; Cain's tax advisor cites Laffer and Wanniski.

From Forbes, Louis Woodhill makes a compelling case that the Fed paying interest on reserves has killed M1 velocity and the monetary multiplier, neutralizing the effect of quantitative easing.

Bloomberg reports a technical analysis predicting the euro to fall to $1.20 in the next three months, per Robert Mundell’s prediction.

Human Events notes Art Laffer endorsing Herman Cain’s 9-9-9 tax plan.

On Fox News, Laffer discusses the plan: 



From reader S. Rao:

1. The New York Times profiles Cain's sole economic advisor and notes that he looked to Wanniski in devising 9-9-9.

"Mr. Lowrie said he had been inspired by two well-known proponents of supply-side thinking: Arthur Laffer, often considered the father of the concept that lower tax rates help pay for themselves by generating additional economic growth, and Jude Wanniski, who promoted the idea among politicians."

2. During Tuesday's debate, Cain again repeated the Wanniski wedge-model for the capital gains tax:

"But also, get rid of the capital gains tax. That's a big wall between people with ideas and people with money."

Politico reports on Gary Robbins’ analysis of Cain’s plan.

CNBC describes Gov. Rick Perry’s energy production plan.

On NRO, Kevin Williamson slams Warren Buffett’s tax analysis.

At Politico, Josh Boak reports on last week’s Heritage conference on a stable dollar.

Caffeinated Thoughts suggests Newt Gingrich favors gold-linked money.

The Economist’s Buttonwood wonders at low bond yields despite depreciating currencies (h/t: TGSN).

From the Council on Foreign Relations, Ben Steill explains the Marshall Plan’s role in fostering European economic liberalization. 

Tuesday items: Multiples responses to the Obama/Buffett tax hike argument; Tamny on bank bailouts; The WSJ chides Romney's China stance.

AP rebuts the President’s (and Warren Buffett’s) claims regarding tax rates paid by the rich.

The WSJ critiques the Obama/Buffett analysis.

On NRO, Larry Kudlow bashes the President’s tax attack.

From The Fiscal Times, Steve Forbes opposes tax increases on the rich.

At The WSJ, Paul Gigot comments on the President’s tax proposal:

 

At RCM, John Tamny notes that three years after the bailouts, the banking system is weaker.

On Café Hayek, Don Boudreaux echoes Douglas Irwin’s claim that Smoot-Hawley played a minor role in the Great Depression.

In The WSJ, Bret Stephens predicts the eurozone’s break up.

Alhambra Investments foresees a breakup of the euro.

The WSJ chides Mitt Romney for his rhetoric on China’s currency.

London’s Chatham House features documents from its 1929-31 conference on The International Gold Problem.

Sanjuktamoorthy.com explains Robert Mundell’s desire for a single world currency.

In The Washington Times, Richard Rahn notes that elevated inflation combined with ultra-low interest rates means a huge tax on savers.

On Bloomberg, Caroline Baum reports the Fed’s upcoming replay of Operation Twist.

On The Kudlow Report, James Pethokoukis debates the President’s low poll numbers:

 

In The NYT, Bruce Bartlett advocates rolling back tax code expenditures.

From First Trust, Brian Wesbury argues a new recession is unlikely.

At The Weekly Standard, Jonathan V. Last suggests China’s One Child Policy will prevent it becoming a great nation.

The Huffington Post reports Newt Gingrich will unveil a Contract with America 2012. No word as to whether currency and exchange rate reform will be on the agenda.

In The NYT, conservative Keynesian Ben Stein supports for higher taxes on the rich.

At COAL, Paul Krugman claims the current crisis is caused by a failure of demand, but that supply-side problems may be emerging.

Tuesday items: Domitrovic on JFK's early missteps; Kudlow praises the frontrunners' dollar stance; Reynolds rebuts Buffett.

From Forbes, Brian Domitrovic explains that the President’s jobs proposal repeats JFK’s early mistakes.

At Cato, Alan Reynolds explains the President’s plan would mean a $447 billion in tax increases. Also from Cato, Reynolds analyzes the flaw in the President’s home refinancing plan.

At NRO, Larry Kudlow notes the GOP front runners support for a stable dollar.

On The Kudlow Report, David Goldman discusses a possible Greek default:



From IBD, Alan Reynolds rebuts Warren Buffett’s call for higher taxes.

In The Washington Times, Richard Rahn notes regulations that damage the economy.

David Goldman has launched a financial analysis company.

From Alhambra Partners, John L. Chapman notes that New Keynesian Romney advisor Greg Mankiw tellingly omits the dollar from his analysis of weak US fixed investment.

In The Financial Post (Canada), Steve Hanke analyzes the damage done by Basel III’s increased bank capital-asset requirements.

At TGSN, Daniel M. Ryan explains the danger of fiat money (more here).

On Kudlow, James Pethokoukis discusses Rick Perry’s debate performance and Social Security position:

 

At Forbes, Ken Rapoza quotes Bretton Woods Research’s Vlad Signorelli defending the euro.

On NRO, Josh Hendrickson of University of Mississippi argues the Fed should target nominal growth.

From Bloomberg, NRO’s Ramesh Ponnuru criticizes Rick Perry for bashing Social Security.

Monday items: Mundell on the euro/dollar; Ip and Roberts debate Keynesian stimulus; Goldman sees two economies in America.

From Central Banking, Robert Mundell provides a fascinating overview of the euro and the dollar situation.

At Forbes, John Tamny suggests politicians should do less.

The WSJ notes a week’s worth of unhelpful economic messages from the Obama Administration:

Monday: "Warren Buffett right about taxes, says Obama." The week began with a one-two tax punch from Warren Buffett and President Obama. The Omaha stock-picker wrote an op-ed begging Congress to raise taxes on millions of Americans who make less than he does, and the President used the first stop of his bus tour, in Cannon Falls, Minnesota, to agree.

"I put a deal before the Speaker of the House, John Boehner, that would have solved this problem," Mr. Obama said, "and he walked away because his belief was we can't ask anything of millionaires and billionaires and big corporations in order to close our deficit." So America's main job creators are still on notice that a tax increase is in their future in 2013, if not sooner.

In The Washington Post, Greg Ip argues Republican skepticism of easy money and Keynesian spending is the new voodoo economics.

At Café Hayek, Russ Roberts fires back.

On Asia Times, David Goldman suggests there are two American economies.

From last week on The Kudlow Report, Jimmy Pethokoukis discusses the President’s growth plans:




From Bloomberg, conservative Keynesian John Taylor blames President Nixon’s wage and price controls – not the dollar's float from gold – for 1970s inflation.

In The WSJ, Harvey Golub responds to Warren Buffett’s tax-hike advocacy.

At Barron’s, Jim McTague describes Ron Paul’s economic message as gloomy.

In The WSJ, Mary Anastasia O’Grady links the Fed’s easy money to high commodity prices, which may help re-elect Argentina’s leftist government.

The Weekly Standard reports US Rep. Paul Ryan (WI) passing on a White House run.

Thursday round up: Perry wants greater Fed transparency; Laffer chides Laffer; Kudlow sees the M2 rise as deflationary.

The NY Sun praises Gov. Rick Perry’s (TX) Federal Reserve criticism but hopes he will deepen his analysis.

In USA Today, Jeff Bell lauds Perry’s comments.

The WSJ commends Perry for taking a hard money stance.

Meanwhile, The Washington Post quotes Perry sounding defensive about his comment and explaining that his main desire is for greater Fed transparency.

On Squawk Box, Art Laffer chides Warren Buffett and provides a primer on his famous curve:




At Forbes, Tim Worstall rebuts Buffett’s tax argument.

On NRO, Larry Kudlow suggests the sharp rise in M2 suggests deflationary hedging against European banks.

From Forbes, Louis Woodhill explains why a 10 to 1 spending-cut-to-tax-increase ratio would still be a bad deal.

In The WSJ, Stephen Moore notes the President blaming world events and Republicans for the weak economy.

On The Kudlow Report, David Malpass discusses today’s market tumble and Europe’s banks:




Gold Standard 2012 features an International Economy article by Jeff Bell on the dollar and gold.

At Fox News, Rich Danker notes Venezuela’s nationalizing of its gold industry.

CNN reports US Rep. Michelle Bachmann (MN) promising to bring gas back to $2 per gallon.

On Forbes, John Tamny finds economic lessons in a book on the restaurant business.

At International Liberty, Dan Mitchell analyzes strange Keynesian arguments.

Wednesday summary: Rick Perry's Fed comments continue to garner attention; Salsman provides a history of gold; The WSJ notes the impact of higher taxes in Maryland.

RCP features Rick Perry continuing to critique the Fed.

Politico notes former Bush Administration officials critiquing Perry.

At Yahoo Finance, David Stockman endorses Rick Perry’s Federal Reserve criticism:

Reuters reports Michelle Bachmann joining the anti-Bernanke fray.

At Forbes, Richard Salsman provides an interesting history of the gold standard.

On First Trust, Brian Wesbury and Robert Stein suggest inflation is rising.

From The Kudlow Report, Brian Wesbury and Don Luskin debate inflation:




On RT America, Lew Rockwell discusses the Nixon Shock.

From 1971, Alan Reynolds blasts Nixon's price controls.

CNBC’s Squawk Box Europe features a good discussion of the gold standard:




The WSJ responds to Warren Buffett’s tax increase advocacy.

In The Washington Post, Jennifer Rubin reports Bill Bennett supports US Rep. Paul Ryan (WI) running for president.

The WSJ notes the decline of wealthy tax filers following last year’s soak-the-rich tax hikes in Maryland:

One year later, nobody's grinning. One-third of the millionaires have disappeared from Maryland tax rolls. In 2008 roughly 3,000 million-dollar income tax returns were filed by the end of April. This year there were 2,000, which the state comptroller's office concedes is a "substantial decline." On those missing returns, the government collects 6.25% of nothing. Instead of the state coffers gaining the extra $106 million the politicians predicted, millionaires paid $100 million less in taxes than they did last year -- even at higher rates.

From 1979, Ronald Reagan announces his campaign for president (h/t: James Pethokoukis):




A new website promotes the Swiss gold franc.

At COAL, Paul Krugman notes bond vigilantes are only going after countries without their own currencies.

Tuesday round up: More Nixon Shock commentary; Perry attacks the Fed; Moore advocates a Kemp-style growth agenda.

More commentary on Nixon’s closing the gold window:

The Weekly Standard, Bill Kristol
Forbes, Charles Kadlec
Fox News, Ralph Benko
Forbes, Ralph Benko
Barron’s, Jude Wanniski (from 2001)
Lew Rockwell, Gary North
Mises.org, Jordi Franch
Capital Gains and Games, Bruce Bartlett

And on The Alyona Show, Ralph Benko discusses Nixon’s decision:




From Cato, Dan Griswold notes the Nixon Shock anniversary but praises the floating dollar:

Closing the gold window was arguably inevitable given the lack of monetary discipline by the U.S. central bank. By 1976, the dollar and other major currencies were floating freely, which has turned out to work rather well, as Milton Friedman predicted it would. It also turned out that pressure on the dollar to depreciate was not driven by speculators after all but by the surplus of dollars that had been created to finance the Vietnam War and the Great Society.

ABC reports Gov. Rick Perry (TX) suggesting more Fed easing would be treasonous.

On NRO, Larry Kudlow praises the substance of Perry’s remark.

At Reuters, Jim Pethokoukis contrasts Perry’s Fed comments with past comments by Gov. Mitt Romney (MA).

On The Kudlow Report, US Rep. Ron Paul (TX) discusses gold and Perry’s Fed comments:




At NRO, Katrina Trinko notes Romney’s shift towards a flat tax.

From The WSJ, Stephen Moore wonders if the GOP remembers Jack Kemp’s pro-growth message.

Future of Capitalism compiles responses to Warren Buffett’s tax increase advocacy.

IBD also weighs in. As does NRO’s Michael G. Franc.

On Fox Business News, Steve Forbes discusses returning to the gold standard:




At RCM, John Tamny warns against banning short sales.

On CNBC, John Carney suggests the political parties may be conspiring to kill Jude Wanniski’s two Santa Clauses.

At Bloomberg, NRO editor Ramesh Ponnuru advocates more loose money.

Also on Kudlow, a panel discusses Perry’s Fed remarks:




On NRO, US Rep. Thad McCotter (MI) describes America facing a Great Deflation but chastises the Fed for inflationary quantitative easing.

At The NYT, Bruce Bartlett argues the economy needs Keynesian demand-side stimulus.

Monday items: Multiple authors mark the fiat dollar's 40th birthday; Tamny debates the dollar; Buffett advocates higher taxes.

A number of articles today mark the 40th anniversary of President Nixon severing the dollar from gold:

• The WSJ, Lewis Lehrman
• Forbes, Brian Domitrovic
• The Washington Examiner, Jeffrey Bell
• CNBC, Ralph Benko
• RCM, John Tamny
• TGSN, an open letter, multiple signatories
• The Telegraph (UK), Edmund Conway
• AEI’s The American, John A. Allison and John L. Chapman
• The NY Sun, editorial page

On The Kudlow Report, John Tamny debates gold and the dollar:




The Heritage Foundation advertises an October conference on dollar stability.

On Asia Times, David Goldman defends Wall Street against populist scapegoating.

In The NYT, billionaire investor Warren Buffett advocates higher taxes on the wealthy.

Also on Kudlow, Stephen Moore discusses Buffett’s article:

 


From The Freeman, Mark Skousen disputes the idea that consumer spending drives the economy.

At COAL, Paul Krugman sees inflation fears fading.

Thursday round up: Moore and Medved on the wealthy's tax rates; Forbes predicts an eventual debt deal; Woodhill argues unemplyment is worse than thought.

From The WSJ, Stephen Moore explains that Warren Buffett is wrong about taxes paid by the wealthy.

At The Daily Beast, Michael Medved cites Alan Reynolds to rebut claims that the rich pay less taxes than they have for 50 years.

On The Kudlow Report, Steve Forbes predicts an eventual debt ceiling deal, even if it goes past next Tuesday:




At NRO, Larry Kudlow notes a debt downgrade is serious business.

From Forbes, Louis Woodhill suggests unemployment is worse than is commonly understood.

On Kudlow, Sen. Mike Crapo (ID) recounts the importance of restoring strong growth to reduce long-term debt:




US News reports the debt ceiling debate is raising interest in the gold standard (h/t: TGSN).

At The American Spectator, Peter Ferrara defends House Republicans’ handling of the debt crisis.

On TGSN, Lew Lehrman describes the gold standard as a bridge between generations:

Monday items: Benko on last week's SSE conference; Lipsky on gold; Kudlow on oil prices.

On Forbes, Ralph Benko recounts the sound money consensus at last week’s supply-side conference in New York.

From Hillsdale, Seth Lipsky explains why the dollar should be defined in gold.

At NRO, Larry Kudlow sees the weak-dollar caused oil price spike as a tax hike.

On The Kudlow Report, Larry Kudlow hammers presidential candidate Tim Pawlenty on his lack of a growth message:



At The Motley Fool, Warren Buffett predicts the dollar will continue to decline.

From Think Markets, Andreas Hoffman recounts Robert Mundell’s theory of optimum currency areas.

On Asia Times, David Goldman doubts a Treasury market implosion.

From last week in The NYT, former Fed official Laurence H. Meyer argues inflation is not a worry.

On Forbes, Steve Forbes advocates increased oil drilling.

In The NYT, Greg Mankiw predicts a U.S. debt crisis.