The Gold Standard Institute features Ralph Benko’s response to Gary North’s attack on the classical gold standard.
In The Washington Times, Herman Cain outlines his tax reform initiative. Reader S. Rao writes in with the following observation:
Herman Cain, whom I didn't think of supporting, had quite a revealing supply-side reference… today: "The capital gains tax is nothing more than a wall separating those with ideas from those with capital."
*Very* similar to Jude Wanniski's (from Laffer) wedge concept. I don't think it is unrelated to Cain's surprising vault to the top of the primary polling.
Another Wanniski concept Cain is implicitly endorsing is the difference between the incidence and the burden of a tax. The incidence of the cap gains tax is on the wealthy, but the burden is on the entrepreneur.
In The NYT, Jeff Sommer quotes Jeff Bell and Lew Lehrman on rising interest in the gold standard, but commits the error of discounting gold’s price for inflation:
The last apex of the back-to-gold movement was perhaps in 1980. It may have been a signal that the price of gold was about to peak. Could we be approaching a turning point now? “You could make that argument,” Mr. Bell says. “The big question is whether the government and the Federal Reserve will be able to get the economy under control without a return to gold.”
In Forbes, Steve Forbes advises the President to heed two important dates.
Also at Forbes, Nathan Lewis explains that gold is stable, not deflationary.
On The Kudlow Report, US Rep. Eric Cantor recounts that debt-ceiling negotiations broke down because the President insisted on tax increases:
At Forbes, Peter Ferrara notes the expected tax increases in 2013 and elimination of the Fed’s duel mandate.
On Forbes, Reuven Brenner suggests the Federal Reserve is mispricing credit.
This week’s winner of the Kevin Williamson Shooting-Inside-the-Foxhole Award goes to fractional reserve banking opponent Gary North at lewrockwell.com, for his harsh attack on sound money advocates Robert Mundell and Ralph Benko.
Speaking of Williamson, last week the National Review author once again muddied the waters by rebuking pro-growth advocates including fellow NR columnist Larry Kudlow.
On Kudlow, my old roommate Tim Carney debates the debt ceiling:
In The WSJ, author Margaret Hoover suggests a “jobs, jobs, jobs” agenda will win the GOP young voters.
Reagan brought an entire generation to the Republican Party in 1980, and in 1984 he won the youth vote by 20%. The GOP needs this kind of revolution again if it hopes to recapture the White House and create a sustained majority.
The Washington Postcontinues the media’s fascination with anti-tax advocate Grover Norquist.
In Business Week, David J. Lynch reports that Republicans embrace Art Laffer’s tax ideas.
The WSJnotes GOP candidate Michelle Bachmann suggesting lower income workers should pay higher taxes.
From Forbes, Nathan Lewis clarifies that the gold standard’s purpose is to create a currency that is stable in value.
On IBD, Brian Domitrovic argues the fiat dollar has allowed the U.S. fiscal and current account deficits.
The WSJnotes the failure of the President’s Keynesian policies.
IBDcontrasts the Reagan recovery with the current one.
On The Kudlow Report, John Tamny discusses the dollar’s fall:
At Forbes, Tamny reports on one wealthy American who is “shrugging.”
From The Washington Post, George Will confirms that tax rates impact business decisions.
In The NYT, Roger Lowenstein defends the current monetary system.
The Times of Indiareports nations moving into dollar alternatives.
At Forbes, Bill Flax criticizes Ben Bernanke for continuing QE2.
On This Week with Christiane Amanpour, Jack Kemp-protégé U.S. Rep. Paul Ryan (WI) predicts debt – not growth and jobs – will be the focus of the 2012 election:
NPR’s Robert Smith attempts to rebut the claim that the rich flee high tax states.
On Forbes, Bret Swanson praises Mitch Daniels’ management style.
The NYT profiles Gary North, whose Christian Economics includes support for the gold standard.
